June 6 - Los Angeles-based Wilshire Bancorp Inc. (Nasdaq: WIBC), the parent company of Wilshire State Bank, has reinstated a quarterly cash dividend. All stockholders of record as of June 30, 2013, will be paid a cash dividend of 3 cents per common share, payable on July 15, 2013.
"We are pleased to reinstate our quarterly cash dividend, which reflects the consistently strong financial performance of the company," said Jae Whan Yoo, president and CEO of Wilshire Bancorp and Wilshire State Bank. "Along with our ongoing stock repurchase program, the reinstatement of the quarterly cash dividend enables us to return excess capital to shareholders while also maintaining sufficient capital to continue investing in the growth of our franchise."
About Wilshire State Bank
Headquartered in Los Angeles, Wilshire State Bank operates 25 branch offices in California, Texas, New Jersey and New York, and eight loan production offices in Dallas and Houston, Texas, Atlanta, Aurora, Colo., Annandale, Va., Fort Lee, N.J., Newark, Calif., and Bellevue, Wash., and is an SBA preferred lender nationwide. Wilshire State Bank is a community bank with a focus on commercial real estate lending and general commercial banking, with its primary market encompassing the multi-ethnic populations of the Los Angeles Metropolitan area. For more information, please go to www.wilshirebank.com.