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BBCN Bancorp Reports Fourth Quarter 2012 Net Income Of $21.5 Million, Or $0.28 Per Share; Declares Quarterly Cash Dividend Of $0.05 Per Share

The weighted average cost of deposits and the impact of acquisition accounting adjustments are summarized in the following table:

        Three Months Ended    
12/31/2012   12/31/2011   change   9/30/2012   change
The weighted average cost of deposits, excluding effect of acquisition accounting adjustments 0.55 % 0.75 % (0.20 ) % 0.59 % (0.04 ) %
Acquisition accounting adjustments (0.03 )   (0.04 )   (0.01 )   (0.07 )   0.04    
Reported weighted average cost of deposits 0.52   % 0.71   % (0.19 )   % 0.52   %   %

The weighted average cost of deposits for fourth quarter 2012 improved 19 basis points to 0.52% from fourth quarter 2011, and improved 20 basis points on a core basis, excluding the amortization of premium on time deposits assumed in the merger. Fourth quarter 2012 weighted average cost of deposits benefited from reductions in the cost of most categories of interest-bearing deposits.

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