Breaking News
FONT-SIZE Plus   Neg
Share SHARE

Wilshire Bancorp To Buy BankAsiana

RELATED NEWS
Trade WIBC now with 

Wilshire Bancorp Inc. (WIBC: Quote), the parent company of Wilshire State Bank, announced an agreement to acquire BankAsiana, a New Jersey state chartered commercial bank. The transaction is valued at approximately $32.5 million, which will be paid to BankAsiana shareholders and option holders in cash, Wilshire Bancorp said.

BankAsiana has three branches serving the Korean-American community in the New York/New Jersey market. As of March 31, 2013, BankAsiana had total assets of $207.3 million, total net loans of $161.2 million and total deposits of $164.6 million.

Jae Whan Yoo, President and CEO of Wilshire Bancorp and Wilshire State Bank, said: "This transaction will double the size of Wilshire's New York/New Jersey franchise, further diversifying the loan portfolio and providing greater exposure to fast growing market segments in New York and New Jersey."

Click here to receive FREE breaking news email alerts for Wilshire Bancorp Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Stocks are turning in a lackluster performance in early trading on Wednesday after moving sharply higher over the past few sessions. The major averages moved lower at the start of trading but have been lingering near the unchanged line since then. At least 11 people were killed in overnight Israeli air strikes on Gaza. The wife and child of Mohammed Deif, who is on top of Israel's most wanted list, were reportedly killed in the attack. Deif, who lost an eye and limbs in earlier assassination attempts, is the head of Hamas' armed wing - the Qassam Brigades. Hamas leader Mousa Abu Marzouk told media on Wednesday that Israel had targeted Deif Bank of England policymakers split on rate decision this month, for the first time in more than three years as two members said the current economic situation warrant an immediate rate hike from a historic-low. At the August Monetary Policy Committee meeting, Ian McCafferty and Martin Weale sought a quarter-point hike in the bank rate to 0.75 percent.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.