United Commercial Bank Holdings, Inc., announced last week that it will acquire Bellevue-based Pacifica Bancorp, Inc., for $40.3 million. The transaction is subject to approval by Pacifica Bancorp’s shareholders and regulators. It is anticipated in the fourth quarter of 2005.
Pacifica is a commercial bank that specializes in banking for small- to medium-sized domestic businesses, international businesses and individuals. Its assets totaled $164.3 million as of March 31, 2005. Pacifica’s chairman is Mercer Island resident Lyle Snyder.
“We are excited to become a part of the United Commercial Bank organization and believe that this transaction will be very positive for our shareholders, customers and employees,” Snyder said in a press release.
Headquartered in San Francisco, UCBH has assets of $6.49 billion. It has 46 branches in California, two in New York and one in Honk Kong. Pacifica’s two branches in King County mark UCBH’s entrance into the Pacific Northwest market.
New realtors at John L. Scott Mercer Island
John L. Scott Mercer Island has two new agents, Daphne Donovan and Mira Su.
Donovan is looking forward to combining her expertise in sales, marketing, customer service and passion for homes. She joins John L. Scott to partner with her husband, who is also an agent with the company.
Prior to joining the realty industry, Su worked for three years in retail management. Su looks forward to meeting the realty needs of her clients.
The John L. Scott Mercer Island office is at 9423 SE 36th St., in Mercer Island. To contact the John L. Scott Mercer Island office, please call 232-8600.
New realtor at Mercer Island Coldwell Banker
Coldwell Banker Bain on Mercer Island has a new member: Palmer Berge. He has worked within the Seattle commercial real estate market since 1968. He taught courses in commercial real estate development until his appointment as the national president of CCIM in 1977.
In 1981, Berge began a real estate software company. The company expanded into all 50 states and was rated as a top real estate software resource within a short time.
Recently, Berge has applied his area knowledge and entrepreneur experience towards the efforts of local builders and developers.