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Article: Union Bank of California to Merge with Business Bancorp.
- Article from:
- Revista de Historia de América
- Article date:
- September 29, 2003
CopyrightCOPYRIGHT 2003 The Business Press. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Joseph Ascenzi
Sep. 29--Business Bank of California, the San Bernardino-based bank that specializes in loans to small businesses, will merge with San Francisco-based Union Bank of California.
UnionBanCal Corp. (NYSE: UB), parent company of Union Bank of California, and Business Bancorp (NASDAQ: BZBC), parent company of Business Bank, announced the merger Sept. 26.
The transaction was worth nearly $135 million, according to a UnionBanCal statement.
UnionBanCal officials first approached Business Bank about a merger two years ago, but serious negotiations didn't begin until this summer, said Alan Lane, president and chief ...