LOS ANGELES--(BUSINESS WIRE)--California United Bank (“CUB” or “the Company”), a subsidiary of CU Bancorp (NASDAQ: CUNB), today announced that CU Bancorp Director and California United Bank Vice Chairman Kenneth J. Cosgrove will be recognized at the Company’s 9th Annual Golf Tournament benefit as the CUB Community Service Award recipient for 2016. The tournament, to be held on Monday, Sept. 26, 2016, at the Sherwood Country Club in Thousand Oaks, Calif., will benefit the Boys & Girls Club of the West Valley, SHAWL (Support for Harbor Area Women’s Lives), Carousel Ranch and A Place Called Home.
“In addition to an outstanding banking career that spans more than 40 years and includes the founding of two of Orange County’s premier banks—as well as serving as Vice Chairman of CUB—Ken has had an extraordinary impact on our community through his philanthropic and civic activities,” said David Rainer, Chairman and Chief Executive Officer of CU Bancorp and California United Bank. “In particular, Ken’s involvement with the St. Joseph Hospital Foundation, dedicated to the philanthropic support of St. Joseph Hospital, was instrumental in the continued development of the hospital, which was recently named one of the Best Regional Hospitals in the Los Angeles area by U.S. News & World Report.”
Cosgrove was appointed to the St. Joseph Hospital Foundation Board in 1992 and served in every officer capacity for the organization, including Chairman in 2004 and 2005. In 2012, he and his wife, Carolyn, were honored by the foundation with the “The Spirit of St. Joseph” award for their community outreach and charitable support, which has helped the hospital to provide outstanding healthcare and treatment to the community.
“In addition to his dedication to the St. Joseph Hospital Foundation, Ken also serves on the hospital’s Board of Trustees and chairs its Finance Committee. He has also enriched our community in other ways, through his involvement as a member of the Executive Council of Cal State Fullerton’s School of Business and Economics, as Chairman of the Orange County Economic Development Partnership, his membership in TEC International and Rotary International, and serving as a board member of various community and trade groups,” said Rainer.
Cosgrove has more than 40 years of banking experience and has served on the Board of Directors for CU Bancorp and California United Bank since CUB’s acquisition of Premier Commercial Bancorp in July 2012, and was named Vice Chairman of CUB later that year. He had served as Chairman and CEO of Premier Commercial Bank since its inception in 2001. Cosgrove was a founding executive of Orange National Bank, initially serving as the bank’s Senior Credit Officer and Chief Operating Officer, prior to being named President and Chief Executive Officer. Under his leadership, Orange National became the premier independent bank in Orange Country prior to its sale in 1999. He has also served as a member of the Board of Directors and Chairman of the Pacific Coast Bankers Bank in San Francisco, Calif.
He is a graduate of Long Beach State University and the Pacific Coast Banking School at the University of Washington.
To date, CUB has raised a total of more than $1.4 million for various local charities through its annual golf tournament.
About CU Bancorp and California United Bank
CU Bancorp is the parent of California United Bank. Founded in 2005, California United Bank provides a full range of financial services, including credit and deposit products, cash management, and internet banking to businesses, non-profits, entrepreneurs, professionals and investors throughout Southern California from its headquarters office in Downtown Los Angeles and additional full-service offices in the San Fernando Valley, the Santa Clarita Valley, the Conejo Valley, Los Angeles, South Bay, Orange County and the Inland Empire. California United Bank is an SBA Preferred Lender. To view CU Bancorp’s most recent financial information, please visit the Investor Relations section of the Company’s Web site. Information on products and services may be obtained by calling 818-257-7700 or visiting the Company’s Web site at www.cunb.com.
