Corporate Bank: The Santa Ana bank that...
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Corporate Bank: The Santa Ana bank that caters to professional businesses said Monday that it has agreed to be acquired by CU Bancorp in Encino in a stock exchange. The value is expected to be Corporate Bank’s book value, which is the value of its loans and other assets minus its debts and other liabilities. The two-branch bank’s shareholder equity--the amount invested by owners plus retained earnings--was $7.8 million, or $15.53 a share, at the end of the year. CU Bancorp operates California United Bank.
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