Exhibit 99.1

BBCN Bancorp Reports Full Financial Results for 2011 Fourth Quarter

Q4 2011 Summary:

• Completed a common stock offering and raised gross proceeds of $63.3 million
• Completed merger of equals creating the largest Korean American bank in the nation
• Solid loan production of $157.2 million; $198.8 million on a pro forma combined basis
• Strong capital position with 18.99% total risk-based capital and 11.34% tangible common equity to tangible assets

LOS ANGELES--(BUSINESS WIRE)--February 7, 2012--BBCN Bancorp, Inc. (the “Company”) (NASDAQ: BBCN), the holding company of BBCN Bank (the “Bank”), reported net income available to common stockholders of $2.9 million, or $0.05 per diluted common share, for fourth quarter 2011, compared with net income available to common stockholders of $5.0 million, or $0.13 per diluted common share, for fourth quarter 2010, and net income available to common stockholders of $8.7 million, or $0.23 per diluted common share, for third quarter 2011. For the full year, net income available to common stockholders totaled $22.5 million, or $0.53 per diluted common share, in contrast with a net loss to common stockholders of $11.5 million, or a net loss of $0.30 per common share, for 2010.

The merger of Center Financial Corporation (“Center”) with and into Nara Bancorp, Inc. ("Nara") was completed on November 30, 2011, and the combined Company began operations under the new name of BBCN Bancorp, Inc. effective December 1, 2011.

Fourth quarter 2011 financial results reflect two months of stand-alone operations of the former Nara and one month of combined operations following the completion of the merger. The full year 2011 financial results reflect 11 months of stand-alone operations of the former Nara and one month of combined operations.

Financial results reflect the impact of the following significant expense items recorded in the fourth quarter 2011, which aggregate to $11.5 million:

• A $6.4 million charge related to the prepayment of FHLB advances;
• $3.2 million in merger-related expenses; and
• $1.9 million in post-merger provision expense for acquired Center loans that matured and were refinanced in December 2011.

Alvin D. Kang, President and Chief Executive Officer, said, “The final three months of 2011 represented a milestone quarter which included a successful capital raise, the completion of our merger and the beginnings of our operations under the new name of BBCN Bancorp. We are very pleased that despite the significant time and resources dedicated to completing the merger, our collective teams were able to stay focused on the primary responsibilities of customer service and continuously developing new business opportunities. The results of our efforts can be seen in our solid loan production this quarter, which totaled $198.8 million on a pro forma combined basis for the full quarter. We are making continued progress in building our commercial lending platform, and the strength of our SBA platform is evident when looking at our new SBA loan originations of $51.4 million on a combined basis.

“With the momentum we have built from the merger, we are optimistic about our prospects for 2012 and beyond. Given the additional scale, convenience and brand recognition that we have as the largest Korean American bank, we believe that we will be able to capture additional share in both existing and new targeted markets. As we move through the year and progress with the integration, we expect to begin realizing the synergies of the merger in more normalized operating results during the second half of 2012,” said Mr. Kang.

Acquisition Accounting Adjustments

As a result of the merger, BBCN is required to record the Center assets and liabilities at fair value as of the November 30, 2011 acquisition date in accordance with the acquisition method of accounting. Accordingly, Center's allowance for loan losses of $39.9 million at the acquisition date was eliminated, and the loan portfolio was recorded at fair value, which resulted in a total discount of approximately $95.8 million, or 6.1% of aggregate gross loans acquired. This resulted in a net adjustment to loans of $55.9 million. These adjustments are current as of the date of this announcement, but subject to changes as additional information is obtained and estimates are further refined. The Company cautions that the complete financial results to be included in the Annual Report on Form 10-K for the year ended December 31, 2011 could differ materially from the financial results being reported today pending the final audit of the acquisition accounting adjustments.

