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Bbcn And Wilshire Announce Community Goals And Commitments For Merged Bank

The following excerpt is from the company's SEC filing.

~Focus on Increased Lending and Investments in Underserved Communities~


April 8, 2016 BBCN Bancorp, Inc. (NASDAQ: BBCN) and Wilshire Bancorp, Inc. (NASDAQ: WIBC) today jointly announced that their subsidiaries, BBCN Bank and Wilshire Bank, plan to enhance their combined community activities with the joint adoption of Community Goals and Commitments to be implemented upon completion of the merger of the two companies.

The commitments set forth a blueprint for steps the combined company plans to take in the areas of loans, investments, charitable and community contributions and grants over the next several years upon the completion of the merger, which is subject to shareholder and regulatory approvals. To view the Community Goals and Commitments, please visit and

Following the merger completion, the combined company will continue to work with community organizations, including the California Reinvestment Coalition, the National Diversity Coalition and groups from within the African American, Latino, Korean and other Asian and Pacific Islander American communities. These groups provided valuable input to the banks to develop the Community Goals and Commitments.

The Community Goals and Commitments emphasize our desire to be responsible banks and citizens in our communities, said Kevin S. Kim, Chairman, President and Chief Executive Officer of BBCN Bancorp. Jae Whan (J.W.) Yoo, Wilshire Bancorps President and Chief Executive Officer, added, We recognize that what is good for the community is frequently also good for business. By adopting these Commitments, we remain confident in, and committed to, the combination of BBCN and Wilshire.

Kim concluded, On behalf of BBCN and Wilshire, I want to personally thank the California Reinvestment Coalition, the National Diversity Coalition and their member organizations. Their insight and willingness to engage in productive dialogue provided valuable input in formalizing the Community Goals and Commitments, and we look forward to working collaboratively with them to serve the needs of our community.

About BBCN Bancorp, Inc.

BBCN Bancorp, Inc. is the holding company of BBCN Bank, the largest Korean-American bank in the nation with $7.9 billion in assets as of December 31, 2015. Headquartered in Los Angeles and serving a diverse mix of customers mirroring its communities, BBCN operates 50 branches in California, New York, New Jersey, Illinois, Washington and Virginia; eight loan production offices in Seattle, Denver, Dallas, Atlanta, Northern California, Annandale, Virginia, Portland, Oregon and Fremont, California; and a representative office in Seoul, Korea. BBCN specializes in core business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and business lending, SBA lending and international trade financing. BBCN Bank is a California-chartered bank and its deposits are insured by the FDIC to the extent provided by law. BBCN is an Equal Opportunity Lender.

About Wilshire Bancorp, Inc.

Headquartered in Los Angeles...