September 01, 2016 1:46 AM ET

Banks

Company Overview of Wilshire Bank

Company Overview

Wilshire Bank provides personal and commercial banking services. Its deposit products include checking, savings, and money market accounts; and certificates of deposit. The company’s portfolio of loans comprises home mortgages, such as fixed rate program, adjustable rate program, home equity line of credit, and mortgage programs; and commercial loans, small business administration loans, construction lending, and trade finance. Wilshire Bank also offers Visa credit cards, safe deposit boxes, and wire transfers; and mobile banking, Internet banking, and file transfer services. In addition, the company provides treasury management services, including collection, payment, and information report...

3200 Wilshire Boulevard

Suite 1400

Los Angeles, CA 90010

United States

Founded in 1980

Phone:

213-387-3200

Fax:

213-427-6562

Key Executives for Wilshire Bank

Chief Financial Officer, Executive Vice President, Chief Financial Officer of Wilshire Bancorp Inc and Executive Vice President of Wilshire Bancorp Inc
Age: 50
Chief Executive Officer of Wilshire Bancorp Inc. and President of Wilshire Bancorp Inc.
Age: 67
Senior Vice President and SBA Division Manager
Compensation as of Fiscal Year 2016.

Wilshire Bank Key Developments

Korean Nationals Sues Wilshire Bank over Fraud

A dozen Korean nationals sued Wilshire Bank for fraud, negligence and breach of contract. The bank had been on the periphery of legal actions brought against Lee and his associates, mentioned in cases filed by the Department of Justice and the California Bar Assn. But the investors now allege that the bank was complicit in the scam, which involved the EB-5 visa program that gives foreign investors permanent U.S. residency in exchange for investing in projects that create domestic jobs. The suit, filed in Los Angeles Superior Court, highlights the problems that have tarnished the federal visa program and reflects a growing tendency by investors to hold banks accountable for fraudulent activities, even if they are acting only as intermediaries. The investors allege that Wilshire Bank had a lengthy business relationship with Lee and employed one of his relatives -- facts they say should have been disclosed to investors. What's more, they allege that because of those relationships the bank permitted Lee to improperly transfer money out of investors' escrow accounts.

Elaine Jeon, Executive Vice President and Chief Operations Administrator of Wilshire Bank and Wilshire Bancorp, Inc. Notifies Her Resignation Effective February 22, 2016

On February 8, 2016, Elaine Jeon, Executive Vice President and Chief Operations Administrator of Wilshire Bank (the Bank) and Wilshire Bancorp Inc. (the company), notified the Bank and the company of her resignation effective February 22, 2016. Ms. Jeon's departure is not due to any disagreements with the Bank or the company.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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