California bank purchases Pacifica

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.

  • Monday, November 24, 2008 8:02pm
  • Business

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.

More in Business

Kailan Manandic / staff photo
                                Amazon recently announced it will move its Seattle-based worldwide operations team to Bellevue by 2023. The company plans to occupy an office tower, pictured here, currently occupied by Expedia, starting in 2020.
Amazon confirms move to Bellevue

The company’s worldwide operations team will make the move by 2023.

Eastside market heats up as major tech news hits

A real estate snapshot from John L. Scott Mercer Island.

Stephanie Quiroz/staff photo 
                                Paige Bisbee, of Bellevue is a paid employee at Davis Wright Tremaine in Bellevue. As part of the law firm’s inclusive program, Bisbee distributes snacks and office supplies to her co-workers.
People with disabilities find purpose through new employment opportunities

Paige Bisbee of Bellevue finds employment at Davis Wright Tremaine

Nintex acquires EnableSoft in company acquisition

Bellevue-based company is a world leader in workflow automation industry.

Inventory is up; buyers, sellers prep for spring

A real estate snapshot from John L. Scott Real Estate.

Mercer Island Youth and Family Services seeks community support

MIYFS will host its annual breakfast this Wednesday and hopes for generosity after Prop. 1 failure.

Stocks stay strong for Smartsheet, Microsoft, T-Mobile

Fortune 500 functionality, Hololens technology, 5G network contribute to growth

A comparison of how many life science companies are on the Eastside and in other Washington cities. Illustration by Kailan Manandic
Life science hits its stride on the Eastside

Life science has strong roots in Washington, contributing economically and scientifically.

Kaelyn Adams (Front), owner of Barre Rev, leads a barre class at her new location. Multiple members from the previous studio, The Dailey Method, joined Barre Rev to help support Adams and her goal to be a community hub. Photo courtesy of Kaelyn Adams
Local fitness instructor opens first Barre studio on the Island

Kaelyn Adams opened her own Barre studio after years of fitness instruction and massage therapy.

Praerit Garg joins Smartsheet as CTO

Bellevue-based company employs 760 people

Despite interest rate approach, real estate ticking onward

A real estate snap shot from John L. Scott Real Estate.

OfferUp founder Nick Huzar makes customer safety a core pillar

Bellevue-based CEO wanted a simpler solution to his own problems