Wilshire Bancorp Announces Changes to Board of Directors
LOS ANGELES, Dec. 31, 2013 (GLOBE NEWSWIRE) -- Wilshire Bancorp, Inc.
(Nasdaq:WIBC) (the "Company"), the parent company of Wilshire Bank (the
"Bank"), today announced that Kyu-Hyun Kim and Young Hi Pak will retire from
both the Company's Board of Directors and the Bank's Board of Directors,
effective December 31, 2013. Both Mr. Kim and Mrs. Pak served on the Board of
Directors of the holding company and the Bank for 20 years.
The Company also announced that Steven J. Didion and Daisy Y. Ha have been
elected to the Board of Directors of Wilshire Bancorp as Class III directors,
effective January 1, 2014. Mr. Didion will serve as a member of the Company's
Nominating/Corporate Governance/Human Resources Committee, the chairman of the
Bank's Asset/Liability Management Committee, and a member of the Bank's
Information Technology Committee. Ms. Ha will serve as a member of the
Company's Nominating/Corporate Governance/Human Resources Committee and Audit
Committee, in addition to serving as a member of the Bank's Asset/Liability
Management Committee and Compliance/Community Reinvestment Act Committee.
"We would like to thank Mr. Kim and Mrs. Pak for their many years of excellent
service to Wilshire Bancorp," said Steven S. Koh, Chairman of the Board of
Wilshire Bancorp. "We are pleased to welcome Mr. Didion and Ms. Ha to the
Board of Directors. Mr. Didion has a long and distinguished career in the
financial services industry and is one of the foremost investors in community
banks, while Ms. Ha is a highly accomplished attorney with extensive
experience within the Korean-American community. We believe Mr. Didion and Ms.
Ha will bring valuable perspectives that will help guide the continued growth
of our franchise."
Steven J. Didion is currently General Partner and Portfolio Manager of JCSD
Partners, LP, a bank-focusedinvestmentfund based in California.Mr. Didion
has spent the past 25 years working with large and small banks, including
serving as CEO of Hoefer & Arnett, a bank-focused investment firm, and
initiated its eventual merger with Howe Barnes to form Howe Barnes Hoefer &
Arnett, Inc.Mr. Didion is currently on the Board of Directors of Rock
Bancshares and Heartland Bank.
Daisy Y. Ha is an attorney with 10 years of experience in a variety of legal
areas, including employment law, criminal law, and general civil law, and has
worked extensively within the United States District Court and the California
Courts of Appeal.Ms. Ha has a Juris Doctorate from the University of
California at Berkeley School of Law, where she published an article entitled
An Analysis and Critique of KIWA's Reform Efforts in the Los Angeles Korean
American Restaurant Industry.Ms. Ha also has a Bachelor of Arts degree from
Williams College and studied for a year at Yonsei University in Seoul, Korea.
ABOUT WILSHIRE BANCORP
Headquartered in Los Angeles, Wilshire Bancorp is the parent company of
Wilshire Bank, which operates 38 branch offices in California, Texas, New
Jersey and New York, and nine loan production offices in Dallas and Houston,
TX, Atlanta, GA, Aurora, CO, Annandale, VA, Fort Lee, NJ, Newark, CA, New
York, NY, and Bellevue, WA, and is an SBA preferred lender nationwide.
Wilshire 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. Undue reliance should not be placed on
forward-looking statements, as they are subject to risks and uncertainties,
including but not limited to the risk factors set forth in our most recent
Annual Report on Form 10-K and our other filings made from time to time with
the Securities and Exchange Commission.Specific factors that could cause
future results to differ materially from historical performance and these
forward-looking statements include, but are not limited to: (1) loan
production and sales, (2) credit quality, (3) the ability to expand net
interest margin, (4) the ability to continue to attract low-cost deposits, (5)
success of expansion efforts, (6) competition in the marketplace, (7)
political developments, war or other hostilities, (8) changes in the interest
rate environment, (9) the ability of our borrowers to repay their loans, (10)
the ability to maintain capital requirements and adequate sources of
liquidity, (11) effects of or changes in accounting policies, (12) legislative
or regulatory changes or actions, (13) the ability to attract and retain key
personnel, (14) the ability to receive dividends from our subsidiaries, (15)
the ability to secure confidential information through the use of computer
systems and telecommunications networks, (16) weakening in the economy,
specifically the real estate market, either nationally or in the states in
which we do business, and (17) general economic conditions. 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: Alex Ko, EVP & CFO, (213) 427-6560
Press spacebar to pause and continue. Press esc to stop.