Wilshire Bancorp Promotes Peter Koh to Chief Credit Officer
Jack Choi Resigns as Chief Credit Officer to Become Chief Executive Officer of
LOS ANGELES, June 27, 2013 (GLOBE NEWSWIRE) -- Wilshire Bancorp, Inc.
(Nasdaq:WIBC) (the "Company"), the holding company for Wilshire State Bank
(the "Bank") , today announced that Peter Koh will be promoted to Chief Credit
Officer from Deputy Chief Credit Officer on July 1, 2013 following the
departure of the current Chief Credit Officer, Jack Choi. Mr. Choi will be
leaving on July 1, 2013 to become President and Chief Executive Officer of
another bank and his departure is not due to any disagreements with the
Company or Bank.
Peter Koh, 36, has served as Deputy Chief Credit Officer of Wilshire Bancorp
since February 2011.Mr. Koh has been with the Company since 2001 and has
served in various credit administration positions including interim Chief
Credit Officer during 2011. Mr. Koh graduated with a Master of Business
Administration degree from the University of Southern California and also
holds a Bachelor of Arts degree from Columbia University.
Jae Whan (J.W.) Yoo, President and Chief Executive Officer of Wilshire
Bancorp, commented, "Peter Koh has been instrumental in our efforts to enhance
our credit administration, credit monitoring, and underwriting over the past
few years.He has previously served as interim Chief Credit Officer and he is
well qualified to take on additional responsibility and ensure that we have
continuity, consistency, and strong leadership in our credit administration
"We greatly appreciate Jack Choi's excellent work as Chief Credit Officer for
almost two years.We wish Jack well in his future endeavors," said Mr. Yoo.
Headquartered in Los Angeles, Wilshire State Bank operates 25 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.
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 Form10-K and
Form10-Q, as filed with the Securities and Exchange Commission, as they may
be amended from time to time. 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
CONTACT: WILSHIRE BANCORP, INC.
Alex Ko, EVP & CFO, (213) 427-6560
Press spacebar to pause and continue. Press esc to stop.