<SEC-DOCUMENT>0001157523-12-000513.txt : 20120203
<SEC-HEADER>0001157523-12-000513.hdr.sgml : 20120203
<ACCEPTANCE-DATETIME>20120203172911
ACCESSION NUMBER:		0001157523-12-000513
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20120131
ITEM INFORMATION:		Results of Operations and Financial Condition
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20120203
DATE AS OF CHANGE:		20120203

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			BBCN BANCORP INC
		CENTRAL INDEX KEY:			0001128361
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				954170121
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-50245
		FILM NUMBER:		12571274

	BUSINESS ADDRESS:	
		STREET 1:		3731 WILSHIRE BLVD
		STREET 2:		SUITE 1000
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90010
		BUSINESS PHONE:		2136391700

	MAIL ADDRESS:	
		STREET 1:		3731 WILSHIRE BLVD
		STREET 2:		SUITE 1000
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90010

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	NARA BANCORP INC
		DATE OF NAME CHANGE:	20001115
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>a50157232.htm
<DESCRIPTION>BBCN BANCORP, INC. 8-K
<TEXT>
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    <title></title>
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  <body style="font-family: Times New Roman; font-size: 10pt">
    <p style="text-align: center">
      <font style="font-size: 18pt; font-family: Times New Roman"><b>UNITED
      STATES</b></font><b><font style="font-size: 18pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 18pt"></font><font style="font-size: 18pt; font-family: Times New Roman">SECURITIES
      AND EXCHANGE COMMISSION</font></b><br><font style="font-size: 10pt; font-family: Times New Roman"><b>Washington,
      D.C. 20549</b></font><br><br>
    </p>
    <p style="text-align: center">
      <font style="font-size: 18pt; font-family: Times New Roman"><b>FORM 8-K</b></font>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>CURRENT
      REPORT</b></font><b><font style="font-size: 12pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 12pt"></font><font style="font-size: 12pt; font-family: Times New Roman">Pursuant
      to Section 13 or 15(d) of The Securities Exchange Act of 1934</font></b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 10pt; font-family: Times New Roman">Date of
      Report&#160;(Date of earliest event reported): January 31, 2012</font><font style="font-size: 10pt; font-family: Times New Roman"><br style="font-family: Times New Roman; font-size: 10pt"></font><br><font style="font-size: 20pt"><b>BBCN
      Bancorp, Inc.</b></font><br><font style="font-size: 10pt; font-family: Times New Roman">(Exact
      name of registrant as specified in its charter)</font><br><br>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 33%; border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Delaware
          </p>
        </td>
        <td style="width: 34%; border-bottom: solid black 1.0pt; padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            000-50245
          </p>
        </td>
        <td style="width: 33%; border-bottom: solid black 1.0pt; padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            95-4170121
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (State or other jurisdiction
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            of incorporation)
          </p>
        </td>
        <td style="width: 34%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (Commission File Number)
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 33%; text-align: center; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            (IRS Employer Identification No.)
          </p>
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
    </table>
    </div>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 50%; text-align: center; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            3731 Wilshire Boulevard, Suite 1000, Los Angeles, CA
          </p>
        </td>
        <td style="width: 50%; padding-right: 0.0px; text-align: center; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            90010
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 50%; text-align: center; padding-left: 0.0px" valign="bottom">
          <font style="font-family: Times New Roman; font-size: 10pt">(Address
          of Principal Executive Offices)</font>
        </td>
        <td style="width: 50%; text-align: center; padding-left: 0.0px" valign="bottom">
          <font style="font-family: Times New Roman; font-size: 10pt">(Zip
          Code)</font>
        </td>
      </tr>
    </table>
    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><br style="font-size: 10pt; font-family: Times New Roman">
      </font><font style="font-family: Times New Roman; font-size: 10pt">Registrant&#8217;s
      telephone number, including area code </font>(213) 639-1700.
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="text-align: center; padding-left: 0.0px" valign="top">
          (Former name or former address, if changed since last report.)
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>

    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Check the
      appropriate box below if the Form 8-K filing is intended to
      simultaneously satisfy the filing obligation of the registrant under any
      of the following provisions</font>(see General Instruction A.2. below)<font style="font-family: Times New Roman; font-size: 10pt">:</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font>
    </p>
    <p>
      <font style="font-family: Arial Unicode MS; font-size: 10pt">&#8414;</font>
      <font style="font-family: Times New Roman; font-size: 10pt">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font>
    </p>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Item 2.02 Results of Operations and Financial Condition.</b>
    </p>
    <p>

