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Saturday, November 21, 2009 10:05 PM

Published 11/07/2009 by Xinhua News Agency


United Commercial Bank 120th bank to fail in U.S.

LOS ANGELES, Nov. 7 (Xinhua) -- 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 Department of Financial Institutions has approved overnight the purchase of the debt-laden bank...

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What others report on the same story

And even more bank closings
Silly bankers. They should have sold out to one of the big players on Wall Street. They would still be in action and flush with cash.Regulators on Friday shut ... - [11/08/2009 - AMERICAblog News| A great nation deserves the t ...]
East West Bancorp Announces Conference Call to ...
East West Bancorp EWBC today announced the acquisition of the operations of United Commercial Bank in an FDIC assisted transaction. East West will host a call to ... - [11/07/2009 - Business Wire via MSN Money]
UPDATE 2-Big California bank fails, has China b...
* 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 ... - [11/07/2009 - Reuters UK]

Quotes

...officials said. "This is a transformational event for both institutions and represents an exciting growth opportunity for East West Dominic Ng, Chairman, President and Chief Executive Officer of East West, said in a statement."
United Commercial Bank 120th bank to fail in U.S. [Xinhua News Agency - 11/07/2009]

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And even more bank closings [AMERICAblog News| A great nation deserves the t ... - 11/08/2009]
Silly bankers. They should have sold out to one of the big players on Wall Street. They would still be in action and flush with cash.Regulators on Friday shut ...
Tracking Bank Failures: United Commercial Becom... [WSJ.com: Deal Journal - 11/09/2009]
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