Wilshire Bancorp Inc. in Los Angeles is planning to raise up to $115 million in a public offering.
The $2.8 billion-asset company said it plans to sell $100 million with an over-allotment option for another $15 million shares of common stock. Wilshire said in a press release late Monday that "a substantial portion" of the process will be used to provide capital to Wilshire State Bank.
Wilshire reported last month that it lost $52.1 million in the first quarter as it took more aggressive measures to address its credit quality issues. Wilshire also recorded a $38.1 million expense in the first quarter related to deferred tax asset valuations.