Pacific City Financial Corporation Announces Henry Kim to Succeed as President and Chief Executive Officer

LOS ANGELES--()--Pacific City Financial Corporation (OTC: PFCF) (“Company”), the holding company for Pacific City Bank (the “Bank”), today announced that the board of directors unanimously appointed Henry Kim to succeed as President and Chief Executive Officer of the Company and the Bank upon retirement of Haeyoung Cho at the end of 2017. Ms. Cho as a founding member of the Bank served as President and Chief Executive Officer since 2011.

“On behalf of board of directors, we are delighted to appoint Henry Kim to succeed Ms. Cho,” said Kwang Jin Chung, Chairman of the Board. “Mr. Kim has been central to the success of our institution during the past several years and we believe, as one of the founding members of Pacific City Bank, his leadership and his exceptional marketplace knowledge will lead us to continue to grow and transform our Company and the Korean-American banking where he will be instrumental in bridging the highly successful first generation Korean immigrant customers and the up-and-coming second generation descendants in the coming years. His vision and strategies has always aligned with the long-term benefits of the shareholders. It is the hope of all the members of our board by making this second consecutive successful internal CEO promotion, we provide a positive influence to Korean-American banking and provide encouragement to all those talented hardworking bankers in the communities we serve. ”

“Haeyoung Cho has remarkably served as our leader since the founding of our Bank, and as President and CEO for the past six years. Among many of her accomplishments, she was instrumental in returning the Bank into profitability since the last financial crisis and raising adequate capital in multiple occasions to facilitate asset growth.”

Since 2014, Mr. Kim has served as Senior Executive Vice President, Chief Credit Officer and Chief Operating Officer of the Company and the Bank. He also served as Executive Vice President and Chief Credit Officer of the Company and the Bank since 2011. Between 2003 and 2011, Mr. Kim served as Senior Vice President and Chief Credit Officer of the Company and the Bank. Prior to that, Mr. Kim held Senior Loan Officer Position in other Korean-American banks in Southern California. Mr. Kim is a graduate of University of California Santa Barbara and a graduate of Pacific Coast Banking School.

About Pacific City Financial Corporation

Headquartered in Los Angeles, California, Pacific City Financial Corporation is the parent company of Pacific City Bank, a full-service commercial bank with twelve branch offices and ten loan production offices in Lynwood and Bellevue, Washington; Denver, Colorado; Chicago, Illinois; Annandale, Virginia; Atlanta, Georgia; Orange County, California; Bayside, New York; Los Angeles, California; and Carrollton, Texas. Pacific City Bank specializes in commercial banking for small to medium-size businesses by providing commercial real estate loans, small business loans and lines of credit, trade finance loans, auto loans, residential mortgage loans, and SBA loans. Pacific City Bank serves a diverse customer base through its branches in the Greater Los Angeles Area and Fort Lee, New Jersey and its Loan Production Offices in eight States.

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Contacts

Pacific City Financial Corporation
Timothy Chang
Executive Vice President & Chief Financial Officer
213-210-2000

Contacts

Pacific City Financial Corporation
Timothy Chang
Executive Vice President & Chief Financial Officer
213-210-2000