    </p>
    <p>
      On January 31, 2012, BBCN Bancorp, Inc. (&#8220;BBCN&#8221;) issued a press release
      announcing preliminary results of operations and financial condition for
      the fourth quarter ended December 31, 2011.&#160;&#160;A copy of the press release
      is attached hereto as Exhibit 99.1. The information in this report
      (including Exhibit 99.1) is being furnished pursuant to Item 2.02 and
      shall not be deemed to be &#8220;filed&#8221; for purposes of Section 18 of the
      Securities Exchange Act of 1934, as amended (the &#8220;Exchange Act&#8221;), or
      otherwise subject to the liabilities of that section, nor shall it be
      deemed to be incorporated by reference in any filing under the
      Securities Act of 1933 or the Exchange Act.
    </p>
    <p>

    </p>
    <p>
      <b>Item 9.01 Financial Statements and Exhibits</b>
    </p>
    <p>
      <b>(c) Exhibits</b>
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 11%; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="top">
          Exhibit No.
        </td>
        <td style="width: 1%">
          &#160;
        </td>
        <td style="width: 88%; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Description of Exhibit
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 11%">

        </td>
        <td style="width: 1%">

        </td>
        <td style="width: 88%">
          &#160;
        </td>
      </tr>
      <tr>
        <td style="width: 11%; padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="top">
          99.1
        </td>
        <td style="width: 1%">

        </td>
        <td style="width: 88%; text-align: left; padding-left: 0.0px" valign="top">
          Press release dated January 31, 2012 concerning preliminary results
          of operations and financial condition for the fourth quarter ended
          December 31, 2011.
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 10pt"><b>SIGNATURES</b></font>
    </p>
    <p>
      <font style="font-family: Times New Roman; font-size: 10pt">Pursuant to
      the requirements of the Securities Exchange Act of 1934, the registrant
      has duly caused this report to be signed on its behalf by the
      undersigned hereunto duly authorized.</font>
    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 6%">

        </td>
        <td colspan="2">
          &#160;
        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            <b>BBCN Bancorp, Inc.</b>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td colspan="2">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            &#160;
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%; text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="width: 45%">

        </td>
        <td style="width: 1%">

        </td>
        <td style="width: 4%">
          &#160;
        </td>
        <td style="width: 44%">

        </td>
      </tr>
      <tr>
        <td style="width: 6%; padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="top">
          Date:
        </td>
        <td style="width: 45%; padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="top">
          February 3, 2012
        </td>
        <td style="width: 1%">

        </td>
        <td style="border-bottom: solid black 1.0pt; text-align: center; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            /s/ Alvin D. Kang
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td colspan="2">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Alvin D. Kang
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 6%">

        </td>
        <td colspan="2">

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="top" colspan="2">
          <p style="margin-bottom: 0px; margin-top: 0px">
            President and Chief Executive Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p style="text-align: center">
      <b>EXHIBIT INDEX</b>
    </p>
    <p>

    </p>
<div style="text-align:left">
    <table style="font-size: 10pt; font-family: Times New Roman; width: 100%; margin-bottom: 10.0px" cellspacing="0">
      <tr>
        <td style="width: 11%; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Exhibit No.</b>
        </td>
        <td style="width: 1%; padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          &#160;
        </td>
        <td style="width: 88%; border-bottom: solid black 1.0pt; text-align: left; padding-left: 0.0px" valign="bottom">
          <b>Description</b>
        </td>
      </tr>
      <tr>
        <td style="width: 11%; padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            99.1
          </p>
        </td>
        <td style="width: 1%; text-align: left; padding-left: 0.0px" valign="top">

        </td>
        <td style="width: 88%; text-align: left; padding-left: 0.0px" valign="top">
          <p style="margin-bottom: 0px; margin-top: 0px">
            Press release dated January 31, 2012 concerning preliminary
            results of operations and financial condition for the fourth
            quarter ended December 31, 2011.
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>

