Exhibit 99.1

Wilshire Bancorp Reports Net Income of $11.6 Million or

$0.16 Earnings per Share for First Quarter 2013

LOS ANGELES, April 22, 2013 - Wilshire Bancorp, Inc. (NASDAQ: WIBC) (the “Company”), the holding company for Wilshire State Bank (the “Bank”), today reported net income available to common shareholders of $11.6 million, or $0.16 per diluted common share, for the quarter ended March 31, 2013.  This compares to net income available to common shareholders of $17.9 million, or $0.25 per common share, for the same period of the prior year, and net income of $15.2 million, or $0.21 per common share, for the fourth quarter of 2012.

Pre-tax, pre-provision income (PTPP)* was $17.0 million for the first quarter of 2013, compared with $16.1 million in the first quarter of 2012, and $11.6 million in the fourth quarter of 2012.

Jae Whan (J.W.) Yoo, President and CEO of Wilshire Bancorp, said, “Our first quarter results reflect the strong core earnings power of the Company, as we generated an annualized return on average assets of 1.70% and an annualized return on average equity of 13.3%.  We also showed solid growth in both revenue and pre-tax, pre-provision income over the first quarter of 2012.  While overall loan growth remains challenging given the intense competition for quality loans, we are pleased with our continued progress in developing more commercial lending relationships.  We originated $55 million of commercial loans during the first quarter of 2013 — our highest level in several years — and also saw significant inflows of demand deposits from new commercial customers.  We also continue to see steady improvement in asset quality, which has kept our credit costs low.

“We continue to have a very strong capital position and our operations are generating additional capital each quarter.  Accordingly, we have initiated a more active capital management plan designed to both invest in the growth of our franchise and return excess capital to shareholders.  The first step in this plan was the authorization of a program to repurchase up to 5% of our outstanding common shares.  We are actively evaluating other uses for our capital including but not limited to the potential reinstatement of a common stock dividend, investments in de novo branches, and strategic acquisitions.  We are optimistic that our more active capital management plan will create additional value for shareholders going forward,” said Mr. Yoo.

* PTPP is a Non-GAAP measure of financial performance.  Please refer to the “Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures” table at the end of this press release for a reconciliation of PTPP to net income

Q1 2013 Summary:

·                  Net income available to common shareholders totaled $11.6 million or $0.16 per diluted common share

·                  Total revenue of $34.3 million, an increase of 5.8% from the Q4 2012 and 11.1% from the Q1 2012

·                  Return on average assets of 1.70%; return on average equity of 13.3%

·                  Operating efficiency ratio reduced to 50.5% for Q1 2013, compared to 64.1% for Q4 2012

·                  Loans receivable totaled $2.05 billion at March 31, 2013, an increase of 2.0% from $2.01 billion at December 31, 2012

·                  Non-accrual loans reduced 10.3% and classified loans reduced 6.2% in Q1 2013 compared to Q4 2012

·                  Continued improvement in credit quality resulted in no provision for losses on loans and loan commitments for Q1 2013

·                  Board of Directors authorized repurchase of up to 5% of outstanding common stock

STATEMENT OF OPERATIONS

Net Interest Income and Margin

Net interest income before credit for losses on loans and loan commitments totaled $25.6 million for the first quarter of 2013, an increase of 4.6% from $24.4 million for the first quarter of 2012, and unchanged from the fourth quarter of 2012.  The increase from the prior year was primarily due to a reduction in interest expense on deposits.

Net interest margin was 4.09% for the first quarter of 2013, compared to 4.07% in the first quarter of 2012, and 4.33% for the fourth quarter of 2012. The decrease in net interest margin from the fourth quarter of 2012 was primarily due to lower yields on loans, partially offset by a reduction in the cost of deposits.

Loan yields decreased to 5.21% for the first quarter of 2013 from 5.54% for the fourth quarter of 2012 due to new loans that were originated at rates that were lower than that of the existing portfolio, as a result of the low interest rate environment and competitive landscape within the banking industry.  The total cost of interest-bearing deposits declined to 0.73% for the first quarter of 2013, down from 0.79% for the fourth quarter of 2012.  The reduction in deposit rates was the result of declines in deposit costs across all categories.

