On Friday, November 6, 2009, United Commercial Bank, San Francisco, CA was closed by the California Department of Financial Institutions. Subsequently, the Federal Deposit Insurance Corporation (FDIC) was named Receiver. No advance notice is given to the public when a financial institution is closed. All deposit accounts, excluding certain brokered deposits, have been transferred to East West Bank, Pasadena, CA.

United Commercial Bank (UCB) is an overseas Chinese bank in the United States, based in San Francisco, CA. It is a subsidiary of UCBH Holdings. Founded in 1974 as United Federal Savings and Loan Association, it changed its name to United Savings Bank, and finally United Commercial Bank in 1998. It has operations and branches located in the San Francisco Bay Area, Sacramento, Stockton, Los Angeles and Orange Counties, New York, Boston, Greater Seattle Area, Hong Kong, Atlanta, Houston, Shanghai and two representative branches in Taipei, Taiwan and Shenzhen, China.

On January 11, 2007, UCBH announced that it was acquiring The Chinese American Bank with branch locations in Manhattan, New York and Flushing, New York. The deal is expected to close in the second quarter of 2007. On March 27, 2007, it was announced that UCBH would acquire Business Development Bank.

Tags: east west bank, fdic, fdic ucb bank, fdic united commercial bank, ucb, ucb bank, united commercial bank, united commercial bank shut down

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