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Wilshire Bancorp Reports Net Income of $14.7 Million or $0.19 per Share for Second Quarter 2014

Wilshire Bancorp Reports Net Income of $14.7 Million or $0.19 per Share for Second Quarter 2014  LOS ANGELES, July 21, 2014 (GLOBE NEWSWIRE) -- Wilshire Bancorp, Inc. (Nasdaq:WIBC) (the "Company"), the holding company for Wilshire Bank (the "Bank"), today reported net income available to common shareholders of $14.7 million, or $0.19 per diluted common share, for the quarter ended June 30, 2014. This compares to net income available to common shareholders of $11.5 million, or $0.16 per diluted common share, for the same period of the prior year, and net income available to common shareholders of $13.1 million, or $0.17 per diluted common share, for the first quarter of 2014.  Jae Whan (J.W.) Yoo, President and CEO of Wilshire Bancorp, said, "We are pleased with our performance in the second quarter, which resulted in a strong level of returns, with our return on average assets totaling 1.62% and our return on average equity totaling 12.77%. With the integration of the BankAsiana and Saehan Bancorp acquisitions complete, we have been able to devote more resources and shift our focus to business development with our larger banking team. As a result, we generated $282 million in loan production in the second quarter, which is a record level for the Company and 45% higher than our loan production in the same period last year. We also continue to see very positive trends in deposit gathering, with solid growth in total deposits and steady improvement in our deposit mix. We have built a great deal of momentum since our acquisitions and we expect to see a continuation of our positive trends in the second half of 2014."  Q2 2014 Summary    *Net income available to common shareholders totaled $14.7 million, or     $0.19 per diluted common share, for the second quarter of 2014        *Total revenue of $46.9 million for the second quarter of 2014, an increase     of 38% from the second quarter of 2013        *Return on average assets of 1.62% and return on average equity of 12.77%     for the second quarter of 2014        *Net interest margin of 4.35% for the second quarter of 2014, an increase     from 3.97% for the second quarter of 2013        *Loans receivable (net of deferred fees and costs) totaled $2.97 billion at     June 30, 2014, an increase of 42% from $2.09 billion at June 30, 2013        *Total deposits were $2.96 billion at June 30, 2014, an increase of 35%     from $2.18 billion at June 30, 2013        *Continued low credit losses and improvement in asset quality resulted in     no provision for losses on loans and loan commitments for the second     quarter of 2014  STATEMENT OF OPERATIONS  Net Interest Income and Margin  Net interest income before provision for losses on loans and loan commitments totaled $36.1 million for the second quarter of 2014, an increase of 40% from $25.8 million for the second quarter of 2013, and an increase of 3% from $35.2 million for the first quarter of 2014. The increase from the prior quarter is primarily attributable to a higher average loan balance and an increase in loan yields.  Net interest margin was 4.35% for the second quarter of 2014, compared to 4.22% for the first quarter of 2014, and 3.97% for the second quarter of 2013. Excluding the effect of the amortization/accretion of the purchase accounting adjustments for the acquisitions for Saehan Bancorp and BankAsiana, the net interest margin was 4.00% for the second quarter of 2014, compared with 3.85% for the first quarter of 2014. The increase in net interest margin is attributable to an increase in average yield on loans, excluding the effects of purchase accounting adjustments, and a more favorable mix of interest-earning assets.  Loan yields were 5.20% for the second quarter of 2014, compared with 5.15% for the first quarter of 2014, and 4.97% for the second quarter of 2013. Excluding the effect of the accretion of the purchase accounting adjustments for Saehan Bancorp and BankAsiana, loan yields were 4.85% for the second quarter of 2014, compared to 4.77% for the first quarter of 2014.  The total cost of deposits was 0.48% for the second quarter of 2014, compared with 0.51% for both the first quarter of 2014 and the second quarter of 2013.  Non-Interest Income  Total non-interest income was $10.7 million for the second quarter of 2014, compared to $8.3 million for the second quarter of 2013, and $11.0 million for the first quarter of 2014. The decrease from the prior quarter was primarily due to a lower level of income on servicing assets, which was partially offset by a higher net gain on sale of Small Business Administration ("SBA") loans.  The $4.7 million in net gain on sale of loans recognized during the second quarter of 2014 consisted substantially of gains from the sale of SBA loans. Net gain on sale of loans for the first quarter of 2014 was $4.3 million. During the second quarter of 2014, the Company sold $45.3 million in SBA loans, compared with $43.5 million sold during the first quarter of 2014.  Non-Interest Expense  Total non-interest expense was $24.6 million for the second quarter of 2014, compared with $17.1 million for the second quarter of 2013, and $26.3 million for the first quarter of 2014. Excluding merger-related expenses, the increase in non-interest expense from the prior quarter was attributable to an impairment charge to the Company's FDIC indemnification asset, an increase in losses on low income housing tax credit investments, and an increase in OREO provisions. Merger related costs for the second quarter of 2014 totaled $213,000, compared to $3.4 million for the first quarter of 2014.  The Company's loss share agreement with the FDIC relating to covered loans acquired from Mirae Bank expired on June 30, 2014. The remaining FDIC indemnification asset, less reimbursements to be received, was written off as an impairment to the asset. The impairment charge to the Company's FDIC indemnification asset reflects a lower level of losses than expected on covered loans acquired from Mirae Bank.  Total salaries and employee benefits expense was $12.5 million for the second quarter of 2014, compared with $9.5 million for the second quarter of 2013, and $12.7 million for the first quarter of 2014.  Other non-interest expense for the second quarter of 2014 totaled $7.1 million, compared with $4.9 million in the second quarter of 2013, and $6.0 million for the first quarter of 2014. The increase from the prior quarter was primarily attributable to a $490,000 increase in losses on low income housing tax credit investments and a $246,000 increase in provision for OREO.  