BANKING
A Little Competition: A tiny bank in downtown Los Angeles wants to jump into the Orange County market by buying a branch of Delta Savings Bank in Westminster.
United Pacific Bank, which a year ago had $38 million in assets, has sought approval from regulators to purchase Delta’s Brookhurst Avenue branch, which has little more than $10 million in deposits.
Delta, itself small with only $65 million in assets, has its main office nearby but still isn’t sure it wants to sell the branch. Under new ownership for the past year, the thrift is still “in the process of figuring out what we’re doing,” an executive said.
Both banks cater to a largely Asian clientele. Delta was founded in 1982 by members of Orange County’s then-burgeoning Indochinese community. In 1989, a group of Korean-American investors acquired control.
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