San Francisco Business Times logo San Francisco Business Times 3 weeks ago

FDIC seizes United Commercial Bank

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

Related Topics:

  1. FDIC
  2. Federal Deposit Insurance Corp.
  3. NASDAQ

Related Articles

  1. United Commercial Bank to Reopen Under East West Flag
    3 weeks ago

    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. East West Bankcorp Inc. acquires United Commercial Bank
    3 weeks ago

    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

  3. Los Angeles Times logo
    United Commercial Bank is shut down, sold to East West Bancorp
    3 weeks ago

    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

Related Quotes

  1. The most prominent area of risk for rising credit losses at FDIC-insured institutions during the next several quarters is in CRE lending
    Sheila Bair – Sheila Bair SOURCE: Bloomberg.com 3 weeks ago
(What's this?)
  1. Are you a Publisher?

    We built Daylife.com using our SmartMedia Services platform, which can give you thousands of content-rich, advertiser-friendly pages (like this one) on any topic and with full editorial control. Learn More »

    Our Customers
    prev
    next
  2. Our Products
    Daylife Select

    A point & click tool to create dynamic content portals. Learn More »

  3. Daylife API

    Unlimited smart, customizable content to suit any publisher. Learn More »

  4. Enterprise API

    Use the Daylife Platform to distribute content across your sites. Learn More »

  5. SmartContext

    Weave the web's best content into your own. Learn More »

Browse More Photos

Daylife is the web's largest archive of news photos

  1. Actress Rhona Mitra arrives as a guest at the premiere of the film "Up In The Air" in Los Angeles, California November 30, 2009.
  2. CAMP PENDLETON - NOVEMBER 30: Four-time NASCAR Sprint Cup Champion Jimmie Johnson, driver of the #48 Lowe's Chevrolet, climbs out of his car to meet with members of the military at Camp Pendelton on November 30, 2009 in Oceanside, California.
  3. OAKLAND, CA - NOVEMBER 30: Danny Granger #33 of the Indiana Pacers shoots over Vladimir Radmanovic #77 of the Golden State Warriors at Oracle Arena on November 30, 2009 in Oakland, California.
  4. WESTWOOD, CA - NOVEMBER 30: Producer Ivan Reitman (L) and director Jason Reitman arrive at the premiere of Paramount Pictures' 'Up In The Air' held at Mann Village Theatre on November 30, 2009 in Westwood, California.
  5. THOUSAND OAKS, CA - NOVEMBER 30: Groundskeeper Tom Lynam prepares the main scoreboard before the Chevron World Challenge at Sherwood Country Club on November 30, 2009 in Thousand Oaks, California.
  6. RNPS IMAGES OF THE YEAR 2009 - A handmade sign painted on the side of a pickup truck reading "hard worker" is shown in San Francisco, California, January 25, 2009.
  7. SAN FRANCISCO - NOVEMBER 25: Pedestrians walk by an advertisement for Thanksgiving Day hours at an American Eagle store November 25, 2009 in San Francisco, California.
  8. SAN FRANCISCO - NOVEMBER 25: Hells Angels motorcycle club member Tony carries plants as he helps set tables at the St. Anthony Foundation dining room November 25, 2009 in San Francisco, California.
  9. SAN FRANCISCO - NOVEMBER 23: Workers sort through boxes of squash in the warehouse at the San Francisco Food Bank November 23, 2009 in San Francisco, California.

Cast of Characters

  1. FDIC FDIC
  2. Federal Deposit Insurance Corp.
  3. Federal Deposit Insurance Corporation
  4. Financial Institutions, Inc.
  5. NASDAQ NASDAQ
  6. Xinhua