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BUSINESS
August 20, 1996
The Federal Reserve Board on Monday approved the acquisition of Marine National Bank by a major South Korean bank. The board voted 7 to 0 in favor of Marine's acquisition by Shinhan Bank of Seoul for $13 million in cash. Marine shareholders had approved the transaction in February. Mark E.
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BUSINESS
December 22, 1998
Utah-based First Security Corp. said Monday it completed its previously announced acquisition Marine National Bank in Irvine. Terms of the buyout announced Oct. 1 weren't disclosed. Marine's former owner, Shinhan Bank of South Korea, paid $13 million for the three-branch institution in 1995. Marine's branches are in Irvine, Newport Beach and Orange. Salt Lake City-based First Security is the second-largest bank holding company in the West.
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BUSINESS
October 29, 1998 | Bloomberg News
Korea's Shinhan Bank said Wednesday that it completed the sale of Irvine-based Marine National Bank to First Security Corp. of Salt Lake City for an undisclosed price. Shinhan paid $12 million, or $9.90 a share, when it acquired Marine National three years ago. The sale will generate as much as $20 million for Shinhan, the bank said. Marine has branches in Irvine, Newport Beach and Orange.
BUSINESS
October 29, 1998 | Bloomberg News
Korea's Shinhan Bank said Wednesday that it completed the sale of Irvine-based Marine National Bank to First Security Corp. of Salt Lake City for an undisclosed price. Shinhan paid $12 million, or $9.90 a share, when it acquired Marine National three years ago. The sale will generate as much as $20 million for Shinhan, the bank said. Marine has branches in Irvine, Newport Beach and Orange.
BUSINESS
December 22, 1998
Utah-based First Security Corp. said Monday it completed its previously announced acquisition Marine National Bank in Irvine. Terms of the buyout announced Oct. 1 weren't disclosed. Marine's former owner, Shinhan Bank of South Korea, paid $13 million for the three-branch institution in 1995. Marine's branches are in Irvine, Newport Beach and Orange. Salt Lake City-based First Security is the second-largest bank holding company in the West.
BUSINESS
September 19, 1995 | DAN MARGOLIS, SPECIAL TO THE TIMES
In the latest transaction involving an Orange County community bank, Marine National Bank has agreed to be acquired by a major South Korean bank for $13 million in cash. Marine National's acquisition by Shinhan Bank of South Korea is the eighth involving a community bank in the county in the last year. Unlike most other recent bank sales, however, Marine National will retain its separate identity and current management. Marine National will operate as a subsidiary of the Korean bank.
BUSINESS
October 2, 1998
Marine National Bank, an Irvine-based institution with three branches, is being sold by its South Korean parent corporation, Shinhan Bank, to First Security Corp. of Salt Lake City. Financial terms of the agreement were not disclosed in the announcement Thursday; Shinhan paid $13 million three years ago when it acquired Marine National.
BUSINESS
August 20, 1996
The Federal Reserve Board on Monday approved the acquisition of Marine National Bank by a major South Korean bank. The board voted 7 to 0 in favor of Marine's acquisition by Shinhan Bank of Seoul for $13 million in cash. Marine shareholders had approved the transaction in February. Mark E.
BUSINESS
September 19, 1995 | DAN MARGOLIS, SPECIAL TO THE TIMES
In the latest transaction involving an Orange County community bank, Marine National Bank has agreed to be acquired by a major South Korean bank for $13 million in cash. Marine National's acquisition by Shinhan Bank of South Korea is the eighth involving a community bank in the county in the last year. Unlike most other recent bank sales, however, Marine National will retain its separate identity and current management. Marine National will operate as a subsidiary of the Korean bank.
BUSINESS
June 30, 2001 | From Bloomberg News
First American Corp., the second-largest provider of title insurance in the U.S., is entering the Korean market to tap growing demand for insurance for real estate and other assets. Korea's Financial Supervisory Commission, which decides rules for the industry, said it approved a proposal allowing Santa Ana-based First American to set up a Korean branch. First American's stock closed Friday at $18.94, off 48 cents a share, on the New York Stock Exchange.
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