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February 20, 2013

BBCN Bancorp, PI Bank merge

LOS ANGELES — BBCN Bancorp, the parent company of Los Angeles-based BBCN Bank, has completed its merger with Seattle-based Pacific International Bancorp, the holding company of Pacific International Bank, also known as PI Bank.

“We are extremely excited to complete this merger, which positions BBCN as the dominant Korean-American bank in terms of branch offices and deposit market share in the Pacific Northwest,” said Bonita I. Lee, acting president and COO of BBCN, in a release. “BBCN is well positioned to capitalize on what we believe will be increasing business opportunities in the Pacific Northwest in the years to come.”

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