Wilshire Bancorp Declares Cash Dividend
June 01 2006 - 6:30AM
Business Wire
Wilshire Bancorp, Inc. (Nasdaq:WIBC), the holding company for
Wilshire State Bank, announced today that its Board of Directors
has declared a cash dividend of $0.05 per common share. The
dividend will be payable on or about July 14, 2006, to shareholders
of record at the close of business on June 30, 2006. Wilshire
Bancorp and its Wilshire State Bank subsidiary have received
significant accolades for growth, performance and profitability. In
late April, Wilshire Bancorp was added to the Standard & Poor's
SmallCap 600 index. In January, US Banker magazine named Wilshire
Bancorp third in its All-Star Lineup - The Top 20 Banks of 2006,
based on year-over-year return on equity. In September 2005,
Fortune named Wilshire the 79th fastest-growing public company in
the nation. A month earlier, US Banker ranked Wilshire 7th on its
list of the Top 100 Publicly Traded Mid-Tier Banks, those with less
than $10 billion in assets, based on their three-year ROE. In
addition, Sandler O'Neill identified Wilshire as one of its Bank
and Thrift Sm-All Stars in 2004 and 2005, among just 38 companies
out of 573 with market capitalizations below $2 billion.
Headquartered in Los Angeles, Wilshire State Bank operates 18
branch offices in California, Texas and New York and eight Loan
Production Offices in San Jose, Seattle, Oklahoma City, San
Antonio, Las Vegas, Houston, Atlanta and Denver, and is an SBA
preferred lender at all of its office locations. The 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.
Wilshire Bancorp's strategic goals include increasing shareholder
and franchise value by continuing to grow its multi-ethnic banking
business and expanding its geographic reach to other similar
markets with strong levels of small business activity.
www.wilshirebank.com 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. Specific factors include, but
are not limited to, loan production and sales, credit quality, the
ability to expand net interest margin, the ability to continue to
attract low-cost deposits, success of consolidation of operations
and expansion efforts, competition in the marketplace and general
economic conditions. The financial information contained in this
release should be read in conjunction with the consolidated
financial statements and notes included in Wilshire Bancorp's most
recent reports on Form 10-K and Form 10-Q, as filed with the
Securities and Exchange Commission, as they may be amended from
time to time. Results of operations for the most recent quarter are
not necessarily indicative of operating results for any future
periods. Any projections in this release are based on limited
information currently available to management and is subject to
change. Since management will only provide guidance at certain
points during the year, Wilshire Bancorp will not necessarily
update the information. Such information speaks only as of the date
of this 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.
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