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News Breaks
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November 8, 2009
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| 18:47 EDT |  | EWBC |
| theflyonthewall.com: | East West Bancorp acquires the banking operations of United Commercial Bank | | East West Bancorp (EWBC), parent company of East West Bank, announced that it has acquired the banking operations of San Francisco, California based United Commercial Bank in a Federal Deposit Insurance Corp-FDIC-assisted transaction. Under the terms of the transaction, East West will receive $10.4B in assets, including $7.7B in loans, and assume $9.2B in liabilities, including $6.5B in deposits of UCB. The FDIC and East West have entered into a loss sharing agreement covering substantially all acquired loans. :theflyonthewall.com |
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