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FDIC: East West Bank, Pasadena Assumes All the Deposits of United Commercial Bank, San Francisco

November 6, 2009 - United Commercial Bank, San Francisco, California, was closed today by the California Department of Financial Institutions, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. Full Article at YubaNet

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  1. Former United Commercial Bank branches reopened Saturday as East West Bank branches in a move that will make East West the second-largest independent bank headquartered in the state, officials said. Full Article at SGVTribune.com

  2. SAN FRANCISCO (MarketWatch) -- A California-based bank that focused on the Chinese-American market was the largest of five failures on Friday that cost U.S. taxpayers more than $1.5 billion. Full Article at MarketWatch

  3. HONG KONG, Nov. 7 (Xinhua) -- The deposits at the United Commercial Bank Hong Kong (UCBHK) will continue to be fully covered by the city's deposit protection schemes, the Hong Kong Monetary Authority announced Saturday. Full Article at Xinhua

  4. Pacific Northwest and Houston, along with operations in China. United Commercial Bank, a Bay Area bank with branches in the East Bay and South Bay has been seized by regulators, who turned over the bank's assets to East West Bank. Full Article at Inside Bay Area

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