Cathay Bank completed the acquisition of 10 retail branches in California from HSBC.

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.