The Company's operating efficiency ratio was 52.4% for the second quarter of 2014, compared with 50.1% for the second quarter of 2013 and 56.9% for the first quarter of 2014.  BALANCE SHEET  Total gross loans receivable (not including deferred fees and costs) were $2.98 billion at June 30, 2014, compared to $2.88 billion at March 31, 2014. The increase in loans during the second quarter of 2014 was primarily attributable to growth in the commercial real estate and commercial and industrial portfolios.  The following table shows gross loans receivable and gross loans by loan type:                Quarter Ended (Dollars In    June 30,      March 31,     December      September     June 30, Thousands)     2014         2014         31, 2013     30, 2013     2013 (Unaudited) Construction   $44,598     $43,277     $40,367     $32,119     $36,371 Real Estate    2,485,875    2,401,203    2,332,121    1,819,052    1,715,567 Secured Commercial &   435,693      419,313      437,524      342,057      337,057 Industrial Consumer       13,075       16,100       14,694       9,637        11,089 Gross Loans   2,979,241    2,879,893    2,824,706    2,202,865    2,100,084 Receivable * Held-For-Sale 6,207        27,791       47,557       56,065       60,910 Loans Total Gross   $2,985,448  $2,907,684  $2,872,263  $2,258,930  $2,160,994 Loans *                                                                                            * Gross loans receivable and total gross loans are not net of deferred fees and            costs as shown in the consolidated balance sheet presentation  The following table presents the June 30, 2014 balance of gross loans by loan type and broken out by legacy Wilshire loans, and loans acquired from former Mirae Bank, BankAsiana, and Saehan Bancorp.                At June 30, 2014 (Dollars In                  Saehan      Mirae      Legacy Thousands)     BankAsiana*  Bancorp*   Bank*     Wilshire     Total (Unaudited) Construction   $3,755      $--       $--      $40,843     $44,598 Real Estate    109,780      330,117    57,243    1,988,735    2,485,875 Secured Commercial &   28,266       27,239     3,174     377,014      435,693 Industrial Consumer       3            929        2         12,141       13,075 Gross Loans   141,804      358,285    60,419    2,418,733    2,979,241 Receivable Held-For-Sale 384          --         --        5,823        6,207 Loans Total Gross   $142,188    $358,285  $60,419  $2,424,556  $2,985,448 Loans                                                                                        * Represents loans balances net of fair value adjustment                              The following table shows quarterly loan originations by loan type:              Quarter Ended                                                                                 (Dollars In                                        December 31,       September 30, Thousands)   June 30, 2014     March 31, 2014    2013              2013             June 30, 2013 (Unaudited) Real Estate  $170,042  60%   $96,266   49%   $132,780  60%   $145,361  68%   $93,606   48%   Secured Commercial & 31,058     11%   36,619     18%   30,541     14%   23,710     11%   40,927     21%   Industrial Consumer     1,580      1%    632        0%    546        0%    540        0%    75         0%    SBA          37,004     13%   35,305     18%   44,599     20%   36,001     17%   40,209     21%   Residential  42,325     15%   29,063     15%   13,858     6%    8,714      4%    20,022     10%   Mortgage Total Loan  $282,009  100%  $197,885  100%  $222,324  100%  $214,326  100%  $194,839  100%  Originations  Originations for the second quarter of 2014 totaled $282.0 million, compared to $197.9 million for the first quarter of 2014, and $194.8 million for the second quarter of 2013. The increase from the previous quarter was primarily due to higher real estate secured and residential mortgage loan production.  Total SBA loans held-for-sale at the end of the second quarter of 2014 were $5.1 million, compared to $26.8 million at the end of the previous quarter. The decision to retain or sell SBA loans is made on a quarter-to-quarter basis, depending on prevailing pricing in the secondary market and the Company's liquidity needs.  Total deposits were $2.96 billion at June 30, 2014, compared with $2.92 billion at March 31, 2014.The increase in total deposits was primarily attributable to growth in non-interest bearing demand deposits, which was partially offset by a decline in money market deposits.  CREDIT QUALITY  The Company experienced a decline across most problem loan categories and a low level of credit losses during the second quarter of 2014.The Company determined that no provision for losses on loans and loan commitments was required for the second quarter of 2014. The allowance for loan losses totaled $52.7 million, or 1.77% of gross loans (excluding loans held-for-sale), at June 30, 2014, compared to $53.5 million, or 1.86% of gross loans (excluding loans held-for-sale), at March 31, 2014. Acquired loans, included in the allowance coverage ratios, were recorded at fair value and the remaining discount on these loans approximated $27.9 million at June 30, 2014.The coverage ratio of the allowance for loan losses to non-performing assets was 107.41% at June 30, 2014, compared with 102.66% at March 31, 2014.  Non-Performing Loans  At June 30, 2014, total non-performing loans were $42.4 million, or 1.42% of total gross loans, compared to $43.1 million, or 1.48% of total gross loans, at March 31, 2014.  The following table shows total non-performing loans by loan type:  NON-PERFORMING LOANS      Quarter Ended (Dollars In Thousands)    Jun 30,   Mar 31,   Dec 31,   Sep 30,   Jun 30, (Unaudited)               2014       2014       2013       2013       2013 (Net of SBA Guaranty                                           Portions) Construction              $--      $--      $2,471   $2,471   $5,467 Real Estate Secured       35,585    35,988    33,569    29,568    20,090 Commercial & Industrial   6,769     7,121     1,196     1,004     1,224 Consumer                  4         --        --        --        -- Total Non-Performing     $42,358  $43,109  $37,236  $33,043  $26,781 Loans  Net Charge-offs/Recoveries  During the second quarter of 2014, the Company had total gross charge-offs of $1.8 million and recoveries of $1.0 million for net charge-offs of $795,000.  