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Article: Hong Kong's Bank of East Asia to acquire National American Bancorp
- Article from:
- AP Worldstream
- Article date:
- January 3, 2006
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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AP Worldstream
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 US$87.3 million (euro73.5 million) by the end of June last ...