UCBH Holdings, Inc. Reports Third Quarter Results.* Topline Growth Topline growth Growth in revenues. Also see: Bottomline growth. of 19.2% * Net Interest Income Growth of 10.0% * Noninterest-Bearing Deposit Account Growth of $85.0 Million, or 59.8% Annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. * Loan Originations The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. of $908.9 Million and Loan Pipeline of $1.80 Billion * Commercial Business Loan Commitments of $325.8 Million * Construction Loan Commitments of $301.4 Million * Nonperforming Asset Nonperforming asset An asset that is not effectively producing income, such as an overdue loan. nonperforming asset An asset that produces no income. Ratio Decreases to 0.12% SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden -- UCBH Holdings, Inc. (Nasdaq:UCBH), the holding company of United Commercial Bank (UCB UCB - University of California at Berkeley [TM]), today reported net income of $25.6 million for the third quarter ended September September: see month. 30, 2006, compared with net income of $25.5 million for the third quarter ended September 30, 2005. The diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. earnings per common share were $0.26 for the third quarter of 2006, compared with $0.27 for the corresponding period of 2005. Chairman, President and Chief Executive Officer, Thomas (language) Thomas - A language compatible with the language Dylan(TM). Thomas is NOT Dylan(TM). The first public release of a translator to Scheme by Matt Birkholz, Jim Miller, and Ron Weiss, written at Digital Equipment Corporation's Cambridge Research Laboratory runs S. Wu said, "During the third quarter of 2006, UCBH continued to make solid progress in executing our strategic plan, as we build noninterest-bearing deposit accounts, and grow our commercial business and construction loan portfolios. Having ended the third quarter with a very strong loan pipeline, we anticipate solid loan originations and loan growth in the fourth quarter of 2006. "We are especially pleased to announce the proposed acquisition of Summit Bank Corporation. The acquisition of Summit allows UCBH to expand into new markets in Atlanta, Georgia Georgia, country, Asia Georgia (jôr`jə), Georgian Sakartvelo, Rus. Gruziya, officially Republic of Georgia, republic (2005 est. pop. 4,677,000), c.26,900 sq mi (69,700 sq km), in W Transcaucasia. and Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the where there is a rapidly growing Chinese population, and to expand our presence in the Silicon Valley area just south of San Francisco. In addition, Summit's existing representative office in Shanghai Shanghai (shăng`hī`, shäng`hī`), city (1994 est. pop. 12,980,000), in, but independent of, Jiangsu prov., E China, on the Huangpu (Whangpoo) River where it flows into the Chang (Yangtze) estuary. complements our Greater China expansion strategy." Third quarter 2006 highlights include: Revenue Growth: * Net interest income increased by $6.0 million, or 10.0%, for the third quarter of 2006, compared with the corresponding quarter of 2005. * Noninterest income increased by $6.4 million, or 140.4%, for the third quarter of 2006, compared with the corresponding quarter of 2005. * The net interest margin was 3.43% for the third quarter of 2006, compared with 3.58% for the third quarter of 2005 and 3.50% for the second quarter of 2006. Deposit Growth: * Noninterest-bearing accounts increased by $85.0 million during the third quarter of 2006, or 59.8% annualized. * Core deposits increased by $85.0 million during the third quarter of 2006, or 12.2% annualized. * Certificates of Deposit ("CDs") increased by $57.2 million during the third quarter of 2006, or 6.6% annualized. * Total deposits increased by $142.2 million during the third quarter of 2006, or 9.1% annualized. Commercial Loan Growth: * Commercial loans held in portfolio increased by $94.9 million, or 7.2% annualized, during the third quarter of 2006. * Commercial business loans increased by $28.1 million, or 10.0% annualized, during the third quarter of 2006. * Construction loans increased by $170.3 million, or 96.0% annualized, during the third quarter of 2006. Internal Securitization Securitization The process of creating a financial instrument by combining other financial assets and then marketing them to investors. Notes: Mortgage backed securities are a perfect example of securitization. May also be spelled as "securitisation. and Loan Sales: * $175.9 million of residential mortgage (one-to-four family) loans were internally securitized securitized Of, related to, or being debt securities that are secured with assets. For example, mortgage purchase bonds are secured by mortgages that have been purchased with the bond issue's proceeds. during the quarter. The resulting mortgage-backed securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. are included in the available-for-sale securities portfolio at September 30, 2006. * Multifamily loan sales were $100.9 million for the quarter. * Commercial real estate loan sales were $143.8 million