June 9, 1992 |
John J. Keating led CU Bancorp to exceptional growth during the 1980s, making it the largest commercial bank based in the San Fernando Valley. But that growth abruptly stopped in the 1990s, which has now led to Keating's abrupt exit. Keating, 47, resigned last week as president and chief executive of both Encino-based CU and its principal unit, California United Bank. He remains a consultant and director, however. CU's board replaced him with Stephen G.
February 17, 1987
Citing a "conservative operating philosophy," Lincoln Bancorp Chairman and Chief Executive John J. Keating said the company's net income last year was $1.4 million, or 86 cents a share, a 37% increase over 1985 results. The Encino-based parent of Lincoln National Bank said deposits jumped 60%, to $229.6 million. Assets were nearly $242 million as of Dec. 31, a 56% increase over a year earlier.
May 12, 1992
CU Bancorp, the Encino-based holding company for California United Bank, reported a 40% drop in net income for its first quarter, to $595,069 from $986,682 a year ago. John J. Keating, president and chief executive officer, said results for the three months ended March 31 were negatively affected by lower interest rates and increased expenses, largely in the mortgage banking division. CU Bancorp's total non-interest expenses for the first quarter were $7.9 million, compared with $5.
January 22, 1991
CU Bancorp, the Encino parent of California United Bank, reported that its net income for the fourth quarter ended Dec. 31 fell 28% to $1.28 million from $1.77 million a year ago, mainly because of an increase in its quarterly provision for possible loan losses to $1.45 million from $600,000 a year earlier. Despite the increase in CU's loan loss provision, California United's non-performing assets were "relatively modest" in the quarter, said John J. Keating, CU chief executive, in a statement.