Gross charge-offs and recoveries by loan type are reflected in the tables below:  GROSS LOAN CHARGE-OFFS       Quarter Ended                                    (Dollars In Thousands)       Jun 30,  Mar 31,  Dec 31,  Sep 30,  Jun 30, (Unaudited)                  2014      2014      2013      2013      2013                                                              Real Estate Secured          $782    $672    $552    $2,438  $3,668 Commercial & Industrial      1,021    964      997      764      746 Consumer                     --       1        2        --       -- Total Loan Charge-Offs       $1,803  $1,637  $1,551  $3,202  $4,414                                          LOAN RECOVERIES              Quarter Ended                                    (Dollars In Thousands)       Jun 30,  Mar 31,  Dec 31,  Sep 30,  Jun 30, (Unaudited)                  2014      2014      2013      2013      2013                                                              Real Estate Secured          $586    $1,028  $2,038  $148    $340 Commercial & Industrial      408      510      679      510      433 Consumer                     14       --       --       4        1 Total Loan Recoveries        $1,008  $1,538  $2,717  $662    $774  Other measures of credit quality are shown in the following tables:  DELINQUENTLOANS --By Days    Quarter Ended Past Due (Dollars In Thousands)         Jun 30,  Mar 31,  Dec 31,  Sep 30,  Jun 30, (Unaudited)                    2014      2014      2013      2013      2013 (Net of SBA Guaranty Portions)                                  30 - 59 Days Past Due          $4,556  $5,756  $2,846  $2,336  $4,993 60 - 89Days Past Due          2,992    1,526    2,527    2,827    3,637 90 Days, and still accruing    --       --       167      --       126 Total Delinquent Loans         $7,548  $7,282  $5,540  $5,163  $8,756                                          TROUBLED DEBT           Quarter Ended RESTRUCTURED LOANS (Dollars In Thousands)  Jun 30,   Mar 31,   Dec 31,   Sep 30,   Jun 30,   (Unaudited)             2014       2014       2013       2013       2013 (Net of SBA Guaranty                                                 Portions) Real Estate Secured     $33,349  $34,565  $30,008  $23,133  $23,671  Commercial & Industrial 5,542     5,563     6,212     6,339     6,730     Total TDR Loans         $38,891  $40,128  $36,220  $29,472  $30,401                                           LOAN CLASSIFICATIONS Quarter Ended (Dollars In          Jun 30,     Mar 31,     Dec 31,     Sep 30,     Jun 30, Thousands)           2014       2014       2013       2013       2013 (Unaudited) (Net of SBA Guaranty                                          Portions) Special Mention      $88,382   $101,627  $100,798  $43,519   $49,571 Substandard          110,462    127,996    149,479    127,855    138,319 Doubtful             18,040     19,931     8,015      7,174      6,722 Total Criticized and $216,884  $249,554  $258,292  $178,548  $194,612 Classified Loans                                                              Classified Loans     $128,502  $147,927  $157,494  $135,029  $145,041  CAPITAL RATIOS  All of the Company's capital ratios remain in excess of "well capitalized" regulatory requirements as shown in the following table:  (Dollars In Thousands, Except June 30,   Well Capitalized   Total Excess Above Per Share Info)               2014     Regulatory        Well Capitalized                                          Requirements       Requirements                                                         Tier 1 Leverage Capital Ratio 12.89%    5.00%             $279,225 Tier 1 Risk-Based Capital     15.05%    6.00%             $274,263 Ratio Total Risk-Based Capital      16.31%    10.00%            $191,121 Ratio Tangible Common Equity To     10.88%    N/A               N/A Tangible Assets * Tangible Common Equity Per    $5.02    N/A               N/A Common Share *                                                          * "Tangible Common Equity" and "Tangible Assets" are Non-GAAP measures of financial performance.Please refer to the "Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures" table at the end of this press release for a reconciliation of Tangible Common Equity to Shareholders' Equity and Tangible Assets to Total Assets.  CONFERENCE CALL  Management will host its quarterly conference call on July 22, 2014, at 11:00 a.m. PT (2:00 p.m. ET). Investment professionals are invited to participate in the call by dialing 877-415-3185 (domestic) or 857-244-7328 (international) and providing passcode number 69604633.  ABOUT WILSHIRE BANCORP  Headquartered in Los Angeles, Wilshire Bancorp is the parent company of Wilshire Bank, which operates 35branch offices in California, Texas, New Jersey and New York, and 7 loan production offices in Dallas, TX, Atlanta, GA, Aurora, CO, Annandale, VA, Palisades Park, NJ, Newark, CA, and New York, NY, 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.  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. 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, (17) the integration of our acquired businesses, and (18) 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.                                          CONSOLIDATED BALANCE SHEET                                          (Dollars In                                     Three                   Twelve Thousands)       June 30,      March 31,     Months  June 30,      Months (Unaudited)                 2014          2014          %       2013          %                                                 Change                  Change ASSETS:                                                         Cash and due     $ 155,799    $ 160,999    -3%     $162,553    -4% from banks Federal funds sold and other   927           7,301         -87%    55,005        -98% cash equivalents Total Cash and Cash             156,726       168,300       -7%     217,558       -28% Equivalents                                                                Deposits held in other         20,509        21,006        -2%     --            0% financial institutions                                                                Investment securities       327,239       342,438       -4%     303,836       8% available for sale Investment securities held  30            32            -6%     42            -29% to maturity Total Investment       327,269       342,470       -4%     303,878       8% Securities                                                                Total Loans      6,207         27,791        -78%    60,910        -90% Held-For-Sale                                                                Real estate     43,292        42,124        3%      