<SEC-DOCUMENT>0001193125-16-590582.txt : 20160720
<SEC-HEADER>0001193125-16-590582.hdr.sgml : 20160720
<ACCEPTANCE-DATETIME>20160513172309
<PRIVATE-TO-PUBLIC>
ACCESSION NUMBER:		0001193125-16-590582
CONFORMED SUBMISSION TYPE:	CORRESP
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20160513

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:		CORRESP

	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>
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<TYPE>CORRESP
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<TD VALIGN="top"><FONT STYLE="font-size:8pt">707&nbsp;WILSHIRE&nbsp;BOULEVARD&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<BR>LOS ANGELES CALIFORNIA<BR>90017-3543</FONT>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman">TELEPHONE: 213.892.5200</P>
<P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman">FACSIMILE: 213.892.5454</P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:8pt; font-family:Times New Roman">WWW.MOFO.COM</P></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top"> MORRISON FOERSTER LLP<P STYLE="font-size:3pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:6.5pt; font-family:Times New Roman">BEIJING, BERLIN, BRUSSELS, DENVER,<BR>HONG KONG,
LONDON, LOS ANGELES,<BR>NEW YORK, NORTHERN VIRGINIA, PALO<BR>ALTO, SACRAMENTO, SAN DIEGO,<BR>SAN&nbsp;FRANCISCO,&nbsp;SHANGHAI,&nbsp;SINGAPORE,<BR>TOKYO, WASHINGTON, D.C.</P></TD></TR>
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<TD VALIGN="top">May&nbsp;13, 2016</TD>
<TD VALIGN="bottom">&nbsp;&nbsp;</TD>
<TD VALIGN="top"></TD>
<TD VALIGN="bottom">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD VALIGN="top">Writer&#146;s Direct Contact<BR> <P STYLE="margin-bottom:0pt; margin-top:0pt; font-size:10pt; font-family:Times New Roman">+1 (213) 892.5562</P>
<P STYLE="margin-bottom:1pt; margin-top:0pt; font-size:10pt; font-family:Times New Roman">BChung@mofo.com</P></TD></TR>
</TABLE> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Erin E. Martin </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Division of
Corporation Finance </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">U.S. Securities&nbsp;&amp; Exchange Commission </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">100 F Street, N.E. </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Washington, D.C. 20549-7010 </P>
<P STYLE="font-size:18pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>Re:</B></TD>
<TD ALIGN="left" VALIGN="top"><B>BBCN Bancorp, Inc. </B></TD></TR></TABLE>
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<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Amendment No.&nbsp;1 to Registration Statement on Form S-4 </B></TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
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<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Filed April&nbsp;20, 2016 </B></TD></TR></TABLE>
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<TD WIDTH="8%">&nbsp;</TD>
<TD WIDTH="5%" VALIGN="top" ALIGN="left"><B>&nbsp;&nbsp;&nbsp;&nbsp;</B></TD>
<TD ALIGN="left" VALIGN="top"><B>File No.&nbsp;333-210002 </B></TD></TR></TABLE> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Dear Ms.&nbsp;Martin: </P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; text-indent:4%; font-size:10pt; font-family:Times New Roman">On behalf of BBCN Bancorp, Inc. (&#147;BBCN&#148;) and Wilshire Bancorp, Inc. (&#147;Wilshire&#148;), this letter responds to your letter,
dated May&nbsp;6, 2016 (the &#147;Comment Letter&#148;), regarding the above-referenced Amendment No.&nbsp;1 to Registration Statement on Form <FONT STYLE="white-space:nowrap">S-4</FONT> (the &#147;Registration Statement&#148;), filed by BBCN on
April&nbsp;20, 2016. Each of your comments is set forth below, followed by the corresponding response. For ease of reference, the headings and numbered paragraphs below correspond to the headings and numbered comments in the Comment Letter. Each
response of BBCN and Wilshire is set forth in ordinary type beneath the corresponding comment of the Staff of the Division of Corporation Finance (the &#147;Staff&#148;) from the Comment Letter appearing in bold type. The page references in our
responses are to the revised joint proxy statement/prospectus included in Amendment No.&nbsp;2 to the Registration Statement (&#147;Amendment No.&nbsp;2&#148;), which is being filed today by electronic submission. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Cover Page </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>1.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Please provide the statements required by Item&nbsp;2(1) and (2)&nbsp;of Form S-4 on the inside front cover page. </B></TD></TR></TABLE>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Response: </I>The Registration Statement has been revised to provide the statements required by Item&nbsp;2(1) and (2)&nbsp;of Form S-4. Please see the
inside front cover page of Amendment No.&nbsp;2. </P>

