LOS ANGELES, April 25, 2013 (GLOBE NEWSWIRE) -- BBCN Bancorp, Inc. (the "Company") (Nasdaq:BBCN) today announced that its Board of Directors unanimously appointed Soo Bong Min, 76, as President and Chief Executive Officer and a Director of its wholly owned subsidiary, BBCN Bank (the "Bank"). The Company also announced the promotions of Chief Operating Officer Bonita I. Lee, 50, and Chief Commercial Banking Officer Kyu S. Kim, 51, to Senior Executive Vice President. All three appointments will be effective May 1, 2013.
"Mr. Min is very well recognized in the Korean-American community as a proven banking executive, who was instrumental to the growth and prosperity of both Wilshire Bank and Hanmi Bank," said Kevin S. Kim, Chairman and Chief Executive Officer of BBCN Bancorp, Inc. "After an intensive process in which both internal and external candidates were evaluated, the Board determined that with his 50-plus years of banking experience, Mr. Min would be the best person to lead BBCN forward at this stage of integration and growth.
"In addition, we expect Mr. Min's strong leadership skills will serve to be a tremendous mentoring guide for the future leaders of BBCN. The promotions of Ms. Lee and Ms. Kim to Senior Executive Vice President exemplify the Board's recognition and appreciation for their leadership to date. The entire Board is confident in the abilities of all three of these executives, and look forward to working closely with them together to create greater value for all of BBCN's stakeholders," said Mr. Kim.Mr. Min said, "It is a privilege to have the opportunity to lead the premier Korean-American bank in the nation. BBCN continues to set milestones in the history of Korean-American banking with the transformative merger of equals, followed by strategic acquisitions that strengthen the Bank's leadership in targeted markets. The organization has a talented team in place, and I am excited to leverage those talents with my banking experience to further strengthen and build upon the BBCN franchise."