Exhibit 99.1

BBCN Bancorp Reports Second Quarter 2012 Results

Q2 2012 Summary:

• $15.6 million net income available to common stockholders, or $0.20 per diluted common share
• Merger integration of all major systems and offices completed
• $122 million TARP fully redeemed with existing capital
• $137 million net increase in gross loans receivable, or 4% linked quarter
• $53 million increase in non-interest bearing deposits, or 5% linked quarter

LOS ANGELES--(BUSINESS WIRE)--July 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 $15.6 million, or $0.20 per diluted common share, for second quarter 2012. This compares with net income available to common stockholders of $5.2 million, or $0.14 per diluted common share, for second quarter 2011, and net income available to common stockholders of $22.1 million, or $0.28 per diluted common share, for first quarter 2012.

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

“The completion of the merger integration during the quarter marked a milestone achievement that positions BBCN for enduring growth as the leading Korean American bank in the nation,” said Alvin D. Kang, President and Chief Executive Officer. “Notwithstanding the tremendous company-wide effort required to complete the systems and office integrations, our front lines produced strong new loan originations that resulted in a 4% linked quarter increase in our loan portfolio, underscoring the strength of the new BBCN organization. We continued to focus on enhancing efficiencies, maintaining asset quality and improving our earnings power, and delivered pre-tax, pre-provision earnings of 3.03% for the quarter. While the overall economic and interest rate environment continues to present challenges, we believe we are well positioned with the integration and TARP redemption behind us to expand our franchise.”

Financial Highlights

The Company noted that the variance between net income and net income available to common stockholders in second quarter 2012 was significantly larger than in past quarters. In addition to regular quarterly dividends and discount accretion on TARP preferred stock, the Company incurred additional discount accretion of $1.9 million, equal to $0.02 per diluted common share, related to the TARP redemption on June 27, 2012.

Operating Results for Second Quarter 2012

As previously mentioned, the comparability of operating results with past performance 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 June 30, 2012, March 31, 2012 and June 30, 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 second quarter and first quarter 2012. 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. The following table summarizes the reported net interest income before provision for loan losses.

Second quarter 2012 net interest income before provision for loan losses rose 103% over second quarter 2011, principally due to the higher level of interest earning assets following the merger, as well as net interest margin improvement. Compared with first quarter 2012, net interest income before provision for loan losses declined 2%, primarily reflecting reduced levels of accretion of discount on the acquired portfolio relative to the preceding first quarter.

The net interest margin and the impact of acquisition accounting adjustments is summarized in the following table:

Second quarter 2012 net interest margin (net interest income divided by average interest-earning assets) was 5.02%, reflecting an 86 basis point improvement over second quarter 2011, largely attributable to the accretion of discounts on acquired loans. Excluding the effect of acquisition accounting adjustments, the core net interest margin for second quarter 2012 decreased 1 basis point to 4.15%. Compared with preceding first quarter, second quarter 2012 net interest margin declined 9 basis points, but improved 11 basis points on a core basis when excluding the effect of acquisition accounting. The increase, excluding the effect of acquisition accounting, is primarily due to an improvement in the cost of deposits and borrowings.

The weighted average yield on loans and the impact of acquisition accounting adjustments is summarized in the following table:

The weighted average yield on loans increased 46 basis points to 6.53% for second quarter 2012 from second quarter 2011, but declined 48 basis points, excluding the accretion of discounts on acquired loans from Center. The reduction in yield, excluding the effect of acquisition adjustments, is primarily attributed to the lower yielding acquired loan portfolio, and to a lesser extent, continued pricing pressures in the market place.

Compared with first quarter 2012, the weighted average yield on loans declined 22 basis points, and decreased 2 basis points, excluding the acquisition accounting adjustments. The decrease, excluding the acquisition accounting adjustments, reflects continuing pricing pressures in the market place.

The composition of fixed and variable rate loans and the associated weighted average yield, excluding loan discount accretion, is summarized in the following table:

The declining composition of fixed rate loans as a percentage of total loans reflects the Company's focus on variable rate business loans.

The weighted average yield on securities available for sale is summarized in the following table:

The weighted average yield on securities available-for-sale for second quarter 2012 declined 71 basis points from second quarter 2011 and 26 basis points from first quarter 2012. The reductions are primarily attributable to the replacement of maturing securities with lower yielding investments as market interest rates declined, as well as the impact of acquisition accounting.

The weighted average duration and average life of the securities available-for-sale is summarized in the following table:

The weighted average cost of deposits and the impact of acquisition accounting adjustments are summarized in the following table:

The weighted average cost of deposits for second quarter 2012 was 0.55%, improving 38 basis points from second quarter 2011 and 1 basis point from first quarter 2012. Excluding the amortization of premium on time deposits assumed in the Center merger, the weighted average cost of deposits for second quarter 2012 decreased 30 basis points from second quarter 2011 and 6 basis points from first quarter 2012.

