East West Bank to Purchase Competitor Standard Bank

Summary


SAN MARINO - East West Bancorp Inc. is about to expand its reach into the Chinese-American community.

On Wednesday, the San Marino-based holding company for East West Bank announced that it has agreed to buy competitor Standard Bank for about $204 million, creating a combined bank totaling $8.8billion in assets.

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Extract


East West Bank to Purchase Competitor Standard Bank

Under the deal, East West has agreed to pay two times the book value of Standard Bank, subject...

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