BBCN Bank
| Public limited company | |
| Traded as | NASDAQ: BBCN |
| Industry | Financial |
| Predecessor | Nara Bancorp Inc |
| Founded | June 5, 2000[1] |
| Headquarters | Los Angeles, CA |
Area served | U.S. |
Key people |
Kevin Kim (Chairman & CEO) |
 US$ 267.9 million(2012)[2] | |
|
US$ 83.2 million(2012)[2] | |
| Total assets |
US$ 5.9 billion (2012)[2] |
Number of employees | 831 (2013)[3] |
| Website |
www |
BBCN (Business Bank of Center and Nara) Bancorp, Inc. is a holding company for BBCN Bank. The bank is the largest Korean-American bank in the U.S.[4][5] The company focuses the business in South Korean expatriate communities, and it offers its customers commercial banking loan and deposit products through 50 full-service branches and six loan production offices.[6] The Company’s profit mainly comes from earning interest on loans and investment securities.[7]
History
On June 5, 2000, BBCN Bancorp, Inc. was incorporated, with the initial name as Nara Bancorp, Inc. in February 2002, it became the holding company for Nara Bank effective, which is a member of national banking association opened for business in June 1989.[7]
On November 30, 2011, they completed a merger of equals transaction in which they merged with Center Financial Corporation ("Center Financial" or "Center"). The merger added 21 full-service branch offices and brought about the new names, which are currently used, ” Nara Bancorp, Inc.” was changed to "BBCN Bancorp, Inc." ‘’Center Bank’’ was changed to "BBCN Bank."[8]
On February 15, 2013, the Company completed the acquisition of Pacific International Bancorp ("PIB"). Pacific International Bancorp was the holding company for Pacific International Bank, which was a Washington state-chartered bank having four bank locations in the Seattle metropolitan area.[9]
In August 2013, BBCN Bancorp, Inc. acquired Foster Bankshares, Inc. With the acquisition, BBCN became the leading Korean-American Bank in Chicago.[10]
In December 2015, BBCN Bancorp and Wilshire Bancorp announced a merger of their institutions.[11]
References
- ↑ "Time of foundation", Reuters
- 1 2 3 2012 Annual Report on form 10-K
- ↑ Number of employees in Yahoo Finance
- ↑ Company descriptation in Google Fiance
- ↑ Company descriptation in Answers
- ↑ About us in homepage
- 1 2 Source of profit in Reuters
- ↑ BBCN Completes Acquisition of Center Financial Corporation
- ↑ BBCN Completes Acquisition of Pacific International
- ↑ BBCN Bancorp Announces Acquisition of Chicago-Based Foster Bankshares
- ↑ "Two Koreatown banks to unite, but a rival hopes to block the merger". latimes.com. Retrieved 2015-12-08.