<SEC-DOCUMENT>0001157523-12-005425.txt : 20121026
<SEC-HEADER>0001157523-12-005425.hdr.sgml : 20121026
<ACCEPTANCE-DATETIME>20121025200534
ACCESSION NUMBER:		0001157523-12-005425
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20121022
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20121026
DATE AS OF CHANGE:		20121025

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:		121162560

	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>a50455715.htm
<DESCRIPTION>BBCN BANCORP, INC. 8-K
<TEXT>
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    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>UNITED STATES</b></font><br><font style="font-size: 12pt"><b>SECURITIES
      AND EXCHANGE COMMISSION</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>Washington,
      D.C. 20549</b></font><br>
    </p>
    <hr style="height: 1.0 pt; text-align: center; width: 10%; color: #000000">


    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>FORM 8-K</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>Current
      Report</b></font><br><font style="font-size: 12pt"><b>Pursuant To
      Section 13 or 15 (d) of The Securities Exchange Act of 1934</b></font>
    </p>
    <p style="text-align: center">
      <br>
      <b>Date of Report (Date of earliest event reported):&#160;<font style="font-size: 10pt">&#160;</font><font style="font-family: Times New Roman; font-size: 10pt">October
      22, 2012</font></b><br>
    </p>
    <hr style="height: 1.0 pt; text-align: center; width: 10%; color: #000000">


    <p style="text-align: center">

    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; width: 100%; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 16pt"><b>BBCN BANCORP, INC.</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Exact name of registrant as specified in its charter)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <hr style="text-align: center; width: 10%; height: 1.0 pt; color: #000000">


    <p style="text-align: center">

    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; width: 100%; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="top" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt"><b>Delaware</b></font>
          </p>
        </td>
        <td valign="top" style="text-align: center; width: 34%; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt"><b>000-50245</b></font>
          </p>
        </td>
        <td valign="top" style="text-align: center; width: 33%; white-space: nowrap; padding-right: 0.0px; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <font style="font-size: 10pt"><b>95-4170121</b></font>
          </p>
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(State or other jurisdiction<br>of incorporation)</b>
          </p>
        </td>
        <td valign="top" style="text-align: center; width: 34%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(Commission File Number)</b>
          </p>
        </td>
        <td valign="top" style="text-align: center; width: 33%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <b>(IRS Employer Identification No.)</b>
          </p>
        </td>
      </tr>
    </table>
    </div>
    <hr style="text-align: center; width: 10%; height: 1.0 pt; color: #000000">


    <p style="text-align: center">

    </p>
    <p style="text-align: center">
      <font style="font-size: 12pt"><b>3731 Wilshire Boulevard </b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>Suite
      1000</b></font><font style="font-size: 12pt"><br style="font-size: 12pt"></font><font style="font-size: 12pt"><b>Los
      Angeles, CA 90010</b></font><br><b>(Address of principal executive
      offices)</b>
    </p>
    <p>

    </p>
    <p style="text-align: center">
      <b>Registrant&#8217;s telephone number, including area code: <font style="font-size: 12pt">(213)
      639-1700</font></b>
    </p>
    <p style="text-align: center">
      <b>Not applicable.</b><br><b>(Former name or former address, if changed
      since last report)</b>
    </p>
    <p style="text-align: center">