for the quarter. * Total loan growth for the quarter excluding loan securitizations and sales was $232.2 million, or 15.0% annualized. New Loan Commitments: * New loan commitments were $908.9 million for the third quarter of 2006, compared with $990.3 million for the third quarter of 2005. The loan commitments in the third quarter of 2006 were concentrated in commercial business and construction commitments, while those in the third quarter of 2005 were concentrated in real estate loans. * New commercial business loan commitments were $325.8 million, an increase of $95.1 million, or 41.2%, compared with commercial business loan commitments of $230.7 million for the third quarter of 2005. These loan commitments are expected to continue to be drawn upon during the balance of 2006 and into 2007. * New construction loan commitments were $301.4 million, an increase of $160.7 million, or 114.2%, compared with construction loan commitments of $140.8 million for the third quarter of 2005. These loan commitments in the third quarter of 2006 are expected to be drawn upon during the balance of 2006 and into early 2007. Asset Quality: * The nonperforming asset ratio was 0.12% at September 30, 2006, compared with a nonperforming asset ratio of 0.16% at September 30, 2005, and 0.24% at year-end 2005. * Loan delinquency delinquency Criminal behaviour carried out by a juvenile. Young males make up the bulk of the delinquent population (about 80% in the U.S.) in all countries in which the behaviour is reported. ratio was 0.31% at September 30, 2006, compared with 0.93% at September 30, 2005, and 0.48% at year-end 2005. * Net loan charge-offs were $2.3 million for the third quarter of 2006, or 0.15% annualized. Such charge-offs were fully reserved in prior quarters. This compares with net loan charge-offs of $60,000 for the third quarter of 2005. * The provision for loan losses was $936,000 for the third quarter of 2006, compared with a negative provision of $105,000 for the corresponding quarter of 2005. Corporate Strategies: The Company's strategy is to improve profitability by restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). its balance sheet towards higher-yielding assets and building its base of lower-cost core deposits. In addition, it seeks to expand its presence in geographical areas serving the Chinese community and American companies doing business in Greater China. Specifically, * The Company remains focused on restructuring its loan portfolio by increasing higher-yielding commercial business and construction loan commitments, and reducing real estate loan concentration. * The Company plans to increase its commercial business loan commitments, primarily international trade finance, and construction loan commitments, which will also have a favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. impact on generating noninterest-bearing checking accounts as those types of loans typically carry higher DDA DDA Disability Discrimination Act (1995, UK) DDA Downtown Development Authority DDA Doha Development Agenda DDA Delhi Development Authority DDA Department for Disarmament Affairs DDA Demand Deposit Account DDA Domain Defined Attribute balances than do real estate loans. In addition, international trade finance loans generate trade fee income for the Bank and boost noninterest income and will help to diversify diversify To acquire a variety of assets that do not tend to change in value at the same time. To diversify a securities portfolio is to purchase different types of securities in different companies in unrelated industries. the income sources of UCBH. * The Company is actively engaged in gathering core deposit accounts by increasing commercial business lending activities and ongoing retail banking strategies. * The Company will open one branch in Southern California Southern California, also colloquially known as SoCal, is the southern portion of the U.S. state of California. Centered on the cities of Los Angeles and San Diego, Southern California is home to nearly 24 million people and is the nation's second most populated region, and one branch in New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of in the fourth quarter of this year. Corporate Development: * UCBH Holdings, Inc. entered into a definitive agreement to acquire Summit Bank Corporation, the holding company of The Summit National Bank, a $656.7 million commercial bank headquartered in Atlanta, Georgia. The acquisition will initiate UCBH's expansion in the Atlanta, Georgia and Houston, Texas markets and will increase its presence in the San Francisco South Bay (Silicon Valley) area. Summit currently operates five branches in metropolitan Atlanta, one in Houston, Texas and two just south of San Francisco. In addition, Summit has a representative office in Shanghai, China, a location where UCBH had plans to open a representative office in 2007. Summit has a strong international trade finance platform, which complements that of UCBH. UCBH management anticipates that the transaction, which is expected to close in the first quarter of 2007, will