SAN FRANCISCO - Union Bank said it has received California Banking Department approval to acquire 33 former branches of Security Pacific National Bank in central and southern California.
Union Bank, which had received approval from the Federal Deposit Insurance Corp. in May, said it expects to complete the purchase over the July 4 weekend and reopen the branches under its name on July 6.
Union Bank, a subsidiary of the Bank of Tokyo, said it plans to keep the branches open and expects to retain existing staff members at these location.
