Cathay General Bancorp completes HSBC West Coast acquisition, adding 10 California branches

CATHAY GENERAL BANCORP

Subsidiary Cathay Bank completed purchase of HSBC Bank USA's West Coast mass retail consumer and retail business banking business.
Adds 10 retail branches in California and additional loans and deposits from HSBC's West Coast operations.
CEO Chang M. Liu stated the acquisition complements Cathay's existing footprint and broadens product offerings.
Cathay Bank now operates 47 branches in California; new total will reach 57 after integration.

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