Following the adjournment of the annual meeting of stockholders of BBCN Bancorp, Inc. (NASDAQ: BBCN) (“Company”), the Company appointed Kevin S. Kim, age 55, as Chairman and Scott Yoon-suk Whang, age 66, as Vice Chairman of the boards of the bank holding company and its wholly owned subsidiary, BBCN Bank (“Bank”), effective immediately.
In appreciation of their leadership over the years and since the formation of BBCN, former Chairman Ki Suh Park, age 80, and former Vice Chairman Chang Hwi Kim, age 69, who will remain Directors of the Company and Bank, were given the titles of Honorary Chairman and Honorary Vice Chairman of the Company, respectively.
These appointments did not change the number of Directors sitting on the Board, which remains at 13.
Honorary Chairman Ki Suh Park commented, “BBCN has made greater than anticipated progress in the first six months since formation implementing its strategic initiatives and bringing forth the synergies of the merger. In light of this progress, the new appointments of Chairman and Vice Chairman are being made sooner than originally planned. Kevin and Scott played critical roles on numerous fronts in the creation of BBCN, and we look forward to their continued leadership as we all work together with the management toward our vision of becoming the nation’s premier Asian American bank.”About BBCN Bancorp, Inc. BBCN Bancorp, Inc. is the parent company of BBCN Bank, the largest Korean American bank in the nation with $5.2 billion in assets as of March 31, 2012. The Company is a result of the merger of equals of Nara Bancorp, Inc. and Center Financial Corporation completed on November 30, 2011. Headquartered in Los Angeles and serving a diverse mix of customers mirroring its communities, BBCN operates 41 branches in California, New York, New Jersey, Washington and Illinois, along with three loan production offices in Seattle, Denver and Dallas. BBCN specializes in core business banking products for small and medium-sized businesses, 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.
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