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
Colorado based doctor Dilip Joseph, who was kidnapped by the Taliban discusses his ordeal in detail in a book published by Amazon on Tuesday. Extending the rebound seen over the course of the previous session, stocks moved sharply higher during trading on Friday. The gains on the day partly offset the recent sell-off on Wall Street, although the major averages remain well off their mid-September highs. While the Ebola outbreak in the U.S. has thus far been limited to just three people, the results of a new CBS News poll suggest that news of the disease has contributed to a sharp drop in public confidence in the Centers for Disease Control and Prevention.
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.