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Wilshire Bancorp Announces Share Repurchase Program



Wilshire Bancorp Announces Share Repurchase Program

LOS ANGELES, March 27, 2013 (GLOBE NEWSWIRE) -- Wilshire Bancorp, Inc.
(Nasdaq:WIBC), the parent company of Wilshire State Bank, announced today that
its Board of Directors has authorized the repurchase of up to 5% of its
outstanding common stock or approximately 3.6 million shares. This program
will be in effect for 12 months or expire upon completion of the current
authorization. Under this program, management is authorized to repurchase
shares through Rule 10b5-1 plans, open market purchases, privately negotiated
transactions, block purchases or otherwise in accordance with applicable
federal securities laws. Depending on market conditions and other factors,
repurchases may be made at any time or from time to time, without prior
notice. The Company has no obligation to repurchase any shares under this
program and may suspend or discontinue it at any time.

"We believe the repurchase of our common stock represents an attractive
investment opportunity for the Company, and the authorization of this
repurchase program reflects our commitment to deploying our capital in ways
that will create value for our shareholders," said Jae Whan Yoo, President and
Chief Executive Officer of Wilshire Bancorp and Wilshire State Bank. "Our
strong capital ratios afford us the opportunity to repurchase shares of our
common stock, while still maintaining ample capital to continue growing our
franchise."

COMPANY INFORMATION

Headquartered in Los Angeles, Wilshire State Bank operates 24 branch offices
in California, Texas, New Jersey and New York, and eight loan production
offices in Dallas and Houston, TX, Atlanta, GA, Aurora, CO, Annandale, VA,
Fort Lee, NJ, Newark, CA, and Bellevue, WA, and is an SBA preferred lender
nationwide. Wilshire State Bank is a community bank with a focus on commercial
real estate lending and general commercial banking, with its primary market
encompassing the multi-ethnic populations of the Los Angeles Metropolitan
area. For more information, please go to www.wilshirebank.com. 

FORWARD-LOOKING STATEMENTS

Statements concerning future performance, events, or any other guidance on
future periods constitute forward-looking statements that are subject to a
number of risks and uncertainties that might cause actual results to differ
materially from stated expectations. Specific factors include, but are not
limited to, loan production and sales, credit quality, the ability to expand
net interest margin, the ability to continue to attract low-cost deposits,
success of expansion efforts, competition in the marketplace and general
economic conditions. Any financial information contained in this release
should be read in conjunction with the consolidated financial statements and
notes included in Wilshire Bancorp's most recent reports on Form 10-K and
Form 10-Q, as filed with the Securities and Exchange Commission, as they may
be amended from time to time. Results of operations for the most recent
quarter are not necessarily indicative of operating results for any future
periods. Any projections in this release are based on limited information
currently available to management and are subject to change. The information
in this press release speaks only as of the date of this release and Wilshire
Bancorp specifically disclaims any duty to update the information in this
press release. Additional information on these and other factors that could
affect financial results are included in filings by Wilshire Bancorp with the
Securities and Exchange Commission.

CONTACT: WILSHIRE BANCORP, INC.
         Alex Ko, EVP & CFO - (213) 427-6560
         www.wilshirebank.com
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