35,513        22% construction Residential     167,055       169,810       -2%     153,393       9% real estate Commercial      2,314,746     2,225,677     4%      1,557,922     49% real estate Commercial and  431,758       417,956       3%      336,048       28% industrial Consumer        13,044        16,072        -19%    11,068        18% Total loans receivable, net  2,969,895     2,871,639     3%      2,093,944     42% of deferred fees and costs Allowance for    (52,669)      (53,464)      -1%     (54,937)      -4% loan losses Loans Receivable, Net  2,917,226     2,818,175     4%      2,039,007     43% of Allowance for Loan Losses                                                                Accrued interest         8,032         8,293         -3%     7,135         13% receivable Due from customers on     3,090         889           248%    293           955% acceptances Other real       6,676         8,969         -26%    982           580% estate owned Premises and     12,925        13,313        -3%     11,699        10% equipment Federal home loan bank        16,989        15,983        6%      13,280        28% (FHLB) stock, at cost Cash surrender value of life    22,803        22,661        1%      22,225        3% insurance Investment in affordable       41,112        42,459        -3%     45,511        -10% housing partnerships Deferred income  32,459        34,391        -6%     17,734        83% taxes Servicing        18,168        17,536        4%      11,040        65% assets Goodwill         67,528        67,528        0%      6,675         912% FDIC indemnification  267           2,169         -88%    5,311         -95% asset Other assets     23,275        22,533       3%      24,163       -4% TOTAL ASSETS     $            $3,634,466  1%      $2,787,401  32%                   3,681,261                                                                LIABILITIES AND SHAREHOLDERS'                                                   EQUITY: LIABILITIES:                                                    Non-interest bearing demand   $945,010     $869,598     9%      $624,770     51% deposits Savings and interest         160,155       156,587       2%      130,352       23% checking Money market     758,833       799,299       -5%     625,204       21% deposits Time deposits in denomination  856,681       860,697       0%      584,140       47% of $100,000 or more Other time       235,335       237,028       -1%     217,832       8% deposits Total Deposits   2,956,014     2,923,209     1%      2,182,298     35%                                                                FHLB borrowings  150,260       150,292       0%      150,000       0% Acceptance       3,090         889           248%    293           955% outstanding Junior subordinated     71,665        71,610        0%      61,857        16% debentures Accrued interest         2,349         2,462         -5%     2,072         13% payable Other            33,114        34,429        -4%     35,547        -7% liabilities Total            3,216,492     3,182,891     1%      2,432,067     32% Liabilities                                                                SHAREHOLDERS'                                                   EQUITY: Common stock     231,368       230,979       0%      160,932       44% Retained         229,556       218,806       5%      191,823       20% earnings Accumulated other            3,845         1,790         115%    2,579         49% comprehensive income Total Shareholders'    464,769       451,575       3%      355,334       31% Equity TOTAL LIABILITIES AND  $3,681,261  $3,634,466  1%      $2,787,401  32% SHAREHOLDERS' EQUITY                                          CONSOLIDATED STATEMENT OF                                                          OPERATIONS (Dollars In Thousands, Except                                                     Per Share Data) (Unaudited)                    Quarter Ended             Three  Quarter    Twelve                                                 Mths    Ended        Mths                    June 30,    March 31,   %       June 30,    % Change                      2014         2014         Change   2013                                                             INTEREST INCOME                                              Interest and fees   $37,993    $37,101    2%      $26,970    41% on loans Interest on investment          2,023       2,101       -4%     1,743       16% securities Interest on federal funds sold  92          151         -39%    136         -32% and others Total Interest      40,108      39,353      2%      28,849      39% Income                                                             INTEREST EXPENSE                                             Deposits            3,486       3,676       -5%     2,750       27% FHLB advances and   493         504         -2%     345         43% other borrowings Total Interest      3,979       4,180       -5%     3,095       29% Expense                                                             Net interest income before provision for       36,129      35,173      3%      25,754      40% losses on loans and loan commitments Provision for losses on loans     --          --          0%      --          0% and loan commitments                                                             Net interest income after provision for       36,129      35,173      3%      25,754      40% losses on loans and loan commitments                                                             NONINTEREST INCOME                                           Service charges    3,174       3,146       1%      2,811       13% on deposits Gain on sales of   4,687       4,329       8%      3,135       50% loans, net Gain on sale/call of investment       --          --          0%      15          -100% securities Other              2,883       3,511       -18%    2,371       22% Total Noninterest  10,744      10,986      -2%     8,332       29% Income                                                             NONINTEREST                                                  EXPENSES Salaries and       12,449      12,655      -2%     9,548       30% employee benefits FDIC indemnification     597         --          0%      --          0% impairment Occupancy and      3,444       3,309       4%      2,038       69% equipment Data processing    795         963         -17%    583         36% Merger related     213         3,364       -94%    --          0% costs Other              7,052       5,966       18%     4,913       44% Total Noninterest   24,550      26,257      -7%     