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Federal regulators closed San Francisco’s troubled — one of the nation’s largest banks serving the Chinese-American community — and sold the bank and its $6.5 billion in deposits to East West Bancorp. Full Article at San Jose Business Journal
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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
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transformational event for both institutions and represents an exciting growth opportunity for East West," East West President and CEO Dominic Ng said. "East West and UCB share a rich cultural heritage. Full Article at SGVTribune.com
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Federal regulators closed San Francisco’s troubled United Commercial Bank — one of the nation’s largest banks serving the Chinese-American community — and sold the bank and its $6.5 billion in deposits to East West Bancorp. Full Article at San Francisco Business Times
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Toppled by loan losses and misstated financial reports, San Francisco's United Commercial Bank was shut down by regulators tonight and immediately sold to Pasadena's East West Bancorp, creating by far the largest U.S. bank focused on the Chinese... Full Article at Los Angeles Times
