SAN FRANCISCO - Bank of Tokyo and Mitsubishi Bank, which have announced merger plans, will combine their subsidiary banks in California into a single institution with more than $24 billion in assets.

The new bank, which combines Union Bank and Mitsubishi Bank, both of San Francisco, will rank fourth in California and among the top 25 banks in the United States in asset size.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.