Exhibit 99.1

BBCN Bancorp Reports Strong First Quarter 2012 Earnings

Q1 2012 Summary:

• $22.1 million net income available to common stockholders, or $0.28 per diluted common share
• Core pre-tax, pre-provision earnings greater than 2.50%
• ROA of 1.86%
• Tangible common equity to tangible assets of 11.84%

LOS ANGELES--(BUSINESS WIRE)--April 23, 2012--BBCN Bancorp, Inc. (the “Company”) (NASDAQ:BBCN), the holding company of BBCN Bank (the “Bank”), today reported net income available to common stockholders of $22.1 million, or $0.28 per diluted common share, for first quarter 2012. This compares with net income available to common stockholders of $5.7 million, or $0.15 per diluted common share, for first quarter 2011, and net income available to common stockholders of $2.9 million, or $0.05 per diluted common share, for fourth quarter 2011.

The merger with Center Financial Corporation (“Center”), completed on November 30, 2011, impacts the comparability of operating results for first quarter 2012 versus first quarter 2011 and fourth quarter 2011. The Company has provided supplemental information to help in understanding past financial performance.

“We are very pleased to continue the positive momentum following the merger with strong pre-tax, pre-provision earnings for our first full quarter as a combined entity,” said Alvin D. Kang, President and Chief Executive Officer. “On a core basis, our pre-tax, pre-provision earnings before the positive effects of acquisition accounting was greater than 2.50%, which exceeds the recent stand-alone performances of both Nara and Center. Our first quarter results were driven by solid revenue generation, disciplined expense control and low credit costs. Although loan production was lower than we expected in the first quarter, we were pleased with our continued progress in attracting new commercial customers to the Bank, which positively impacted both our C&I portfolio and our core deposits.

“We are preparing for the final stages of completing the systems conversion in early May and look forward to further enhancing efficiencies following our branch and headquarter consolidations later in the quarter. With good progress being made on the integration process and a stronger loan pipeline for the second quarter, we are optimistic about our prospects for the remainder of 2012.”

Financial Highlights

Operating Results for First Quarter 2012

As previously mentioned, the comparability of operating results is impacted by the merger. The Company believes the following supplemental information will be helpful in understanding past financial performance. Operating results for the three months ended March 31, 2012 and 2011 and December 31, 2011 include the following pre-tax acquisition accounting adjustments and expenses related to the merger.

The increase (decrease) of these adjustments to pre-tax income is summarized below. The impact which these adjustments have to certain yields and costs are described in subsequent sections of this release.

In addition to the items listed above, acquisition accounting adjustments had the effect of reducing the yield on the securities portfolio in first quarter 2012 and fourth quarter 2011. The acquired Center securities portfolio of approximately $290 million was adjusted to fair value of $293 million as of the merger date, resulting in interest income on investment securities for that portfolio being recognized at a lower average yield, compared with the yield on the balance of the Company's securities portfolio.

Net Interest Income and Net Interest Margin. First quarter 2012 net interest income before provision for loan losses was $60.9 million, an increase of 111% from $28.9 million in first quarter 2011 and is principally attributable to the higher level of interest earning assets, as well as the net interest margin improvement, following the merger. Compared with the preceding fourth quarter 2011, net interest income before provision for loan losses increased 50% from $40.6 million, reflecting a full quarter, versus only one month, of operations as a combined company.

First quarter 2012 net interest margin (net interest income divided by average interest-earning assets) was 5.11%, an increase of 98 basis points from 4.13% for first quarter 2011 and up 59 basis points from 4.52% in fourth quarter 2011. The improvement in net interest margin is largely attributable to the effect of acquisition accounting adjustments, as summarized in the following table.

Excluding the effect of acquisition accounting adjustments, the net interest margin for first quarter 2012 was 4.04%, 9 basis points lower compared with first quarter 2011 and 9 basis point lower than fourth quarter 2011.

The weighted average yield on loans increased to 6.75% for first quarter 2012 from 6.19% for first quarter 2011 and 6.30% for fourth quarter 2011. The increase in the yield is largely attributable to the accretion of discounts on acquired loans from Center, as summarized in the following table.

Excluding the accretion of discounts on acquired loans from Center, the weighted average yield on loans for first quarter 2012 was 5.61%, down 58 basis points from first quarter 2011 and down 26 basis points from fourth quarter 2011. The reduction in yield, excluding the effect of acquisition adjustments, is primarily due to the lower yielding Center loan portfolio, and to a lesser extent, continued pricing pressures in the market place.

At March 31, 2012, fixed rate loans accounted for 39% of the loan portfolio, compared with 46% at March 31, 2011, reflecting the Company's focus on variable rate commercial lending. The weighted average yield on the variable rate and fixed rate loan portfolios (excluding loan discount accretion) at March 31, 2012 was 4.61% and 6.49%, respectively, compared with 4.82% and 7.12% at March 31, 2011.

