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California United Bank and 1st Enterprise Bank to Merge

LOS ANGELES--(BUSINESS WIRE)--CU Bancorp (NASDAQ:CUNB) ("CUB") the parent of California United Bank and 1st Enterprise Bank (OTCQB:FENB) (“1st Enterprise”) today jointly announced the execution of a definitive agreement and plan of merger (the "Agreement") whereby 1st Enterprise will merge into California United Bank in a transaction valued at approximately $103.4 million. The transaction combines two of the leading commercial banking franchises in Southern California with more than $2.2 billion in combined assets which operate offices in Los Angeles, Orange, Ventura and San Bernardino counties.