California United Bank Further Strengthens Leadership Team

Karen Schoenbaum Is Appointed Chief Financial Officer

ENCINO, Calif.--(BUSINESS WIRE)--California United Bank (OTCBB:CUNB) today announced the appointment of Karen Schoenbaum as Executive Vice President and Chief Financial Officer, effective October 7, 2009. The Bank has also named Robert Dennen to the newly created posts of Chief Accounting Officer and Treasurer.

“With Karen joining the Bank we have augmented our management team to reflect our increasing size and sophistication”

“With Karen joining the Bank we have augmented our management team to reflect our increasing size and sophistication,” said David Rainer, CUB’s Chairman, President and CEO. “Her tremendous amount of experience in strategic growth initiatives and technology will assist us as we continue to expand and grow our footprint in Southern California. Our current CFO, Robert Dennen, will take on the dual roles of Chief Accounting Officer and Treasurer, with many of the same duties he currently performs.

“I have known Karen for many years, and I am confident she will further bolster our already strong finance team, while assisting us with technology and investor relations,” Mr. Rainer continued. “We are glad to have her aboard. In both Karen and Bob, we have two very capable financial executives. Together, they will solidify the finance and accounting functions of the Bank in this increasingly complex financial environment.”

“This is a terrific opportunity to join a high-quality financial institution as CUB continues to build its presence and meet the challenges posed by new growth opportunities,” Ms. Schoenbaum said. “I am eager to work with David and Bob as we build on CUB’s success and further establish the Bank’s position as a premier California lending institution.”

Prior to joining California United, Ms. Schoenbaum was Executive Vice President and Interim Chief Financial Officer of Premier Business Bank in Los Angeles. She previously served as Executive Vice President and Chief Financial Officer of California National Bank from 2001 to 2008, where she was responsible for the financial and regulatory reporting, accounting, treasury, asset and liability management, general services and corporate real estate departments.

From 1997 to 2001, she was Executive Vice President, Chief Financial Officer and Chief Information Officer of Pacific Century Bank, a $1.2 billion institution with 28 branches in Southern California and Arizona. From 1996 to 1997, she served as Senior Vice President and Chief Financial Officer of Royal Thrift & Loan Company, holding the same position at South Bay Bank from 1992 to 1996. She served as Audit Manager for Ernst & Young, LLP from 1985 to 1992.

Ms. Schoenbaum has a Master of Accounting degree and a Bachelor of Science degree in Business Administration from the University of Southern California.

About the Bank –

California United Bank provides a full range of financial services, including credit and deposit products, cash management, and Internet banking for businesses and high net worth individuals. The Bank operates from its headquarters office at 15821 Ventura Boulevard, Suite 100, Encino, CA 91436; West Los Angeles Regional Office at 1640 South Sepulveda Boulevard, Suite 114, Los Angeles, CA 90025; Santa Clarita Valley Regional Office at 25350 Magic Mountain Parkway, Suite 100, Valencia, CA 91355; Conejo Valley Loan Production Office at 4333 Park Terrace Drive, Suite 215, Westlake Village, CA 91361 and South Bay Loan Production Office at 1025 W. 190^th Street, Suite 225, Gardena, CA 90248. Information on products and services may be obtained by calling [phone] or visiting the Bank’s website at www.californiaunitedbank.com.

SAFE-HARBOR LANGUAGE

This news release contains forward-looking statements about the Bank, for which the Bank claims the protection of the safe harbor provisions contained in the Private Securities Litigation Reform Act 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) difficult and adverse conditions in the capital and credit markets, (2) continued volatility and further deterioration of the capital and credit markets, (3) significant changes in banking laws or regulations, including, without limitation, as a result of the Emergency Economic Stabilization Act, (4) a more adverse than expected decline or continued weakness in general business and economic conditions, either nationally, regionally or locally in areas where the Bank conducts its business, which may affect, among other things, the level of nonperforming assets, charge-offs and provision expense, (5) changes in market rates and prices which may adversely impact the value of financial products including securities, loans, deposits, debt and derivative financial instruments, and other similar financial instruments, (6) changes in the interest rate environment and market liquidity which may reduce interest margins and impact funding sources, (7) increased competition in the Bank's markets, (8) changes in the financial performance and/or condition of the Bank's borrowers, (9) a substantial and permanent loss of client accounts, (10) soundness of other financial institutions which could adversely affect the Bank, (11) increases in Federal Deposit Insurance Corporation premiums due to market developments and regulatory changes, (12) protracted labor disputes in the Bank's markets, (13) earthquake, fire or other natural disasters affecting the condition of real estate collateral, (14) the impact of changes in regulatory, judicial or legislative tax treatment of business transactions, (15) changes in accounting policies or procedures as may be required by the Financial Accounting Standards Board or regulatory agencies, and (16) the success of the Bank at managing the risks involved in the foregoing. 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, or to update earnings guidance, including the factors that influence earnings.

For a more complete discussion of these risks and uncertainties, see the company's Annual Report on Form 10-K for the year ended December 31, 2008 and particularly Part I, Item 1A, titled "Risk Factors."