Nara Bancorp Inc. and Center Financial Corp. will operate under the name BBCN Bank with a new corporate logo after the merger of the two companies is completed.
The deal is expected to close on Wednesday; it
The $3 billion-asset Nara and the $2.3 billion-asset Center Financial
The $286-million deal that would create the largest Korean-American-owned bank in the U.S. BBCN will have more than 40 branches in California, New York, New Jersey, Seattle and Chicago.
The Chicago-area lender, which at first was able to get the suit quashed, agreed to end the discrimination case by paying a $105,000 fine.
The company disclosed the potential for legal action 'in the near-term' by the bureau in a recent earnings disclosure.
The payment company is connecting installment lenders with borrowers who may be looking for a product instead of a specific company.
U.S. Bancorp is splitting its payment services business in half; Flagstar Financial continues to fill out its leadership with an eye toward tech and risk management; First Horizon authorized an additional $350 million in stock buybacks for its $1 billion share repurchase plan; and more in this week's banking news roundup.
The agency said VyStar customers took on fees and credit report demerits because they could not access banking functions for months following an attempted upgrade.
HomeStreet and FirstSun are working to devise a new formula after the Texas Department of Banking and the Federal Reserve declined to approve their merger application.
