Union Bank Completes Acquisition of First Bank Association Bank Services

  Union Bank Completes Acquisition of First Bank Association Bank Services

Deal Solidifies Union Bank as Among the Nation’s Leaders in Providing Banking
    Services to Homeowners Associations and Community Management Companies

Business Wire

SAN FRANCISCO -- November 25, 2013

Union Bank, N.A., today announced it has completed the acquisition of First
Bank Association Bank Services, a unit of First Bank, which provided a full
range of banking services to homeowners associations (HOA) and community
management companies. Union Bank announced it would assume the deposits and
certain assets of First Bank Association Bank Services last May, solidifying
its role as among the nation’s leaders in providing lockbox, electronic
receivables processing and other financial services to HOA management
companies.

“We are pleased to close this acquisition that further strengthens our
position as a best-in-class provider serving the unique needs of specialized
management companies,” said Senior Executive Vice President Ranjana Clark,
head of transaction banking for Union Bank. “This follows our acquisitions of
Klik Technologies in 2011 and of Smartstreet® in 2012, both market leaders in
providing banking services to HOA management companies. Like Klik and
Smartstreet, this acquisition builds on our momentum in an important market
and supports our national strategy of providing product specialists with years
of industry experience to niche industries.”

First Bank Association Bank Services was among the regional market leaders in
community association banking, providing specialized banking services for more
than 30 years with more than $550 million in deposits, primarily from
customers in California. Union Bank is a longtime provider of HOA banking
services on the West Coast and, having expanded its national reach last year
with its acquisition of Smartstreet, currently serves HOA clients in 38
states.

About UnionBanCal Corporation & Union Bank, N.A.

Headquartered in San Francisco, UnionBanCal Corporation is a financial holding
company with assets of $105.5 billion at September 30, 2013. Its primary
subsidiary, Union Bank, N.A., provides an array of financial services to
individuals, small businesses, middle-market companies, and major
corporations. The bank operated 422 branches in California, Washington,
Oregon, Texas, Illinois, and New York as well as two international offices, on
September 30, 2013. UnionBanCal Corporation is a wholly-owned subsidiary of
The Bank of Tokyo-Mitsubishi UFJ, Ltd., which is a subsidiary of Mitsubishi
UFJ Financial Group, Inc. Union Bank is a proud member of the Mitsubishi UFJ
Financial Group (MUFG)(NYSE:MTU), one of the world’s largest financial
organizations. In July 2013, American Banker Magazine and the Reputation
Institute ranked Union Bank #1 for reputation among its customers. Visit
http://www.unionbank.com for more information.

Contact:

Union Bank, N.A.
Joanne Curran, 213-236-5017
joanne.curran@unionbank.com
or
Tom Taggart, 415-765-2249
thomas.taggartIII@unionbank.com
 
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