United Orient Bank
| Company type | Private |
|---|---|
| Industry | Banking |
| Founded | April 9, 1981 |
| Founder | James S. C. Chao |
| Headquarters | New York City (Chinatown, Manhattan) , United States |
Area served | Chinese-American community in New York City |
Key people | William D. Hoffman (President and CEO, 1994–1995), Yungman Lee (President and CEO, 1995–2002) |
| Products | Banking services including IRAs |
| Website | www |
United Orient Bank () is a privately owned financial institution in the United States, established on April 9, 1981, by James S. C. Chao with the goal of serving the Chinese-American community in New York City. Its main office is situated in Chinatown, Manhattan, and it asserts the distinction of being Chinatown's first native community bank. The institution prioritizes the allocation of local resources and was among the pioneering U.S. banks to provide IRAs to its customers.
By the end of the first quarter in 2021, United Orient Bank reported assets near USD $88.97 million. The bank’s core clientele continues to be the Chinese-American demographic within New York City, with branch locations established in Chinatown.
In August 1987, the bank was federally indicted for neglecting to report cash transactions exceeding $10,000, a charge announced by then US Attorney Rudolph Giuliani.
The bank’s leadership has included William D. Hoffman as President and CEO from 1994 to 1995, followed by Yungman Lee, who served in the same capacity from 1995 until 2002.
Governance
- 1994–1995: William D. Hoffman (President and CEO)
- 1995–2002: Yungman Lee (President and CEO)