In addition to the acquisition accounting adjustments, the second quarter 2012 weighted average cost of deposits benefited from overall reductions in the cost of interest-bearing demand deposits, as well as a favorable shift in the mix of deposits with higher concentrations of non-interest bearing demand deposits. Non-interest bearing demand deposits accounted for 27% of total deposits at June 30, 2012, compared with 19% at June 30, 2011 and 26% at March 31, 2012.

The weighted average cost of FHLB advances and the impact of acquisition accounting adjustments are summarized in the following table:

For second quarter 2012, the weighted average cost of FHLB advances decreased 128 basis points to 1.95% from second quarter 2011, largely due to the amortization of premiums on acquired FHLB borrowings. Excluding acquisition accounting adjustments, the weighted average cost of FHLB advances decreased 15 basis points, reflecting the addition of $105.0 million in new FHLB borrowings at a rate of 0.76%, which is substantially lower than the weighted average rate of the rest of the borrowings. The weighted average original maturity of the new borrowings was 3.67 years. In addition, a total of $65.1 million of FHLB borrowings with weighted average rates of 0.57% matured during the quarter and were paid off.

Compared with the preceding first quarter, the weighted average cost of FHLB advances increased 3 basis points, but decreased 33 basis points, excluding acquisition accounting adjustments.

Non-interest Income. Second quarter 2012 non-interest income increased to $10.2 million from $7.7 million for second quarter 2011, reflecting operations as a combined Company, partially offset by a $1.9 million reduction in net gains on sale of SBA loans from the prior-year period.

Compared with first quarter 2012, non-interest income declined $1.3 million and is largely attributed to the variance in gains on sales.

The various net gains (losses) on sales are summarized in the following table:

Non-interest Expense. Second quarter 2012 non-interest expense rose 84% to $31.1 million from $16.9 million for second quarter 2011, largely reflecting the combined operations of the new BBCN. Second quarter 2012 non-interest expense increased 2% from $30.4 million for first quarter 2012.

Salaries and benefits expense totaled $14.7 million for second quarter 2012, an increase of 92% over $7.6 million for second quarter 2011, and an increase of 4% over $14.1 million for first quarter 2012. The significant increase over second quarter 2011 reflects the combined operations as BBCN. The number of full time equivalent employees (FTEs) was 653, 661 and 369 as of June 30, 2012, March 31, 2012 and June 30, 2011, respectively. The FTEs as of June 30, 2011 on a pro forma basis was 682. The adjusted number of FTEs as of the merger closing date of November 30, 2011 was 690. Notwithstanding a slight decrease in FTEs from March 31, 2012, salaries and benefits expense increased modestly, reflecting annual salary increases, as well as higher vacation and bonus accruals.

Occupancy expense for second quarter 2012 rose 73% to $4.2 million from $2.4 million for second quarter 2011, primarily reflecting the combined number of branches post-merger. Occupancy expense rose $586,000 over the $3.6 million for first quarter 2012, and is partially attributed to a $375,000 non-recurring expense associated with the renegotiation of a sub-lease.

The FDIC assessment for second quarter 2012 amounted to $51,000, compared with $877,000 for second quarter 2011 and $1.0 million for the preceding first quarter 2012. The significant decline is attributed to the recognition of a $650,000 assessment rate reduction for fourth quarter 2011 as a result of an upgrade of the Company's risk category. The Company noted that the FDIC assessment is primarily based on assets and expects it will be approximately $1.0 million for third quarter 2012.

The Company noted that its Other non-interest expense line item for second quarter 2012 included a $461,000 loss incurred on the early retirement of a $10.0 million Trust Preferred security, bearing a 10.18% interest rate.

The effective tax rate for second quarter 2012 was 38.5%, compared with 37.3% for second quarter 2011 and 39.4% for first quarter 2012.

Balance Sheet Summary

Gross loans receivable totaled $3.87 billion at June 30, 2012, an increase of 4% compared with $3.74 billion at March 31, 2012 and December 31, 2011. Total loan originations for second quarter 2012 amounted to $241.5 million, including SBA loan originations of $67.1 million. In comparison, new loan production during first quarter 2012 equaled $167.6 million, including SBA loan originations of $34.6 million.

Sales of SBA loans to the secondary market and gains derived from those sales are based substantially on the production of SBA 7(a) loans. Production of SBA 7(a) loans amounted to $49.8 million for second quarter 2012, compared with $31.2 million for first quarter 2012.

Aggregate loan pay-offs, pay-downs, amortization and other adjustments totaled $107.3 million during second quarter 2012, compared with $64.2 million during second quarter 2011 and $169.6 million during first quarter 2012. The Company noted the level of pay-offs and pay-downs were unusually high during the first quarter 2012.

