Oct 16, 2015
MIZUHO ENDS NEGOTIATIONS TO BUY STAKE IN BANK OF COMMERCE
Price probably wasn’t the only consideration here.
If you are a foreign bank, and you buy a bank that has real estate for collateral, how can you foreclose on a loan if the constitution prevents foreign ownership of land?
The more logical buyer for bank of commerce is a local bank.
I wouldn’t be surprised if Security Bank or Union Bank were looking at this.