September 23, 2005 |
Wachovia Corp. plans to buy the international banking business of Union Bank of California for as much as $290 million in cash to shore up the Charlotte, N.C., financial services company's presence in several Asian cities, including New Delhi and Hanoi. The acquisition would give Wachovia control of Union Bank's relationships with 600 foreign banks plus a $2-billion loan portfolio. An undisclosed number of Union Bank's executives and employees would join Wachovia.
March 18, 2005 |
Shuffling its top management, UnionBanCal Corp. has named commercial-banking specialist Philip B. Flynn to the newly created post of chief operating officer, putting him in charge of all business units at the San Francisco-based bank. Flynn said Thursday that he would work from Los Angeles, where he has spent his entire 24-year career at UnionBanCal, the parent of Union Bank of California.
July 3, 2004 |
Aiming to strengthen its presence in the growing Southern California market, UnionBanCal Corp., the parent of Union Bank of California, announced plans Friday to acquire Brea-based Jackson Federal Bank for $305 million. Jackson Federal, with $1.9 billion in assets, has 14 branches in Los Angeles, Orange and San Bernardino counties, including L.A., Glendale, Santa Monica and Fullerton.
May 18, 2004 |
CNA Financial Corp. said it has agreed to sell its CNA Trust business to Union Bank of California. Financial terms weren't disclosed for the transaction, which is expected to be completed on or before the end of the third quarter. Union Bank of California is a subsidiary of San Francisco-based holding company UnionBanCal Corp. CNA Trust, based in Costa Mesa, helps other financial institutions offer 401(k) plan services.
CALIFORNIA | LOCAL
March 25, 2004 |
Three gunmen escaped with more than $75,000 from a supermarket bank branch in Porter Ranch on Wednesday night after forcing the bank manager to open the vault, police said. The men, who wore dark ski masks and dark clothes, entered the Ralphs supermarket in the northern San Fernando Valley just after 7 p.m. The robbers pulled out handguns and ordered the manager of the Union Bank of California branch to open the safe.
October 4, 2000 |
Operation HOPE, Union Bank of California and Nix Check Cashing have opened their first joint service centers, providing banking and small-business services and financial counseling in underserved areas. The centers should also help mute criticism that Union Bank's purchase of a 40% share of Nix last March exploited low-income consumers by offering them relatively high-cost check cashing in place of formal banking services.