be marginally accretive to earnings per share in 2007 and thereafter. Operating Ratios Operating Ratio A ratio that shows the efficiency of management by comparing operating expense to net sales: The annualized return on average assets ("ROA ROA See: Return on assets ROA See: Right of accumulation ROA See return on assets (ROA). ") for the quarter ended September 30, 2006, was 1.24%, and the annualized return on average equity ("ROE A fictitious surname used for an unknown or anonymous person or for a hypothetical person in an illustration. A lawsuit is generally named for the persons who are parties to it. ") for the quarter ended September 30, 2006, was 15.51%. The ROA and ROE for the third quarter of 2005 were 1.43% and 18.97%, respectively. The efficiency ratio was 48.54% for the third quarter of 2006, compared with 40.15% for the corresponding period of 2005. Net Income and Net Interest Income Net income was $25.6 million for the quarter ended September 30, 2006, compared with $25.5 million for the corresponding quarter of the prior year. Net interest income before provision for loan losses for the quarter ended September 30, 2006 increased by $6.0 million, or 10.0%, to $66.1 million, compared with $60.1 million for the same period of 2005. The growth was primarily due to organic balance sheet growth and the acquisitions of Pacifica Bancorp, Inc. ("Pacifica") and Asian American A·sian A·mer·i·can also A·sian-A·mer·i·can n. A U.S. citizen or resident of Asian descent. See Usage Note at Amerasian. A Bank & Trust Company ("AABT AABT Association for the Advancement of Behavior Therapy AABT Renal Transport of Beta-Amino Acids "), which closed in the fourth quarter of 2005. The net interest margin was 3.43% for the quarter ended September 30, 2006, compared with 3.58% for the corresponding quarter of 2005. The net interest margin for the second quarter of 2006 was 3.50%, which included approximately three basis points of prepayment penalty Prepayment penalty A fee a borrower pays a lender when the borrower repays a loan before its scheduled time of maturity. collections. The decrease in the net interest margin reflects the impact of higher interest paid on money market accounts and CDs resulting from increases in market interest rates and the runoff Runoff The procedure of printing the end-of-day prices for every stock on an exchange onto ticker tape. Notes: If the "tape is late" then it can take a long time to print off all the closing prices. of savings accounts Savings Account A deposit account intended for funds that are expected to stay in for the short term. A savings account offers lower returns than the market rates. Notes: due to the current market interest rate environment. The average cost of deposits during the third quarter of 2006 was 3.59%, compared with 2.39% for the third quarter ended September 30, 2005. The 120 basis point increase in the average cost of deposits reflects the increase in market interest rates and the change in deposit mix. The increase in the average cost of deposits was largely offset by a 93 basis point increase in the yield on interest-earning assets. Noninterest Income Noninterest income increased to $11.0 million for the quarter ended September 30, 2006, compared with $4.6 million for the corresponding quarter of 2005, primarily due to increases in commercial banking fees and gains on sales of loans. Commercial banking fees increased by $940,000, or 34.2%, to $3.7 million for the third quarter of 2006, compared with commercial banking fees of $2.7 million for the corresponding quarter of 2005. The increase reflects the growth in trade finance activity, merchant card activity and other commercial banking fees. Gain on sale of commercial and multifamily real estate loans increased to $5.2 million, compared with $1.3 million for the corresponding quarter of 2005, due to increased sales volumes and higher spreads. Noninterest Expense Noninterest expense for the third quarter of 2006 increased by 44.1%, to $37.4 million, from $26.0 million for the corresponding quarter of 2005. This increase was primarily a result of increased personnel costs, occupancy-related expenses, data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a expenses and miscellaneous expenses. In the third quarter of 2006, personnel expense increased 54.3% to $19.9 million, compared with $12.9 million for the third quarter of 2005. This increase resulted from the ongoing salaries and benefits expenses associated with the acquisitions of Pacifica and AABT which were completed in the fourth quarter of 2005, staffing increases required to support the growth of the Bank's commercial banking business, the opening of new branches, the expansion of the Bank's infrastructure to support a growing organization and expenses related to acquisitions. Occupancy expenses increased by $1.4 million to $4.4 million in the third quarter of 2006, primarily related to the two acquisitions and new branch openings in California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). and New York. Data processing expenses increased by $559,000 to $2.3 million in the third quarter of 2006, as a result of the growth of the organization and the two acquisitions. Other general and administrative expenses increased by $1.7 million to $5.4 million in the third quarter of 2006, compared with $3.7 million in the third quarter of 2005. This increase reflects the increase in advertising and promotion expenses and merchant card expenses, as well as increased expenses resulting from the growth of the Bank. Deposits Total deposits increased by $117.3 million, or 2.5% annualized, to $6.38 billion at September 30, 2006, from $6.26 billion at December 31, 2005. Noninterest-bearing deposits increased by $94.7 million, or 22.6% annualized, to $653.3 million, at September 30, 2006, compared with $558.6 million, at December 31, 2005. Checking accounts increased by $173.3 million, or 13.0% annualized, to $1.96 billion at September 30, 2006, from $1.78 billion at December 31, 2005. Savings account balances decreased by $42.9 million, or 6.1% annualized, during the first nine months of 2006, reflecting the migration of savings balances to higher-yielding money market and CD accounts. CDs decreased by $13.0 million, or 0.5% annualized, during the first nine months of 2006, reflecting the competitive pricing for deposits in the market. The average cost of deposits for the quarter ended September 30, 2006 increased to 3.59%, from 3.22% for the quarter ended June 30, 2006, and 2.72% for the quarter ended December 31, 2005, reflecting the increase in market interest rates. The net loan-to-deposit ratio improved to 92.97% at September 30, 2006, from 98.16% at June 30, 2006 and 94.68% at December 31, 2005. Loans Total loans, including loans held for sale, decreased by $6.0 million, or 0.01% annualized, during the nine months ended September 30, 2006, following the sale of $656.0 million of commercial real estate and multifamily loans Multifamily loans Loans usually represented by conventional mortgages on multi-family rental apartments. and the internal securitization of $175.9 million of residential mortgage (one-to-four family) loans, which is discussed in the Securities section below. Prior to the loan sales and the internal securitization, the total loans increased by $842.5 million, or 18.7% annualized, during nine months ended September 30, 2006. The sale of the loans is part of the Company's strategy to reduce its concentration in commercial real estate and multifamily loans and increase its commercial business loans and trade finance facilities. Loans held in portfolio increased by $27.7 million, or 0.63% annualized, during the first nine months of 2006, to $5.87 billion, reflecting the strong growth in commercial business and construction loan commitments, offset by the planned reduction in commercial real estate and multifamily real estate loans. This compares with loans held in portfolio of $5.84 billion at December 31, 2005. Loans held for sale decreased by $33.7 million, or 28.7% annualized, during the first nine months of 2006, to $123.0 million. This compares with loans held for sale of $156.7 million at December 31, 2005. The Bank continued to expand its commercial lending activities in the California, Greater China, New York, New England New England, name applied to the region comprising six states of the NE United States—Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The region is thought to have been so named by Capt. and Pacific Northwest markets. During the third quarter of 2006, loan growth remained concentrated in the Bank's commercial business and construction loan portfolios. Commercial business loans totaled $1.16 billion at September 30, 2006. This represents an increase of $291.1 million, or 44.9% annualized, compared with the $863.9 million of commercial business loans as of December 31, 2005. Construction loans totaled $879.5 million at September 30, 2006. This represents an increase of $384.7 million, or 103.6% annualized, compared with the $494.8 million of construction loans as of December 31, 2005. With the strong increases in commercial business loan and construction loan commitments in the third quarter of 2006, the Company expects solid growth of these higher-yielding assets through the remainder of 2006 as the commitments continue be drawn upon. Loan Commitments New loan commitments of $908.9 million for the third quarter of 2006 were comprised of $874.8 million of commercial loans and $34.1 million of consumer loans. Since the third quarter of 2005, the Company has been executing its strategy to build its portfolios of commercial business and construction loans and decrease its concentration in commercial real estate and multifamily loans. Commercial business loan originations increased by 41.2% to $325.8 million in the third quarter of 2006, compared with $230.7 million in the third quarter of 2005. Construction loan commitments of $301.4 million in the third quarter of 2006 represent a 114.2% increase over construction loan commitments of $140.7 million in the corresponding quarter of 2005. Commercial real estate loan originations