Wilshire Bank Recognized as Largest SBA Lender in Los Angeles
February 03 2014 - 8:00AM
Wilshire Bank (the "Bank"), a subsidiary of Wilshire Bancorp, Inc.
(Nasdaq:WIBC) (the "Company"), today announced that it has been
recognized by the U.S. Small Business Administration as the largest
producer of SBA loans in the SBA Los Angeles District (Los Angeles,
Santa Barbara and Ventura Counties) for fiscal year 2013. Wilshire
Bank originated 130 SBA loans totaling $46.1 million in the Los
Angeles District during the SBA fiscal year ended September 30,
2013.
"This recognition is a testament to the hard work we have done
to create a highly efficient process for underwriting SBA loans and
helping small businesses quickly obtain the credit they need to
manage and grow their businesses," said Jae Whan (J.W.) Yoo,
President and CEO of Wilshire Bancorp. "We continued our strong
momentum in the December quarter with our highest level of SBA loan
production in the history of the Bank. I would like to
congratulate our SBA lending team for their outstanding work and
their success in establishing Wilshire Bank as the largest SBA
lender in the Los Angeles District."
ABOUT WILSHIRE BANCORP
Headquartered in Los Angeles, Wilshire Bancorp is the parent
company of Wilshire Bank, which operates 38 branch offices in
California, Texas, New Jersey and New York, and nine loan
production offices in Dallas and Houston, TX, Atlanta, GA, Aurora,
CO, Annandale, VA, Fort Lee, NJ, Newark, CA, New York, NY, and
Bellevue, WA, and is an SBA preferred lender nationwide. Wilshire
Bank is a community bank with a focus on commercial real estate
lending and general commercial banking, with its primary market
encompassing the multi-ethnic populations of the Los Angeles
Metropolitan area. For more information, please go to
www.wilshirebank.com.
FORWARD-LOOKING STATEMENTS
Statements concerning future performance, events, or any other
guidance on future periods constitute forward-looking statements
that are subject to a number of risks and uncertainties that might
cause actual results to differ materially from stated expectations.
Undue reliance should not be placed on forward-looking statements,
as they are subject to risks and uncertainties, including but not
limited to the risk factors set forth in our most recent Annual
Report on Form 10-K and our other filings made from time to time
with the Securities and Exchange Commission. Specific factors
that could cause future results to differ materially from
historical performance and these forward-looking statements
include, but are not limited to: (1) loan production and sales, (2)
credit quality, (3) the ability to expand net interest margin, (4)
the ability to continue to attract low-cost deposits, (5) success
of expansion efforts, (6) competition in the marketplace, (7)
political developments, war or other hostilities, (8) changes in
the interest rate environment, (9) the ability of our borrowers to
repay their loans, (10) the ability to maintain capital
requirements and adequate sources of liquidity, (11) effects of or
changes in accounting policies, (12) legislative or regulatory
changes or actions, (13) the ability to attract and retain key
personnel, (14) the ability to receive dividends from our
subsidiaries, (15) the ability to secure confidential information
through the use of computer systems and telecommunications
networks, (16) weakening in the economy, specifically the real
estate market, either nationally or in the states in which we do
business, and (17) general economic conditions. The information in
this press release speaks only as of the date of this release and
Wilshire Bancorp specifically disclaims any duty to update the
information in this press release. Additional information on these
and other factors that could affect financial results are included
in filings by Wilshire Bancorp with the Securities and Exchange
Commission.
CONTACT: Alex Ko, EVP & CFO, (213) 427-6560
www.wilshirebank.com
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