A portion of the fair value discount on the loan portfolio will be accreted into interest income over time. The remaining portion of the discount is non-accretable. A summary of the major fair value adjustments is provided in the table below:

The goodwill generated by the merger is initially estimated to be approximately $92 million.

Balance Sheet Restructuring

As previously announced, after an analysis of the combined bank's cash and securities positions following merger completion, the Company effected restructuring transactions designed to reposition certain assets and liabilities. These transactions included the early retirement of $71.0 million in FHLB advances, which resulted in a prepayment charge of $6.4 million. The Company also sold available for sale investment securities with an aggregate book value of $138.2 million at a gain of $1.2 million, or 0.9%, and purchased replacement investment securities with an aggregate book value of $108.9 million.

Operating Results for Fourth Quarter 2011

Net Interest Income and Net Interest Margin. Fourth quarter 2011 net interest income before provision for loan losses was $40.6 million, an increase of 41% from $28.7 million in fourth quarter 2010 and an increase of 31% from $31.1 million in third quarter 2011. The increase in net interest income is primarily attributable to the higher level of interest earning assets following the merger and an improvement in the net interest margin. Net interest income for the quarter also included approximately $2.5 million of additional loan interest income, resulting from the December accretion of the loan discount on acquired loans.

Fourth quarter 2011 net interest margin (net interest income divided by average interest-earning assets) was 4.52%, up 55 basis points from 3.97% for fourth quarter 2010, and up 23 basis points from 4.29% in third quarter 2011. The improvement in the net interest margin was primarily due to a reduction in the cost of time deposits and interest-bearing demand deposits. The cost of time deposits was 0.86% for fourth quarter 2011, compared with 1.30% and 1.11% for fourth quarter 2010 and third quarter 2011, respectively. The cost of interest-bearing demand deposits also decreased to 0.79% for fourth quarter 2011 from 0.97% for fourth quarter 2010, and from 0.84% for third quarter 2011.

On a sequential quarter basis, the net interest margin expansion also benefited from an increase of 14 basis points in the weighted average yield on loans. The increase in the yield on loans was primarily due to the previously mentioned $2.5 million accretion of loan discounts on acquired loans in December 2011.

The weighted average yield on the loan portfolio for fourth quarter 2011 was 6.30%, essentially unchanged from 6.26% for fourth quarter 2010. Excluding the previously mentioned $2.5 million accretion of the discount, the weighted average yield on loans would have been 5.97%. On a sequential quarter basis, the weighted average yield on the loan portfolio increased by 14 basis points over 6.16% for third quarter 2011.

At December 31, 2011, fixed rate loans were 40% of the loan portfolio, compared with 49% at December 31, 2010, reflecting the continued focus on variable rate commercial lending. The weighted average yield on the variable rate and fixed rate loan portfolios (excluding loan discount accretion) at December 31, 2011 was 5.59% and 7.16%, respectively, compared with 4.82% and 7.23% at December 31, 2010.

The weighted average yield on securities available for sale for fourth quarter 2011 was 2.65%, compared with 2.95% for fourth quarter 2010 and 3.16% for third quarter 2011. The weighted average yield on $287 million in available for sale securities acquired from Center was 1.86%, of which the Company sold $76 million, yielding approximately 1.23%, for net gains on sale of $235 thousand as a part of the fourth quarter balance sheet restructuring.

The weighted average cost of deposits for fourth quarter 2011 decreased 32 basis points to 0.71% from 1.03% for fourth quarter 2010 and decreased 17 basis points from 0.88% for third quarter 2011. The improvement in weighted average cost of deposits was driven primarily by reductions in the cost of time deposits and interest-bearing demand deposits, as well as a favorable shift in the mix of deposits following the merger. Non-interest bearing demand deposits accounted for 25% of total deposits at December 31, 2011, compared with 18% at December 31, 2010 and 20% at September 30, 2011.

