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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

Operating results were also impacted by merger and integration related expenses, which amounted to $505,000, $183,000 and $3.2 million, for fourth quarter 2012, third quarter 2012 and fourth quarter 2011, respectively. The Company noted that fourth quarter 2012 merger and integration related expenses primarily reflected expenses associated with the pending Pacific International Bancorp, Inc. acquisition.

Net Interest Income and Net Interest Margin. The following table summarizes the reported net interest income before provision for loan losses.

          Three Months Ended  
(In thousands) 12/31/2012   12/31/2011   % change   9/30/2012   % change
Net interest income before provision for loan losses $ 59,646 $ 40,551   47 % $ 58,231   2 %
 

Fourth quarter 2012 net interest income before provision for loan losses rose 47% over fourth quarter 2011 and 2% over preceding third quarter 2012, principally reflecting the higher level of interest earning assets as a result of the net growth in loans receivable.

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