Non-Interest Income

Total non-interest income was $8.7 million for the first quarter of 2013, compared to $6.4 million for the first quarter of 2012, and $6.7 million for the fourth quarter of 2012.  The increase from the prior quarter was primarily due to an increase in the net gain on sales of loans to $3.5 million during the first quarter of 2013 from $1.2 million during the fourth quarter of 2012.

The $3.5 million in net gains on sales of loans recognized in the first quarter of 2013 represents $3.4 million in gains from the sale of SBA loans, and $13 thousand in gains from the sale of residential mortgage loans.

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Non-Interest Expense

Total non-interest expense was $17.3 million for the first quarter of 2013, compared with $14.7 million for the first quarter of 2012, and $20.7 million for the fourth quarter of 2012.  The decrease in total non-interest expense from the prior quarter was primarily due to a $3.9 million impairment charge against the Company’s FDIC indemnification asset that increased non-interest expense in the fourth quarter of 2012.  No impairment charge against the FDIC indemnification asset was recorded in the first quarter of 2013.

Total salaries and employee benefits expense was $8.8 million for the first quarter of 2013, compared with $8.2 million for the first quarter of 2012, and $7.9 million for the fourth quarter of 2012.  The increase from the prior year was primarily due to an increase in the number of employees.  The increase from the prior quarter was primarily due to seasonally higher payroll taxes and employee benefits.

Other non-interest expense for the first quarter of 2013 totaled $5.8 million, compared with $3.9 million in the first quarter of 2012, and $6.2 million for the fourth quarter of 2012.  The increase from the first quarter of 2012 was primarily attributable to an increase in legal fees and other miscellaneous expenses.  The decrease from the fourth quarter of 2012 was primarily attributable to a decline in other loan and OREO expenses.

The Company’s operating efficiency ratio was 50.5% for the first quarter of 2013, compared with 47.8% for the first quarter of 2012 and 64.1% for the fourth quarter of 2012.

Tax Provision

For the first quarter of 2013, the Company recorded a provision for income taxes totaling $5.4 million, reflecting an effective tax rate of 31.7%.  The effective tax rate is lower than historical rates primarily due to the generation of tax credits associated with the Company’s investment in affordable housing programs.

BALANCE SHEET

Total gross loans receivable, were $2.06 billion at March 31, 2013, compared to $2.01 billion at December 31, 2012.  The increase in total gross loans receivable during the first quarter of 2013 was primarily due to a $29.3 million increase in the commercial and industrial portfolio.

The following table shows gross loans (excluding loan fees and allowance for loan losses) by loan type:

Loan Categories

* Gross Loans Receivable and Total Gross Loans are not net of deferred fees and costs as is shown in the consolidated balance sheet presentation

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The following table shows quarterly loan originations by loan type:

Loan Originations

Total SBA loans held-for-sale at the end of the first quarter of 2013 totaled $64.9 million compared to $72.8 million at the end of the previous quarter.  The remaining $69.2 million in loans held-for-sale at March 31, 2013 were comprised entirely of residential mortgage loans.  The decision to retain or sell SBA loan production will be made on a quarter-to-quarter basis, dependent upon pricing in the secondary market and the Company’s liquidity needs.  During the first quarter of 2013, the Company sold approximately $30.3 million in SBA loans.

Total deposits were $2.16 billion at March 31, 2013, compared with $2.17 billion at December 31, 2012.  Decreases in non-jumbo time deposits and money market deposits were partially offset by an increase in non-interest bearing demand deposits and jumbo time deposits.  Compared to the March 31, 2012, non-interest bearing demand deposits increased 16.8% at March 31, 2013.

CREDIT QUALITY

The Company has experienced improving credit trends for several quarters, most notably evidenced by decreases in non-accrual loans and classified loans.  In light of the continued improvement in credit quality, the Company determined that no provision for losses on loans and loan commitments was required for the first quarter of 2013.  The allowance for loan losses totaled $58.6 million, or 2.85% of gross loans (excluding loans held-for-sale), at March 31, 2013, compared to $63.3 million, or 3.15% of gross loans (excluding loans held-for-sale), at December 31, 2012.  The coverage ratio of the allowance for loan losses to non-performing assets was 214.6% at March 31, 2013, compared with 210.7% at December 31, 2012.

