Wilshire Bancorp Announces Appointment of Two New Directors
October 05 2011 - 1:00PM
Wilshire Bancorp, Inc. (Nasdaq:WIBC), the holding company for
Wilshire State Bank, announced today that its board of directors
has appointed John R. Taylor and Craig Mautner to serve as
directors of both Wilshire Bancorp and Wilshire State Bank, subject
to regulatory approval. Upon the receipt of regulatory
approval, Mr. Taylor will immediately begin serving as a Class II
director. Mr. Mautner will begin serving as a Class II
director in February 2012. As Class II directors, Mr. Taylor
and Mr. Mautner will be eligible for re-election by the Company's
shareholders at the 2012 annual shareholders meeting if they are
nominated again by the Company's board of directors.
John R. Taylor was a senior audit partner in KPMG LLP's
Financial Services practice based in Los Angeles prior to his
retirement on September 30, 2011. Mr. Taylor has over 38 years
of public accounting experience and served numerous publicly-held
banks, depository institutions, and financial services clients
during his 27 years as a KPMG partner. Mr. Taylor will serve
on the Audit Committee of Wilshire Bancorp's board of
directors.
Craig Mautner is an expert in information technology and
currently serves as a Member Technical Staff at Google. Mr.
Mautner has more than 25 years of experience in the development of
software, hardware, and system architecture, primarily with a
consumer focus. Throughout his career, Mr. Mautner has served
as a consultant to or as a senior engineer for a multitude of
successful technology companies.
"On behalf of the board of directors, I would like to welcome
Mr. Taylor and Mr. Mautner to Wilshire Bancorp," said Mr. Steven
Koh, chairman of the board of directors of Wilshire
Bancorp. "Our two new directors bring valuable skills and
experience in the areas of accounting and information
technology. The collective expertise that they provide will be
valuable to our efforts to strengthen the oversight of the Company
by the board of directors and optimize our use of technology to
enhance customer service and the overall efficiency of the
organization."
Following regulatory approval of the two new appointments,
Wilshire Bancorp will have 10 directors, 9 of whom will be
considered to be independent.
COMPANY INFORMATION
Headquartered in Los Angeles, Wilshire State Bank operates 24
branch offices in California, Texas, New Jersey and New York, and
six loan production offices in Dallas, Houston, Atlanta, Denver,
Annandale, Virginia, and Fort Lee, New Jersey, and is an SBA
preferred lender nationwide. Wilshire State 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
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.
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 expansion efforts, competition in the marketplace and
general economic conditions. Any 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 are 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.
CONTACT: Alex Ko, EVP & CFO
(213) 427-6560
www.wilshirebank.com
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