Taichung Commercial Bank in Taipei, Taiwan, and American Continental Bancorp in City of Industry, Calif., have terminated their planned merger.
TCB agreed in September 2022 to buy the parent of the $357 million-asset American Continental Bank for $82 million.
TCB will pay American Continental $500,000.
American Continental “will continue to explore strategic alternatives that it believes will provide strategic value to its shareholders,” the bank said in a separate press release.