Total deposits decreased to $3.88 billion at June 30, 2012 from $3.92 billion at March 31, 2012 and $3.94 billion at December 31, 2011, reflecting reductions in MMA accounts and a continued run-off of higher rate non-jumbo time deposits, offset by growing balances of non-interest bearing deposits. The mix of deposits continued to shift favorably with non-interest bearing deposits at June 30, 2012 increasing to $1.06 billion, or 27% of total deposits, from $1.01 billion, or 26% of total deposits, at March 31, 2012.

Credit Quality

The Company recorded a provision for loan losses of $7.2 million in second quarter 2012, compared with $10.0 million in second quarter 2011 and $2.6 million in the preceding first quarter 2012. The increase in the provision for loan losses compared with first quarter 2012 was primarily attributable to loan loss allowances for the strong new loan originations during the quarter that resulted in a net $137.4 million increase in loans outstanding, for refinanced acquired loans, and for further degradation in acquired credit impaired loans.

For a more detailed understanding of the changes in the Allowance for Loan and Lease Losses (“ALLL”), the composition of the ALLL has been segmented for disclosure purposes between loans accounted for under the amortized cost method (referred to as “BBCN” loans) and loans acquired in the Center merger (referred to as “Acquired” loans). The acquired loans are further segregated between performing and credit impaired loans. The composition of ALLL for the three months ended June 30, 2012, March 31, 2012 and December 31, 2011 is as follows:

Following are the Special Mention, Classified and Total Watchlist loan balances as of June 30 and March 31, 2012:

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 June 30, 2012 were $83.3 million, or 2.15% of total loans, compared with $81.9 million, or 2.19% of total loans, at March 31, 2012. The modest increase in the dollar amount of non-performing loans reflects increases in delinquent loans 90 days or more past due, but which are still on accrual status in accordance with acquisition accounting rules, partially offset by decreases in accruing restructured loans.

Non-performing assets at June 30, 2012 were $90.0 million, or 1.78% of total assets, compared with $87.6 million, or 1.69% of total assets, at March 31, 2012, due principally to the increase in non-performing loans.

Net loan charge-offs during second quarter 2012 totaled $4.0 million, or 0.41% of average loans on an annualized basis, compared with $2.2 million, or 0.24%, during first quarter 2012.

The allowance for loan losses at June 30, 2012 was $65.5 million, or 1.69% of gross loans receivable (excluding loans held for sale), compared with $62.3 million, or 1.67%, at March 31, 2012. The increase primarily reflects the increase in the allowance for loan losses due to new loan growth and for refinanced acquired loans. 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 105% at June 30, 2012, from 98% at March 31, 2012.

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 June 30, 2012 and March 31, 2012 were $91.4 million and $99.8 million, respectively.

Specific reserves for impaired loans were $13.2 million, or 14.4% of the aggregate impaired loan amount at June 30, 2012, compared with $16.5 million, or 16.5%, at March 31, 2012. The decrease in specific reserves largely reflects charge-offs, pay downs and pay offs. Excluding specific reserves for impaired loans, the allowance coverage on the remaining loan portfolio was 1.38% at June 30, 2012, compared with 1.26% at March 31, 2012. This increase is due primarily to additions to the allowance for new loan growth and for acquired loans as they experience credit deterioration or are refinanced or renewed and are categorized as part of the BBCN portfolio.

Capital

As previously announced, BBCN redeemed $122 million of Series A and Series B Preferred Stock issued under the U.S. Treasury's TARP Capital Purchase Program on June 27, 2012. The redemption covered the total combined preferred stock investment by the U.S. Treasury of $67 million in the former Nara Bancorp, Inc. and $55 million in the former Center Financial Corporation. The Company has entered into negotiations to repurchase all 858,746 BBCN warrants held by the Treasury.

At June 30, 2012, the Company continued to exceed all regulatory capital requirements to be classified as a “well-capitalized” institution, as summarized in the following table.

Tangible common equity per share and as a percentage of tangible assets improved over prior comparable periods, as summarized in the following table:

Investor Conference Call

The Company will host an investor conference call on Tuesday, July 24, 2012 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review financial results for second quarter 2012. Investors and analysts may access the conference call by dialing 800-706-7749 (domestic) or 617-614-3474 (international), passcode 95149564. 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 July 31, 2012, passcode 42573151.

About BBCN Bancorp, Inc.

BBCN Bancorp, Inc. is the parent company of BBCN Bank, the largest Korean American bank in the nation with $5.1 billion in assets as of June 30, 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 four loan production offices in Seattle, Denver, Dallas and Atlanta. 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:
Investors and Financial Media:
BBCN Bancorp, Inc.
Angie Yang
SVP, Investor Relations
213-251-2219
angie.yang@BBCNbank.com