UnionBanCal Corp. said Friday that it will open six branches in the San Francisco Bay Area by March, in what it called its most significant branch expansion in the area in more than 10 years.
The $53 billion-asset San Francisco banking company, mostly owned by Mitsubishi UFJ Financial Group Inc., opened a branch Oct. 1 in the suburban city of Pleasanton, 15 miles east of San Francisco. It plans four more in the eastern suburbs - one each for Orinda, Moraga, San Ramon, and Alamo - and one to the south in San Jose.
The additions will raise the number of Union Bank of California branches in the area to 44. It has a total of 323 branches in California, Washington, and Oregon.
Union Bank's last expansion in the San Francisco area was in 2004, when it gained five branches through the acquisition of Business Bancorp of San Rafael.
