Information about Union Bank Of California

Union Bank of California
	Subsidiary (owned by UnionBanCal Corporation)
Founded	1864
Headquarters	San Francisco, California
Key people	Masaaki Tanaka, CEO
Industry	Banking
Employees	10,277[https://www.snl.com/irweblinkx/corporateprofile.aspx?IID=1022285] )
Website	www.uboc.com

Union Bank of California is one of the 30 largest commercial banks in the United States. It has 327 branches, the majority of which are in San Diego, Los Angeles and Orange Counties. The bank also has facilities in Arizona, Calgary, the Cayman Islands, Illinois, Nevada, New York, Texas, and the District of Columbiain California, Oregon, and Washington, and two offices outside the United States.

Marketplace considerations

The bank provides a comprehensive array of personal and commercial financial products and services to individuals, small businesses, middle-market companies, major corporations, government agencies, and not-for-profit organizations. UBOC is an acknowledged leader in trust and investment management services, private banking, and consumer and business lending, with expertise in commercial, middle market, corporate, and real estate lending

Relative to its competitors and peers, Union Bank of California is well capitalized and has superior credit quality throughout its portfolio. Its total loan portfolio is well balanced, composed of three nearly equal parts of residential mortgages, commercial and industrial loans, and commercial real estate portfolios.

History

The former Bank of California, founded on July 5, 1864, with $2 million in capital, was the second-richest bank in the nation. It was the first incorporated commercial bank west of the Mississippi River.

The bank was, in fact, founded by a former steamship pilot and Mississippi riverman named William Ralston, a key figure in the development of Nevada’s Comstock Lode. The bank backed the first California winery, funded completion of the coast-to-coast railroad, invested in early explorations of Alaska, which led to its purchase from Russia, and built California’s first large-scale water-transfer project. And as a harbringer of its relationship with BTMU, The Bank of California negotiated the first trade treaty between the United States and Japan. In 1984, The Bank of California was acquired by The Mitsubishi Bank, Limited, which traces its own history to 1880 and its founder, Yataro Iwasaki, a former samurai.

Union Bank of California’s modern history began in November 1988 when California First Bank acquired Union Bank from Standard Chartered PLC of London and kept the Union Bank name. Both banks have rich and colorful histories.

California First Bank traced its origins to Yokhama Specie Bank, which came into existence in 1880 and opened an office in San Francisco in 1886. The Bank of Tokyo, Ltd., was established in 1947 as successor to the Yokohama Specie Bank and in 1953 formed The Bank of Tokyo of California as a San Francisco subsidiary. In 1975, The Bank of Tokyo of California acquired Southern California First National Bank of San Diego, which was in 1883 by Jacob Gruendike, operator of San Diego’s leading general store.

Meanwhile, the roots of the old Union Bank were planted in the 1890s, when German immigrant Kaspare Cohn began acting as an unofficial banker to sheepherders of Basque descent in the vicinity of Los Angeles. The business was formalized in 1914 with the founding of Kaspare Cohn Commercial & Savings Bank. The name was changed to Union Bank & Trust Company of Los Angeles in 1918 and shortened to Union Bank in 1958. In 1967, Union Bancorp, a one-bank holding company, was established in 1967 and was acquired by Standard Chartered in 1979.

Organization and Management

UnionBanCal Corporation, parent company of UBOC, is incorporated in Delaware, and its stock is traded on the New York Stock Exchange. At June 30, 2007, majority shareholder BTMU owned approximately 65 percent of the outstanding stock of UnionBanCal.

President and CEO is Masaaki Tanaka. His executive management team includes Vice Chairman and Chief Operating Officer Philip B. Flynn, Vice Chairman and Chief Financial Officer David Matson, Vice Chairman and Chief Risk Officer Masashi Oka, and Executive Vice President and Deputy Chief Risk Officer John Erickson.

References

External links

• Union Bank of California

•  • [ e] 50 largest American banks and bank holding companies

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