MINNEAPOLIS, N.Y. and SEATTLE – October 12, 2022 – U.S. Bancorp and MUFG Union Bank, N.A. (“MUFG Union Bank”) announced that they have entered into a definitive agreement to sell three existing MUFG Union Bank branches in San Bernardino County, California to HomeStreet Bank (“HomeStreet”). The Department of Justice`s divestment of these branches is related to U.S. Bancorp`s previously announced acquisition of MUFG Union Bank`s core regional banking business. In accordance with Section 684.115 (AB 2364) of the Code of Civil Procedure, the following table provides links to the designated locations for service of legal proceedings filed with the DFPI by financial institutions* doing business in California. For more information, see About central offices for the service of legal affairs or contact Licensing@dfpi.ca.gov. In 1914, Kaspare Cohn founded Kaspare Cohn Commercial & Savings Bank in Los Angeles. In 1918, it was renamed Union Bank & Trust Company of Los Angeles. Harry Volk was recruited by the Prudential Insurance Company as the bank`s new CEO in 1957 and pioneered the use of the monobank holding company among other banking innovations.  Volk retired in 1980 after buying the bank from London-based Standard Chartered Bank in 1979. HomeStreet, Inc.
(Nasdaq: HMST) is a diversified financial services company headquartered in Seattle, Washington that serves consumers and businesses in the western United States and Hawaii. The company is primarily engaged in real estate lending, including mortgage banking, as well as commercial and retail banking. HomeStreet Bank is the winner of the 2022 “Best Small Bank” award in Washington Newsweek Magazine. Some information about our company can be found on our investor relations website under ir.homestreet.com. HomeStreet Bank is a member of the FDIC and is an equal housing lender. The sale is expected to close in the first quarter of 2023, subject to regulatory approval of the sale of the branch and other closing conditions, including the completion of U.S. Bancorp`s acquisition of MUFG Union Bank`s regional core banking business. * Includes state or state banks, all banks, state or federal savings and credit associations, credit unions or similar organizations, and businesses engaged in custody. U.S. Bancorp is the parent company of the U.S.
Bank National Association with approximately 70,000 employees and $591 billion in assets as of June 30, 2022. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diverse mix of industries: Personal and Commercial Banking; payment services; Business and business banking; and asset management and investment services. The company has been recognized for its approach to digital innovation, social responsibility and customer service, including being named one of the World`s Most Ethical Companies in 2022 and Fortune`s Most Admired Supra-Regional Bank. For more information, see usbank.com/about. In 2021, U.S. Bancorp announced that it had agreed to buy MUFG Union Bank`s core business for approximately $8 billion in cash and stock.  In September 2022, MUFG Union Bank and US Bank mutually agreed to extend the termination date of the merger from September 30 to December 31, 2022.  Regulatory approval of the merger by the United States was announced on October 16, 2022, but is still subject to approval by Japanese regulators.
 The transaction is expected to close by the end of 2022.  Union Bank will update your account information Tuesday through Friday at 6:00 a.m. PT and 8:00 a.m. on Saturdays, excluding holidays. There is no update on Sunday or Monday. All transactions made on Saturday, Sunday and Monday are included in the Tuesday morning update. As of June 30, 2022, MUFG Union Bank, N.A. operated 297 branches, primarily retail bank branches in West Coast states.
We offer a wide range of corporate, retail and wealth management solutions to meet the needs of our clients. We also offer a broad portfolio of value-added solutions for our clients, including investment banking, personal and corporate trusts, global custodial services, transactional banking, capital markets and other services. With assets of $124.7 billion, MUFG Union Bank has strong capital buffers, credit ratings and capital ratios compared to peer banks as of June 30, 2022. MUFG Union Bank is a proud member of Mitsubishi UFJ Financial Group (NYSE: MUFG), one of the world`s largest financial institutions with total assets of approximately 386.9 trillion yen (JPY) or $2.8 trillion¹ (as of June 30, 2022).