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California Bank to Buy its First New York Branch

NEW YORK CITY-United Commercial Bank, which serves the ethnic Chinese community through 30 California branches from Los Angeles to Sacramento, will establish a New York beachhead with the acquisition of Broadway National Bank's Brooklyn Branch.

By Glen Thompson | Updated on September 23, 2002

NEW YORK CITY-San Francisco-based UCBH Holdings Inc., holding company of United Commercial Bank, has signed an agreement to acquire the Brooklyn Branch of Broadway National Bank. United Commercial says the move marks the beginning of its expansion into the New York market with retail locations serving the area’s large ethnic Chinese community.

UCBH will acquire the deposit portfolio of the branch, which totaled $12.8 million as of June 30, 2002, as well as the roughly 3,000-sf branch facility at 1801 Church Ave.

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