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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Erin E. Martin </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page Two </P>
<p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>BBCN and Wilshire Proposal 1: The Merger </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Background of the Merger, page 43 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>2.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>We note your response to comment 13. Please revise to disclose the information provided in your response (i.e., that during the discussion with BBCN regarding merger, the Wilshire Special Committee did not discuss
the possibility of inviting or soliciting discussions with merger partners other than BBCN or Hanmi) and also discuss why the Wilshire Special Committee did not consider pursuing a business combination with any third parties (other than BBCN or
Hanmi) or seeking indications of interests from the same. </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Response: </I>The Registration Statement has been revised to disclose the
information requested in this comment no. 2. See page 49 of Amendment No.&nbsp;2. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Interests of Directors and Executive Officers in the Merger </U></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Consulting Agreement, page 85 </U></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>3.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>You disclose that the Consolidation Committee is in the process of finalizing the terms and conditions of the consulting agreement between BBCN and Jae Whan Yoo. When finalized, please revise to disclose the material
terms and conditions of such agreement and file it as an exhibit to the registration statement prior to effectiveness. </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Response:
</I>The Registration Statement has been revised to disclose the material terms and conditions of the consulting agreement between BBCN and Jae Whan Yoo, as well as a separation and release agreement between Wilshire and Jae Whan Yoo. Both agreements
are expected to be executed and delivered by the parties at the consummation of the pending merger. The forms of the consulting agreement and the separation and release agreement with Mr.&nbsp;Yoo have been filed as exhibits to the registration
statement. See page 85 and Exhibits 10.10 and 10.11 of Amendment No.&nbsp;2. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Senior Executive Officers of the Combined Company, page 86 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>4.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>We note your disclosure on page 86 regarding the senior executive officers of the combined company. Please tell us how you considered filing their prospective employment agreements with the combined company as
exhibits to the registration statement. </B></TD></TR></TABLE>

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 </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Erin E. Martin </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Page Three
</P> <p STYLE="margin-top:0pt;margin-bottom:0pt ; font-size:8pt">&nbsp;</P>
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Response: </I>Each of BBCN and Wilshire will not enter into employment agreements with any of the senior
executive officers of the combined company identified in the joint proxy statement/prospectus in connection with the pending merger. The consulting agreement with Mr.&nbsp;Yoo is the only agreement for services that BBCN and Wilshire expect to enter
into with their executive officers in connection with the pending merger. To the extent the combined company enters into any new employment agreements from and after the consummation of the merger, the combined company will disclose and file each
such agreement with the SEC to the extent required by SEC rules and regulations. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><U>Where You Can Find Additional Information, page 218 </U></P>
<P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TD WIDTH="4%">&nbsp;</TD>
<TD WIDTH="4%" VALIGN="top" ALIGN="left"><B>5.</B></TD>
<TD ALIGN="left" VALIGN="top"><B>Please revise to explicitly incorporate by reference the amended Form 10-K that was filed on April&nbsp;28, 2016 by BBCN and the amended Form 10-K that was filed on April&nbsp;28, 2016 and the Form 10-Q that was
filed May&nbsp;2, 2016 by Wilshire. </B></TD></TR></TABLE> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><I>Response: </I>The Registration Statement has been revised to explicitly incorporate by reference
the filings referenced in this comment no. 5. See page 218 of Amendment No.&nbsp;2. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">To help expedite your review, enclosed is a marked copy of Amendment
No.&nbsp;2. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">If you should have any questions, please do not hesitate to call or email me at the above number or email address. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Sincerely, </P> <P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">/s/ Ben Chung </P>
<P STYLE="margin-top:24pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Enclosure </P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">cc:</TD>
<TD ALIGN="left" VALIGN="top">Kevin S. Kim, BBCN Bancorp, Inc. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">David W. Kim, BBCN Bancorp, Inc. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Steven S. Koh, Wilshire Bancorp, Inc. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Jae Whan Yoo, Wilshire Bancorp, Inc. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Lisa Pai, Wilshire Bancorp, Inc. </TD></TR></TABLE>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR>
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&nbsp;&nbsp;&nbsp;&nbsp;</TD>
<TD ALIGN="left" VALIGN="top">Peter G. Weinstock, Hunton&nbsp;&amp; Williams LLP </TD></TR></TABLE>
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
