WASHINGTON — Officials announced the elaborate closing of San Francisco-based United Commercial Bank Friday night in a deal involving both U.S. and Chinese regulators and a buyer poised to assume the bank's operations immediately.

Pasadena-based East West Bank agreed to take over the $11 billion bank's U.S. operations, as well as a branch in Hong Kong and UCB-China, United Commercial's bank subsidiary in Shanghai. Operations will continue uninterrupted as early as this weekend.

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