    </p>
    <p>

    </p>
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50157232ex99_1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
<html>
  <head>
    <title></title>
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<!--All rights reserved www.businesswire.com-->
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  <body style="font-family: Times New Roman; font-size: 8pt">
    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt; font-family: Times New Roman"><b>BBCN
      Bancorp Announces Preliminary Fourth Quarter 2011 Estimated Earnings</b></font>
    </p>
    <p style="text-align: center">
      <i><font style="font-size: 12pt; font-family: Times New Roman"><b>--
      Full Financial Results to be Released on Tuesday, February 7, 2012 --</b></font></i>
    </p>
    <p>
      LOS ANGELES--(BUSINESS WIRE)--January 31, 2012--BBCN Bancorp, Inc.
      (Nasdaq: BBCN) today announced preliminary financial results for the
      fourth quarter of 2011.
    </p>
    <p>
      The merger of Center Financial Corporation (&#8220;Center&#8221;) with and into Nara
      Bancorp, Inc. (&quot;Nara&quot;) was completed on November 30, 2011, and marked
      the beginning of operations under the new name of BBCN Bancorp, Inc.
      (&#8220;BBCN&#8221; or &quot;the Company&#8221;). As a result of the significant time required
      to complete the acquisition accounting adjustments related to the
      merger, the Company is still working through the fair value adjustments
      and, as such, announced that complete financial results for the fourth
      quarter of 2011 would be reported after the markets close on Tuesday,
      February 7, 2012, and its quarterly conference call would be held on
      Wednesday, February 8, 2012 at 9:30 a.m. Pacific Time / 12:30 p.m.
      Eastern Time.
    </p>
    <p>
      The 2011 fourth quarter financial results reflect two months of
      stand-alone operations of the former Nara and one month of combined
      operations following the completion of the merger.
    </p>
    <p>
      For the 2011 fourth quarter, BBCN estimates that net income available to
      common stockholders will range between $2.3 million and $3.0 million, or
      $0.04 to $0.06 per diluted common share. For the full year, BBCN
      estimates that net income available to common stockholders will range
      between $21.9 million and $22.6 million, or $0.52 to $0.54 per diluted
      common share.
    </p>
    <p>
      Fourth quarter 2011 financial results include the impact of the
      following significant items, aggregating $11.5 million:
    </p>
    <ul>
      <li style="margin-bottom: 10.0px">
        A $6.4 million charge recorded on the prepayment of FHLB advances as
        part of a planned post-merger balance sheet restructuring;
      </li>
      <li style="margin-bottom: 10.0px">
        $3.2 million in merger-related expenses; and
      </li>
      <li style="margin-bottom: 10.0px">
        $1.9 million in post-merger provisions for credit losses on the former
        Center portfolio (see Credit Quality section below for further
        discussion)
      </li>
    </ul>
    <p>
      &#8220;We exited 2011 with positive trends in most areas of our operations and
      forward momentum for 2012,&#8221; said Alvin D. Kang, President and Chief
      Executive Officer of BBCN. &#8220;The impact of acquisition accounting
      adjustments, balance sheet restructuring, allowance for loan loss
      adjustments and other merger-related costs distorts our reported results
      for the fourth quarter of 2011. However, our core operations performed
      well, and we had a solid quarter of loan production. We look forward to
      providing further details when we report our full financial results next
      week.&#8221;
    </p>
    <p>
      The estimated financial results for the 2011 fourth quarter reflect the
      preliminary financial information included in BBCN Bank's FR Y-9 Call
      Report (Call Report) that was filed on January 30, 2012. The Company's
      complete financial results for the 2011 fourth quarter to be reported on
      February 7, 2012 will reflect a further refinement of the estimated fair
      value calculations and accounting adjustments required under the
      acquisition method of accounting. An amended Call Report will be filed
      at a later date. The Company cautions that the complete financial
      results to be included in the Annual Report on Form 10-K for the year
      ended December 31, 2011 could differ materially from the preliminary
      financial results being reported today.
    </p>
    <div style="width: 100%; margin-bottom: 10pt; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Acquisition Accounting Adjustments</b>
    </p>
    <p>
      Based on the acquisition of Center, BBCN is required to record the
      Center balance sheet at fair value as of the November 30, 2011
      acquisition date. Accordingly, Center's allowance for loan losses of
      $39.9 million at the acquisition date was eliminated, and the loan
      portfolio was recorded at fair value which resulted in a total discount
      of approximately $95.8 million, or approximately 6%. This resulted in a
      net adjustment to loans of $55.9 million. A portion of the fair value
      discount on the loan portfolio will be accreted into interest income
      over time. The remaining portion of the discount is non-accretable. A
      summary of the major fair value adjustments are provided in the table
      below:
    </p>
<div style="text-align:left">
    <table style="font-size: 8pt; font-family: Times New Roman; margin-bottom: 10.0px; width: 100%" cellspacing="0">
      <tr>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td>
          &#160;
        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          <i>(in thousands)</i>
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td colspan="3">

