Hanmi Financial Corp. completed its acquisition of Central Bankcorp Inc., the parent company of United Central Bank, on Aug. 31, making it the second largest Korean American Bank in the United States.
The company was founded in 1982 “with the clear mission of helping immigrants achieve the American dream,” says president and CEO C.G. Kum. With the acquisition, “we will broaden our market share from our core Korean American customer base to the wider Asian American and mainstream communities.”
Martina Meng, manager of the Annandale branch, echoed that sentiment, saying she wants the bank to serve the entire community. United Central Bank customers will be able to keep their checking accounts and safe deposit boxes and can use Hanmi ATMs. Online banking will be unchanged until systems integration is completed next February.