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In 1973, East West Federal Bank was founded as a federal savings and loan association, focused on serving the Chinese American community in Southern California. [12]In 1991, during the savings and loan crisis, the company acquired Pacific Coast Savings, [13] [14] [15] which increased the bank's assets from $600 million to $1 billion and expanded operations to San Francisco, California.
East West Bancorp is the parent company of East West Bank.It is a publicly owned company with over $70 billion in assets as of 2024. [1] [2] The company's wholly owned subsidiary, East West Bank, is the largest state-chartered bank in California as of 2023. [3]
EastWest Bank was created on August 14, 1988. It was on that date that the Bangko Sentral ng Pilipinas granted EastWest Bank its commercial banking license. Backed-up by the Filinvest Group of Companies, EastWest Bank opened to the public along Senator Gil Puyat Avenue, Makati on August 1, 1994.
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In 1973, Chu was one of the founding members of East West Federal Bank (now East West Bancorp). [7] [4] [5] [11] Chu also co-founded Trust Saving Bank and served as its Chairperson and CEO; she was the first Chinese American woman to run a bank in the United States. [7] [12] [13] [14]
United Commercial Bank was closed by regulators on November 6, 2009; it was the 120th U.S. bank to fail in 2009, and it had $11.2 billion in assets at the time of the bank failure. [1] East West Bank of Pasadena, California, acquired all the deposits of UCBH.
OneWest Bank is a former US regional bank that operated from March 2019 to July 2022, when it became a division of First Citizens BancShares. With over 60 retail branches in Southern California. OneWest Bank specialized in consumer deposit and lending. OneWest also offered small business services, loans, and treasury management products.
The bank says it strives to make sure its borrowers provide real help to people pushed aside by big projects. In Laos, the bank says, authorities built more than 1,300 new homes with electricity and toilets, 32 schools and two health centers for thousands of people forced to move to make way for a World Bank-financed dam.