Cathay, UCBH Vying for Great Eastern

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Cathay General Bancorp on Tuesday said it had exercised options to buy a minority stake in Great Eastern Bank as it tries to prevent UCBH Holdings Inc. from buying the bank.


Cathay General, the L.A.-based holding company for Cathay Bank, exercised options to buy 41 percent of Great Eastern. Cathay, Great Eastern, and UCBH each specialize in serving Chinese Americans.


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