Exhibit 99.1

Nara Bancorp Reports Financial Results for Second Quarter 2011

Q2 2011 Summary:

• Net income of $0.14 per diluted common share
• Gross loans receivable increased $48.3 million during the quarter
• Non-performing assets declined 30% to $55.6 million from the prior quarter
• $25.6 million of problem loans sold during the quarter
• Net interest margin improved three basis points to 4.16% from the prior quarter
• Efficiency ratio improved to 46% from 50% in the prior quarter

LOS ANGELES--(BUSINESS WIRE)--July 25, 2011--Nara Bancorp, Inc. (the “Company”) (NASDAQ: NARA), the holding company of Nara Bank (the “Bank”), reported net income available to common stockholders of $5.2 million, or $0.14 per diluted common share, for the second quarter 2011, compared to net loss available to common stockholders of ($17.0) million, or ($0.45) per diluted common share, for the second quarter 2010, and net income available to common stockholders of $5.7 million, or $0.15 per diluted common share, for the first quarter 2011.

Alvin Kang, President and Chief Executive Officer, said, “We executed well on a number of key initiatives during the second quarter, which resulted in solid financial results. Our continued emphasis on building our commercial lending presence helped drive our highest level of loan production in six quarters, while also generating strong growth in core deposits from new commercial relationships. Our strong capital position also enabled us to accelerate our disposition of problem assets, which substantially improved our asset quality metrics. Non-performing assets to total assets declined to 1.87% from 2.70% at the prior quarter-end. We believe we can continue generating prudent balance sheet growth and making further improvement in our asset quality, which should enable us to continue being solidly profitable.”

Financial Highlights

Operating Results for Second Quarter 2011

Net Interest Income and Net Interest Margin. Second quarter 2011 net interest income before provision for loan losses was $29.3 million, an increase of 9% from second quarter 2010. The increase in net interest income was due primarily to an improvement in the net interest margin.

Second quarter 2011 net interest margin (net interest income divided by average interest-earning assets) increased 30 basis points to 4.16% from 3.86% for second quarter 2010. The improvement in the net interest margin was primarily due to lower rates paid on time deposits and interest-bearing demand deposits. The cost of time deposits decreased to 1.20% for second quarter 2011 from 1.49% for second quarter 2010. The cost of interest-bearing demand deposits also decreased to 0.87% for second quarter 2011 from 1.08% for second quarter 2010.

The weighted average yield on the loan portfolio for second quarter 2011 decreased 10 basis points to 6.07% from 6.17% for the same period last year. At June 30, 2011, fixed rate loans were 45% of the loan portfolio, compared to 51% at June 30, 2010, reflecting the emphasis on variable rate C&I lending. The weighted average yield on the variable rate and fixed rate loan portfolios (excluding loan discount accretion) at June 30, 2011 was 4.91% and 7.06%, respectively, compared to 4.76% and 7.19% at June 30, 2010.

The weighted average yield on securities available-for-sale for second quarter 2011 increased 65 basis points to 3.16% from 2.51% for the same period 2010. The increase was primarily attributable to a higher level of premium amortization for FNMA and FHLMC mortgage related securities in second quarter 2010. The higher level of premium amortization was due to accelerated prepayments resulting from the buyouts of seriously delinquent mortgage loans from the special purpose entities of FNMA and FHLMC.

The weighted average cost of deposits for second quarter 2011 decreased 26 basis points to 0.93% from 1.19% for the same period last year, driven primarily by the decrease in the cost of time deposits and interest-bearing demand deposits and the increase in the average balance of non-interest bearing demand deposits.

The weighted average cost of FHLB advances for second quarter 2011 decreased 19 basis points to 3.23% for second quarter 2011, compared to 3.42% for second quarter 2010, as maturing advances with higher rates were paid in full or refinanced at lower rates.