    </p>
    <p>
      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 (<i>see </i>General Instruction A.2. below):
    </p>
    <p>
      <font style="font-size: 10pt; font-family: Arial Unicode MS">&#8864;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Written
      communications pursuant to Rule 425 under the Securities Act (17 CFR
      230.425)</font><br><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Soliciting
      material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
      240.14a-12)</font><br><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
      240.14d-2(b))</font><br><font style="font-size: 10pt; font-family: Arial Unicode MS">&#8414;</font>
      <font style="font-size: 10pt; font-family: Times New Roman">Pre-commencement
      communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
      240.13e-4(c))</font><br>
    </p>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 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&#160;1.01</b>&#160;&#160;&#160;&#160;&#160;<b>Entry into a
      Material Definitive Agreement.</b>
    </p>
    <p style="text-align: justify">
      On October 22, 2012, BBCN Bancorp, Inc. (the &#8220;Company&#8221;) entered into an
      Agreement and Plan of Merger (the &#8220;Merger Agreement&#8221;) with Pacific
      International Bancorp, Inc., a Washington corporation (&#8220;Pacific
      International&#8221;), pursuant to which Pacific International will be merged
      with and into the Company (the &#8220;Merger&#8221;).
    </p>
    <p style="text-align: justify">
      Subject to the terms and conditions of the Merger Agreement, which has
      been approved by the boards of directors of both the Company and Pacific
      International, upon the completion of the Merger each issued and
      outstanding share of Pacific International&#8217;s common stock will be
      converted into shares of the Company&#8217;s common stock based on a value of
      $1.75 for the Pacific International stock, , with cash to be paid in
      lieu of issuance of fractional shares of the Company&#8217;s common stock.
    </p>
    <p style="text-align: justify">
      The issued and outstanding shares of Pacific International&#8217;s Fixed Rate
      Cumulative Perpetual Preferred Stock, Series A held by the U.S.
      Department of the Treasury will be converted into the right to receive
      cash in the amount of $6.5 million plus all accrued and unpaid dividends
      on such shares.
    </p>
    <p style="text-align: justify">
      The Merger Agreement contains customary representations, warranties and
      covenants of the Company and Pacific International, including, among
      others, covenants by Pacific International to conduct its business only
      in the ordinary course consistent with past practice during the period
      between the execution of the Merger Agreement and the consummation of
      the Merger and not to engage in certain kinds of transactions during
      such period.
    </p>
    <p style="text-align: justify">
      The board of directors of Pacific International has adopted a resolution
      recommending the approval and adoption of the Merger Agreement by its
      stockholders.&#160;&#160;Pacific International has also agreed not to initiate,
      solicit, encourage or knowingly facilitate any proposals relating to
      alternative business combination transactions or enter into discussions
      or negotiations or provide any confidential information in connection
      with any proposals for alternative business combination transactions,
      with certain exceptions.
    </p>
    <p style="text-align: justify">
      The consummation of the Merger is subject to various conditions,
      including, among others, (i) receipt of requisite approval of the
      stockholders of Pacific International, (ii) receipt of all required
      regulatory approvals, (iii) accuracy of the representations and
      warranties of each party, (iv) material compliance by each party with
      its obligations under the Merger Agreement and (v) the absence of any
      Material Adverse Effect on either party to the Merger Agreement.
    </p>
    <p style="text-align: justify">
      On October 22, 2012, the Company and Pacific International issued a
      joint press release announcing the execution of the Merger Agreement, a
      copy of which is attached as Exhibit 99.1 hereto and is incorporated by
      reference herein.
    </p>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; text-align: center; font-size: 10pt">
          2
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          <hr style="height: 1.5pt; color: black">

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

        </div>
      </div>
    </div>
    <p>
      <b>Item&#160;9.01</b>&#160;&#160;&#160;&#160;&#160;<b>Financial
      Statements and Exhibits.</b>
    </p>
    <p>
      (d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits.
    </p>
<div style="text-align:left">
    <table style="font-family: Times New Roman; width: 100%; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td valign="bottom" style="text-align: left; width: 15%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Exhibit No.</u>
          </p>
        </td>
        <td valign="bottom" style="text-align: left; width: 85%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            <u>Document Description</u>
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 15%">

        </td>
        <td style="width: 85%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="bottom" style="text-align: left; width: 15%; padding-left: 0.0px">
          Exhibit 99.1
        </td>
        <td valign="bottom" style="text-align: left; width: 85%; padding-left: 0.0px">
          Joint Press Release, issued by BBCN Bancorp, Inc. and Pacific
          International Bancorp, Inc., dated October 22, 2012
        </td>
      </tr>
    </table>
    </div>
    <p>
      <b>Additional Information and Where To Find It</b>
    </p>
    <p style="text-align: justify">
      In connection with the proposed Merger, the Company will file a
      Registration Statement on Form S-4 with the Securities and Exchange
      Commission (&#8220;SEC&#8221;) that will include a proxy statement/prospectus
      relating to the Merger and the Company&#8217;s common stock to be issued in
      connection therewith, as well as other relevant documents concerning the
      proposed transaction.&#160;&#160;Shareholders are urged to read the Registration
      Statement and the proxy statement/prospectus regarding the proposed
      merger when it becomes available and any other relevant documents filed
      by the Company with the SEC, as well as any amendments or supplements to
      those documents, because they will contain important information.&#160;&#160;The
      proxy statement/prospectus, as well as other filings containing
      information about the Company, are available free of charge at the SEC&#8217;s
      Internet site (www.sec.gov).&#160;&#160;These documents are also available free of
      charge from the Company at www.bbcnbank.com under the tab &#8220;Investor
      Relations&#8221; and then under the heading &#8220;SEC Filings&#8221;.
    </p>
    <p>

