Wilshire Bancorp Promotes Peter Koh to Chief Credit Officer

Wilshire Bancorp, Inc. WIBC (the "Company"), the holding company for Wilshire State Bank (the "Bank") , today announced that Peter Koh will be promoted to Chief Credit Officer from Deputy Chief Credit Officer on July 1, 2013 following the departure of the current Chief Credit Officer, Jack Choi. Mr. Choi will be leaving on July 1, 2013 to become President and Chief Executive Officer of another bank and his departure is not due to any disagreements with the Company or Bank. Peter Koh, 36, has served as Deputy Chief Credit Officer of Wilshire Bancorp since February 2011. Mr. Koh has been with the Company since 2001 and has served in various credit administration positions including interim Chief Credit Officer during 2011. Mr. Koh graduated with a Master of Business Administration degree from the University of Southern California and also holds a Bachelor of Arts degree from Columbia University. Jae Whan (J.W.) Yoo, President and Chief Executive Officer of Wilshire Bancorp, commented, "Peter Koh has been instrumental in our efforts to enhance our credit administration, credit monitoring, and underwriting over the past few years. He has previously served as interim Chief Credit Officer and he is well qualified to take on additional responsibility and ensure that we have continuity, consistency, and strong leadership in our credit administration department." "We greatly appreciate Jack Choi's excellent work as Chief Credit Officer for almost two years. We wish Jack well in his future endeavors," said Mr. Yoo.