LOS ANGELES, July 19, 2013 /PRNewswire/ -- B. Riley & Co., LLC (B. RILEY), (www.brileyco.com), a leading full service, independent investment bank, has acted as Financial Advisor to Saehan Bancorp (SAEB) in its $105.5 Million acquisition by Wilshire Bancorp. Inc. (WIBC).
Under the terms of the transaction announced July 15, 2013, Wilshire has agreed to acquire Saehan at $0.42 per share. The combined company will have approximately $3.5 billion in assets with 35 branches.
The transaction is expected to be completed by the end of 2013, after the fulfillment of certain customary conditions to closing, including the approval of shareholders of Saehan Bancorp and receipt of necessary regulatory approvals.
B. Riley's President John Ahn led the investment banking team on behalf of Saehan.
Saehan Bancorp is a bank holding company headquartered in Los Angeles, California. Its wholly owned subsidiary, Saehan Bank offers a comprehensive range of financial solutions to meet the needs of multi-ethnic communities.
Los Angeles-based Wilshire Bancorp is the parent company of Wilshire State Bank, a community bank which operates 25 branch offices in California, Texas, New Jersey and New York, and eight loan production offices in Dallas and Houston, TX, Atlanta, GA, Aurora, CO, Annandale, VA, Fort Lee, NJ, Newark, CA, and Bellevue, WA. It also is an SBA preferred lender nationwide. Wilshire State Bank is a community bank with a focus on commercial real estate lending and general commercial banking, with its primary market encompassing the multi-ethnic populations of the Los Angeles Metropolitan area.
About B. RILEY & CO.:
B. Riley & Co. is a leading independent investment bank which provides a full array of corporate finance, research, sales, trading and otcqx dad services to corporate, institutional and high net worth individual clients. Investment banking services include initial, secondary and follow-on offerings, institutional private placements, and merger and acquisitions advisory to public and private middle market companies. The firm is recognized for its distinguished equity research. Founded in 1997, B. RILEY is headquartered in Los Angeles and maintains offices in Newport Beach, San Francisco, Boston, and New York. It is a member of FINRA and SIPC. For more information, please visit www.brileyco.com
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