    </p>
    <p>

    </p>
    <div style="margin-bottom: 10pt; width: 100%; margin-right: 0pt; margin-left: 0pt; text-indent: 0pt">
      <div>
        <div style="text-align: left">

        </div>
      </div>
      <div style="page-break-after: always">
        <div style="font-family: Times New Roman; text-align: center; font-size: 10pt">
          3
        </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>

    </p>
    <p style="text-align: center">
      SIGNATURES
    </p>
    <p>
      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 thereunto duly authorized.
    </p>
    <p style="text-indent: 30.0px; font-size: 10pt">

    </p>
    <p style="text-align: left">

    </p>
    <div style="text-align:center">
    <table style="font-family: Times New Roman; width: 100%; margin-left:auto;margin-right:auto; margin-bottom: 10.0px; font-size: 10pt" cellspacing="0">
      <tr>
        <td style="width: 5%">

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

        </td>
        <td valign="top" style="text-align: left; width: 1%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; padding-left: 0.0px" colspan="2">
          <p style="margin-top: 0px; margin-bottom: 0px">
            BBCN BANCORP, INC.
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

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

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 46%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; width: 5%; padding-left: 0.0px">

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

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

        </td>
        <td style="width: 3%">

        </td>
        <td style="width: 46%">
          &#160;
        </td>
      </tr>
      <tr>
        <td valign="top" style="text-align: left; width: 5%; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Date:
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 45%; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            October 25, 2012
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 1%; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 3%; padding-left: 0.0px; padding-bottom: 2.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            By:
          </p>
        </td>
        <td valign="top" style="text-align: left; width: 46%; border-bottom: solid black 1.0pt; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            /s/ Alvin D. Kang
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

        </td>
        <td valign="top" style="text-align: left; width: 1%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="text-align: left; width: 46%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Name: Alvin D. Kang
          </p>
        </td>
      </tr>
      <tr>
        <td style="width: 5%">

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

        </td>
        <td valign="top" style="text-align: left; width: 1%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            &#160;
          </p>
        </td>
        <td style="width: 3%">

        </td>
        <td valign="top" style="text-align: left; width: 46%; padding-left: 0.0px">
          <p style="margin-top: 0px; margin-bottom: 0px">
            Title: President &amp; Chief Executive Officer
          </p>
        </td>
      </tr>
    </table>
    </div>
    <p>
      <br>
      <br>
      <br>

