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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