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Bank of East Asia ("BEA") formed its
U.S. banking subsidiary in August 2001 through
the acquisition of Grand National Bank,
headquartered in Alhambra, California. To reflect its membership in the BEA Group, Grand National Bank changed its name to The Bank of East Asia (U.S.A.) N.A. ("BEA-USA") in August 2002. As part of its strategy to develop a bicoastal branch network in the U.S., BEA-USA relocated its headquarters from Alhambra to New York City with the opening of a full service branch in Manhattan's Chinatown and a loan production office in Flushing, New York in December 2003.
In May 2006, BEA-USA continued to expand its operations through the acquisition of National American Bancorp. This acquisition provided BEA-USA with a strategic entry point into the dynamic San Francisco market, and a solid platform from which to expand in northern California.
BEA-USA currently operates thirteen branches in New York and California, with three in New York, five in northern California, and five in southern California.
BEA-USA is a full service, relationship-oriented
bank that provides comprehensive retail
banking, commercial banking, and trade
finance services. Combining the accessibility
of a local bank and the worldwide capability
of BEA, BEA-USA provides its customers
a range of products and services beyond
the capabilities of local community banks.
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Incorporated in Hong Kong in 1918, The Bank of East Asia ("BEA") is dedicated to providing comprehensive retail and commercial banking services to its customers in Hong Kong, Mainland China, and other major markets around the world.