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California United Adds Orange County Offices with Acquisition

California United Bank has acquired Premier Commercial Bancorp and its subsidiary Premier Commercial Bank in a deal valued at $38.1 million. The purchase of Premier brings California United’s assets to more than $1.2 billion and more than $1 billion in deposits and adds offices in Orange County. It is the second acquisition by Encino-based California United since the banks’ founding in 2005. In December 2010, the bank purchased California Oaks State Bank. “The combination of CUNB and PCBP will create a strong banking presence in the Southern California Market, allowing us to reach additional clients and provide additional products, including SBA lending,” said David Rainer, President and Chief Executive Officer of California United Bank. “We have always believed that Orange County presents significant opportunities for our middle-market focused business lending,” Rainer said in a prepared statement. Premier Commercial has branches in Anaheim and Newport Beach/Irvine. The California United loan production office in Orange County will be combined with the Premier branch in Newport Beach/Irvine branch. California United has branches in the San Fernando Valley, the Santa Clarita Valley, the Conejo Valley, Simi Valley, Los Angeles, South Bay and Glendale/San Gabriel Valley. Premier Commercial Chairman and CEO Kenneth Cosgrove and board member Robert Matranga join the California United board of directors.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.
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