California United Bank in Encino on Monday announced a 63% decline in profits for 2009.

The $457 million-asset company earned $43,000 in the quarter, compared with a loss in the fourth quarter of 2008. The provision for loan losses increased 135.5% in the fourth quarter, to $1.279 million, from the same period in 2008.

The ratio of nonaccrual loans to loans increased 120 basis points to 1.95% during the fourth quarter. For the same period in 2008, the bank reported no nonaccrual loans.

The nearly five-year-old bank remained above "well capitalized" by regulatory standards. Its leverage ratio was 12.67%, Tier 1 risk-based was 16.25% and total risk-based capital was 17.50%.

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