The weighted average cost of FHLB advances for fourth quarter 2011 was 2.81%, a decrease of 53 basis points from 3.34% in fourth quarter 2010, and a decrease of 42 basis points from 3.23% for the third quarter 2011, largely reflecting the early retirement of $71.0 million in higher-rate advances, which resulted in a prepayment charge of $6.4 million.

Following are the weighted average rate data on a spot rate basis at December 31, 2011 and 2010:

Non-interest Income. Fourth quarter 2011 non-interest income was $6.7 million, compared with $4.3 million for both the fourth quarter 2010 and third quarter 2011. The increase was primarily due to the net gains on the sale of securities available for sale of $1.2 million in fourth quarter 2011.

Net gains on sale of SBA loans totaled $1.0 million, $720 thousand and $823 thousand for fourth quarter 2011, fourth quarter 2010 and third quarter 2011. During the fourth quarter 2011, the Company sold $14.3 million in SBA loans to the secondary market. As previously announced, the acquired Center SBA loan portfolio of approximately $84 million was marked up to fair value at November 30, 2011 and was transferred to loans held for investment.

Non-interest Expense. Fourth quarter 2011 non-interest expense was $31.8 million, representing an 82% increase over non-interest expense of $17.5 million for fourth quarter 2010 and up 89% from third quarter 2011. The increase primarily reflects higher costs associated with the combined operations of the former Nara and Center, the $6.4 million prepayment charge for early retirement of FHLB advances as part of a balance sheet restructuring strategy implemented during the fourth quarter, and merger-related expenses of $3.2 million.

Salaries and benefits expense amounted to $9.2 million for fourth quarter 2011, an increase of 28% compared with $7.2 million for fourth quarter 2010 and an increase of 20% compared with $7.7 million for third quarter 2011. The increase primarily reflects the inclusion of the former Center employees for the month of December 2011.

Occupancy expense for fourth quarter 2011 was $4.5 million, reflecting an 83% increase over $2.4 million for fourth quarter 2010 and an 80% increase over $2.5 million for third quarter 2011, principally reflecting the increase in the number of branches from 23 pre-merger to 44 post-merger.

The effective tax rate for the fourth quarter 2011 was 32.8%, compared with 37.4% for fourth quarter 2010 and 34.6% for third quarter 2011. The lower effective tax rate for fourth quarter 2011 reflects larger affordable housing tax credits in 2011 versus 2010, partially offset by larger non-deductible merger costs incurred in 2011 versus 2010.

Balance Sheet Summary

Gross loans receivable rose by $1.47 billion to $3.74 billion at December 31, 2011 from $2.27 billion at September 30, 2011 and principally reflects the addition of the acquired Center loan portfolio at fair value.

Total loan originations for fourth quarter 2011 were $157.2 million, including SBA loan originations of $33.3 million. On a pro forma basis, as if the two companies had operated as one for the full quarter, total loan originations would have amounted to $198.8 million, including SBA loan originations of $51.4 million. In comparison, new loan production by Nara Bancorp was $115.3 million during third quarter 2011 and $87.2 million in fourth quarter 2010.

The Company noted that sales of SBA loans to the secondary market and gains derived there from are based substantially on the production of 7(a) and Express loans. Production of SBA 7(a) and Express loans were $17.6 million for the quarter, or $27.8 million on a pro forma combined basis.

Aggregate loan pay-offs, pay-downs, amortization and other adjustments totaled $98.0 million during fourth quarter 2011, compared with $101.3 million during fourth quarter 2010 and $49.9 million during third quarter 2011.

Total deposits increased to $3.94 billion at December 31, 2011 from $2.27 billion at September 30, 2011. The increase reflects the addition of former Center's deposit balances, previously reported as $1.80 billion at September 30, 2011, partially offset by a strategic reduction of time deposits, including $100 million in brokered deposits and a $62 million runoff of higher rate retail CDs which were not renewed.

