Los Angeles National Bank
Los Angeles National Bank (Chinese: 世界華商銀行) was an overseas Chinese bank in the United States. Headquartered in Buena Park, California, with branch offices in Silver Lake, Los Angeles and Monterey Park, this privately held community bank was first established on December 18, 1973.
| Type | Private |
|---|---|
| Industry | Finance and Insurance |
| Founded | December 18, 1973 |
| Headquarters | Buena Park, California |
Key people | Mr. Johnson M. Tsai, CEO Ms. Angela Chi, CFO |
| Products | Banking |
| Revenue | N/A (Asset = $ 209.667 million) Return on assets = 1.41 Return on equity = 14.44 |
| Website | www.lanbusa.com |
In contrast to other traditional overseas Chinese bank in the United States of its era that primarily served the local disadvantaged ethnic populace, the Los Angeles National Bank primarily focused on small to medium size businesses of one to thirty million dollars in annual sales, and the executive, retail and professional community consisting predominantly of business owners and executives, doctors, attorneys, accountants and dentists.
The bank also has similarity with other traditional overseas Chinese bank in the United States of its era in that it concentrated on serving the local Chinese communities, but its clients were rather upper middle class in comparison to its counterparts, and while it did not have as many offices as its counterparts in California, it did have a representative offices in Flushing, Queens for its rather a unique way of expansion.
In May 2013, the bank was acquired by Royal Business Bank for an undisclosed amount.[1]
References
- "Archived copy". Archived from the original on 2014-09-26. Retrieved 2014-09-26.CS1 maint: archived copy as title (link)