Article: Union Bank of California to Acquire Monterey Bay Bank.

Business Editors

SAN FRANCISCO--(BUSINESS WIRE)--April 8, 2003

UnionBanCal Corporation (NYSE:UB), parent company of Union Bank of California, N.A., jointly announced today with Monterey Bay Bancorp (Nasdaq:MBBC), parent company of Monterey Bay Bank, the signing of a definitive agreement for Monterey Bay Bank to be merged into Union Bank of California in a transaction valued at $96.5 million.

Monterey Bay Bank is a $610 million-asset savings and loan association headquartered in Watsonville, California, with approximately 130 employees and eight full-service branches in the Greater Monterey Bay area. The branch offices are located in Watsonville, ...

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