decreased 23.9% to $217.3 million in the third quarter of 2006, from $285.5 million in the third quarter of 2005. Multifamily loan originations were $30.2 million for the third quarter of 2006, a decrease of $227.7 million, or 88.3%, from $257.8 million of multifamily loan originations for the third quarter of 2005. Consumer loan originations were $34.1 million in the third quarter of 2006, compared with $75.5 million in the third quarter of 2005. Credit Quality and Allowance for Loan Losses Total nonperforming assets as of September 30, 2006, were $10.2 million, or 0.12%, reflecting management's continued focus on maintaining high credit quality assets. This compares with total nonperforming assets of $16.1 million, or 0.19%, at June 30, 2006, and $12.1 million, or 0.16%, at September 30, 2005. Net loan charge-offs were $2.3 million for the quarter ended September 30, 2006, compared with net loan charge-offs of $60,000 for the corresponding quarter of the prior year. Annualized net loan charge-offs for the third quarter of 2006 were 0.15%. There were no charge-offs in the corresponding quarter of 2005. The ratio of allowance for loan losses to loans held in portfolio was 0.97% at September 30, 2006, compared with 0.99% at June 30, 2006, and 1.11% at December 31, 2005. The decrease in the ratio of allowance for loan losses is primarily the result of improvements in credit classifications on certain loans and loan loss factor refinements. The ratio of allowance for loan losses to nonperforming loans was 553.63% at September 30, 2006, compared with 366.58% at June 30, 2006, and 476.16% at September 30, 2005. Including the credit reserve for unfunded commitments, the total reserve ratio to loans held in portfolio was 1.07% at September 30, 2006, compared with 1.08% at June 30, 2006 and 1.16% at December 31, 2005. The loan delinquency ratio was 0.31% at September 30, 2006, compared with 0.24% at June 30, 2006 and 0.93% at September 30, 2005. Securities The securities portfolio was $1.60 billion at September 30, 2006, compared with $1.43 billion at December 31, 2005. The securities portfolio was 19.2% of total assets at September 30, 2006, compared with 17.9% of total assets at December 31, 2005. The Company's long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. goal is to maintain a securities portfolio between 10% and 15% of total assets. During the quarter of 2006, the Company internally securitized $175.9 million of residential mortgage (one- to-four family) loans for risk-based capital management purposes. In such securitizations, the Bank exchanges residential mortgage (one-to-four family) loans for Fannie Mae Fannie Mae: see Federal National Mortgage Association. ("FNMA FNMA abbr. Federal National Mortgage Association Noun 1. FNMA - a federally chartered corporation that purchases mortgages Fannie Mae, Federal National Mortgage Association ") securities. Residential mortgage loans are generally included in the 50% risk-weight for risk-based capital purposes. FNMA securities are classified as a 20% risk weight. These internal securitizations do not have a cash impact to the Bank, since selected loans from its portfolio loans are exchanged for FNMA securities. Such securities are represented by exactly the same loans previously held in the Bank's loan portfolio. As a result of the transaction, the residential mortgage (one-to-four family) loan portfolio was decreased by $175.9 million and securities were increased by a like amount. Such securities are included in the available-for-sale securities portfolio at September 30, 2006. In conjunction with its ongoing management of the securities portfolio, the Company sold $89.3 million of lower-yielding securities during the quarter. Income Taxes The effective tax rate was 34.0% for the third quarter ended September 30, 2006, compared with 34.2% for the corresponding period of 2005. The reduced tax rate in 2006 relates primarily to increased Enterprise Zone tax credits. Capital Stockholders' equity Stockholders' Equity The portion of the balance sheet that includes capital received from investors in exchange for stock (paid-in capital), donated capital, and retained earnings. This is equal to total assets minus liabilities, preferred stock and intangible assets. increased by $71.8 million, or 15.9% annualized, to $675.3 million at September 30, 2006, from $603.5 million at December 31, 2005. The growth in equity during the quarter resulted from the retention of earnings. The Tier I leverage ratio of the Bank was 8.70% at September 30, 2006, compared with 8.26% at December 31, 2005. The Bank's capital ratios exceed regulatory requirements Regulatory requirements are part of the process of drug discovery and drug development. Regulatory requirements describe what is necessary for a new drug to be approved for marketing in any particular country. , and the Bank continues to be categorized cat·e·go·rize tr.v. cat·e·go·rized, cat·e·go·riz·ing, cat·e·go·riz·es To put into a category or categories; classify. cat as "well capitalized Capitalized Recorded in asset accounts and