UCBH Holdings' Bank Is Seized, 120th US Lender Shut This Year

Nov 6th, 2009 - Bloomberg

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Nov. 6 (Bloomberg) -- UCBH Holdings Inc.’s UnitedCommercial Bank, a San Francisco-based lender with $11.2 billionin assets, was seized by regulators today, becoming the 120thU.S. bank to fail this year.

United Commercial was bought by East West Bancorp ofPasadena, California, the Federal Deposit Insurance Corp. saidtoday. United Commercial was the fifth U.S. lender to be seizedby regulators today as banks fail at the fastest rate since1992.

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