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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report: July 19, 1996
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CU BANCORP
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(Exact name of registrant as specified in its charter)
CALIFORNIA 0-11008 95-657004
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
16030 VENTURA BOULEVARD, ENCINO, CALIFORNIA 91436
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(Address of principal executive office)
Registrant's telephone number, including area code: (818) 907-9122
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ITEM 5. OTHER EVENTS
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On July 18, 1996, the Registrant held its Annual Shareholder Meeting for
1996. At that meeting, the following matters were approved by the shareholders:
1. The Agreement and Plan of Reorganization among CU Bancorp, California
United Bank, Home Interstate Bancorp and Home Bank, providing for the merger
of Home Interstate Bancorp with and into CU Bancorp and the merger of
California United Bank with and into Home Bank (under the name California
United Bank). The vote was:
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
FOR (# of FOR (% of AGAINST (# AGAINST ABSTAIN (# ABSTAIN BROKER BROKER
shares) outstanding of shares) (% of of shares) (% of NON VOTE NON VOTE
shares) outstanding outstanding (# of (% of
shares) shares) shares) outstanding
shares)
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3,428,562 64.86% 14,927 0.28% 21,111 0.40% 1,247,609 23.60%
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</TABLE>
2. Amendment of the Bylaws to decrease the number of directors from a range
of seven to thirteen, to a range of six to eleven. The vote was:
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
FOR (# of FOR (% of AGAINST (# AGAINST ABSTAIN (# ABSTAIN BROKER BROKER
shares) outstanding of shares) (% of of shares) (% of NON VOTE NON VOTE
shares) outstanding outstanding (# of (% of
shares) shares) shares) outstanding
shares)
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4.574,458 86.54% 12,602 0.24% 29,120 0.55% 96,029 1.82%
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</TABLE>
3. The following persons were elected to serve as Directors of the
Registrant:
Kenneth L. Bernstein
Stephen G. Carpenter
Richard Close*
Paul Glass
Ronald Parker
David I. Rainer
There were six nominees for six seats and the nominees were elected by the
affirmative vote of a majority of the outstanding shares of stock.
*In order to facilitate the Merger approved by the Shareholders in Item 1,
Mr. Close has agreed to resign from the Board of Directors of the Registrant
and California United Bank, effective as of the effective time of the Merger.
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In addition, the following matters were approved by the outstanding shares:
4. The CU Bancorp 1996 Employee Stock Option Plan providing for the
reservation of 350,000 shares of CU Bancorp Common Stock for issuance pursuant
to the plan. The vote was:
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
FOR (# of FOR (% of AGAINST (# AGAINST ABSTAIN (# ABSTAIN BROKER BROKER
shares) outstanding of shares) (% of of shares) (% of NON VOTE NON VOTE
shares) outstanding outstanding (# of (% of
shares) shares) shares) outstanding
shares)
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3,611,677 63.60% 326,373 4.47% 74,245 1.40% 1,039,914 19.67%
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</TABLE>
5. The appointment of Arthur Andersen LLP as CU Bancorp's independent
accountants for the fiscal year ending December 31, 1996. The vote was:
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
FOR (# of FOR (% of AGAINST (# AGAINST ABSTAIN (# ABSTAIN BROKER BROKER
shares) outstanding of shares) (% of of shares) (% of NON VOTE NON VOTE
shares) outstanding outstanding (# of (% of
shares) shares) shares) outstanding
shares)
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4,638,313 87.75% 55,904 1.06% 17,992 0.34% N/A N/A
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</TABLE>
6. The amendment of the CU Bancorp Bylaws to be effective at the effective
time of the Merger to provide for a minimum of seven and a maximum of thirteen
directors. The vote was:
<TABLE>
<CAPTION>
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<S> <C> <C> <C> <C> <C> <C> <C>
FOR (# of FOR (% of AGAINST (# AGAINST ABSTAIN (# ABSTAIN BROKER BROKER
shares) outstanding of shares) (% of of shares) (% of NON VOTE NON VOTE
shares) outstanding outstanding (# of (% of
shares) shares) shares) outstanding
shares)
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3,507,636 66.36% 43,363 0.88% 53,111 1.00% 1,105,099 20.91%
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</TABLE>
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7. The approval of the CU Bancorp Conversion Stock Option Plan. The vote
was as follows:
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
FOR (# of FOR (% of AGAINST (# AGAINST ABSTAIN (# ABSTAIN BROKER BROKER
shares) outstanding of shares) (% of of shares) (% of NON VOTE NON VOTE
shares) outstanding outstanding (# of (% of
shares) shares) shares) outstanding
shares)
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3,311,468 62.65% 222,621 4.21% 90,893 1.72% 1,026,793 19.43%
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</TABLE>
8. The amendment of the CU Bancorp 1996 Employee Stock Option Plan at the
effective time of the merger to increase the shares available thereunder to
750,000. The vote was:
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
FOR (# of FOR (% of AGAINST (# AGAINST ABSTAIN (# ABSTAIN BROKER BROKER
shares) outstanding of shares) (% of of shares) (% of NON VOTE NON VOTE
shares) outstanding outstanding (# of (% of
shares) shares) shares) outstanding
shares)
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3,377,216 63.89% 217,307 4.11% 90,893 1.72% 1,026,793 19.43%
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</TABLE>
9. To approve the CU Bancorp 1996 Restricted Stock Plan to replace the
CU Bancorp 1995 Restricted Stock Plan, effective at the effective time of the
Merger. The vote was:
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
FOR (# of FOR (% of AGAINST (# AGAINST ABSTAIN (# ABSTAIN BROKER BROKER
shares) outstanding of shares) (% of of shares) (% of NON VOTE NON VOTE
shares) outstanding outstanding (# of (% of
shares) shares) shares) outstanding
shares)
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3,616,759 68.42% 94,121 1.78% 106,413 2.01% 894,916 16.93%
