M&A Deal Summary

Cathay General Bank Acquires SinoPac Bancorp.

On July 8, 2016, Cathay General Bank acquired financial services company SinoPac Bancorp. from Bank SinoPac for 340M USD

Acquisition Highlights
  • This is Cathay General Bank’s 1st transaction in the Financial Services sector.
  • This is Cathay General Bank’s largest (disclosed) transaction.
  • This is Cathay General Bank’s 1st transaction in the United States.
  • This is Cathay General Bank’s 1st transaction in California.

M&A Deal Summary
Date 2016-07-08
Target SinoPac Bancorp.
Sector Financial Services
Buyer(s) Cathay General Bank
Sellers(s) Bank SinoPac
Deal Type Divestiture
Deal Value 340M USD

Target

SinoPac Bancorp.

Los Angeles, California, United States
SinoPac Bancorp. is a provider of financial services through its Far East National Bank.

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Buyer(S) 1

Buyer

Cathay General Bank

Los Angeles, California, United States
Category Company
Founded 1962
Sector Financial Services
Employees1,246
Revenue 810M USD (2023)
DESCRIPTION

Cathay General Bancorp is the holding company for Cathay Bank, a California state-chartered bank. Cathay Bank offers a comprehensive range of financial services, including personal and business banking, loans, mortgages, and investment services. Cathay General Bank was founded in 1962 and is based in Los Angeles, California.

DEAL STATS #
Overall 1 of 2
Sector (Financial Services) 1 of 2
Type (Divestiture) 1 of 2
State (California) 1 of 1
Country (United States) 1 of 2
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-26 HSBC Bank USA - 10 Branches

New York, New York, United States

HSBC's business includes 10 HSBC branches and purchase and assume additional deposit liabilities and assets, including residential mortgage loans, retail business banking loans, and personal loans associated with HSBC's West Coast mass retail market consumer banking business and retail business banking business.

Buy -

Seller(S) 1

SELLER

Bank SinoPac

Taipei, Taiwan
Category Company
Founded 1948
Sector Financial Services
Employees10,148
Revenue 52.8B TWD (2023)
DESCRIPTION

Bank SinoPac is a provider of financial services in taiwan. It provides banking, securities, leasing, bancassurance, venture capital, management consulting, commodity services. Bank SinoPac was founded in 1948 and is based in Taipei City, Taiwan.

DEAL STATS #
Overall 1 of 1
Sector (Financial Services) 1 of 1
Type (Divestiture) 1 of 1
State (California) 1 of 1
Country (United States) 1 of 1
Year (2016) 1 of 1
Size (of disclosed) 1 of 1
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