Items Tagged with 'UnionBanCal Corp.'


  • UnionBanCal Dances with Wall Street, Analysts

    In what is apparently becoming the trend du jour this earnings season, San Francisco-based UnionBanCal Corp. [stock UB][/stock] said Monday that profits fell amid fast-rising loan loss provisions, but that earnings nonetheless came in ahead of analyst estimates -- and went so far as to sweeten the pot, as well, suggesting that third quarter earnings would top earlier estimates.
    Read More
  • Union Bank Warns on Credit Losses, Slowing Homebuilding

    Saying it was feeling the effect of "weakening operating conditions for the homebuilding industry," UnionBanCal Corp. said that it has increased its total provision for credit losses to $60 million for the fourth quarter. The parant of Union Bank of California, NA, had earlier forecast $15 million in loss reserves for the quarter. UnionBanCal now holds roughly $100 million in reserves against its homebuilder portfolio, it said, although the no net charge-offs were recorded against reserves during the fourth quarter of 2007.
    Read More