The weighted average yield on securities available for sale for first quarter 2012 was 2.71%, compared with 2.99% for first quarter 2011 and 2.65% for fourth quarter 2011. The improvement in yield for the first quarter of 2012 over the prior quarter was due to slower prepayment speeds within the portfolio, which reduced the negative impact of premium amortization. The decline in yield from first quarter 2011 was the result of the replacement of maturing securities with lower yield investments as market interest rates declined and the impact of acquisition accounting.

The weighted average cost of deposits for first quarter 2012 was 0.56%, an improvement of 40 basis points from 0.96% for first quarter 2011, and a reduction of 15 basis points from 0.71% for fourth quarter 2011. The amortization of premium on time deposits assumed in the Center merger positively affected the weighted average cost of deposits, as summarized in the following table.

Excluding amortization of premium on time deposits assumed in the Center merger, the weighted average cost of deposits was 0.69% for first quarter 2012, compared with 0.75% for fourth quarter 2011. The improvement was driven by reductions in the cost of interest-bearing demand deposits, as well as a favorable shift in the mix of deposits to higher concentrations of non-interest bearing demand deposits. Non-interest bearing demand deposits accounted for 26% of total deposits at March 31, 2012, compared with 19% at March 31, 2011 and 25% at December 31, 2011.

The weighted average cost of FHLB advances for first quarter 2012 was 1.92%, a decrease of 129 basis points from 3.21% in first quarter 2011, and a decrease of 89 basis point from 2.81% in fourth quarter 2011. The significant improvement was attributable to the amortization of premiums on Center FHLB borrowings, as summarized in the following table.

Excluding amortization of premiums on assumed Center FHLB borrowings, the weighted average cost of FHLB advances increased slightly to 3.41% for first quarter 2012 from 3.32% for fourth quarter 2011. The increase is attributable to higher rates on the assumed Center FHLB borrowings in relation to the Company's legacy rates.

Non-interest Income. First quarter 2012 non-interest income was $11.6 million, compared with $4.5 million for first quarter 2011 and $6.7 million for fourth quarter 2011. The increase in non-interest income is primarily attributable to a full quarter of operations as a combined Company following the merger.

Net gains on sales of SBA loans totaled $3.0 million, $1.2 million and $1.0 million for first quarter 2012, first quarter 2011 and fourth quarter 2011. The Company sold $33.4 million in SBA loans to the secondary market during first quarter 2012.

The Company posted a net gain on sale of securities available-for-sale of $816 thousand in first quarter 2012. This compares with none in first quarter 2011 and $1.2 million in fourth quarter 2011. The Company was able to sell a relatively illiquid trust preferred security which had been marked to market in a prior period.

Non-interest Expense. First quarter 2012 non-interest expense rose 82% to $30.4 million from $16.7 million for first quarter 2011, largely reflecting the combined operations of the new BBCN. First quarter 2012 non-interest expense decreased 4% from $31.8 million for fourth quarter 2011. Non-interest expense for fourth quarter 2011, excluding the $6.4 million prepayment charge for early retirement of FHLB advances during fourth quarter of 2011, was $25.5 million.

Salaries and benefits expense amounted to $14.1 million for first quarter 2012, an increase of 97% over $7.2 million for first quarter 2011, and an increase of 53% over $9.2 million for the preceding fourth quarter 2011. The increase reflects the first full quarter of combined operations as BBCN and the inclusion of the former Center employees for only one month in fourth quarter 2011. The number of full time equivalent employees (FTEs) was 661, 678 and 376 as of March 31, 2012, December 31, 2011 and March 31, 2011, respectively. The adjusted number of FTEs as of the merger closing date of November 30, 2011 was 690.

Occupancy expense for first quarter 2012 rose 50% to $3.6 million from $2.4 million for first quarter 2011 due to the increase in the number of branches post-merger, but was lower when compared with $4.5 million for fourth quarter 2011, which included a non-recurring one-time lease termination expense of $1.5 million.

The effective tax rate for first quarter 2012 was 39.4%, compared with 41.0% for first quarter 2011 and 32.2% for fourth quarter 2011. The lower effective tax rate for fourth quarter 2011 was due to larger affordable housing tax credits, primarily offset by larger non-deductible merger costs incurred during the quarter.

Balance Sheet Summary

Gross loans receivable were relatively flat at $3.74 billion at March 31, 2012 and December 31, 2011. Total loan originations for first quarter 2012 amounted to $167.6 million, including SBA loan originations of $34.6 million. In comparison, new loan production during fourth quarter 2011 would have been $198.8 million, including SBA loan originations of $51.4 million, on a pro forma basis, as if the two companies had operated as one for the full quarter. The volume reflects the historical lower volume seasonal trend in the first quarter, in addition to strong competition for loans.

Sales of SBA loans to the secondary market and gains derived from those sales are based substantially on the production of SBA 7(a) and Express loans. Production of SBA 7(a) and Express loans were $31.2 million for the quarter.

Aggregate loan pay-offs, pay-downs, amortization and other adjustments totaled $169.6 million during first quarter 2012, compared with $81.7 million during first quarter 2011 and $98.0 million during fourth quarter 2011.

