Center Bank Opens Full-Service Branch in Irvine, California; Company Now Operates 17 Full-Service Branches Nationwide
November 11 2005 - 5:01AM
Business Wire
Center Financial Corporation (Nasdaq:CLFCE), the holding company of
Center Bank, today announced the opening of its newest full-service
branch office in Irvine, Calif. The company named Clara H. Choe as
manager of the Irvine Branch, Center Bank's 17th full-service
office, located at 14429 Culver Drive, Irvine, California 92604,
telephone number 949-777-3777. "We are excited to strengthen our
network in the important Southern California area as a premier
provider of financial services to the Korean-American and other
ethnic business communities," said (Paul) Seon-Hong Kim, president
and chief executive officer of Center Financial. "Our new branch in
Irvine will serve a large and growing marketplace small and
mid-sized business owners, and we feel the prospects for our newest
full-service branch are strong. "Managing our Irvine Branch is
Clara H. Choe, who brings nearly two decades of commercial banking
experience in the U.S. and Korea to Center Bank," Kim added.
"Clara's experience in relationship management banking encompasses
a wide range of expertise, including business development, credit
risk analysis, branch administration, loan production and cash
management. We believe she will be a great asset to our
organization." Clara Choe most recently served as a relationship
manager, vice president, at Mizuho Corporate Bank of California
where she acquired and developed loans and deposits of U.S.
subsidiaries of large Korean companies. Prior, Choe held various
positions at Citigroup in Seoul, Korea, ultimately becoming a
relationship manager for corporate banking and vice president. In
Korea, Choe also worked at AT&T Communications as director of
sales and operations. Prior to her time at AT&T, Choe was a
supervisor of the consumer credit unit at Citibank, also in Seoul.
In the United States, Choe has worked in a variety of capacities
for both Chase Manhattan Bank and Wells Fargo Bank. Choe received
her master of business administration from the University of
Southern California and her bachelor of arts in economics from the
University of California, Berkeley. About Center Financial
Corporation Center Financial Corporation is the holding company of
Center Bank, a community bank offering a full range of financial
services for diverse ethnic and small business customers. Founded
in 1986 and specializing in commercial and SBA loans and trade
finance products, Center Bank has grown to be one of the nation's
largest financial institutions focusing on the Korean-American
community, with total assets of $1.6 billion at September 30, 2005.
Headquartered in Los Angeles, Center Bank operates 25 branch and
loan production offices across the nation. Of the company's 16
full-service branches, 14 are located throughout Southern
California, along with one branch each in Chicago and Seattle.
Center Bank's nine loan production offices are strategically
located in Phoenix, Seattle, Denver, Washington D.C., Las Vegas,
Atlanta, Honolulu, Houston and Dallas. Center Bank is a California
state-chartered institution and member of the FDIC. For additional
information on Center Bank, visit the company's Web site at
www.centerbank.com. This release may contain forward-looking
statements, which are included in accordance with the "safe harbor"
provisions of the Private Securities Litigation Reform Act of 1995
and accordingly, the cautionary statements contained in Center
Financial Corp's Annual Report on Form 10-K for the fiscal year
ended Dec. 31, 2004. (See Business, and Management's Discussion and
Analysis), and other filings with the Securities and Exchange
Commission are incorporated herein by reference. These factors
include, but are not limited to: the company's successful operation
of the newly established Irvine Office; the effect of interest rate
and currency exchange fluctuations; competition in the financial
services market for both deposits and loans; Center Financial's
ability to efficiently incorporate acquisitions into its
operations; the ability of Center Financial and its subsidiaries to
increase its customer base; and regional and general economic
conditions. Actual results and performance in future periods may be
materially different from any future results or performance
suggested by the forward-looking statements in this release. Such
forward-looking statements speak only as of the date of this
release. Center Financial expressly disclaims any obligation to
update or revise any forward-looking statements found herein to
reflect any changes in the Company's expectations of results or any
change in events.
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