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Loans, net
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (55,942
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          FDIC loss share receivable
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="2">
          (6,651
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Core deposit intangible
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="2">
          3,692
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Other assets
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="2">
          (1,098
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Certificates of deposits
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="2">
          (6,444
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Borrowings
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="2">
          1,053
        </td>
        <td>

        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="text-align: left; padding-left: 0.0px" valign="bottom">
          Other liabilities
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="2">
          (275
        </td>
        <td style="padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 2.0px; text-align: left; padding-left: 0.0px" valign="bottom">
          Deferred tax effect of adjustments (42.18)%
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: solid black 1.0pt; padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom" colspan="2">
          28,266
        </td>
        <td style="border-bottom: solid black 1.0pt">
          &#160;
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="padding-bottom: 4.0px; text-align: left; padding-left: 25.0px" valign="bottom">
          Total fair value adjustments
        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td style="border-bottom: double black 2.25pt; padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          $
        </td>
        <td style="border-bottom: double black 2.25pt; padding-right: 0.0px; text-align: right; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          (37,399
        </td>
        <td style="border-bottom: double black 2.25pt; padding-right: 0.0px; text-align: left; white-space: nowrap; padding-left: 0.0px" valign="bottom">
          )
        </td>
      </tr>
      <tr>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>

        </td>
        <td>
          &#160;
        </td>
      </tr>
    </table>
    </div>
    <p>
      The goodwill generated by the merger is estimated to range between $90
      million to $93 million.
    </p>
    <p>
      <b>Balance Sheet Restructuring</b>
    </p>
    <p>
      Late in the 2011 fourth quarter, after an analysis of the combined
      bank's cash and securities positions, the Company effected restructuring
      transactions designed to reposition certain assets and liabilities.
      These transactions included the retirement of $71.0 million in FHLB
      advances, of which a majority of these were Nara's, which resulted in a
      prepayment charge of $6.4 million. The Company also sold available for
      sale investment securities, held by Nara prior to the merger, with an
      aggregate book value of $138.2 million at a gain of $1.2 million, or
      0.9%, and purchased replacement investment securities with an aggregate
      book value of $108.9 million. The replacement securities will have the
      effect of modestly extending the average duration of the total
      investment portfolio and slightly increasing the overall estimated
      average yield.
    </p>
    <p>
      <b>Operating Results for the 2011 Fourth Quarter</b>
    </p>
    <p>
      Fourth quarter 2011 net interest income before provision for loan losses
      was $40.3 million which includes an estimate of $2.1 million of loan
      interest income, resulting from the December accretion of the
      acquisition accounting discount on loans.
    </p>
    <p>
      Total non-interest income for the 2011 fourth quarter was $0.3 million,
      and was significantly reduced by the $6.4 million prepayment charge for
      early retirement of FHLB advances as part of the balance sheet
      restructuring strategy. The Company recognized a gain on sale of SBA
      loans of $1.0 million in the 2011 fourth quarter. Approximately $84
      million of Center's SBA loans, which were marked to fair value at
      November 30, 2011, were transferred to loans held for investment.
    </p>
    <p>
      Total non-interest expense for the 2011 fourth quarter was $25.5
      million. Merger-related expenses in the 2011 fourth quarter totaled $3.2
      million.
    </p>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Loan Production and Deposits</b>
    </p>
    <p>
      Total loan originations for the 2011 fourth quarter were $157.2 million.
      On a pro forma basis, as if the two companies had operated as one for
      the full quarter, total loan originations would have amounted to $198.8
      million.
    </p>
    <p>
      Total deposits increased to $3.9 billion at December 31, 2011 from $2.3
      billion at September 30, 2011. The increase reflects the addition of
      Center's deposit balances, previously reported as $1.8 billion at
      September 30, 2011, partially offset by a strategic reduction of time
      deposits.
    </p>
    <p>
      <b>Credit Quality</b>
    </p>
    <p>
      The Company recorded a provision for loan losses of $9.1 million in the
      2011 fourth quarter. The provision for loan losses includes $1.9 million
      in provision expense attributable to required valuation allowances on
      $74.4 million in loans from the legacy Center portfolio. These loans
      were recorded at fair value at November 30, 2011 (with no valuation
      allowance held against them), matured during the month of December and
      were refinanced, thereby requiring general valuation allowances for
      those loans under generally accepted accounting principles.
    </p>
    <p>
      The legacy Center loan portfolio, including non-performing loans, was
      recorded at fair value as of November 30, 2011, and the entire legacy
      Center portfolio was considered on accrual status within the BBCN
      portfolio. Accordingly, this impacts the comparability of asset quality
      trends on a quarter-to-quarter basis. The Company believes the most
      appropriate comparison for asset quality trends is &#8220;Nara only&#8221; metrics
      as of September 30, 2011, compared with BBCN's metrics as of December
      31, 2011.
    </p>
    <p>
      Non-performing loans (loans past due 90 days or more and non-accrual
      loans) at December 31, 2011 were $31.2 million, compared with $27.8
      million at September 30, 2011. The increase in non-performing loans is
      primarily attributable to the inflow of one $7.9 million commercial real
      estate loan.
    </p>
    <p>
      Non-performing assets, including accruing restructured loans and other
      real estate owned, were $54.0 million at December 31, 2011, compared
      with $56.2 million at September 30, 2011.
    </p>
    <p>
      Net loan charge-offs during the 2011 fourth quarter totaled $7.2 million
      and the allowance for loan losses at December 31, 2011 was $61.9 million.
    </p>
    <p>
      <b>Investor Conference Call</b>
    </p>
    <p>
      The Company will host an investor conference call on Wednesday, February
      8, 2012 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review
      complete financial results for the fourth quarter of 2011, including
      final purchase accounting adjustments, which will be announced after the
      market closes on Tuesday, February 7, 2012. Investors and analysts may
      access the conference call by dialing 800-299-9086 (domestic) or
      617-786-2903 (international), passcode 61729487. Other interested
      parties are invited to listen to a live webcast of the call available at
      the Investor Relations section of BBCN Bancorp's website at <u>www.BBCNbank.com</u>.
    </p>
    <p>
      After the live webcast, a replay will be archived in the Investor
      Relations section of BBCN Bancorp's website for one year. A telephonic
      replay of the call will be available at 888-286-8010 (domestic) or
      617-801-6888 (international) through February 15, 2012, passcode
      14972745.
    </p>
    <p>
      <b>About BBCN Bancorp, Inc.</b>
    </p>
    <p>
      BBCN Bancorp, Inc. is the parent company of BBCN Bank, the largest
      Korean American bank in the nation with more than $5 billion in assets
      as of September 30, 2011. The company is a result of the merger of
      equals of Nara Bancorp, Inc. and Center Financial Corporation completed
      November 30, 2011. Headquartered in Los Angeles and serving a diverse
      mix of customers mirroring its communities, BBCN operates 44
      full-service branches in California, New York, New Jersey, Washington
      and Illinois, along with three loan production offices in Seattle,
      Denver and Dallas. BBCN specializes in core business banking products
      for small- and medium-sized companies, with an emphasis in commercial
      real estate and business lending, SBA lending and international trade
      financing. BBCN Bank is a California-chartered bank and its deposits are
      insured by the FDIC to the extent provided by law. BBCN is an Equal
      Opportunity Lender.
    </p>
    <div style="margin-bottom: 10pt; width: 100%; text-indent: 0pt; margin-left: 0pt; margin-right: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="text-align: center">