17,082      44% Expenses                                                             Income before      22,323      19,902      12%     17,004      31% income taxes Income taxes       7,659       6,789       13%     5,465       40% provision NET INCOME          $14,664    $13,113    12%     $11,539    27%                                                             PER COMMON SHARE                                             INFORMATION: Basic income per   $0.19      $0.17      12%     $0.16      15% common share Diluted income     $0.19      $0.17      12%     $0.16      15% per common share                                                             WEIGHTED-AVERAGE COMMON SHARES                                                OUTSTANDING: Basic              78,267,128  78,115,779         70,944,626   Diluted            78,613,468  78,496,106         71,101,787                                            CONSOLIDATED STATEMENT OF OPERATIONS                                (Dollars In Thousands, Except Per                                  Share Data) (Unaudited)                                    Six Months Ended                 Twelve                                                                       Months                                   June 30, 2014  June 30, 2013  % Change                                                                         INTEREST INCOME                                                         Interest and fees on loans         $75,094       $53,855       39%       Interest on investment securities  4,124          3,468          19%       Interest on federal funds sold     243            289            -16%      Total Interest Income              79,461         57,612         38%                                                                              INTEREST EXPENSE                                                        Deposits                           7,162          5,599          28%       FHLB advances and other            997            707            41%       borrowings Total Interest Expense             8,159          6,306          29%                                                                              Net interest income before provision for losses on loans and  71,302         51,306         39%       loan commitments Provision for losses on loans and  --             --             0%        loan commitments                                                                        Net interest income after provision for losses on loans and  71,302         51,306         39%       loan commitments                                                                        NONINTEREST INCOME                                                      Service charges on deposits        6,320          5,619          12%       Gain on sales ofloans, net        9,016          6,621          36%       Gain on sale/call of investment    --             15             -100%     securities Other                              6,394          4,782          34%       Total Noninterest Income           21,730         17,037         28%                                                                              NONINTEREST EXPENSES                                                    Salaries and employee benefits     25,104         18,353         37%       FDIC indemnification impairment    597            --             0%        Occupancy and equipment            6,753          4,078          66%       Data processing                    1,758          1,258          40%       Merger related costs               3,577          --             0%        Other                              13,018         10,677         22%       Total Noninterest Expenses         50,807         34,366         48%                                                                              Income before income taxes         42,225         33,977         24%       Income taxes provision             14,448         10,849         33%       NET INCOME                         $27,777       $23,128       20%                                                                              PER COMMON SHARE INFORMATION:                                           Basic income per common share      $0.36         $0.33         9%        Diluted income percommon share    $0.35         $0.32         9%                                                                               WEIGHTED-AVERAGE COMMON SHARES                                          OUTSTANDING: Basic                              78,191,872     71,119,180              Diluted                            78,554,947     71,262,224                                                                             SUMMARY OF                                                     FINANCIAL DATA (Dollars In Thousands, Except                                              Per Share Data) (Unaudited)                                                                                  Quarter Ended                                       AVERAGE BALANCES    June 30,         March 31,        June 30,                         2014                2014                2013 Average Assets      $                $                $                                3,614,014           3,631,268           2,770,996 Average Equity      459,423          447,188          356,287     Average Net Loans  2,923,225        2,881,650        2,172,473   Average Deposits    2,896,815        2,878,950        2,170,628   Average Time Deposits of         865,110          874,039          586,136     $100,000 or more Average FHLB &      150,280          193,413          150,000     Other Borrowings Average Interest   3,337,010        3,346,954        2,613,813   Earning Assets                                                                                  Six Months Ended                                    AVERAGE BALANCES    June 30,                         June 30,                         2014                                    2013 Average Assets      $                                $                                3,619,793                               2,747,399 Average Equity      453,495                          352,202     Average Net Loans  2,901,713                        2,149,832   Average Deposits    2,885,642                        2,153,134   Average Time Deposits of         868,318                          583,688     $100,000 or more Average FHLB &      171,727                          150,022     Other Borrowings Average Interest    3,341,003                        2,597,226   Earning