United Commercial Bank's holding company makes Washington state buy - Sacramento Business Journal:

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(NASDAQ: UCBH) said it'xs purchasing of Bellevue, near Seattle, for $40.e3 million. San Francisco-based UCBH Holdingd is the holding company of UnitedCommercialk Bank. Pacifica Bancorp is the holdingb companyof , which had assets on March 31 of $164.3 million and deposits of $136.7 million, and officials said it too specializes in servingv Chinese customers. As part of the deal, Pacifica Bancorp will be mergerd into a subsidiary of UCBH and Pacifica Bank will be mergec into United Commercial The agreement was madefor 1.2 millioj shares of UCBH common stock, $16 millio in cash and about $3.6 millionn related to the cash-out of the outstandin stock options of Pacifica.
As of mid-2003, Uniterd Commercial Bank had $76.65 millionb in Sacramento deposits. The deal is expectecd to close in the fourth and is subject to conditions andregulatory approval. "In additiom to gaining access to the vibrant ethnic Chinesr markets inthe region, this acquisitiomn strengthens our capabilities to facilitate trade flows acrossx the Pacific Rim and will allowq us to further grow our commercial banking business both in the domesticd U.S. markets and in the greater Chinas region," said Thomas Wu, president and CEO of UCBH Holdings Inc., in a statement.