Hanmi Financial Withdraws Offer To Combine With BBCN Bancorp - Quick Facts

(RTTNews) - Hanmi Financial Corp. (HAFC), the holding company for Hanmi Bank, said it has withdrawn its proposal to combine with BBCN Bancorp, Inc. (BBCN). Hanmi's decision to withdraw follows the announced definitive agreement between BBCN and Wilshire Bancorp, Inc. (WIBC).

"While we strongly believe that Hanmi's proposal was superior to BBCN's announced agreement with Wilshire, as a disciplined acquirer, we have concluded that, at this time, continued pursuit of a combination with BBCN is not in the best interests of our stockholders," Hanmi's board of directors said in a statement.

Hanmi said it remains focused on its disciplined growth strategy.