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Non-Tech : UCBH: UCBH Holdings Inc.
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From: JakeStraw5/24/2005 7:54:40 AM
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UCBH Holdings to pay $40.3M for Pacifica Bancorp
By Mike Maynard

WASHINGTON (MarketWatch) -- UCBH Holdings Inc. (UCBHe) said it's signed a definitive agreement to acquire Bellevue, Wash.-based Pacifica Bancorp Inc. for $40.3 million. Consideration will include $16 million in cash, 1.2 million UCBH Holdings common shares, and $3.6 million to cash out outstanding Pacifica stock options. Pacifica had $164.3 million in assets and $136.7 million in deposits as of March 31. UCBH Holdings, parent of San Francisco-based United Commercial Bank, sees the deal as "marginally accretive" to earnings starting in 2006. The transaction is expected to close in the fourth quarter.
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