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</TABLE>
10. To amend the CU Bancorp 1994 Non-Employee Director Stock Option Plan.
<TABLE>
<CAPTION>
- ----------------------------------------------------------------------------------------------------------
<S> <C> <C> <C> <C> <C> <C> <C>
FOR (# of FOR (% of AGAINST (# AGAINST ABSTAIN (# ABSTAIN BROKER BROKER
shares) outstanding of shares) (% of of shares) (% of NON VOTE NON VOTE
shares) outstanding outstanding (# of (% of
shares) shares) shares) outstanding
shares)
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3,377,389 63.89% 124,404 2.35% 94,684 1.79% 1,115,732 21.11%
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</TABLE>
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ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
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2.0 Agreement and Plan of Reorganization by and among CU Bancorp,
California United Bank, National Association, Home Interstate Bancorp and
Home Bank, dated January 10, 1996, as amended March 29, 1996, and Exhibits
thereto filed as Appendix A and Exhibit 2.0 to the Registrant's Registration
Statement on Form S-4 dated June 10, 1996, Registration Number 333-02777.
3(ii)1. Certificate of Amendment of CU Bancorp Bylaws.
3(ii)2. Certificate of Amendment of CU Bancorp Bylaws.
10.1 CU Bancorp 1994 Non-Employee Director Stock Option Plan, Amendment
Number One thereto and Non-Employee Director Stock Option Agreement filed as
Exhibit 10.1 to the Registrant's Annual Report on Form 10-K for the year
ended December 31, 1995, Exhibit 10.6 and Exhibit 10.6 to the Registrant's
Registration Statement on Form S-4 dated June 10, 1996, Registration Number
333-02777, respectively.
10.2 CU Bancorp's 1996 Employee Stock Option Plan, Incentive Stock Option
Agreement, Non-Qualified Option Agreement, filed as Exhibit 10.7 to the
Registrant's Registration Statement on Form S-4 dated June 10, 1996,
Registration Number 333-02777.
10.3 CU Bancorp's 1996 Restricted Stock Plan, filed as Exhibit 10.7 to
the Registrant's Registration Statement on Form S-4 dated June 10, 1996,
Registration Number 333-02777.
10.4 CU Bancorp Conversion Stock Option Plan, filed as Exhibit 10.8
to the Registration Statement on Form S-4 dated June 10, 1996, Registration
Number 333-02777.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: July 23, 1996 CU BANCORP
/s/ PATRICK HARTMAN
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Patrick Hartman
Chief Financial Officer
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Exhibit 3(ii)1.
CERTIFICATE OF AMENDMENT TO BYLAWS OF
CU BANCORP
A California Corporation
ARTICLE III
Directors
Section 3.2. Number of Directors. The affairs of the corporation
shall be managed by a board of directors consisting of not less than seven (7)
nor more than thirteen (13) directors.
I, Anita Y. Wolman, Certify that: I am the duly constituted Assistant
Secretary of CU Bancorp, and as such officer am the official custodian of its
records and that the foregoing Amendment to Article III Section 3.2. to the
Bylaws of the Corporation is now lawfully in force and effect.
IN TESTIMONY WHEREOF, I have hereunto affixed my official signature and
the seal of said Corporation, in the City of Los Angeles, California, on the
22nd day of July 1996.
/s/ Anita Y. Wolman
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Anita Y. Wolman, Assistant Secretary
CU Bancorp
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Exhibit 3(ii)2.
CERTIFICATE OF AMENDMENT OF BYLAWS
OF
CU BANCORP
A California Corporation
RESOLVED, that Article III, Section 3.2. to the Bylaws of CU Bancorp be
amended to provide that the minimum number of directors be six and the maximum
be eleven;
FURTHER RESOLVED THAT, at the Effective Time of the Merger by and among
CU Bancorp and California United Bank, N.A. with Home Interstate Bank and Home
Bank, under the Agreement and Plan of Reorganization dated as of January 10,
1996 as amended on March 29, 1996, Article III, Section 3.2. of the Bylaws be
amended to return to a board of no less than seven and no more than thirteen
directors.
I, Anita Y. Wolman, Assistant Secretary of CU Bancorp, do hereby
certify the foregoing to be a full, true, and correct copy of a resolution
duly adopted at the annual meeting of shareholders of said Corporation held
on July 18, 1996.
WITNESS my hand and the seal of said Corporation, this 22nd day of July
1996.
/s/ Anita Y. Wolman
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Anita Y. Wolman, Assistant Secretary
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CU BANCORP
