Wilshire Aims to Raise Up to $100M

Wilshire Bancorp Inc. in Los Angeles has filed a shelf registration to raise up to $100 million of capital.

The $3.2 billion-asset company said in a Securities and Exchange Commission filing Thursday that the proceeds could be used for acquisitions, repaying debt, redeeming securities, or other corporate purposes.

Wilshire, which focuses on Korean-American customers, said earlier this year that it was eyeing several acquisition candidates in ethnic communities across the country, including Los Angeles' Koreatown.

The company did not specify whether it might repay its government capital, but it received $62.1 million from the Treasury Department's Troubled Asset Relief Program in December. — Robert Barba

For reprint and licensing requests for this article, click here.
Community banking California
MORE FROM AMERICAN BANKER