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Article: Hong Kong Bank of East Asia to Acquire NAB
- Article from:
- AP Online
- Article date:
- January 3, 2006
CopyrightThis material is published under license from the Associated Press. All inquiries regarding rights should be directed to the Associated Press. (Hide copyright information)
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AP Online
01-03-2006
Dateline: HONG KONG
Bank of East Asia Ltd. said Tuesday it has agreed to acquire National American Bancorp., a small U.S. commercial bank, for an undisclosed amount to expand its network in northern California.
Bank of East Asia Chairman David Li said the acquisition will enable his company to "expand its network to the dynamic San Francisco market and provide it with a platform for further growth in northern California."
The National American Bancorp., or NAB, operates three branches in the greater San Francisco area. It has total assets worth about $87.3 million by the end of June last year, just ...