then depreciated or amortized, as is appropriate for expenditures for items with useful lives longer than one year. ." The Company's capital ratios approximate those of the Bank, and the Company is also categorized as "well capitalized." Third Quarter Earnings Teleconference and Webcast UCBH will hold a conference call and audio webcast on October 27, 2006, at 8:00 a.m. Pacific time to discuss the financial results for the Company's third quarter 2006. The webcast will be available through a link on the Investor Relations Investor relations The process by which the corporation communicates with its investors. page of the Company's web site at www.ucbh.com. If you are unable to listen to the webcast live, a replay will be available at www.ucbh.com. About UCBH Holdings, Inc. UCBH Holdings, Inc. is the holding company for United Commercial Bank, a state-chartered commercial bank, which is the leading bank in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. serving the Chinese community and American companies doing business in Greater China. With $8.35 billion in assets as of September 30, 2006, the Bank has 47 California branches/offices located in the San Francisco Bay Area “Bay Area” redirects here. For other uses, see Bay Area (disambiguation). The San Francisco Bay Area, colloquially known as the Bay Area or The Bay , Sacramento, Stockton, Los Angeles Los Angeles (lôs ăn`jələs, lŏs, ăn`jəlēz'), city (1990 pop. 3,485,398), seat of Los Angeles co., S Calif.; inc. 1850. and Orange counties, four branches in New York, three branches in New England, two branches in the Pacific Northwest, a branch in Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. , and representative offices in Shenzhen, China and Taipei, Taiwan. UCB, with headquarters in San Francisco, provides commercial banking services to small- and medium-sized businesses and professionals in a variety of industries, as well as consumer and private banking services to individuals. The Bank offers a full range of lending activities, including commercial real estate and construction loans, commercial credit facilities credit facilities npl → facilidades fpl de crédito credit facilities npl → facilités fpl de paiement credit facilities , international trade finance, cash management, private client services, loans guaranteed by the U.S. Small Business Administration, residential mortgages, home equity lines of credit, and online banking services for businesses and consumers. For additional information, visit the web site for United Commercial Bank at www.ibankUNITED.com or the web site for UCBH Holdings, Inc. at www.ucbh.com. Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Certain statements contained in this release may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Such forward-looking statements are based upon specific assumptions that may or may not prove correct. Forward-looking statements are also subject to known and unknown risks, uncertainties and other factors relating to relating to relate prep → concernant relating to relate prep → bezüglich +gen, mit Bezug auf +acc the Company's and the Bank's operations and business environment, all of which are difficult to predict, and many of which are beyond the control of the Company and the Bank. The factors include, among others: economic and business conditions in the areas and markets in which the Company and the Bank operate, particularly those affecting loans secured by real estate; deterioration de·te·ri·o·ra·tion n. The process or condition of becoming worse. or improvement in the ability of the Bank's borrowers to pay their debts to the Bank; market fluctuations such as those affecting interest and foreign exchange rates and the value of securities in which the Bank invests; competition from other financial institutions, whether banks, investment banks The following is a list of investment banks Financial conglomerates Large financial-services conglomerates combine commercial banking and investment banking, and sometimes insurance. , insurance companies or others; the ability of the Bank to assimilate as·sim·i·late v. 1. To consume and incorporate nutrients into the body after digestion. 2. To transform food into living tissue by the process of anabolism. acquisitions, enter new markets and lines of business, and open new branches, successfully; changes in business strategies; changes in tax law and governmental regulation of financial institutions; demographic changes; and other risks and uncertainties, including those discussed in the documents the Company files with the Securities and Exchange Commission ("SEC"). The foregoing may cause the actual results and performance of the Company and the Bank to be materially different from the results and performance indicated or suggested by the forward-looking statements. Further description of the risks and uncertainties are included in detail in the Company's current, quarterly and annual reports, as filed with the SEC. [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] [TABLE OMITTED] |
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