Following are the weighted average rate data on a spot rate basis at June 30, 2011 and 2010:

Second quarter 2011 net interest income before provision for loan losses increased $448 thousand, or 2%, from first quarter 2011. The increase was attributable to an improvement in the net interest margin, which increased 3 basis points. This was offset by a slight decrease of $6.5 million in average net interest earning assets from first quarter 2011. The increase in net interest margin resulted primarily from an increase in yield on securities available-for-sale and a reduction in the weighted average cost of interest-bearing liabilities.

Non-interest Income. Second quarter 2011 non-interest income was $7.7 million, an increase of $4.2 million, or 122%, compared to second quarter 2010. The increase was primarily due to an increase of $4.0 million in net gains on sales of SBA loans. Net gains on sale of SBA loans were $4.4 million for second quarter 2011, an increase of $4.0 million from $329 thousand for the same quarter of 2010. The increase reflected higher levels of SBA loan production and sales. Of the net gains of $4.4 million, $1.5 million was due to recognition of deferred gains from sales of $15.3 million in SBA loans during first quarter 2011, and $2.9 million was from sales of $31.7 million in SBA loans during second quarter of 2011.

Non-interest income increased $3.2 million, or 70%, from first quarter 2011. The increase was primarily due to the increase of $3.2 million in the net gains on sale of SBA loans.

Non-interest Expense. Second quarter 2011 non-interest expense was $16.9 million, an increase of $919 thousand, or 6%, from $16.0 million for the same period last year. The increase was primarily due to increases in salaries and benefits expense, partially offset by a decrease in credit related expense.

Salaries and benefits expense increased $1.6 million, or 28%, to $7.6 million for second quarter 2011, compared to $6.0 million for the same quarter of 2010. The increase is due to an increase in the number of full-time equivalent (FTE) employees, which increased to 369 at June 30, 2011 from 347 at June 30, 2010, an increase of $546 thousand in vacation and bonus accrual, an increase of $146 thousand in group insurance expense due to the increase in premium costs, and an increase of $141 thousand in 401(k) plan contributions, as the Company reinstated the company matching program effective January 1, 2011. The year-over-year increase in FTE employees was due to a number of factors including the opening of two new branches in our Eastern Region, the addition of business development and servicing staff, and increasing our staffing in Information Technology and Risk Management.

Credit related expense decreased $738 thousand, or 42%, to $1.0 million for second quarter 2011, compared to $1.7 million for the same period last year. The decrease was primarily due to higher OREO valuation allowances in second quarter 2010.

Income Taxes. The effective income tax provision (benefit) rate was 37%, (43%) and 41% for second quarter 2011 and 2010 and first quarter 2011, respectively. The lower provision rate for the second quarter 2011 and higher benefit rate for the second quarter of 2010 was due to the impact of tax credits.

Balance Sheet Summary

Gross loans receivable increased $48.3 million to $2.20 billion at June 30, 2011 from $2.15 million at March 31, 2011. New loan production was $116.1 million during second quarter 2011, compared to $88.1 million during first quarter 2011, and $102.4 million during second quarter 2010. Total loan pay-offs, pay-downs, amortization and other adjustments totaled $67.8 million during second quarter 2011, compared to $81.7 million during first quarter 2011 and $139.0 million during second quarter 2010.

Total deposits increased $56.1 million to $2.23 billion at June 30, 2011 from $2.18 billion at March 31, 2011. The increase was driven by $30 million growth in non-interest bearing demand deposits and $22 million growth in money market accounts.

Credit Quality

The Company recorded a provision for loan losses of $10.0 million in second quarter 2011, compared to $42.3 million for the same period of the prior year and $5.3 million in first quarter 2011. The larger provision for loan losses for second quarter 2011 compared to first quarter 2011 reflects an increase in problem loans sold at a discount in order to more quickly resolve problem loans.

