Union Bank has been selected as the...

Union Bank has been selected as the name for the bank that will be created when California First Bank acquires Union Bank, it was announced by Seishichi Itoh, president and chief executive of California First in San Francisco. California First signed a purchase agreement with Standard Chartered PLC March 31 to acquire Los Angeles-based Union Bank and certain of its subsidiaries for $750 million, subject to adjustment. The transaction, which requires regulatory approvals, is expected to close in three to six months. The bank name also is subject to regulatory approval.