Global Commerce Bank () was an ethnic Chinese bank in the

United States The United States of America (USA), also known as the United States (U.S.) or America, is a country primarily located in North America. It is a federal republic of 50 U.S. state, states and a federal capital district, Washington, D.C. The 48 ...

. Headquartered in

Doraville, Georgia Doraville is a city in DeKalb County, Georgia, United States northeast of Atlanta. As of the 2020 census, the city had a population of 10,623. History Doraville was incorporated by an act of the Georgia General Assembly, approved December 15, ...

, this privately held community

bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

was established on August 18, 1995, and closed in 2012. The location of Global Commerce

Bank A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

in the

south South is one of the cardinal directions or compass points. The direction is the opposite of north and is perpendicular to both west and east. Etymology The word ''south'' comes from Old English ''sūþ'', from earlier Proto-Germanic ''*sunþa ...

reflected one of the trends at that time of

Chinese American Chinese Americans are Americans of Chinese ancestry. Chinese Americans constitute a subgroup of East Asian Americans which also constitute a subgroup of Asian Americans. Many Chinese Americans have ancestors from mainland China, Hong Kong ...

and

Asian American Asian Americans are Americans with ancestry from the continent of Asia (including naturalized Americans who are immigrants from specific regions in Asia and descendants of those immigrants). Although this term had historically been used fo ...

population diffusion into the area other than the traditional regions settled by Asian Americans such as the western and northeastern United States. All of the directors and most of the investors were American citizens of Chinese ancestry. The bank was located in the Asian Square, next to the

99 Ranch Market 99 Ranch Market () is an American supermarket chain owned by Tawa Supermarket Inc., which is based in Buena Park, California. 99 Ranch has 58 stores in the U.S. (as of April 2023), primarily in California, with other stores in Nevada, Oregon, ...

. In addition to the traditional

ing services provided to the local community, Global Commerce Bank also offered credit instruments, such as letters of credit that facilitate international trade. Based on

Georgia Georgia most commonly refers to: * Georgia (country), a country in the South Caucasus * Georgia (U.S. state), a state in the southeastern United States Georgia may also refer to: People and fictional characters * Georgia (name), a list of pe ...

Banks’ performance report for the year 2003, Financial Management Consulting Group ranked Global Commerce Bank as the 9th best performing bank among 323 banks in Georgia.

Failure

On March 2, 2012, Global Commerce Bank was closed by state regulators, with three failed branches reopening as part of Metro City Bank. Global Commerce Bank was the 12th U.S. bank to fail that year, costing the

FDIC The Federal Deposit Insurance Corporation (FDIC) is a State-owned enterprises of the United States, United States government corporation supplying deposit insurance to depositors in American commercial banks and savings banks. The FDIC was cr ...

an estimated $18 million.

References

External links

Global Commercial Bank

Asian-American culture in Georgia (U.S. state) Banks based in Georgia (U.S. state) Banks established in 1995 Privately held companies based in Georgia (U.S. state) Chinese American banks Banks disestablished in 2012 {{US-bank-stub