During the second quarter 2011, the Company completed or entered into loan sale contracts totaling $25.6 million, compared to $2.7 million during the first quarter 2011. Loans totaling $10.5 million, against which the Company had a $2.8 million reserve, were sold in private transactions at a discount of 27% or $2.9 million. The remaining $15.1 million of loans, against which the Company had a $1.4 million reserve, were sold in a pool transaction at a discount of 52%, or $7.9 million. The larger discount on the loan pool sale was primarily due to diverse location, loan types and loan size. The Company determined that the sale of problem loans was a better alternative than holding such loans, which would have required a long workout period.

Total Watchlist loans, defined as Special Mention and Classified loans, were $137.1 million at June 30, 2011, a decrease from $168.5 million at March 31, 2011. Watchlist loans decreased $31.4 million primarily due to the sale of 21 loans totaling $23.9 million. Classified loans decreased to $121.7 million at June 30, 2011 from $147.2 million at March 31, 2011. Classified loans decreased $25.5 million primarily due to the sale of 16 loans totaling $18.2 million.

Total delinquent loans, 30 to 89 days past due, were $3.3 million at June 30, 2011, compared to $8.4 million at March 31, 2011. The decrease in early delinquencies was the result of $3.4 million in loans becoming current during the second quarter 2011.

Non-performing loans (loans past due 90 days or more and non-accrual loans) at June 30, 2011 were $35.4 million, or 1.62% of total loans, compared to $47.0 million, or 2.19% of total loans, at March 31, 2011. The decrease was primarily due to the sale of 11 non-performing loans totaling $11.0 million. Non-Performing loans including accruing TDR were $51.2 million, or 2.34% of total loans, compared to $76.4 million, or 3.57% of total loans, at March 31, 2011.

Non-performing assets at June 30, 2011 were $55.6 million, or 1.87% of total assets, compared to $79.1 million, or 2.70% of total assets, at March 31, 2011. The $23.5 million decrease in non-performing assets was due to an $11.6 million net reduction in non-accrual loans ($11.0 million of which was attributable to the loan sales) and a $13.6 million net reduction in accruing TDRs ($7.2 million of which was attributable to the loan sales). These reductions were offset by a slight increase in OREO assets. The coverage ratio of the allowance for loan losses to non-performing assets was 107% at June 30, 2011, compared to 80% at March 31, 2011.

Net loan charge-offs during the second quarter 2011 were $13.7 million, or 2.50% of average loans on an annualized basis, compared to $4.2 million, or 0.78%, during the first quarter 2011. Charge-offs of $10.4 million resulted from the discounts on loans sold. Excluding the loan sales, the net charge-offs would have been $3.3 million with an average individual loan net charge-off of $73 thousand during the quarter. CRE and C&I loan charge-offs were 89.4% and 10.8%, respectively, of total charge-offs.

The allowance for loan losses at June 30, 2011 was $59.7 million, or 2.73% of gross loans receivable (excluding the guaranteed portion of delinquent SBA loans and loans held for sale), compared to $63.3 million, or 2.96%, at March 31, 2011. The coverage ratio of the allowance for loan losses to non-performing loans increased to 169% at June 30, 2011, compared to 135% at March 31, 2011.

Impaired loans (defined as loans for which it is probable that not all principal and interest payments due will be collectible according to contractual terms) at June 30, 2011 were $76.2 million, a net decrease of $33.4 million from $109.6 million at March 31, 2011. This net decrease in impaired loans is primarily due to the sale of 16 impaired loans, totaling $18.2 million, and the return of eight loans totaling $10.0 million to non-impaired status. The return to non-impaired status was based on the review of current financial information and payment performance.

Specific reserves for impaired loans were $13.2 million, or 17.32% of the aggregate impaired loan amount at June 30, 2011, compared to $18.5 million, or 16.87%, at March 31, 2011. Excluding specific reserves for impaired loans, the allowance coverage on the remaining loan portfolio was 2.20% at June 30, 2011, compared to 2.21% at March 31, 2011.

