UCB’s Success due to Community Support & Excellent Team - Shafiq Khan

Speakers and audience at the Holiday Party hosted by United Central Bank at the Hyatt Regency in Orange County

United Central Bank was formed 23 years ago in 1987 in Garland, Texas. In 2004 the Management decided to expand into Virginia, Georgia, and California. In 2005, I was entrusted with the task of developing the customer base, while the Bank management was working to get the license to establish full-service banking centers in Southern California.

In 2007 the Bank acquired the license and decided to open the first branch in Artesia. Before Artesia was formally inaugurated, the management was greatly encouraged by the enthusiastic response and made the bold decision to open three additional branches by the end of 2008. Only 12 months after the opening of the Artesia Branch, branches in downtown LA, Irvine and Wilshire were up and running.

Shortly after, we were faced with the economic downturn. Credit freeze, banks started closing down as is known to all of you. I am pleased to inform you, that despite the weak economic situation, with your support and outstanding teamwork in California, we not only met the three-year targets set by the management for these branches, we surpassed them with a wide margin.

To make it clear, let me provide you with some statistics. California Region was expected to achieve a target of $175 million in deposits and $115 million in loans. We achieved $236 million in deposits thereby exceeding our target by 34%. On the lending front, we reached $268 million, thus surpassing the target by more than 136%!!

All this success was possible only due to your support and the excellent team that is working for UCB. We are very proud of each and every member of the team. Congratulations and thank you very much California Team for this outstanding achievement. (Excerpts from a speech by Shafiq Khan, Executive Vice President and Regional Manager, United Central Bank California, on December 11, 2010 at the Holiday Party held at Hyatt Regency Orange County. The guests at the party aggregated well over 500)

 

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