Item
5.02
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DEPARTURE
OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT
OF
CERTAIN OFFICERS; COMPENSATION ARRANGEMENTS
OF CERTAIN OFFICERS
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Wilshire Bankcorp - Recent Material EventWilshire
Bancorp, Inc. (the “Company”), the holding company for Wilshire State Bank (the
“Bank”), announced today that Larry D. Greenfield, M.D. resigned from the Board
of Directors of the Company and from the Board of Directors of the Bank. Dr.
Greenfield was a Class III director and his resignation is effective December
7,
2007. Dr. Greenfield has informed the Company that he resigned to devote his
time to pursuing other personal and professional endeavors. Dr. Greenfield’s
resignation is not due to any disagreement with the Company or with the Bank,
known to an executive officer of the Company.
The
Company also announced today that Lawrence Jeon, C.P.A., has been appointed
as a
Class I director to the Board of Directors of the Company and the Bank,
effective December 12, 2007. Mr. Jeon has also been appointed to the Company’s
Audit Committee, and will fill the vacancy on the Audit Committee that was
created by Dr. Greenfield’s resignation.
Lawrence
Jeon is a Certified Public Accountant and Partner/Owner of Lawrence Jeon &
Company, a consulting firm that specializes in tax savings plans, audit services
and financial planning. Mr. Jeon holds a Bachelor of Arts degree in Economics
and Business from U.C.L.A. and a Masters of Science degree in Taxation from
Golden Gate University. The Board of Directors of the Company has determined
that Mr. Jeon is independent and financially sophisticated under the rules
and
regulations of the NASDAQ stock market and the Securities and Exchange
Commission.
The
Company’s press releases related to Dr. Greenfield’s resignation and Mr. Jeon’s
appointment to its Board of Directors are filed as Exhibit 99.1 and Exhibit
99.2, respectively, to this Form 8-K and are incorporated by reference herein.
ITEM
9.01 FINANCIAL
STATEMENTS AND EXHIBITS
(c) Exhibits
Exhibit
99.1 Press
release dated December 13, 2007.
Exhibit
99.2 Press
release dated December 13, 2007
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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