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WIBC > SEC Filings for WIBC > Form 8-K on 1-Oct-2013All Recent SEC Filings

Show all filings for WILSHIRE BANCORP INC



Completion of Acquisition or Disposition of Assets, Financial Statements and

Item 2.01. Completion of Acquisition or Disposition of Assets

Effective October 1, 2013, Wilshire Bancorp, Inc. (the "Company") completed its previously-announced acquisition (the "Merger") of BankAsiana, a New Jersey state chartered commercial bank with three branches in the New York/New Jersey market ("BankAsiana"), pursuant to an Agreement and Plan of Merger, dated as of June 8, 2013 (the "Merger Agreement") between the Company and BankAsiana. At closing, a newly-formed, wholly owned subsidiary of the Company merged with and into BankAsiana, with BankAsiana surviving the first merger. Immediately thereafter, BankAsiana merged with and into the Company's wholly owned subsidiary bank, Wilshire State Bank ("Wilshire Bank"), with Wilshire Bank as the surviving entity. Pursuant to the Merger Agreement, holders of BankAsiana common stock have a right to receive $14.25 for each share of BankAsiana common stock held immediately prior to the effective time of the Merger, subject to adjustment as provided for in the Merger Agreement, plus cash in lieu of fractional shares. Each outstanding share of the Company's common stock remained outstanding and was unaffected by the Merger.

The foregoing description of the Merger Agreement does not purport to be complete and is qualified in its entirety by reference to the Merger Agreement, which is incorporated herein by reference as Exhibit 2.1. On October 1, 2013, the Company issued a press release announcing the completion of the Merger, a copy of which is attached hereto as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.                                Description

    2.1       Agreement and Plan of Merger, dated as of June 8, 2013, by and
              between Wilshire Bancorp, Inc. a California corporation, and
              BankAsiana, a New Jersey state chartered commercial bank (attached as
              Exhibit 2.1 to the Company's Quarterly Report on Form 10-Q filed on
              August 2, 2013 and incorporated herein by reference)

   99.1       Press release issued by Wilshire Bancorp, Inc., dated October 1, 2013

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