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Saturday, November 21, 2009 6:54 AM

United Commercial Bank Ltd.

Type: Company
Name: United Commercial Bank Ltd. (United Commercial Bank Ltd)
First Reported 5 hours ago - Updated 3 hours ago - 2 Documents
Small Florida bank shuttered, 124th this year
WASHINGTON— Florida banking regulators on Friday shut down Commerce Bank of Southwest Florida, marking the 124th U.S. bank to succumb this year to the struggling economy and rising loan defaults. The Federal Deposit Insurance Corp. took over the small ... [Economy-Finance - 3 hours ago]
First Reported 23 hours ago - Updated 23 hours ago - 1 Documents
US Blocks Minsheng's Buyout, Touted to Save $1.7 Billion
U.S. regulators blocked the Chinese bank Minsheng from acquiring United Commercial Bank in a deal that could have saved $1.7 billion in taxpayers' money and insurance, Financial Times reported on Thursday, citing people familiar with the matter.Minsheng ... [CNBC - 23 hours ago]
First Reported 11/17/2009 - Updated 11/17/2009 - 5 Documents
Time Warner Inc - Click to view image in its original context
Time Warner Inc
3 worst deals of 2009
(Fortune magazine) -- Thanksgiving is upon us. That makes it a perfect time to contemplate turkeys -- as in "What a turkey that deal was!" Almost all of this year's winners have some connection to the federal government, because the feds have been such ... [Fortune - 11/17/2009]
First Reported 11/16/2009 - Updated 11/16/2009 - 2 Documents
EDITORIAL: Oversight an issue at bank: More transparency needed of TARP work with financial institutions.
(The Fresno Bee - McClatchy-Tribune Information Services via COMTEX) --It is tempting to dismiss Friday's forced closure of United Commercial Bank of San Francisco as an isolated problem of one troubled institution. But this case has broader implications ... [Individual.com - 11/16/2009]
First Reported 11/17/2009 - Updated 11/17/2009 - 1 Documents (in Internet & IT)
American International Group Inc - Click to view image in its original context
American International Group Inc
TARP recipients falling behind on payments
Especially in light of the soft touch on Wall Street, this is very troubling. Neither the Bush administration nor the Obama administration has had the stomach to be firm with the financial industry despite their deep responsibility for the recession. ... [AMERICAblog News| A great nation deserves the t ... - 11/17/2009]
First Reported 11/17/2009 - Updated 11/17/2009 - 1 Documents
Sun Life Financial Inc - Click to view 360-page
Sun Life Financial Inc
Human Capital: People on the Move, Nov. 17
A daily roundup of senior-level executive hires and board appointments: Tuesday, Nov. 17: The U.S. division of Sun Life Financial Inc. in Wellesley appointed the following to Sun Life Financial Distributors Inc., its wholesaling and marketing organization: ... [Biz Journals - 11/17/2009]
First Reported 11/18/2009 - Updated 11/18/2009 - 1 Documents
Federal Reserve System - Click to view image in its original context
Federal Reserve System
Carry Trade Has Created Asset Bubbles
But the Fed's vice-chairman Donald Kohn disagrees.Editor's Note: This article was written by Richard Suttmeier, chief market strategist at ValuEngine.com, which is a fundamentally-based quant research firm in Princeton, New Jersey, that covers more than ... [Minyanville - 11/18/2009]
First Reported 11/14/2009 - Updated 11/14/2009 - 1 Documents
Regulators Seize Another Recipient of TARP ‘Healthy Bank’ Bailout
by Paul Kiel, ProPublica - November 14, 2009 12:09 am EST Regulators seized three banks yesterday, bringing the toll of failed banks for the year to 123. As always, we’ve updated our list of failed banks.One of the banks closed yesterday was ... [ProPublica: Articles and Investigations - 11/14/2009]
First Reported 11/14/2009 - Updated 11/14/2009 - 1 Documents
If your bank fails, will you be ready?
More than 100 banks have gone belly up in 2009 alone. Your bank could be next, so figure out now how much of your money is protected -- and how much isn't.[Related content: banking, banks, financial crisis, retirement savings, mutual funds]If you've heard ... [MSN Money - 11/14/2009]
First Reported 11/14/2009 - Updated 11/14/2009 - 1 Documents
First Bailed-Out Bank to be Shut Down by FDIC; Taxpayers Lose Another $1.4 Billion
On top of the $3.2 billion lost earlier this month when CIT filed for bankruptcy, the federal government’s bank rescue effort is now out of another $1.7 billion because of the collapse of United Commercial Bank. The San Francisco-based bank has the distinction ... [AllGov - 11/14/2009]
First Reported 11/16/2009 - Updated 11/16/2009 - 1 Documents
CIT's bankruptcy raises new questions about bailout
NEW YORK -- A year ago, the financial system was tottering and government officials arranged a $2.3 billion emergency cash infusion into CIT Group, a troubled lender to small businesses.Today, CIT is in bankruptcy court, and the taxpayers' investment ... [Washington Post - 11/16/2009]
First Reported 11/07/2009 - Updated 11/08/2009 - 13 Documents (in Internet & IT)
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 banks in Georgia, Michigan, Minnesota, Missouri, and California, bringing the number of bank ... [AMERICAblog News| A great nation deserves the t ... - 11/08/2009]

