Morning Movers 11/09: EWBC, CVM, REV, CGEN, RSH Higher; CHDX, SR...

Courtesy StreetInsider.com News Articles  Mon, 11/09/2009 - 09:47

East West Bancorp, Inc. (NASDAQ: EWBC) 49.1% HIGHER; announced today that it has acquired the banking operations of San Francisco, California based United Commercial Bank in a FDIC assisted transaction.

Under the terms of the transaction, East West will receive $10.4 billion in assets, including $7.7 billion in loans, and assume $9.2 billion in liabilities, including $6.5 billion in deposits of UCB.

The FDIC and East West have entered into a loss sharing agreement covering substantially all acquired loans.

The...


 

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