        </div>
        <div style="text-align: center">
          <hr style="height: 1.5pt; color: black">

        </div>
      </div>
      <div>
        <div style="text-align: right">

        </div>
      </div>
    </div>
    <p>
      <b>Forward-Looking Statements</b>
    </p>
    <p>
      This press release contains forward-looking statements, including
      statements about future operations and projected full-year financial
      results that are subject to risks and uncertainties that could cause
      actual results to differ materially from those expressed or implied by
      such forward looking statements. These risks and uncertainties include
      but are not limited to economic, competitive, governmental and
      technological factors affecting the Company's operations, markets,
      products, services, and pricing. Readers should carefully review the
      risk factors and the information that could materially affect the
      Company's financial results and business, described in documents the
      Company files from time to time with the Securities and Exchange
      Commission, including its quarterly reports on Form 10-Q and Annual
      Reports on Form 10-K, and particularly the discussions of business
      considerations and certain factors that may affect results of operations
      and stock price set forth therein. Readers are cautioned not to place
      undue reliance on these forward-looking statements, which speak only as
      of the date of this press release. The Company undertakes no obligation
      to revise or publicly release the results of any revision to these
      forward-looking statements.
    </p>
    <p>
      CONTACT:<br>BBCN Bancorp, Inc.<br>Angie Yang<br>SVP, Investor Relations<br>213-251-2219<br><u>angie.yang@BBCNbank.com</u>
    </p>
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