Assets                                                                                  Quarter Ended                                       PROFITABILITY       June 30,         March 31,        June 30,                         2014                2014                2013 Annualized Return   1.62%            1.44%            1.67%       on Average Assets Annualized Return   12.77%           11.73%           12.95%      on Average Equity Efficiency Ratio    52.38%           56.88%           50.11%      Annualized Operating           2.72%            2.89%            2.47%       Expense/Average Assets Annualized Net      4.35%            4.22%            3.97%       Interest Margin                                                                                  Six Months Ended                                    PROFITABILITY       June 30,                         June 30,                         2014                                    2013 Annualized Return   1.53%                            1.68%       on Average Assets Annualized Return   12.25%                           13.13%      on Average Equity Efficiency Ratio    54.61%                           50.28%      Annualized Operating           2.81%                            2.50%       Expense/Average Assets Annualized Net      4.29%                            3.98%       Interest Margin                                                                                                                             DEPOSIT              June 30,    Cost    March 31,   Cost    June 30,    Cost COMPOSITION        2014       of     2014       of     2013       of                                  Funds               Funds               Funds Noninterest Bearing Demand      32.00%     0.00%  29.70%     0.00%  28.60%     0.00% Deposits Savings & Interest  5.40%      1.19%  5.40%      1.28%  6.00%      1.43% Checking Money Market        25.70%     0.66%  27.30%     0.66%  28.60%     0.63% Deposits Time Deposits of    29.00%     0.60%  29.40%     0.68%  26.80%     0.60% $100,000 or More Other Time          8.00%      0.77%  8.10%      0.67%  10.00%     0.78% Deposits Total Deposits     100.00%    0.48%  100.00%    0.51%  100.00%    0.51%                                                               CAPITAL RATIOS      June 30,         March 31,        June 30,                         2014                2014                2013 Tier 1 Leverage     12.89%           12.50%           14.67%      Ratio Tier 1 Risk-Based   15.05%           14.92%           18.73%      Capital Ratio Total Risk-Based    16.31%           16.17%           20.00%      Capital Ratio Total Shareholders'       $ 464,769        $ 451,575        $ 355,334   Equity Book Value Per      $5.94            $5.77            $5.03       Common Share Tangible Common Equity Per Common   $5.02            $4.84            $4.92       Share * Tangible Common Equity to Tangible  10.88%           10.64%           12.51%      Assets ** * Tangible common equity excludes goodwill, other intangible assets ** Tangible assets excludes goodwill and intangible assets                                          ALLOWANCE FOR LOAN LOSSES                                                      (Dollars In Thousands)                                                               (Unaudited)                       Quarter Ended                       June 30,  March     December  September  June 30,                          2014       31, 2014   31, 2013   30, 2013    2013                                                                     Balance at Beginning   $53,464  $53,563  $52,397  $54,937   $58,577  of Period Provision for Losses   --        --        --        --         --        on Loans Recoveries on Loans Previously             1,008     1,538     2,717     662        774       Charged-off Gross Loan             (1,803)   (1,637)   (1,551)   (3,202)    (4,414)   Charge-offs Balance at End of      $52,669  $53,464  $53,563  $52,397   $54,937  Period                                                                     Net Loan Charge-offs/Average    0.03%     0.00%     -0.04%    0.12%      0.17%     Net Loans Charge-offs/Average    0.06%     0.06%     0.06%     0.15%      0.21%     Total Loans Allowance for Loan     1.77%     1.86%     1.90%     2.38%      2.62%     Losses/Gross Loans* Allowance for Loan Losses/Non-accrual     124.34%   124.02%   144.50%   158.57%    206.10%   Loans Allowance for Loan Losses/Non-performing  124.34%   124.02%   143.85%   158.57%    205.13%   Loans Allowance for Loan Losses/Non-performing  107.41%   102.66%   119.46%   155.06%    197.88%   Assets Allowance for Loan Losses/Classified      34.01%    34.01%    34.01%    38.80%     37.88%    Loans                                                                     * Excluding                                                          held-for-sale loans                                                                     NON-PERFORMING ASSETS                                                          (Dollars In Thousands, Net of SBA  Quarter Ended                                          Guaranty) (Unaudited)            June 30,  March     December  September  June 30,                          2014       31, 2014   31, 2013   30, 2013    2013                                                                     Non-accrual Loans      $42,358  $43,109  $37,068  $33,043   $26,655  Loans 90 days or more past due and still     --        --        168       --         126       accruing Total Non-performing   42,358    43,109    37,236    33,043     26,781    Loans                                                                     Total OREO             6,676     8,969     7,600     748        982                                                                           Total Non-performing   $49,034  $52,078  $44,836  $33,791   $27,763  Assets                                                                     Total Non-performing   1.42%     1.48%     1.30%     1.46%      1.24%     Loans/Gross Loans Total Non-performing   1.33%     1.43%     1.24%     1.19%      1.00%     Assets/Total Assets                                                                      ALLOWANCE FOR OFF-BALANCE                                    SHEET ITEMS (Dollars In Thousands)         Quarter Ended (Unaudited)                               June 30, 2014  March 31, 2014  June 30, 2013                                                             Balance at beginning of        $ 1,061        $ 1,061         $ 1,023 period Credit for losses on           --             --              -- off-balance sheet items Balance at end of period       $ 1,061        $ 1,061         $ 1,023                                                                                                                                                       Six Months Ended                                               June 30, 2014  June 30, 2013                                                                Balance at beginning of        $ 1,061        $ 1,023          period Credit for losses on           --             --               off-balance sheet items Balance at end of period       $ 1,061        $ 1,023             WILSHIRE BANCORP, INC. AND SUBSIDIARIES AVERAGE BALANCES, AVERAGE YIELDS EARNED AND AVERAGE RATES PAID (Dollars In Thousands) (Unaudited)                  For the Quarter Ended                 June 30, 2014                   March 31, 2014                   June 30, 2013                 Average     Interest  Average  Average     Interest  Average   Average     Interest  Average                 Balance     Income/   Yield/   Balance     Income/   Yield/    Balance     Income/   Yield/ INTEREST                   Expense   Rate                Expense   Rate                 Expense   Rate EARNING ASSETS                                                                                               LOANS:                                                                                         Real Estate      $2,497,372 $31,753  5.09%    $2,447,610 $31,008  5.07%     $1,815,010 $22,074  4.87% Loans Commercial Loans 421,163     5,120     4.86%    430,076     4,919     4.58%     351,460     4,061     4.62% Consumer Loans   13,426      133       3.96%    11,873      118       3.98%     11,299      75        2.66% Total Gross      2,931,961   37,006    5.05%    2,889,559   36,045    4.99%     2,177,769   26,210    4.81% Loans Deferred Fees and Costs \ Loan (8,736)     987               (7,909)     1,056              (5,296)     760        Fees Total Loans *    2,923,225   37,993    5.20%    2,881,650   37,101    5.15%     2,172,473   26,970    4.97%                                                                                               INVESTMENT                                                                                     SECURITIES AND OTHER INTEREST-EARNING                                                                               ASSETS: Investment       338,060     2,023     2.60%    349,701     2,101     2.60%     323,502     1,743     2.39% Securities** Deposits Held In Other            20,539      70        1.36%    21,019      69        1.31%     --          --        0.00% Institutions Federal Funds    55,186      22        0.16%    94,584      82        0.35%     117,838     136       0.46% Sold & Others Total Investment                                                                               Securities and Other Earning   413,785     2,115     2.21%    465,304     2,252     2.09%     441,340     1,879     1.87% Assets                                                                                               TOTAL INTEREST-EARNING $3,337,010 $40,108  4.83%    $3,346,954 $39,353  4.72%     $2,613,813 $28,849  4.44% ASSETS                                                                                               Total Non-Interest     277,004                      284,314                       157,183               Earning Assets TOTAL ASSETS     $3,614,014                  $3,631,268                   $2,770,996                                                                                                         INTEREST BEARING                                                                               LIABILITIES                                                                                               INTEREST-BEARING                                                                               DEPOSITS: Money Market     $770,512   $1,276   0.66%    $784,219   $1,301   0.66%     $617,837   $971     0.63% NOW              34,812      16        0.18%    32,019      15        0.19%     27,915      14        0.20% Savings          120,274     445       1.48%    120,908     476       1.58%     101,263     447       1.77% Time Deposits of 865,110     1,296     0.60%    874,039     1,485     0.68%     586,136     884       0.60% $100,000 or More Other Time       235,907     453       0.77%    236,826     399       0.67%     223,256     434       0.78% Deposits Total Interest   2,026,615   3,486     0.69%    2,048,011   3,676     0.72%     1,556,407   2,750     0.71% Bearing Deposits                                                                                               BORROWINGS:                                                                                    FHLB Advances and Other        150,280     67        0.18%    193,413     74        0.15%     150,000     64        0.17% Borrowings Junior Subordinated     71,631      426       2.38%    71,573      430       2.40%     61,857      281       1.82% Debentures Total Borrowings 221,911     493       0.89%    264,986     504       0.76%     211,857     345       0.65%                                                                                               TOTAL INTEREST BEARING          $2,248,526 $3,979   0.71%    $2,312,997 $4,180   0.72%     $1,768,264 $3,095   0.70% LIABILITIES                                                                                               Non-Interest    870,200                      830,939                       614,221               Bearing Deposits Other           35,865                       40,144                        32,224                Liabilities Shareholders'   459,423                      447,188                       356,287               Equity TOTAL LIABILITIES AND  $3,614,014                  $3,631,268                   $2,770,996           EQUITY                                                                                               NET INTEREST                $36,129                     $35,173                      $25,754   INCOME .                                                                                              