U.S. Markets closed

Pacific City Bank Announces New Board Member


Pacific City Financial Corporation (the “Company”) (PFCF), the holding company of Pacific City Bank, today announced the appointment of Daniel Cho to Pacific City Bank’s Board of Directors effective April 1, 2017. Mr. Cho is a former banker and the founder of Banker’s Toolbox with over 28 years of experience in the financial industry. Banker’s Toolbox is an industrial leader in Bank Secrecy Act, Anti-Money Laundering, and fraud prevention software solution with over 750 customers in financial institutions. Mr. Cho left Banker’s Toolbox after taking a majority investment from a private equity firm in 2016 and is currently working on another Fintech startup Maya Tech.

“Mr. Cho is a highly accomplished entrepreneur and a financial institution expert in BSA/AML/fraud and Information Technology,” said Kwang Jin Chung, Chairman of the Board. “We welcome Mr. Cho’s expertise and his unique understanding of the compliance, risk management, and technology challenges the community and regional financial institutions are experiencing provides a tremendous opportunity to contribute to our Bank.” Mr. Cho, age 52, holds a BA degree in Economics from UC Berkeley and resides in Los Angeles.

About Pacific City Financial Corporation

Headquartered in Los Angeles, California, Pacific City Financial Corporation is the parent company of Pacific City Bank, a full-service commercial bank with twelve branch offices and eight loan production offices in Lynwood and Bellevue, Washington; Denver, Colorado, Chicago, Illinois; Annandale, Virginia; Atlanta, Georgia; Orange County, California; and Bayside, New York. Pacific City Bank specializes in commercial banking for small to medium-size businesses by providing commercial real estate loans, small business loans and lines of credit, trade finance loans, auto loans, residential mortgage loans, and SBA loans. Pacific City Bank serves a diverse customer base through its branches in the Greater Los Angeles Area and Fort Lee, New Jersey and its Loan Production Offices in seven States.

Safe Harbor Statement

This press release may contain forward-looking statements that are subject to risks and uncertainties that could cause actual results to differ materially from the projected, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.”

View source version on businesswire.com: http://www.businesswire.com/news/home/20170327006245/en/