Wilshire Bancorp, Inc.: A Bank Holding Company

Wilshire Bancorp, Inc. is a Los Angeles, California-based bank holding company. The business is the parent company of the Wilshire Bank, a California state-chartered commercial bank. Through its operating subsidiary, the company continues to offer a wide range of financial products and services that are tailored to help their clients reach their financial goals.

It was in December 2003 that the company got incorporated. It continues to publicly trade its common shares using the ticker symbol WIBC on the NASDAQ Stock Exchange. As of December 2014, the company’s portfolio is comprised of more than $4.16 billion in assets and a total of $3.32 billion in loans. Deposits of the company are estimated to be around $3.40 billion. Wilshire Bancorp is a member of the Federal Insurance Deposit Corporation and continues to fortify its membership of Federal Home Loan Banks.

Wilshire Bank operates within the southern California region. They also have banking branches in Texas, the greater New York area and in New Jersey. There are 34 full-service bank branches that operate under the Wilshire Bank brand name. In addition to these locations, they also maintain 4 loan production offices, each located in California, Colorado, Georgia and Washington. The business offers depository products and services and a variety of loan activities that are fuelled by the company’s pooled deposits. Additionally, Their membership to the FHLB allows them to secure overnight and short term borrowings to supplement their funds. As of December 2014, their real estate loans remains to be the biggest portion of their portfolio and encompasses 81% of their total loan activities.

Wilshire Bancorp invests on the latest technology to further provide their consumers the best banking experience. Their seasoned employees continue to provide the best service to customers, businesses and institutions. As a community bank, Wilshire Bank highlights the solutions they provide to small and medium-sized businesses, which serve as backbone to the communities they operate in.