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Two Major Koreatown Banks To Merge

Friday, December 10, 2010 - 11:37 AM
Two of the major Koreatown banks have announced they will merge: Center Bank and Nara Bank. They will become the largest Korean American bank in the country, surpassing Wilshire State Bank. Nara Bank stockholders will end up owning about 55% of the new company, and Center Bank will be renamed.

Banking: L.A.'s Center Financial to merge into Nara Bancorp - latimes.com
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me1004me1004369 posts since
Jan 16, 2010
Rep Points: 2,560
1. Friday, December 10, 2010 - 1:07 PM
Here is the link to the story:

http://www.latimes.com/business/la-fi-korean-bank-merger-20101210,0,988837.story

Reuters is reporting that the new merged entity will operate under a new name that will be determined after the closing of the deal, which is expected in the second half of 2011.
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pearlbrownpearlbrown1,431 posts since
Nov 2, 2010
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2. Friday, December 10, 2010 - 3:17 PM
Pearlbrown, thanks for fixing that link! I didn't realize I had made that mistake. I have now fixed it in my posting.
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me1004me1004369 posts since
Jan 16, 2010
Rep Points: 2,560
3. Friday, December 10, 2010 - 8:35 PM
You're welcome - and thanks for posting the original article, it was interesting.
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pearlbrownpearlbrown1,431 posts since
Nov 2, 2010
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