Capital

At June 30, 2011, the Company continued to be in excess of the regulatory capital requirements to be classified as a “well-capitalized” institution. The Leverage Ratio was 13.32% at June 30, 2011, compared to 12.92% at March 31, 2011. The Tier 1 Risk-based Ratio was 16.42% at June 30, 2011, compared to 16.47% at March 31, 2011. The Total Risk-based Ratio was 17.69% at June 30, 2011, compared to 17.74% at March 31, 2011.

At June 30, 2011, tangible common equity represented 10.21% of tangible assets, compared to 10.08% of tangible assets at March 31, 2011. Tangible common equity per share was $7.94 at June 30, 2011, compared to $7.75 at March 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.

Conference Call and Webcast

A conference call with simultaneous webcast to discuss the Company's second quarter 2011 financial results will be held tomorrow, July 26, 2011 at 9:30 am Pacific / 12:30 pm Eastern. Interested participants and investors may access the conference call by dialing 877-941-0844 (domestic) or 480-629-9645 (international), conference ID# 4455968. There will also be a live webcast of the call available at the Investor Relations section of Nara Bank's web site at www.narabank.com.

After the live webcast, a replay will remain available in the Investor Relations section of Nara Bancorp's web site. A replay of the call will be available at 800-406-7325 (domestic) or 303-590-3030 (international) through August 3, 2011, conference ID# 4455968.

About Nara Bancorp, Inc.

Nara Bancorp, Inc. is the parent company of Nara Bank, which was founded in 1989. Nara Bank is a full-service community bank headquartered in Los Angeles, with 23 branches and one loan production office in the United States. Nara Bank operates full-service branches in California, New York and New Jersey, and a loan production office in Texas. Nara Bank was founded specifically to serve the needs of Korean-Americans. Presently, Nara Bank serves a diverse group of customers mirroring its communities. Nara Bank specializes in core business banking products for small and medium-sized companies, with an emphasis in commercial real estate and business lending, SBA lending and international trade financing. Nara Bank is a member of the FDIC and is an Equal Opportunity Lender.

Additional Information and Where to Find It

In connection with the proposed merger of Nara Bancorp, Inc. and Center Financial Corporation, we have filed a registration statement on Form S-4 (Registration No. 333-173511), and two amendments thereto with the Securities and Exchange Commission (“SEC”), that includes a joint proxy statement/prospectus of Nara Bancorp and Center Financial, as well as other relevant documents concerning the proposed merger. Stockholders are urged to read the registration statement and the joint proxy statement/prospectus regarding the merger and any other relevant documents filed with the SEC as well as any amendments or supplements to them, because they contain or will contain important information about the merger. You may obtain a free copy of the joint proxy statement/prospectus, as well as other filings containing information about Nara Bancorp and Center Financial at the SEC's Internet site (www.sec.gov). You may also obtain these documents, free of charge, from Nara at www.narabank.com under the tab “Investor Relations” and then under the heading “SEC Filings” or from Center Financial at www.centerbank.com under the tab “Investor Relations” and then under the heading “SEC Filings.”

Participants in Solicitation

Nara Bancorp, Center Financial and their respective directors, executive officers, management and employees may be deemed to be participants in the solicitation of proxies in respect of the merger. Information concerning Nara Bancorp's participants is set forth in its Form 10-K Annual Report filed with the SEC for the year ended December 31, 2010, as amended by Form 10-K/A filed with the SEC on April 26, 2011. Information concerning Center Financial's participants is set forth in its Form 10-K Annual Report filed with the SEC for the year ended December 31, 2010, as amended by Form 10-K/A filed with the SEC on April 29, 2011. Additional information regarding the interests of participants of Nara Bancorp and Center Financial in the solicitation of proxies in respect of the merger is included in the registration statement and joint proxy statement as amended and filed with the SEC.

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:
Financial Profiles, Inc
Tony Rossi, 310-478-2700 x13
trossi@finprofiles.com