San Francisco-based UnionBanCal Corp. is a commercial bank holding company. The company offers asset management, banking, investment and trust services. It's the 25th largest bank in the U.S., based on assets. It has 335 banking offices in California, Oregon and Washington, and two outside the U.S.
The regional bank is owned by Mitsubishi UFJ, Japan's largest bank, which recently bought out the California unit's minority shareholders, acquiring the 35% of the bank that it didn't already own. MUFG is expected to use the bank as a springboard for a U.S. expansion. The bank is reportedly healthier than many of its U.S. competitors, having avoided much of the subprime lending mess.