Non-Accrual Loans

At March 31, 2013, total non-accrual loans were $25.1 million, or 1.15% of gross loans, compared to $28.0 million, or 1.30% of gross loans, at December 31, 2012.  Covered loan (previously acquired loans covered under FDIC loss share agreements) non-accruals totaled $5.0 million at March 31, 2013.

The following table shows total non-accrual loans by loan type:

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Gross Loan Charge-offs

Loan charge-offs for the first quarter of 2013 totaled $5.6 million, compared to $3.0 million in the fourth quarter of 2012.  The largest components of the first quarter 2013 loan charge-offs was a $1.7 million partial charge-off of a real estate secured loan related to a golf course and a $1.3 million partial charge-off of a gas station loan. Covered loan charge-offs totaled $35 thousand for the first quarter of 2013.

Charge-offs by loan type are reflected in the table below:

Other measures of credit quality are shown in the following tables:

CAPITAL RATIOS

All of the Company’s capital ratios remain in excess of “well capitalized” regulatory requirements as shown in the following table:

* Tangible Common Equity and Tangible Assets are Non-GAAP measure of financial performance.  Please refer to the “Reconciliation of GAAP Financial Measures to Non-GAAP Financial Measures” table at the end of this press release for a reconciliation of Tangible Common Equity to Shareholders’ Equity and Tangible Assets to Total Assets

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CONFERENCE CALL

Management will host its quarterly conference call on April 23, 2013, at 11:00 a.m. PT (2:00 p.m. ET). Investment professionals are invited to participate in the call by dialing 866-953-6857 (domestic number) or 617-399-3481 (international number) and entering passcode #48466954.

COMPANY INFORMATION

Headquartered in Los Angeles, Wilshire State Bank operates 24 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, and 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. The Company’s strategic goals include increasing shareholder and franchise value by continuing to grow its multi-ethnic banking business and expanding its geographic reach to other similar markets with strong levels of small business activity.  Visit us at www.wilshirebank.com.

FORWARD-LOOKING STATEMENTS

This press release contains statements that are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Rule 175 promulgated thereunder, and Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder.  Statements concerning future performance, events, financial condition, results of operations, plans or any other guidance on future periods constitute forward-looking statements that are subject to a number of risks and uncertainties that might cause actual results to differ materially from stated expectations. You should not place undue reliance on forward-looking statements, as they are subject to risks and uncertainties, including but not limited to the risk factors set forth in our most recent Annual Report on Form 10-K and our other filings made from time to time with the SEC.  Specific factors that could cause future results to differ materially from historical performance and these forward-looking statements include, but are not limited to, (1) loan production and sales, (2) credit quality, (3) the ability to expand net interest margin, (4) the ability to continue to attract low-cost deposits, (5) success of expansion efforts, (6) competition in the marketplace, (7) political developments, war or other hostilities, (8) changes in the interest rate environment, (9) the ability of our borrowers to repay their loans, (10) the ability to maintain capital requirements and adequate sources of liquidity, (11) effects of or changes in accounting policies, (12) legislative or regulatory changes or actions, (13) the ability to attract and retain key personnel, (14) the ability to receive dividends from our subsidiaries, (15) the ability to secure confidential information through the use of computer systems and telecommunications networks, (16) weakening in the economy, specifically the real estate market, either nationally or in the states in which we do business, and (17) general economic conditions. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes included in the Company’s most recent reports on Form 10-K and Form 10-Q, as filed with the Securities and Exchange Commission, as they may be amended from time to time.  Results of operations for the most recent quarter are not necessarily indicative of operating results for any future periods. Any projections in this release are based on limited information currently available to management and are subject to change. Since management will only provide guidance at certain points during the year, the Company will not necessarily update the information. Such information speaks only as of the date of this release. Additional information on these and other factors that could affect financial results are included in filings by the Company with the Securities and Exchange Commission.

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CONSOLIDATED BALANCE SHEET

(Dollars In Thousands) (Unaudited)

(continued)

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CONSOLIDATED STATEMENT OF OPERATIONS

(Dollars In Thousands, Except Per Share Data) (Unaudited)

(continued)

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SUMMARY OF FINANCIAL DATA

(Dollars In Thousands, Except Per Share Data) (Unaudited)