Attempts to expand into America have also faltered, following the failure this month of United Commercial Bank, a unit of a Californian holding company in which Minsheng has a stake.

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It is a unit of holding company Southern Michigan Bancorp Inc.

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Ocean City is a unit of Ocean Shore Holding Co.

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So far his Vulcan holding company has lured seven big tenants, four of which are biotech or health care related, including a unit of Merck.

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