East West Bancorp Sells Branch in Irvine

East West Bancorp Inc. in San Marino said it sold the Irvine branch of its East West Bank unit to People’s Bank of California for $743,000. East West Bancorp said the branch had deposits of $17 million.

East West Bancorp, with $2 billion in assets as of March 31, operates 22 branches in four California counties. People’s Bank of California, with $3.3 billion in assets as of March 31, operates 20 branches in three counties in Southern California.