    </p>
    <p style="text-align: center">
      4
    </p>
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<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>a50455715ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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    <title></title>
<!--Copyright 2012 Business Wire, a Berkshire Hathaway company.-->
<!--All rights reserved www.businesswire.com-->
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    <p style="text-align: right">
      <b>Exhibit 99.1</b>
    </p>
    <p style="text-align: center">
      <font style="font-family: Times New Roman; font-size: 12pt"><b>BBCN
      Bancorp Announces Acquisition of Pacific International Bancorp</b></font>
    </p>
    <p>
      LOS ANGELES--(BUSINESS WIRE)--October 22, 2012--BBCN Bancorp, Inc.
      (NASDAQ: BBCN), based in Los Angeles, and Pacific International Bancorp,
      Inc. (OTCBB: PIBW), based in Seattle, today jointly announced the
      signing of a definitive agreement under which Pacific International
      Bancorp will merge with BBCN.
    </p>
    <p>
      Pacific International has total assets of approximately $200 million,
      and its primary subsidiary, Pacific International Bank, a
      state-chartered bank, has four bank locations in the Seattle
      metropolitan area. Upon completion of the transaction, which is expected
      to close during first quarter 2013, BBCN will have six branches in the
      Seattle area.
    </p>
    <p>
      Under the terms of the merger agreement, the stock-for-stock transaction
      is valued at approximately $8.2 million, valuing each outstanding share
      of Pacific International common stock at $1.75. As part of the
      transaction, Pacific International&#8217;s $6.5 million in Series A Preferred
      Stock issued under the U.S. Treasury&#8217;s TARP Capital Purchase Program
      will be retired.
    </p>
    <p>
      &#8220;This transaction will position BBCN as a major player in the Pacific
      Northwest Korean American community,&#8221; said Alvin D. Kang, President and
      Chief Executive Officer of BBCN Bancorp. &#8220;With this transaction, BBCN
      will be the market leader in Southern California, Northern California,
      New York and the Seattle metropolitan area. We expect to have a smooth
      and seamless integration, which will quickly position us to achieve the
      benefits of this merger for our customers, our employees and our
      shareholders.&#8221;
    </p>
    <p>
      &#8220;Given BBCN&#8217;s strong financial position, supported by a steady stream of
      core earnings and deep leadership bench, BBCN was our top choice for a
      partner,&#8221; said Paul G. Sabado, President and Chief Executive Officer of
      Pacific International. &#8220;This transaction will enhance our resources,
      operational scale and banking expertise, thereby increasing our ability
      to serve our customers in what continues to be a challenging regulatory
      and economic environment. Both of our organizations have served the
      Seattle area for more than 10 years, and we look forward to providing
      our expanded customer base with increased accessibility and continuing
      our heritage of providing excellent customer service.&#8221;
    </p>
    <p>
      The transaction is subject to regulatory approval, the approval of the
      shareholders of Pacific International, and other customary closing
      conditions.
    </p>
    <p>
      BBCN was advised by the law firm of Mayer Brown LLP and was provided
      with a fairness opinion by Raymond James. Pacific International was
      advised by the investment banking firm of Keefe, Bruyette &amp; Woods, Inc.
      and the law firm of Graham &amp; Dunn PC.
    </p>
    <p>
      <b>Additional Information and Where to Find It</b>
    </p>
    <p>
      In connection with the proposed merger, BBCN Bancorp, Inc. will file a
      Registration Statement with the Securities and Exchange Commission
      (&#8220;SEC&#8221;) on Form S-4 that will include a proxy statement/prospectus, as
      well as other relevant documents concerning the proposed transaction.
      Shareholders are urged to read the Registration Statement, including the
      proxy statement/prospectus regarding the proposed transaction, when it
      becomes available and any other relevant documents filed with the SEC,
      as well as any amendments or supplements to those documents, because
      they will contain important information. Shareholders may obtain a free
      copy of the proxy statement/prospectus, as well as other filings
      containing information about BBCN Bancorp at the SEC&#8217;s Internet site (<u>www.sec.gov</u>).
      Shareholders may also obtain these documents, free of charge, by
      directing a request to BBCN Bancorp, Attention: Investor Relations, 3731
      Wilshire Blvd., Suite 1000, Los Angeles, Calif. 90020, or on the BBCN
      website at <u>www.bbcnbank.com</u> in the &#8220;Investor Relations&#8221; section
      under the heading &#8220;SEC Filings.&#8221;
    </p>
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    <p>
      <u><b>About BBCN Bancorp, Inc.</b></u>
    </p>
    <p>
      BBCN Bancorp, Inc. is the parent company of BBCN Bank, the largest
      Korean American bank in the nation with more than more than $5.3 billion
      in assets as of September 30, 2012. The Company is a result of the
      merger of equals of Nara Bancorp, Inc. and Center Financial Corporation
      completed on November 30, 2011. Headquartered in Los Angeles and serving
      a diverse mix of customers mirroring its communities, BBCN operates 40
      branches in California, New York, New Jersey, Washington and Illinois,
      along with five loan production offices in Seattle, Denver, Dallas,
