Wilshire Bancorp Inc - Current report filing (8-K)
March 31 2008 - 4:40PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
____________________
FORM
8-K
Current
Report
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of report (Date of earliest event reported):
March
25, 2008
____________________
WILSHIRE
BANCORP, INC.
(Exact
name of registrant as specified in its charter)
____________________
California
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000-50923
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20-0711133
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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3200
Wilshire Boulevard, Los Angeles, California 90010
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(Address
of principal executive offices) (Zip Code)
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(213)
387-3200
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(Registrant’s
telephone number, including area code)
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____________________
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Check
the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions (see General Instruction A.2. below):
o
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Written
communications pursuant to Rule 425 under the Securities Act (17
CFR
230.425)
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o
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
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o
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR
240.14d-2(b))
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o
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR
240.13e-4(c))
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ITEM
5.02
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DEPARTURE
OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT
OF
CERTAIN OFFICERS; COMPENSATORY
ARRANGEMENTS
OF CERTAIN OFFICERS
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Wilshire
Bancorp, Inc. (“Wilshire Bancorp”), the holding company for Wilshire State Bank
(the “Bank”), on March 25, 2008 appointed Gunho “Alex” Ko as permanent Senior
Vice President and Chief Financial Officer, or “CFO”, of Wilshire Bancorp and
the Bank, effective April 7, 2008.
Mr.
Ko, a
Certified Public Accountant, has been a Financial Services Senior Manager for
the past 12 years with KPMG in Los Angeles, California. Mr. Ko holds a Masters
in Accounting degree from the University of Southern California. In his current
capacity with KPMG, Mr. Ko has worked with some of the largest financial
institutions as well as large community banks. In addition to managing many
large engagements, Mr. Ko has also served as national instructor and program
developer for training KPMG staff.
Neither
the Bank nor the Company has entered into an employment agreement with Mr.
Ko in
connection with his appointment. However, the initial annual base salary will
be
$210,000 for Mr. Ko. Additionally, he will be entitled to participate in the
Bank’s existing bonus program whereby he will be eligible to receive annual
incentive bonuses in amounts to be determined in the discretion of the Bank.
Also, subject to the final approval of the Wilshire Bancorp 2008 Stock Incentive
Plan, which is currently under consideration at Wilshire Bancorp and which
is
expected to be presented for approval by the shareholders at the upcoming annual
meeting, Mr. Ko will be awarded options to purchase 25,000 shares of the common
stock of Wilshire Bancorp.
Also
on
March 25, 2008, Wilshire Bancorp promoted Elaine S. Jeon
,
who has
been serving as Wilshire’s interim CFO since its former CFO’s departure at the
end of November 2007, to the position of Deputy CFO and Controller, effective
April 7, 2008
.
Ms.
Jeon has served as Senior Vice President and Controller of Wilshire Bancorp
since April 2004. She served as Wilshire Bancorp’s First Vice President and
Accounting Manager from October 1999 through her promotion to Controller in
April 2004 Neither the Bank nor the Company has entered into any material plans,
contracts or arrangements, or amended any existing plans, contracts or
arrangements, with Ms. Jeon as a result of the events reported herein.
The
Company’s related press release is filed as Exhibit 99.1 to this Form 8-K and is
incorporated by reference herein.
ITEM
9.01
FINANCIAL
STATEMENTS AND EXHIBITS
(c)
Exhibits
Exhibit
99.1
Press
release dated March 28, 2008.
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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WILSHIRE
BANCORP, INC.
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Date: March
31, 2008
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By:
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/s/ Joanne Kim
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Joanne
Kim, President and Chief Executive
Officer
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Exhibit
No.
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Description
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99.1
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Press
release dated March 28,
2008.
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