Breaking News
FONT-SIZE Plus   Neg
Share SHARE
mail  E-MAIL

Wilshire Bancorp To Buy BankAsiana

RELATED NEWS
Trade WIBC now with 
6/10/2013 1:22 AM ET

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
After reporting a bigger than expected increase in new orders for U.S. manufactured durable goods in the previous month, the Commerce Department released a report on Thursday that once again showed stronger than expected durable goods orders growth in the month of March. The report said durable goods orders surged up by 2.6 percent in March after jumping by a revised 2.1 percent in February. First-time claims for U.S. unemployment benefits rose by more than expected in the week ended April 19th, according to a report released by the Labor Department on Thursday, with initial jobless claims climbing further off their recent lows. The report said initial jobless claims rose to 329,000, an increase of 24,000 from the previous week's revised figure of 305,000. After giving back some ground in the previous session, stocks are likely to move back to the upside in early trading on Thursday. The major index futures are currently pointing to a higher open for the markets, with the Dow futures up by 40 points.
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.