Announced
Completed
Financials
Tags
Banks
Private
Single Bidder
United States
Domestic
Friendly
Acquisition
bank branches
Majority
Completed
Synopsis
Cathay Bank, a California state-chartered bank, completed the acquisition of 10 retail branches in California from HSBC, a British multinational investment bank and financial services holding company. Financial terms were not disclosed. “This acquisition complements and strengthens our existing footprint. The combined client base will benefit from a broadened suite of Cathay products and services and an extended branch network in the West,” Chang Liu, Cathay Bank President and CEO.
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