Amerasia Bank Acquires Great Eastern Bank of Florida


Updated on Wed Dec 12, 2012

Amerasia Bank, a $291-million asset institution based out of Queens, N.Y., will acquire Great Eastern Bank of Florida, reports American Banker.

Great Eastern Bank, a $48 million-asset bank, has been experiencing trouble since 1998, when regulators placed the bank under various enforcement orders. Most recently in September, the bank had negative returns on assets and equity.

The price of Amerasia’s acquisition was not disclosed and will be Amerasia’s first acquisition.

The Economist recently called Amerasia the best bank in the U.S.


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