Wilshire State Bank Opens Loan Production Offices in San Antonio and Las Vegas

LOS ANGELES--()--Aug. 2, 2004--Wilshire State Bank (Nasdaq:WSBK) announced today the opening of two new Loan Production Offices (LPOs) as part of the company's ongoing expansion strategy. The San Antonio and Las Vegas offices will be primarily focused on SBA and mortgage lending, just like the Oklahoma office that opened in June. The San Antonio office has been open since mid-July and the Las Vegas office, which just received regulatory approval, should be open this week.

"Our expansion continues, with our fifth and sixth LPOs outside our core Southern California market," stated Soo Bong Min, President and CEO. "San Antonio and Austin comprise one of the largest markets in the country, and Nevada in the fastest growing state in US. I expect that we will continue to add LPOs as opportunities in dynamic markets present themselves, although at a more moderate pace."


Contacts: 

Roger Guerra
Wilshire State Bank, Loan Production Office
13750 San Pedro Avenue, Suites 608 and 611
San Antonio, TX 78232 
210-490-4551

Jin Ho Huh
Wilshire State Bank, Loan Production Office
3160 S. Valley View, Suite 105
Las Vegas, NV 89102
702-210-2463

Headquartered in Los Angeles, Wilshire State Bank has 12 full-service branch offices in Los Angeles County and Orange County, and six Loan Production Offices in San Jose, Seattle, Dallas, Oklahoma, San Antonio and Las Vegas. The bank is an SBA preferred lender at all of its office locations, excluding the three newest LPOs. 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. The bank's strategic goals include increasing shareholder and franchise value by continuing to grow its multi-ethnic banking business and expanding its geographic reach to other similar markets with strong levels of small business activity.

Statements concerning future performance, events, expectations for growth and market forecasts, and any other guidance on future periods, constitute forward-looking statements that are subject to a number of risks and uncertainties which might cause actual results to differ materially from stated expectations. Specific factors include, but are not limited to, the ability to successfully integrate new business lines, success of expansion efforts, the ability to continue to attract low-cost deposits, competition in the marketplace and general economic conditions. Additional information on these and other factors that could affect the Bank's financial results are included in filings by the Bank with the Securities Disclosure Division of the FDIC. Such forward-looking statements speak only as of the date of this release. The Bank expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in Bank expectations or results or any change in events.

Contacts

Wilshire State Bank
Brian E. Cho, SVP & CFO, 213-387-3200
www.wilshirebank.com

Contacts

Wilshire State Bank
Brian E. Cho, SVP & CFO, 213-387-3200
www.wilshirebank.com