NET INTEREST                         4.12%                        4.00%                         3.74% SPREAD                                                                                               NET INTEREST                         4.35%                        4.22%                         3.97% MARGIN ^* Allowance for loan losses excluded from average total loans and earning                                            assets ^** Tax equivalent ratios for investment securities                                                                                                             WILSHIRE BANCORP, INC. AND SUBSIDIARIES AVERAGE BALANCES, AVERAGE YIELDS EARNED AND AVERAGE RATES PAID (Dollars In Thousands) (Unaudited)                  For the Six Months Ended                 June 30, 2014                   June 30, 2013                 Average     Interest  Average  Average     Interest  Average                 Balance     Income/   Yield/   Balance     Income/   Yield/ INTEREST                   Expense  Rate               Expense  Rate EARNING ASSETS                                                                  LOANS:                                                            Real Estate      $2,472,184 $62,762  5.08%    $1,795,056 $44,176  4.92% Loans Commercial Loans 425,284     10,039    4.72%    347,752     8,024     4.62% Consumer Loans   12,567      250       3.98%    12,059      155       2.57% Total Gross      2,910,035   73,051    5.02%    2,154,867   52,355    4.86% Loans Deferred Fees and Costs \ Loan (8,322)     2,043             (5,035)     1,500      Fees Total Loans *    2,901,713   75,094    5.18%    2,149,832   53,855    5.01%                                                                  INVESTMENT                                                        SECURITIES AND OTHER INTEREST-EARNING                                                  ASSETS: Investment       343,764     4,124     2.60%    323,879     3,468     2.38% Securities** Deposits Held In Other            20,776      139       1.34%    --          --        0.00% Institutions Federal Funds    74,750      104       0.28%    123,515     289       0.47% Sold & Others Total Investment                                                  Securities and Other Earning   439,290     4,367     2.15%    447,394     3,757     1.85% Assets                                                                  TOTAL INTEREST-EARNING $3,341,003 $79,461  4.78%    $2,597,226 $57,612  4.47% ASSETS                                                                  Total Non-Interest     278,790                      150,173               Earning Assets TOTAL ASSETS     $3,619,793                  $2,747,399                                                                            INTEREST BEARING                                                  LIABILITIES                                                                  INTEREST-BEARING                                                  DEPOSITS: Money Market     $778,796   $2,577   0.66%    $620,639   $1,947   0.63% NOW              33,454      31        0.19%    26,941      26        0.19% Savings          117,543     921       1.57%    100,914     912       1.81% Time Deposits of 868,318     2,781     0.64%    583,688     1,808     0.62% $100,000 or More Other Time       238,445     852       0.72%    229,524     906       0.79% Deposits Total Interest   2,036,556   7,162     0.70%    1,561,706   5,599     0.72% Bearing Deposits                                                                  BORROWINGS:                                                       FHLB Advances and Other        171,727     141       0.16%    150,022     143       0.19% Borrowings Junior Subordinated     71,602      856       2.39%    61,857      564       1.82% Debentures Total Borrowings 243,329     997       0.82%    211,879     707       0.67%                                                                  TOTAL INTEREST BEARING          $2,279,885 $8,159   0.72%    $1,773,585 $6,306   0.71% LIABILITIES                                                                  Non-Interest    849,086                      591,428               Bearing Deposits Other           37,327                       30,184                Liabilities Shareholders'   453,495                      352,202               Equity TOTAL LIABILITIES AND  $3,619,793                  $2,747,399           EQUITY                                                                  NET INTEREST                $71,302                     $51,306   INCOME .                                                                 NET INTEREST                         4.06%                        3.76% SPREAD                                                                  NET INTEREST                         4.29%                        3.98% MARGIN ^* Allowance for loan losses excluded from average total loans and earning assets          ^** Tax equivalent ratios for investment securities                                                                                                                                     RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES:  TANGIBLE COMMON EQUITY AND TANGIBLE ASSETS * (Dollars In Thousands, Except Share Data) (Unaudited)                    Quarter Ended                                                               June 30, 2014      March 31, 2014      June 30, 2013                                                                          Total shareholders' $464,769          $451,575           $355,334       equity Goodwill and other intangible assets,  (72,206)           (72,480)            (7,572)         net Tangible common     $392,563          $379,095           $347,762       equity                                                                        Total assets        $3,681,261        $3,634,466         $2,787,401     Goodwill and other intangible assets,  (72,206)           (72,480)            (7,572)         net Tangible assets     $3,609,055        $3,561,986         $2,779,829                                                                            Common shares       78,276,758         78,247,026          70,697,944      outstanding  * Tangible Common Equity and Tangible Assets are Non-GAAP financial measures.Management believes that presentation of non-GAAP financial information included in this press release are meaningful and useful in understanding the business metrics of the Company's operations.We provide non-GAAP financial information for informational purposes and to enhance an understanding of the Company's GAAP consolidated financial statements.Readers should consider this non-GAAP information in addition to, but not instead or as superior to, the Company's financial statements in accordance with GAAP.Non-GAAP financial information presented by us may be determined or calculated differently by other companies, limiting the usefulness of non-GAAP measures for comparative purposes  CONTACT: Alex Ko, EVP & CFO, (213) 427-6560          www.wilshirebank.com  
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