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Unionbancal Corp

BUSINESS
May 6, 1997
Companies ranked by market value, which is stock price times the number of shares outstanding. Also shown: book value, which is a company's theoretical liquidation value, and the market-to-book ratio for each company. *--* 4/18/97 Book Market- '95 market value Value to-book Rank Rank Company (millions) (millions) ratio 1 1 Intel Corp. $112,100 $16,872 6.64% 2 3 Walt Disney Co. 51,817 16,086 3.22 3 2 Hewlett-Packard Co. 50,682 13,438 3.77 4 4 Chevron Corp. 42,223 15,623 2.7 5 BankAmerica Corp.
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BUSINESS
August 14, 2008 | From Times Wire Services
UnionBanCal Corp. said Mitsubishi UFJ Financial Group Inc.'s $3-billion bid to buy the lender "substantially undervalues UnionBanCal." The $63-a-share offer "is not in the best interest of UnionBanCal's minority stockholders," the San Francisco-based bank said.
BUSINESS
May 18, 2004 | From Associated Press
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.
BUSINESS
September 26, 2009 | Times Wire Services
UnionBanCal Corp. said it would receive a $2-billion capital infusion from its parent company, Bank of Tokyo-Mitsubishi UFJ Ltd., by Monday. The money will help San Francisco-based UnionBanCal offset potential future credit losses if economic conditions result in a worst-case scenario, said Chief Executive Masaaki Tanaka.
BUSINESS
April 24, 2008 | From Times Wire Services
UnionBanCal Corp., the parent of Union Bank of California, said earnings fell about 27% in the first quarter as it set aside more funds for potential losses from a slump in the residential housing market. UnionBanCal said earnings were $108.6 million, or 79 cents a share, down from $149.6 million, or $1.07 a share, a year earlier. UnionBanCal's total provision for credit losses in the quarter was $80 million, an increase of $20 million compared with the fourth quarter, driven by the need to add to reserves for its home builder segment.
BUSINESS
January 20, 2006 | From a Times Staff Writer
City National Corp. of Beverly Hills, parent of City National Bank, reported 2005 net income of $235 million, or $4.60 a share, compared with $206 million, or $4.04 a share, for 2004. Revenue rose 12%, to $821 million. For the fourth quarter, net income was $61.8 million, or $1.21 a share, up from $49.7 million, or 97 cents a share, for the same period in 2004. City National also said its board raised its annual cash dividend to $1.64 a share, up from $1.44.
BUSINESS
July 9, 1999
* Kevin Shannon, managing director of Seeley Co.'s investmentdivision, has joined commercial real estate services firm Grubb & Ellis Co. as a senior vice president of its investment services group. Based in Los Angeles, he will focus on office, industrial and retail investment. * Robert N. Alpert has been named a vice president of Union Bank of California's community banking group. Los Angeles-based Union Bank is a division of UnionBanCal Corp., a San Francisco-based bank holding company.
BUSINESS
June 11, 1999 | Edward Sanders
Two major banks have suspended participation in a telemarketing program that has fueled a national debate on whether financial institutions should sell customer information to third parties. San Francisco-based Union Bank of California instructed MemberWorks Inc., which sells health- and dental-care discounts, to stop marketing to Union Bank customers pending a review of the arrangement, a spokeswoman said.
BUSINESS
November 12, 1999
* Barry Plaga, executive vice president and chief financial officer of Activision Inc., has resigned for personal reasons. The Santa Monica-based interactive software maker said it will conduct a nationwide search to find a replacement. In the interim, Rasmus Van Der Colff, vice president of finance, will serve as CFO, the company said. * Nick Valestrino has been promoted president of L.A. Label, a privately held Commerce-based label and tag maker. * Mortgage lender Countrywide Home Loans Inc.
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