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Last $11.04 USD
Change Today -0.06 / -0.54%
Volume 403.2K
WIBC On Other Exchanges
As of 8:10 PM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

3200 Wilshire Boulevard

Los Angeles, CA 90010

United States

Phone: 213-387-3200

Fax: 213-427-6562

Wilshire Bancorp, Inc. operates as the bank holding company for Wilshire Bank that offers a range of financial products and services. The company has 38 full-service branch offices in Southern California, Texas, New Jersey, and the greater New York City metropolitan area. It also has nine loan production offices, or LPOs, utilized primarily for the origination of loans under its Small Business Administration (SBA), lending program in California, Colorado, Georgia, Texas (two offices), New Jersey, Washington, and Virginia. Segments The company operates in three primary business segments: Banking Operations, Trade Finance Services (TFS), and SBA Lending Services. BANKING OPERATIONS This segment raises funds from deposits and borrowings for loans and investments, and provides lending products, including commercial, consumer, and real estate loans to its customers. The company is engaged in a full complement of lending activities, including commercial real estate and home mortgage lending; commercial business lending and trade finance; SBA lending; consumer loans; and construction lending. Real Estate Loans and Home Mortgages: The company offers commercial real estate loans to finance the acquisition of, or to refinance the existing mortgages on commercial properties, which include retail shopping centers, office buildings, industrial buildings, warehouses, hotels, automotive industry facilities, apartment buildings, and other commercial properties. Its commercial real estate loans are collateralized by first or junior deeds of trust on specific commercial properties, and when possible, subject to corporate or individual guarantees from financially capable parties. The properties collateralizing real estate loans are principally located in the markets where its retail branches are located. Construction loans are provided to build new structures, or to substantially improve the existing structure of commercial, residential, and other income-producing properties. These loans generally have one to two year terms, with an option to extend the loan for additional periods to complete construction and to accommodate the lease-up period. Commercial Business Lending: The company offers commercial business loans to sole proprietorships, partnerships, and corporations. These loans include business lines of credit and business term loans to finance operations, to provide working capital, or for specific purposes, such as to finance the purchase of assets, equipment, or inventory. The company also provides warehouse lines of credit to mortgage loan originators. Business term loans are typically made to finance the acquisition of fixed assets, refinance short-term debts, or to finance the purchase of businesses. The company e also provides other banking services tailored to the small business market. Consumer Loans: Consumer loans include personal loans, auto loans, and other loans typically made by banks to individual borrowers. The majority of consumer loans are concentrated on personal lines of credit and installment loans to individuals. TFS This segment primarily deals in letters of credit issued to customers whose businesses involve the international sale of goods. It offers the following types of letters of credit to customers: commercial, standby, revocable, irrevocable, sight, usance, import, export, transferable, non-transferable, and documentary collections. Services offered by the Trade Finance Department include the issuance and negotiation of letters of credit, as well as the handling of documentary collections. On the export side, the company provides advice on and negotiation of commercial letters of credit, and transfers and issues back-to-back letters of credit. The company also provides importers with trade finance lines of credit, which allow for issuance of commercial letters of credit and financing of documents received under such letters of credit, as well as documents received under documentary collections. Exporters are assisted through export lines of credit, as well as through immediate financing of clean documents presented under export letters of credit. SBA LENDING SE

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Valuation WIBC Industry Range
Price/Earnings 13.5x
Price/Sales 4.5x
Price/Book 1.7x
Price/Cash Flow 13.5x
TEV/Sales 1.5x

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