At December 31, 2011, non-interest bearing deposits more than doubled to $984.3 million from $454.8 million at September 30, 2011 and accounted for 25% of total deposits. This increase was principally the result of the merger.

Credit Quality

The Company recorded a provision for loan losses of $9.1 million in fourth quarter 2011, compared with $5.8 million in fourth quarter 2010 and $3.5 million in the third quarter 2011. The Company attributed the sequential quarter increase in the provision for loan losses to two main factors. First, one $7.9 million legacy commercial real estate (CRE) loan migrated to non-accrual status and required a $4.4 million specific reserve due to a decline in the collateral value. Second, $1.9 million in provision expense was required for valuation allowances on $74.4 million in loans acquired from Center. These loans were recorded at fair value at November 30, 2011 (with no valuation allowance held against them), matured during the month of December and were refinanced, thereby requiring general valuation allowances for those loans under generally accepted accounting principles.

The loan classification (i.e. Special Mention and Classified) does not change as a result of the fair value accounting on the acquired Center portfolio, and BBCN's loan balances for these categories as of December 31, 2011 reflect the inclusion of the acquired Center loans.

Following are the Special Mention, Classified and Total Watchlist loan balances as of September 30, 2011 and December 31, 2011:

Non-performing loans (defined as loans past due 90 days or more and on non-accrual status, acquired loans past due 90 days or more and on accrual status, and accruing restructured loans) at December 31, 2011 was $66.2 million, or 1.77% of total loans, compared with $51.3 million, or 2.26% of total loans, at September 30, 2011. The increase in the dollar amount of non-performing loans primarily was due to inclusion of acquired Center non-performing loans and one $7.9 million legacy CRE loan previously mentioned.

Non-performing assets at December 31, 2011 were $73.8 million, or 1.43% of total assets, compared with $56.2 million, or 1.86% of total assets, at September 30, 2011.

Net loan charge-offs during the 2011 fourth quarter totaled $7.2 million, or 1.03% of average loans on an annualized basis, compared with $3.2 million, or 0.56%, during the third quarter 2011. Gross charge-offs of $7.7 million resulted primarily from $3.9 million in loans either partially or fully charged-off and $3.8 million related to notes transferred to held-for-sale.

The allowance for loan losses at December 31, 2011 was $62.0 million, or 1.66% of gross loans receivable (excluding the guaranteed portion of delinquent SBA loans and loans held for sale), compared with $60.0 million, or 2.65%, at September 30, 2011. The coverage ratio of the allowance for loan losses to non-performing loans (excluding acquired loans past due 90 days or more on accrual status) increased to 124% at December 31, 2011, compared with 117% at September 30, 2011.

Impaired loans (defined as loans for which it is probable that not all principal and interest payments due will be collectible in accordance with the contractual terms) at December 31, 2011 were $82.1 million, compared with $75.6 million at September 30, 2011. None of the acquired Center loans were deemed to be impaired as of December 31, 2011 as a result of the fair value accounting.

Specific reserves for impaired loans were $18.0 million, or 22.0% of the aggregate impaired loan amount at December 31, 2011, compared with $14.6 million, or 19.3%, at September 30, 2011. The increase in specific reserves is largely due to the previously mentioned $7.9 million legacy CRE loan for which a $4.4 million specific reserve was established. Excluding specific reserves for impaired loans, the allowance coverage on the remaining loan portfolio was 1.20% at December 31, 2011, compared with 2.08% at September 30, 2011. This decrease is due primarily to the inclusion of the acquired Center portfolio at fair value.

Common Stock Offering

On October 31, 2011, the former Nara closed its public offering of common stock at a price of $7.25 per share for gross proceeds of $63.3 million, or approximately $59.7 million net proceeds after underwriting fees and estimated offering expenses. The Company sold a total of 8,724,475 shares of its common stock in the offering, including 7,586,500 primary shares and 1,137,975 additional shares from the underwriters' exercise of the over-allotment option.

