California United Bank Reports Sale of over $22 Million in Common Stock and Completion of Secondary Offering.ENCINO, Calif. -- California United Bank (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CUNB) announced that it completed its current best efforts public offering of common stock on January 12, 2007 by accepting subscriptions for a total of 1,333,334 shares equaling $22,000,011. The Bank originally received a Permit from the Department of Financial Institutions to sell up to 1,212,122 shares at $16.50 per share or an aggregate of $20,000,013. Due to the number of subscriptions received, the Bank requested and received an amendment to the Permit allowing it to sell up to 1,333,334 shares. All 1,333,334 shares were sold. "Our capital raising efforts were extremely successful," commented President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. David I David I, king of Scotland David I, 1084–1153, king of Scotland (1124–53), youngest son of Malcolm III and St. Margaret of Scotland. During the reign of his brother Alexander I, whom he succeeded, David was earl of Cumbria, ruling S of the Clyde . Rainer. "We were able to fully satisfy most of our investors and continue our commitment to a broad and diverse shareholder base. The augmentation to the Bank's capital puts California United Bank in an extremely strong position for growth in 2007. " California United Bank provides a full range of financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , including credit and deposit products, cash management, and Internet banking for business and high net worth individuals from its headquarters office at 15821 Ventura Boulevard Ventura Boulevard is one of the primary east-west thouroughfares in the San Fernando Valley; as it was originally a part of the El Camino Real (the trail between Spanish missions), Ventura Boulevard is the oldest route in the San Fernando Valley. It was also U.S. , Suite 100, Encino, CA 91436 and West Los Angeles
{NOTE}: This news release contains forward-looking statements about the Bank for which the Bank claims the protection of the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. provisions contained in the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements are based on management's knowledge and belief as of today and include information concerning the Bank's possible or assumed future financial condition, and its results of operations, business and earnings outlook. These forward-looking statements are subject to risks and uncertainties. A number of factors, some of which are beyond the Bank's ability to control or predict, could cause future results to differ materially from those contemplated by such forward-looking statements. These factors include (1) changes in interest rates, (2) significant changes in banking laws or regulations, (3) increased competition in the Bank's markets, (4) other-than-expected credit losses due to real estate cycles or other economic events, (5) earthquake or other natural disasters affecting the condition of real estate collateral or the business environment, and (6) the impact of changes in regulatory, judicial, or legislative tax treatment of business transactions. Management cannot predict at this time the extent of the economic recovery, and a slowing or reversal could adversely affect our performance in a number of ways including decreased demand for our products and services and increased credit losses. Likewise, changes in deposit interest rates, among other things, could slow the rate of growth or put pressure on current deposit levels. Forward-looking statements speak only as of the date they are made, and the Bank does not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the statements are made. |
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