CU Bancorp Q2 Results Top Expectations

CU Bancorp shares were 2% higher Tuesday morning after the bank holding firm reported Q2 earnings and revenues that improved year-over-year and beat expectations compiled by Capital IQ. Q2 EPS was $0.51 per share, up from $0.39 per share a year earlier and above the $0.43 per share consensus.

Revenues taken as the sum of net interest income and non-interest income totaled $32.1 million, up from $27.2 million in the year-ago quarter and higher than the $29.8 million average estimate. The company also said it expects the previously announced merger deal with PacWest Bancorp (PACW) to close in Q4, contigent upon shareholder approval and receipt of all necessary regulatory approvals, as well as other customary closing conditions.

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