Cathay General Bancorp Acquires HSBC's West Coast Retail Banking Business
February 7, 2022
Cathay General Bancorp (through Cathay Bank) completed the purchase of HSBC Bank USA, N.A.'s West Coast mass retail consumer banking and retail business banking business, adding 10 retail branches in California and associated loans and deposits. The deal expands Cathay's branch network and consumer/business banking footprint on the U.S. West Coast.
- Buyers
- Cathay General Bancorp, Cathay Bank
- Targets
- HSBC Bank USA, National Association (West Coast retail banking business)
- Sellers
- HSBC Bank USA, National Association (HSBC)
- Industry
- Financial Services
- Location
- California, United States
- Transaction Type
- Divestiture
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