Capital

At December 31, 2011, the Company continued to exceed the regulatory capital requirements to be classified as a “well-capitalized” institution. The Leverage Ratio was 19.49% at December 31, 2011, compared with 13.50% at September 30, 2011. The Tier 1 Risk-based Ratio was 17.74% at December 31, 2011, compared with 16.71% at September 30, 2011. The Total Risk-based Ratio was 18.99% at December 31, 2011, compared with 17.98% at September 30, 2011.

The calculation for the Leverage Ratio utilizes the daily average balance of total assets in the denominator, as opposed to the period end balances utilized in the calculation of the other capital ratios. Accordingly the leverage ratio is significantly impacted by the change in total asset balances during the quarter resulting from the merger. On a pro forma basis, utilizing the daily average balance of total assets in the month of December following the completion of the merger, the Leverage Ratio was 13.69%.

At December 31, 2011, tangible common equity represented 11.33% of tangible assets, compared with 10.40% of tangible assets at September 30, 2011. Tangible common equity per share was $7.38 at December 31, 2011, compared with $8.23 at September 30, 2011.

Tangible common equity to tangible assets is a non-GAAP financial measure that represents common equity less goodwill and net other intangible assets divided by total assets less goodwill and net other intangible assets. Management reviews tangible common equity to tangible assets in evaluating the Company's capital levels and has included this ratio in response to market participant interest in tangible common equity as a measure of capital. See the accompanying financial information for a reconciliation of the ratio of tangible common equity to tangible assets with stockholders' equity and total assets.

Investor Conference Call

The Company will host an investor conference call on Wednesday, February 8, 2012 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review complete financial results for the fourth quarter of 2011, including final purchase accounting adjustments, which will be announced after the market closes on Tuesday, February 7, 2012. Investors and analysts may access the conference call by dialing 800-299-9086 (domestic) or 617-786-2903 (international), passcode 61729487. Other interested parties are invited to listen to a live webcast of the call available at the Investor Relations section of BBCN Bancorp's website at www.BBCNbank.com.

After the live webcast, a replay will be archived in the Investor Relations section of BBCN Bancorp's website for one year. A telephonic replay of the call will be available at 888-286-8010 (domestic) or 617-801-6888 (international) through February 15, 2012, passcode 14972745.

About BBCN Bancorp, Inc.

BBCN Bancorp, Inc. is the parent company of BBCN Bank, the largest Korean American bank in the nation with $5.2 billion in assets as of December 31, 2011. The Company is a result of the merger of equals of Nara Bancorp, Inc. and Center Financial Corporation completed on November 30, 2011. Headquartered in Los Angeles and serving a diverse mix of customers mirroring its communities, BBCN operates 44 branches in California, New York, New Jersey, Washington and Illinois, along with three loan production offices in Seattle, Denver and Dallas. BBCN specializes in core business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and business lending, SBA lending and international trade financing. BBCN Bank is a California-chartered bank and its deposits are insured by the FDIC to the extent provided by law. BBCN is an Equal Opportunity Lender.

Forward-Looking Statements

This press release contains forward-looking statements, including statements about future operations and projected full-year financial results that are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward looking statements. These risks and uncertainties include but are not limited to economic, competitive, governmental and technological factors affecting the Company's operations, markets, products, services, and pricing. Readers should carefully review the risk factors and the information that could materially affect the Company's financial results and business, described in documents the Company files from time to time with the Securities and Exchange Commission, including its quarterly reports on Form 10-Q and Annual Reports on Form 10-K, and particularly the discussions of business considerations and certain factors that may affect results of operations and stock price set forth therein. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company undertakes no obligation to revise or publicly release the results of any revision to these forward-looking statements.

CONTACT:
BBCN Bancorp, Inc.
Investors and Financial Media:
Angie Yang
SVP, Investor Relations
213-251-2219
angie.yang@BBCNbank.com