      Atlanta and Northern California. BBCN specializes in core business
      banking products for small and medium-sized businesses, 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>
    <p>
      <u><b>About Pacific International Bancorp, Inc.</b></u>
    </p>
    <p>
      Pacific International Bancorp, Inc. is the holding company of Pacific
      International Bank which is the oldest and largest Korean American Bank
      headquartered in the Pacific Northwest. Pacific International Bank
      opened in November 2001. It is a business bank and has been a
      significant supporter of small businesses within the Korean American and
      other minority communities. Small Business Administration (SBA) lending
      has been a top priority Pacific International Bank, which has sponsored
      and held several small business financing workshops for the local small
      business community. Pacific International Bank has branches in Seattle,
      Tacoma, Lynnwood and Federal Way and employs 51 people. The bank is a
      preferred (PLP) Lender for SBA loans and its deposits are insured by
      FDIC to the fullest extent possible. Pacific International Bank is an
      Equal Opportunity Lender.
    </p>
    <p>
      <b>Forward-Looking Statements</b>
    </p>
    <p>
      <i>This press release contains statements regarding the proposed
      transaction between BBCN Bancorp and Pacific International, future
      financial and operating results, benefits and synergies of the proposed
      transaction and other statements about the future expectations, beliefs,
      goals, plans or prospects of the management of each of BBCN Bancorp and
      Pacific International. These statements are based on current
      expectations, estimates, forecasts and projections and management
      assumptions about the future performance of each of BBCN Bancorp and
      Pacific International and the combined company, as well as the
      businesses and markets in which they operate. These statements
      constitute forward-looking statements within the meaning of the U.S.
      Private Securities Litigation Reform Act of 1995. Words such as
      &#8220;expects,&#8221; &#8220;believes,&#8221; &#8220;estimates,&#8221; &#8220;anticipates,&#8221; &#8220;targets,&#8221; &#8220;goals,&#8221;
      &#8220;projects,&#8221; &#8220;intends,&#8221; &#8220;plans, &#8220;seeks,&#8221; and variations of such words and
      similar expressions are intended to identify such forward-looking
      statements, which are not statements of historical fact. These
      forward-looking statements are not guarantees of future performance and
      involve risks, uncertainties and assumptions that are difficult to
      assess. Actual outcomes and results may differ materially from what is
      expressed or forecasted in such forward-looking statements. The closing
      of the proposed transaction is subject to regulatory approval, the
      approval of the shareholders of Pacific International, and other
      customary closing conditions.</i> <i>There is no assurance that such
      conditions will be met or that the proposed transaction will be
      consummated within the expected time frame, or at all.</i> <i>If the
      transaction is consummated, factors that may cause actual outcomes to
      differ from what is expressed or forecasted in these forward-looking
      statements include, among things: difficulties and delays in integrating
      BBCN Bancorp and Pacific International and achieving anticipated
      synergies, cost savings and other benefits from the transaction; higher
      than anticipated transaction costs; deposit attrition, operating costs,
      customer loss and business disruption following the merger, including
      difficulties in maintaining relationships with employees, may be greater
      than expected; required governmental approvals of the merger may not be
      obtained on its proposed terms and schedule, or without regulatory
      constraints that may limit growth; competitive pressures among
      depository and other financial institutions may increase significantly
      and have an effect on revenues; the strength of the United States
      economy in general, and of the local economies in which the combined
      company will operate, may be different than expected, which could result
      in, among other things, a deterioration in credit quality or a reduced
      demand for credit and have a negative effect on the combined company&#8217;s
      loan portfolio and allowance for loan losses; changes in the U.S. legal
      and regulatory framework; and adverse conditions in the stock market,
      the public debt market and other capital markets (including changes in
      interest rate conditions) which would negatively affect the combined
      company&#8217;s business and operating results.</i>
    </p>
    <p style="text-align: left">
      <i>For a more complete list and description of such risks and
      uncertainties, refer to BBCN Bancorp&#8217;s Form 10-K for the year ended
      December 31, 2011, as well as other filings made by BBCN Bancorp with
      the SEC. Except as required under the U.S. federal securities laws and
      the rules and regulations of the SEC, BBCN Bancorp and Pacific
      International disclaim any intention or obligation to update any
      forward-looking statements after the distribution of this press release,
      whether as a result of new information, future events, developments,
      changes in assumptions or otherwise.</i>
    </p>
    <p>
      CONTACT:<br>For BBCN:<br>Angie Yang<br>SVP, Investor Relations<br>213-251-2219<br><u>angie.yang@BBCNbank.com</u><br>or<br>For
      Pacific International:<br>Paul Sabado<br>President &amp; CEO<br>206-306-0678<br><u>paul.sabado@pibank.com</u>
    </p>
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