Quotes

...Emily Wang, director of marketing for the East West Bank, told Xinhua in an e-mail Tuesday, "The acquisition will not affect the operations of the former UCB in China at all. 'It will be business as usual for a while. After we stabilize the operations we will consider growth and expansion,' Wang said. The CBRC said foreign banks were operating normally in China, with capital adequacy ratios at 21.14 percent, liquidity ratios at 59.01 percent, bad loan ratios at 1.06 percent and loan loss provision adequacy rates at 123.55 percent."
Minsheng: UCB closure no major impact [CHINAdaily - 11/10/2009]
"Since we have already made relatively adequate loss provisions for UCBH, we think that the closure of United Commercial Bank won't have a huge impact on our operations or profits."
UPDATE 1-China Minsheng's US bank loss to have limited impact [Reuters UK - 11/10/2009]
...in non-performing loan levels; (6) the Company's financial results were not prepared in accordance with Generally Accepted Accounting Principles ( "GAAP'); (7) the Company lacked adequate internal and financial controls; and (8) as a result of the above, the Company's financial statements were overstated and materially false and misleading at all relevant times."
Glancy Binkow & Goldberg LLP, Representing Shareholders of UCBH [GlobeNewswire via MSN Money - 10/15/2009]

More Content

All (152) | News (140) | Reports (0) | Blogs (11) | Audio/Video (0) | Fact Sheets (1)
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Stillwater bank takes over small Florida bank [Minneapolis Star Tribune - 5 hours ago]
US Blocks Minsheng's Buyout, Touted to Save $1.... [CNBC - 23 hours ago]
Carry Trade Has Created Asset Bubbles [Minyanville - 11/18/2009]
Human Capital: People on the Move, Nov. 17 [Biz Journals - 11/17/2009]
3 worst deals of 2009 [Fortune - 11/17/2009]
3 worst business deals of 2009 [CNN Money - 11/17/2009]
3 worst deals of 2009 [CNN - 11/17/2009]
3 worst deals of 2009 [CNN Money - 11/17/2009]
Deals: The financial world's turkeys of the year [Washington Post - 11/17/2009]
EDITORIAL: Oversight an issue at bank: More tra... [Individual.com - 11/16/2009]
EDITORIAL: Oversight an issue at bank: More tra... [Individual.com - 11/16/2009]
CIT's bankruptcy raises new questions about bai... [Washington Post - 11/16/2009]
Taxpayers on hook as bailed-out firms fail: Ana... [Washington Post - 11/15/2009]
Pacific Coast National Bank closed [Cambodian Times - 11/14/2009]
Regulators Seize Another Recipient of TARP ‘Hea... [ProPublica: Articles and Investigations - 11/14/2009]
First Bailed-Out Bank to be Shut Down by FDIC; ... [AllGov - 11/14/2009]
If your bank fails, will you be ready? [MSN Money - 11/14/2009]
Regulators close Orion Bank and Century Bank in... [Yahoo! Canada - 11/14/2009]
Sunwest Bank, Tustin, California, Assumes All o... [FDIC - 11/14/2009]
J. C. Penney Boosts Outlook [About - 11/13/2009]
Abercrombie & Fitch Beats [About - 11/13/2009]
Troubled Bay Area banks begin to topple [San Francisco Chronicle - 11/13/2009]
Churchill Downs To Acquire Youbet.com [About - 11/12/2009]
Minsheng offering draws US$14b of orders from g... [South China Morning Post - 11/12/2009]
Failure of bailed-out bank draws scrutiny to go... [RBC Dain Rauscher - 11/12/2009]
Finance Layoffs: East West Bancorp and Citizens [TheDeal.com - 11/12/2009]
Not a New Bull Market for Stocks [Seeking Alpha - 11/12/2009]
Why No Outcry Over CIT? [Forbes.com - 11/12/2009]
Jennifer Openshaw: If the next bank failure is ... [MarketWatch - 11/12/2009]
If the next bank failure is yours are you ready? [MarketWatch - 11/12/2009]
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In Focus
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Thomas Wu, Arnold Schwarzenegger, Jennifer Openshaw, [more]
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East West Bank, East West Bancorp Inc, UCBH Holdings Inc, [more]
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Federal Deposit Insurance Corporation, California Department of Financial In ..., Italian Winter Sports Federation, [more]
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Acquisition, Dividend, Chinese-Americans, [more]
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San Francisco (United States), Shanghai, Pasadena (California, United States), [more]
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China, United States, Hong Kong, [more]
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Internet & IT, Financial Reporting, Mergers & Acquisitions, [more]
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Banking & Financial Services, IT, Real Estate, [more]
About, Zibb, Individual.com, [more]
Content Volume
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Blogs

sort by: Date | Relevance
Small Florida bank shuttered, 124th this year [Economy-Finance - 3 hours ago]
WASHINGTON— Florida banking regulators on Friday shut down Commerce Bank of Southwest Florida, marking the 124th U.S. bank to succumb this year to the struggling ...
TARP recipients falling behind on payments [AMERICAblog News| A great nation deserves the t ... - 11/17/2009]
Especially in light of the soft touch on Wall Street, this is very troubling. Neither the Bush administration nor the Obama administration has had the stomach to ...
November 15 2009: Instant gratification [The Automatic Earth - 11/15/2009]
Unknown Colorado man c. 1900 Ilargi: The desire for instant gratification has apparently pervaded all aspects of the times we live in, including the collapse of ...
East West Bancorp shares soar on United Commerc... [The Deal.com - 11/09/2009]
Pasadena, Calif.-based East West Bancorp. made its largest acquisition to date, buying San Francisco's United Commercial Bank from the Federal Deposit Insurance ...
East West Bancorp shares soar on United Commerc... [Dealscape - 11/09/2009]
Pasadena, Calif.-based East West Bancorp. made its largest acquisition to date, buying San Francisco's United Commercial Bank from the Federal Deposit Insurance ...
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