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Showing posts with the label East West Bancorp

Bank Nurtures Asian Roots

BY MATTHIAS RIEKE. OCTOBER 10, 2011 The Wall Street Journal.
By focusing on select customers, East West Bancorp is showing it can grow at a time when many banks are struggling to find a firm footing. East West, based in Pasadena, Calif., pays close attention to Asia. It seeks Chinese-American clients and attracts U.S. companies that do business in China. It also finances Chinese companies' expansion in the U.S. through trade finance and commercial loans. East West has "been smart enough to link to demographics in their ancestral homeland," said William Michael Cunningham, the owner of Creative Investment Research Inc., an advisory firm in Washington with a focus on minority ...See full article: http://online.wsj.com/article/SB10001424052970204450804576620881021962152.html

Minority Banks Receiving TARP Capital - Update

We have updated our listing of minority banks receiving TARP funding:

11/14/2008
UCBH Holdings, Inc. (Asian)
San Francisco CA
Purchase
Preferred Stock w/Warrants
$298,737,000
Par

11/14/2008
Broadway Financial Corporation (Black)
Los Angeles CA
Purchase
Preferred Stock w/Warrants
$9,000,000 Par

12/5/2008
East West Bancorp (Asian)
Pasadena CA
Purchase
Preferred Stock w/Warrants
$306,546,000 Par

12/5/2008
Cathay General Bancorp (Asian)
Los Angeles CA
Purchase
Preferred Stock w/Warrants
$258,000,000
Par

12/5/2008
Popular, Inc. (Hispanic)
San Juan PR
Purchase
Preferred Stock w/Warrants
$935,000,000
Par

Total to minority banks: $ 1,807,283,000
Total to all banks: $165,306,798,000
Percentage: 1%