BBCN Bancorp Completes Merger With Foster Bankshares

BBCN Bancorp Completes Merger With Foster Bankshares

LOS ANGELES, Aug. 13, 2013 (GLOBE NEWSWIRE) -- Los Angeles-based BBCN Bancorp,
Inc. (Nasdaq:BBCN), the holding company of BBCN Bank, today announced that the
company has completed the acquisition of Foster Bankshares, Inc., the holding
company of Foster Bank, which is based in the Chicago metropolitan area. With
the merger completed, BBCN has total assets in excess of $6.2 billion and
nearly $5.0 billion in total deposits, using the combined balance sheets of
BBCN and Foster as of June 30, 2013.The acquisition adds eight branches in
Illinois and one branch in Virginia to BBCN's nationwide footprint, giving the
Bank a total of 54 branches in California, Illinois, New York, New Jersey,
Washington and Virginia.

Effective today, all former Foster Bank branches and offices will operate
under the BBCN Bank banner.The transaction positions BBCN as the leading
Korean-American bank in the Midwest and provides BBCN with its first branch in
the greater Washington D.C. metropolitan area.

"We have taken another key step forward in differentiating BBCN as the premier
Korean-American bank in the nation," said Kevin S. Kim, Chairman and Chief
Executive Officer of BBCN Bancorp."With the addition of Foster Bank, BBCN is
now the dominant Korean-American bank in all five of our core geographic
markets, including Southern California, Northern California, Seattle, the New
York/New Jersey metropolitan area and Chicago.Our integration planning has
gone smoothly and the systems integration is on track to be completed before
year-end.With the revenue enhancement and cost savings opportunities
available through this merger, we expect the transaction to be accretive in
the first year of operations, excluding merger-related expenses, and to have a
positive impact on our core earnings power beginning in 2014.Foster Bank has
a rich heritage of supporting Korean-Americans and other ethnic groups in the
greater Chicago markets since its founding in 1989, and we look forwarding to
further strengthening our partnership with the community."

Pursuant to the merger agreement, Foster shareholders may elect to receive the
cash price of $34.6703 per share or, for shareholders who qualify as
accredited investors, 2.62771 shares of BBCN common stock for each share of
Foster Bankshares or a combination thereof, with no limitations on the
consideration mix.Foster has no outstanding options or warrants.

BBCN was advised by the investment banking firm of Keefe, Bruyette & Woods, a
Stifel Company, and the law firm of Arnold & Porter LLP.Foster Bankshares was
advised by the investment banking firm of FIG Partners LLC and the law firm of
Barack Ferrazzano Kirschbaum & Nagelberg LLP.

About BBCN Bancorp, Inc.

BBCN Bancorp, Inc. is the parent company of BBCN Bank, the largest
Korean-American bank in the nation with $5.9 billion in assets as of June 30,
2013.The acquisition of Chicago-based Foster Bankshares, Inc. on August 13,
2013 increased the company's total assets to $6.2 billion.Headquartered in
Los Angeles and serving a diverse mix of customers mirroring its communities,
BBCN operates 54 branches in California, Illinois, New York, New Jersey,
Washington and Virginia, along with six loan production offices in Seattle,
Denver, Dallas, Atlanta, Northern California and Annandale, Virginia. BBCN
specializes in core business banking products for small- and medium-sized
companies, 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.

Foster Bankshares, Inc. is the holding company of Foster Bank, the only
Korean-American Bank headquartered in the Midwest.Established in Chicago in
February 1989, Foster Bank serves the banking needs of Korean-American and
other ethnic communities through eight branches in the Chicago metropolitan
area and one branch in Northern Virginia.Foster Bank employs 112 full-time
equivalent employees and its deposits are insured by the FDIC to the extent
provided by law.Foster Bank is an Equal Opportunity Lender.

Forward-Looking Statements

This press release contains statements regarding the proposed transaction
between BBCN Bancorp and Foster Bankshares, future financial and operating
results, benefits and synergies of the proposed transaction and other
statements about the future expectations, beliefs, goals, plans or prospects
of the management of each of BBCN Bancorp and Foster Bankshares. These
statements are based on current expectations, estimates, forecasts and
projections and management assumptions about the future performance of each of
BBCN Bancorp and Foster Bankshares and the combined company, as well as the
businesses and markets in which they operate. These statements constitute
forward-looking statements within the meaning of the U.S. Private Securities
Litigation Reform Act of 1995. Words such as "expects," "believes,"
"estimates," "anticipates," "targets," "goals," "projects," "intends," "plans,
"seeks," and variations of such words and similar expressions are intended to
identify such forward-looking statements, which are not statements of
historical fact. These forward-looking statements are not guarantees of future
performance and involve risks, uncertainties and assumptions that are
difficult to assess. Actual outcomes and results may differ materially from
what is expressed or forecasted in such forward-looking statements.Factors
that may cause actual outcomes to differ from what is expressed or forecasted
in these forward-looking statements include, among things: difficulties and
delays in integrating BBCN Bancorp and Foster Bankshares and achieving
anticipated synergies, cost savings and other benefits from the transaction;
higher than anticipated transaction costs; deposit attrition, operating costs,
customer loss and business disruption following the merger, including
difficulties in maintaining relationships with employees, may be greater than
expected; required governmental approvals of the merger may not be obtained on
its proposed terms and schedule, or without regulatory constraints that may
limit growth; competitive pressures among depository and other financial
institutions may increase significantly and have an effect on revenues; the
strength of the United States economy in general, and of the local economies
in which the combined company will operate, may be different than expected,
which could result in, among other things, a deterioration in credit quality
or a reduced demand for credit and have a negative effect on the combined
company's loan portfolio and allowance for loan losses; changes in the U.S.
legal and regulatory framework; and adverse conditions in the stock market,
the public debt market and other capital markets (including changes in
interest rate conditions) which would negatively affect the combined company's
business and operating results.

For a more complete list and description of such risks and uncertainties,
refer to BBCN Bancorp's Form 10-K for the year ended December 31, 2012, as
well as other filings made by BBCN Bancorp with the SEC. Except as required
under the U.S. federal securities laws and the rules and regulations of the
SEC, BBCN Bancorpdisclaims any intention or obligation to update any
forward-looking statements after the distribution of this press release,
whether as a result of new information, future events, developments, changes
in assumptions or otherwise.

CONTACT: Angie Yang
         SVP, Investor Relations

BBCN Bancorp, Inc. Company Logo
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