Taiwanese bank ends plan to buy California bank

Taichung Commercial Bank in Taipei, Taiwan, and American Continental Bancorp in City of Industry, California, have terminated their planned merger. TCB agreed in 2022 to buy the parent of the $357 million-asset American Continental for $82 million. TCB will pay American Continental $500,000.

M&A News is reported by Paul Davis and reprinted with permission as an adaptation of the material from TheBankSlate.com.