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Bank expands local services

Posted: October 14, 2011 1:55 a.m.
Updated: October 14, 2011 1:55 a.m.

This photo taken Wednesday shows the California United Bank Valencia branch, which is located at 25350 Magic Mountain Parkway.

 

The California United Bank’s Valencia branch recently announced an expansion of its commercial lending operations.

“We really feel the Santa Clarita Valley is a growing business community,” said Bill Sloan, regional president at the Santa Clarita branch and senior vice president of real estate for the bank.

Looking for good people with lending expertise, the community-focused commercial bank is ramping up expansion of its local commercial-lending and business-banking team in the SCV, Sloan said.

“The bank really sees an opportunity in the Santa Clarita Valley,” Sloan said. “We wouldn’t be invested here if we didn’t believe in it.”

Sloan also serves on the Executive Committee of the Santa Clarita Valley Economic Development Corp., which has a mission to attract business and economic development to the region.

Steady growth
Based in Encino, the bank has eight branches covering Los Angeles, Ventura and Orange counties. The bank has grown steadily since opening in 2005.

California United Bank announced in its second-quarter 2011 results that income was up 45.8 percent over the same quarter in 2010, and a 49.8 percent growth of total assets to $796.7 million.

The growth was fueled in part by total deposits in the second-quarter 2011 increasing 64.3 percent, going from $420.2 million to $690.4 million over the same quarter in 2010.

Credit quality remained strong for the second quarter, said David Rainer, president and CEO with California United Bank.
The ratio of nonperforming assets, which includes nonaccrual loans and other real-estate-owned, as a percentage of total assets declined to 1.12 percent in March.

“Year-to-date net charge offs are 0.05 percent of average loans, which we believe is far below most Southern California community banks,” Rainer said.

Bankers’ perks
A local resident himself, Sloan said one of the perks for any local commercial banker coming on board with the bank is the opportunity to be a part of the community he or she lives in.

Moving to the local branch after years of commuting, Sloan said working locally completely changed his life.

“I’ve lived here since 1993, and now I get to be involved with my three kids or stop at home for lunch,” he said.

“We’re also all involved with nonprofit organizations,” he said. “It’s a big deal for us as a bank to be involved in the community where we have branches.”

There’s one other benefit to living and working locally, Sloan notes. Our bankers know the community and0 businesses they serve.

Community involvement
On Monday, California United Bank held its fifth annual charity golf tournament to benefit charities, including the Carousel Ranch.

Proceeds haven’t all been tallied yet, but the bank will be turning over a part of its proceeds to the local organization, which provides therapeutic programs for disabled and disadvantaged children through horses.

A portion of the proceeds will also benefit the Boys & Girls Club of the West Valley in the San Fernando Valley and Camarillo’s Casa Pacifica, an organization that serves abused, neglected and emotionally disturbed children.
California United Bank’s tournaments have raised as much as $151,000 per event in the past.

Local banking
Having helped the bank get its start six years ago, Sloan said California United Bank’s lending services motto is “‘Soon’ is Not Fast Enough.”

Offering revolving and short-term lines of credit, term loans, equipment and vehicle loans and letters of credit, as well as commercial real-estate loans, the bank prides itself on offering business owners quick decisions from bankers who work locally in the community.

We plan to expand our commercial lending services in Santa Clarita with bankers who are comfortable going out to visit and interact with members of the business community, Sloan said.

“They’ll be able to underwrite the deal themselves,” Sloan said. “Businesses can work with our people directly, not with someone from out-of-state or across the country.”

California United Bank is located at 25350 Magic Mountain Parkway, Suite No. 100, Valencia. More information can be found at  californiaunitedbank.com or by calling (661) 902-5700.

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