Re: EAST WEST BANK News Buyout of UCBH 47 minutes ago http://www.sgvtribune.com/business/ci_13... PASADENA - East West Bank, among the largest of community banks, has emerged as a potential buyer of United Commercial Bank - which analysts warn is taking heavy hits from bad loans and dwindling capital.
"We just can't make any comment," said Emily Wang, marketing director for Pasadena-based East West, which serves consumers and businesses at 71 branches across the San Gabriel Valley, California, Texas and China. Among industry observers, the bank - with $12.7 billion in assets - has emerged as a logical suitor for San Francisco-based United Commercial (UCBH), which has $12.8 billion in assets and serves a similar clientele - notably catering to Chinese trade and finance.
Day dreaming, EWBC still lost, do same business of UCBH. EWBC the branches even smaller than UCBH. EWBC stock price too high, you will see Nov, dec, stock price will lower after UCBH restatement of 2008, Q1- Q3 2009 and with MinSheng back up. The Shorter will strong sell EWBC to push up UCBH
Based on what I've heard of EWBC, I think they will not take this risk of buying out UCBH because UCBH is almost a goner. The bank might close anyday now. EWBC, with Dominic as CEO, will not waste his time stressing over the acquisition. He has his own bank to worry about.
This tells you how desparate FDIC is. EWBC has their own problem. How much did they write down since the recession started? How much commercial real estate loans do they have in Inland Empire? FDIC are total idiots if they roll EWBC with UCBH. You just get a bigger problem.