CU Bancorp Reports $135,809 Quarterly Profit

CU Bancorp in Encino posted a $135,809 profit for the third quarter, compared with a year-earlier loss of $7 million when the bank holding company set aside $12.2 million for bad loans.

CU, the parent of California United Bank, said its loan-loss provision in the latest quarter that ended Sept. 30 amounted to only $370,000. In this year’s second quarter, the company had a loan-loss provision of $7.5 million.

For the first nine months of 1992, CU lost $2.76 million, compared with a loss of $4.93 million a year earlier. The company’s assets as of Sept. 30 totaled $454.1 million, down 4% from $473.9 million a year earlier.