BBCN Bank completes repurchase of outstanding warrant for $2.2M

BBCN Bancorp announced that it has completed the repurchase of an outstanding warrant held by the U.S. Department of the Treasury for a purchase price of $2.2M. The Warrant was issued on November 21, 2008 by BBCN's predecessor company, Nara Bancorp and entitled the Treasury to purchase 521,266 shares of BBCN common stock at an exercise price of $9.64 per share. BBCN has not reached agreement with the Treasury regarding repurchase of the outstanding Center warrant for the purchase of 337,480 shares of the Company's common stock that was issued in connection with the merger, at an exercise price of $12.22 per share.