The goodwill arising from the Center merger was reduced by a net $565 thousand to $87.4 million, due to adjustments of certain acquisition date fair value asset and liability estimates during first quarter 2012. There are a number of estimates made in the acquisition accounting as of the acquisition date that may be subject to revision during the subsequent one-year measurement period. Due to the immateriality of the revision amount, the Company elected not to retrospectively adjust the acquisition date accounting and instead record the adjustments in first quarter 2012.

Total deposits fell slightly to $3.92 billion at March 31, 2012 from $3.94 billion at December 31, 2011, principally reflecting a strategic runoff of higher rate non-jumbo time deposits. The mix of deposits continued to shift favorably with non-interest bearing deposits at March 31, 2012 increasing to $1.01 billion, equal to 26% of total deposits, from $984.4 million, equal to 25% of total deposits, at December 31, 2011.

Credit Quality

The Company recorded a provision for loan losses of $2.6 million in first quarter 2012, a reduction from $5.3 million in first quarter 2011, and $9.1 million in the preceding fourth quarter 2011. The decline in the provision for loan losses was attributable to a reduction in net charge-offs and a declining historical loss ratio.

For a better understanding of the changes in the Allowance for Loan and Lease Losses (“ALLL”), the loan portfolio has been segmented for disclosure purposes between loans accounted for under the amortized cost method (referred to as “legacy” loans) and loans acquired in the Center merger (referred to as “acquired” loans). The acquired loans are further segregated between credit impaired loans (Accounting Standards Codification 310-30) and performing loans (pass graded loans acquired from Center at the time of merger). The activity in ALLL for the three months ended March 31, 2012 is as follows:

Following are the Special Mention, Classified and Total Watchlist loan balances as of March 31, 2012 and December 31, 2011:

⁽¹⁾ Balances include the acquired Center which were marked to fair value at November 30, 2011. For loan classification purposes, the loan grading did not change as a result of the merger.

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 March 31, 2012 was $81.9 million, or 2.19% of total loans, compared with $66.2 million, or 1.77% of total loans, at December 31, 2011. The increase in the dollar amount of non-performing loans primarily reflects three commercial real estate (CRE) loans, aggregating $9.9 million, which were placed on non-accrual status and three loans, two CRE and one C&I, totaling $5.4 million, which were restructured.

Non-performing assets at March 31, 2012 were $87.6 million, or 1.69% of total assets, compared with $73.8 million, or 1.43% of total assets, at December 31, 2011, due principally to the increase in non-performing loans.

Net loan charge-offs during first quarter 2012 totaled $2.2 million, or 0.24% of average loans on an annualized basis, compared with $7.2 million, or 1.03%, during fourth quarter 2011. Gross charge-offs of $3.4 million included a $1.7 million partial charge-off related to the restructuring of a $7.9 million CRE loan discussed in the prior quarter.

The allowance for loan losses at March 31, 2012 was $62.3 million, or 1.67% of gross loans receivable (excluding loans held for sale), compared with $62.0 million, or 1.66%, at December 31, 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) decreased to 98% at March 31, 2012, from 124% at December 31, 2011, reflecting the inflow of non-performing acquired CRE loans that had previously been marked to fair value and therefore required less specific reserves.

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 March 31, 2012 were $99.8 million, compared with $82.1 million at December 31, 2011. The increase in impaired loans was due principally to the three non-accrual CRE loans and three restructured loans previously mentioned.

Specific reserves for impaired loans were $16.5 million, or 16.5% of the aggregate impaired loan amount at March 31, 2012, compared with $18.0 million, or 22.0%, at December 31, 2011. The decrease in specific reserves is largely due to the restructuring of the $7.9 million CRE loan previously mentioned. Excluding specific reserves for impaired loans, the allowance coverage on the remaining loan portfolio was 1.26% at March 31, 2012, compared with 1.20% at December 31, 2011. This increase is due primarily to rebuilding of general reserves for acquired loans as they experience credit deterioration or are refinanced or renewed and are categorized as part of the legacy portfolio.

Capital

At March 31, 2012, the Company continued to exceed all regulatory capital requirements to be classified as a “well-capitalized” institution. The Leverage Ratio was 15.03% at March 31, 2012, compared with 19.81% at December 31, 2011. The Tier 1 Risk-based Ratio was 18.75% at March 31, 2012, compared with 18.15% at December 31, 2011. The Total Risk-based Ratio was 20.01% at March 31, 2012, compared with 19.41% at December 31, 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 Company believes that the Leverage Ratio reported for the fourth quarter 2011 is not necessarily representative of the Company's Leverage Ratio at the end of 2011. 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 14.00%.

At March 31, 2012, tangible common equity represented 11.84% of tangible assets, compared with 11.42% of tangible assets at December 31, 2011. Tangible common equity per share was $7.72 at March 31, 2012, compared with $7.43 at December 31, 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 Tuesday, April 24, 2012 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review financial results for first quarter 2012. Investors and analysts may access the conference call by dialing 800-798-2796 (domestic) or 617-614-6204 (international), passcode 36603587. 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 May 1, 2012, passcode 76634927.

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 March 31, 2012. 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 more than 40 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.
Angie Yang
SVP, Investor Relations
213-251-2219
angie.yang@BBCNbank.com