Center Financial Corp. said early Monday that it received a notice from First Intercontinental Bank terminating the merger agreement announced on Sept. 18 between the two banks.

In the termination notice, Doraville, Ga.-based First Intercontinental alleged breaches on the part of Los Angeles-based Center Financial and is demanding $3.1 million in damages. Center Financial said First Intercontinental breached the agreement and is entitled to “no damages of any kind.”

Under the agreement signed last fall, Center Financial was set to acquire First Intercontinental for $65.2 million.

Shares in Center Financial were up 2.9 percent to $9.03 in early trading Monday on the Nasdaq.