Dear Valued BankAsiana Customers,
We are very excited to inform you that on October 1, 2013, Wilshire Bank and BankAsiana completed the legal merger of the two banks, which we announced earlier on June 10, 2013.
This acquisition will double the size of Wilshire Bank’s New York/New Jersey franchise and create a much stronger nationwide network of full-service branches as well as SBA loan production offices serving the Multi–Ethnic communities throughout the United States.
BankAsiana becomes Wilshire Bank starting October 1, 2013
As of October 1, 2013, all former BankAsiana branches will become Wilshire Bank branches. However, it will take us little more time to update all of the former BankAsiana signs, forms and other materials and to fully consolidate our respective loan, deposit, and other operations systems. We expect the core systems conversion to be completed by November 8, 2013. We would very much appreciate your patience and understanding during this transitional period, which we will try our best to make as smooth and non-disruptive as possible.
More Valuable Benefits and Larger Branch Network for Our Expanded Customer Base
You can rest assured that this merger will result in many more valuable benefits and a broader suite of products and services for all former BankAsiana customers including the following:
- Greater convenience- with immediate access to your accounts at both Wilshire Bank in New York/New Jersey and former BankAsiana branches.
- Better access to your funds through an expanded network of Surcharge free ATMs.
- Increased loan capacity- We will be able to make much larger loans for your growing business needs
Wilshire Bank was founded in Los Angeles, California 33 years ago in 1980 with a mission to serve an overlooked multi-ethnic small to mid-sized business community. This mission still describes Wilshire Bank today. We expanded into many multi-ethnic communities and are one of the few Korean-American banks to have multi-ethnic customer base, employees and even board members.
With the addition of 3 former BankAsiana branches, Wilshire Bank will now operate 28 full-service branch offices in California, Texas, New Jersey, and New York, as well as 9 SBA loan production offices across the country. We provide the following products and services:
- Business and personal banking
- Commercial lending
- SBA lending (SBA- nationwide preferred lender)
- Trade finance
- Construction lending
- Home mortgage
- Treasury management services
What to Except After the System Conversion on November 8, 2013:
At the close of business on Friday, November 8, 2013 when the system conversion is completed, your account(s) will be transferred to a new computer system and the newly transferred accounts will become available to you starting on Tuesday, November 12, 2013. Please know that we are making every effort to assure your transition to the new computer system is a smooth and beneficial one.
In anticipation of some questions you may have, please review Frequently Asked Question and contact your primary banking branch if you have any additional questions.
Again, welcome to Wilshire Bank, where we consider it a privilege to have you as our valued customer. We look forward to having the opportunity to continue to provide excellent banking services to you into the future.
J. W. Yoo
President & CEO