Union Bank N.A.

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MUFG Union Bank, N.A.
Type Subsidiary
Industry Banking
Founded 1996 (as Union Bank of California)
2008 (as UnionBank)
Headquarters 1251 Avenue of the Americas
New York, New York[1]
Key people

Masashi Oka, Executive Chairman
Katsumi Hatao, CEO for the Americas
Hironori Kamezawa, Deputy CEO
for the Americas
Takayuki Akita, Head of Asian Corporate Banking
Ranjana Clark, Head of Transaction Banking
Michael Coyne, General Counsel
Kevin Cronin, Head of U.S.Corporate Banking
Michael Gotimer, Co-Chief Information & Operations Officer
John Itokazu, Co-Chief Information & Operations Officer
Kazuo Koshi, Chief of Staff
Anthony Marino, Co-Chief Human
Resources Officer
Mark Midkiff, Chief Risk Officer for the Americas
J. Michael Stedman, Head of Commercial Banking
Annemieke van der Werff, Co-Chief Human Resources Officer
Tim Wennes, West Coast President Head of Retail Banking & Wealth Markets and Corporate Social Responsibility
Johannes Worsoe, Head of Investment Banking & Markets

John Woods, Chief Financial Officer
Employees Over 10,000[2]
Parent MUFG Americas Holdings Corporation
Website www.unionbank.com

On July 1, 2014, Union Bank, N.A. has changed its legal name to MUFG Union Bank, N.A.[3] MUFG Union Bank, N.A., (stylized as UnionBank) formerly known as Union Bank of California, N.A., is a full-service bank with 398 retail branches in California, Washington and Oregon. On June 30, 2012, the bank was also operating commercial branches in Dallas, Houston, New York City and Chicago, as well as two international offices. Headquartered in New York City, MUFG Union Bank, N.A. is a subsidiary of MUFG Americas Holdings Corporation, a financial holding company.[3]

MUFG Americas Holdings Corporation, the holding company of MUFG Union Bank, N.A., had $2.5 trillion (USD) in assets as of March 31, 2014. MUFG Union Bank, N.A. had an asset of $106.7 billion (USD).[1] Its foundation is built on five lineages; three originate in California and two in Japan.[4]


The Bank of Tokyo-Mitsubishi UFJ[edit]

The former Union Bank logo used from 1996 prior to the 2008 rebranding. It still exists at some locations in California.

In April 1996, the Mitsubishi Bank, Ltd. and the Bank of Tokyo, Ltd. merged in Japan. In San Francisco, the Bank of California and Union Bank consolidated into UnionBanCal Corporation, a bank holding company, and its primary subsidiary Union Bank of California, N.A. With the merger, Union Bank could now trace its history back to the founding of the Bank of California 132 years before. In 1999, UnionBanCal Corporation became a publicly traded company listed on the New York Stock Exchange (NYSE:UB).[5]

In August 2008, Mitsubishi UFJ offered to buy the 35 percent of Union Bank it did not already own, which Union Bank accepted.[6] On November 4, 2008, the Bank of Tokyo-Mitsubishi UFJ (BTMU), a wholly owned subsidiary of Mitsubishi UFJ Financial Group (MUFG), announced that BTMU had successfully acquired all of the outstanding shares of UnionBanCal Corporation.[7]

In 2014, MUFG integrated the U.S. operations of its subsidiary The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) with those of San Francisco-based Union Bank, N.A.[8]

Recent acquisitions[edit]

In 2009, Union Bank opened a branch in Texas, with plans to expand.[9]

On April 30, 2010, Union Bank, N.A., acquired certain assets and assumed certain liabilities of Everett, Washington-based Frontier Bank in a purchase and assumption agreement with the Federal Deposit Insurance Corporation (FDIC).[10] Twelve officers and corporate directors of Frontier Bank are facing a $46 million damage lawsuit filed by the FDIC.[11]

Also in April, Union Bank acquired the assets of Tamalpais Bank in Marin County, including seven branches. Federal regulators sold Tamalpais' assets to Union Bank, which rebranded all the acquired branches.[12]

In 2012, Union Bank announced its acquisition of Pacific Capital Bancorp, which operated under the name Santa Barbara Bank & Trust, for $1.5 billion.[13]

In 2013, Union Bank completed the acquisition of First Bank Association Bank Services, which provides a full range of banking services to homeowners associations and community management companies. The acquisition brought to Union Bank approximately $550 million in deposits.

Corporate social responsibility[edit]

Union Bank Foundation[edit]

The Union Bank Foundation strategically funds community and regional initiatives that will position the Foundation as an innovator of partnerships and a grant-maker helping to create and sustain healthy communities.

The Foundation proactively invests in the communities in which the bank and its businesses operate, targeting its resources to benefit low- to moderate-income populations. In order to achieve greater impact in the targeted communities, the Foundation focuses on the strategic program categories of community economic development, affordable housing, education and the environment.[14]

Community Reinvestment Act[edit]

Union Bank's Board of Directors approves the bank's Community Service Action Plan (CSAP), which is used to ensure the bank's compliance with Community Reinvestment Act requirements. The CSAP targets seven key areas for support and services: affordable housing, banking services, community outreach, corporate contributions, low-income consumer loans, small business loans and assistance, and supplier diversity.[15]


  1. ^ a b MUFG Union Bank, N.A. Corporate Profile
  2. ^ https://www.snl.com/irweblinkx/corporateprofile.aspx?IID=1022285
  4. ^ https://www.unionbank.com/global/about/company-profile/history/index.jsp
  5. ^ https://www.unionbank.com/company_information/company_information/company_profile/history_and_timeline.jsp
  6. ^ The Economist August 23, 2008 edition. U.S. edition. Page 7.
  7. ^ "Japanese Bank Buys Rest of UnionBanCal". The New York Times. August 19, 2008. Retrieved May 26, 2010. 
  8. ^ Welcome to MUFG Americas
  9. ^ Union Bank launching statewide growth from DFW
  10. ^ https://www.unionbank.com/company_information/company_information/news/press_release_index/press_releases/pacific_northwest.jsp[dead link][dead link]
  11. ^ "Former Mastro property in Redmond sells for $3.5 million". 
  12. ^ http://www.marinij.com/ci_14901330?IADID=Search-www.marinij.com-www.marinij.com
  13. ^ SBB&T will rebrand in $1.5 billion deal
  14. ^ https://www.unionbank.com/demos/uboc_flash/uboc_flash.jsp
  15. ^ https://www.unionbank.com/company_information/company_information/community_reinvestment/community_service_action_plan_commitment/index.jsp

External links[edit]