UPDATE 2-Big California bank fails, has China branches
Big San Francisco bank serving Chinese community closed * UCB, bought by East West, is 120th U.S. failure this year * Beijing says China operations of closed bank are sound (Adds Chinese regulator, Minsheng background in paras... [read full story]
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California bank failure to cost FDIC $1.4 billion (at MarketWatch)
By MarketWatch This update corrects an error on bank failures in Illinois. SAN FRANCISCO (MarketWatch) -- Five more banks, including a California-based institution that reportedly received federal bailout funds in 2008, were...
Bank Failure Friday Fells Another "Healthy Bank" Bailout Recipient
San Francisco-based United Commercial Bank has become the first recipient of TARP bailout money to be shut down by the FDIC. Last year, regulators approved a $299 million taxpayer funded injection into the bank. That money,...
FDIC seizes, sells 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. (EWBC)
East West shares soar after buying United Commercial Bank
Silicon Valley / San Jose Business Journal were up about 46 percent Monday after an announcement Friday that it bought United Commercial Bank and its $6.5 billion in deposits. East West paid a premium of 1.1 percent for the...
UCBH Holdings' Bank Is Seized, 120th U.S. Lender Shut This Year
UCBH Holdings Inc.'s United Commercial Bank, a San Francisco-based lender with $11.2 billion in assets, was seized by regulators, becoming the 120th U.S. bank to fail this year. United Commercial was bought by East West Bancorp...
Failed Bank Toll Keeps Rising
California bank with Chinese ties is 120th to fail By Mark Huffman ConsumerAffairs.com The Federal Deposit Insurance Corporation says five more U.S. banks failed last week, including United Commercial Bank, a San...
FDIC sells United Commercial Bank to East West
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. (EWBC)
Bank Failures – This Time We Dig Into The Facts
Yesterday’s five bank failures bring the number of banks to fail during this economic storm to 120. Should these bank failures come as a surprise? No, some were already slapped with a Cease and Desist order prior to the FDIC...
United Commercial Bank 120th bank to fail this year in U.S.
The San Francisco-based United Commercial Bank reopen Saturday as branches of East West Bank after it was shut down by regulators Friday night and immediately sold to the Pasadena-based East-West Bancorp. The California...
Five bank closures to cost FDIC fund $1.5 bln (at MarketWatch)
New round of bank closures to cost FDIC $1.5 billion By MarketWatch 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....
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