CU Bancorp Reports Net Income of $2.55 Million and Record Core Net Income of $3.18 Million for Third Quarter of 2014

ENCINO, Calif.--(BUSINESS WIRE)--CU Bancorp (NASDAQ: CUNB), the parent company of wholly owned California United Bank, today reported net income of $2.55 million, or $0.23 per fully diluted share, for the third quarter of 2014, an increase of 2.9% from net income of $2.48 million, or $0.23 per fully diluted share, for the third quarter of 2013. Core net income (defined below) for the third quarter of 2014 was $3.18 million or $0.28 per diluted share, an increase of 28.4% from core net income of $2.48 million, or $0.23 per share for the third quarter of 2013. Core net income for the nine months ended September 30, 2014, was $8.73 million or $0.78 per diluted share, an increase of 24.8% from core net income of $6.99 million or $0.65 per diluted share for the nine months ended September 30, 2013.