Pacific Union Bank Consent Order With FDIC Was Lifted
March 08 2004 - 8:00PM
PR Newswire (US)
Pacific Union Bank Consent Order With FDIC Was Lifted LOS ANGELES,
March 8 /PRNewswire-FirstCall/ -- PACIFIC UNION BANK announced
today that the Bank has been informed that a Consent Agreement with
the FDIC was lifted on February 25, 2004. The Bank entered into a
Consent Agreement with FDIC pursuant to Section 8(b)(1) of the
Federal Deposit Insurance Act on March 2002 with respect to certain
Bank Secrecy Act compliance issues. Pacific Union Bank is a
California state-chartered commercial bank headquartered in Los
Angeles, California. The Bank primarily caters to the
Korean-American community in the greater Los Angeles metropolitan
area with additional branches in areas of Orange County, San
Francisco and Silicon Valley. The Bank currently has 12 full
service branch offices. In addition to its full service offices,
the Bank also operates a loan production office in Seattle, WA. (
http://www.pubbank.com/ ) This release contains statements that
constitute "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section
21E of the Securities Exchange Act of 1934, as amended. The words
"believe," "estimate," "expect," "intend," anticipate" and similar
expressions and variations thereof identify certain of such
forward- looking statements, which speak only as of the dates,
which they were made. The Company undertakes no obligation to
publicly update or revise any forward- looking statements, whether
as a result of new information, future events, or otherwise.
Readers are cautioned that any such forward-looking statements are
not guarantees of future performance and involve risks and
uncertainties, and that actual results may differ materially from
those indicated in the forward- looking statements as a result of
various factors. Readers are cautioned not to place undue reliance
on these forward-looking statements. DATASOURCE: Pacific Union Bank
CONTACT: Dianne Kim, Chief Financial Officer of Pacific Union Bank,
+1-213-351-9260 Web site: http://www.pubbank.com/
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