CU Bancorp (CUNB) in Encino, Calif., has agreed to buy 1st Enterprise Bank (FENB) in Los Angeles.

The $1.4 billion-asset CU Bancorp said in a press release Tuesday that it will pay $24.47 a share for the $776 million-asset 1st Enterprise. The deal could have a value of $94 million, based on the per-share pricing and 1st Enterprise's shares outstanding.

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