EXHIBIT 99.1

BBCN Bancorp Reports 2013 First Quarter Financial Results; Declares Quarterly Cash Dividend of $0.05 Per Share

Q1 2013 Summary:

• Pacific International acquisition completed February 15, 2013, making BBCN the leading Korean-American bank in the Pacific Northwest
• Total gross loans receivable increase $204 million net to $4.5 billion, or 5% linked quarter
• $5.8 billion in total assets, reflecting a 4% increase linked quarter
• Non-accrual loans to gross loans of 0.94% primarily reflects the addition of one large loan
• $17.5 million net income, or $0.22 per diluted common share
• Quarterly cash dividend of $0.05 per common share

LOS ANGELES, April 22, 2013 (GLOBE NEWSWIRE) -- BBCN Bancorp, Inc. (the "Company") (Nasdaq:BBCN), the holding company of BBCN Bank (the "Bank"), today reported net income available to common stockholders of $17.5 million, or $0.22 per diluted common share, for the first quarter of 2013. This compares with net income available to common stockholders of $22.1 million, or $0.28 per diluted common share, for the year-ago first quarter, and net income available to common stockholders of $21.5 million, or $0.28 per diluted common share, for the preceding 2012 fourth quarter.

The Company also announced that its Board of Directors declared a quarterly cash dividend for the second quarter of 2013. All stockholders of record as of May 3, 2013 will be paid a cash dividend of $0.05 per common share, payable on or about May 17, 2013.

"We continued to make progress strengthening our leadership as the premier Korean-American bank in the nation with the completion of the Pacific International transaction during the quarter," said Kevin S. Kim, Chairman and Chief Executive Officer of BBCN Bancorp, Inc. "We are pleased with our new loan originations of $221 million for the seasonally slower first quarter. The current market rate environment is pressuring our net interest margin, which declined by 7 basis points to 3.97% on a core basis, excluding the effect of acquisition accounting adjustments. While elevated provision expense due to one large loan impacted earnings for the quarter, we believe our credit costs remain manageable. Pre-tax pre-provision earnings to average assets of 2.54% on an annualized basis underscores BBCN's core earnings power. Together with the recent announcement of a definitive agreement to acquire Chicago-based Foster Bankshares, we believe BBCN is solidly grounded for continued profitability and growth."

Financial Highlights

Operating Results for the First Quarter of 2013

The comparability of operating results with past performance is impacted by acquisition accounting adjustments. The Company believes the following supplemental information will be helpful in understanding past financial performance. Operating results for the three months ended March 31, 2013, December 31, 2012 and March 31, 2012 include the following pre-tax acquisition accounting adjustments related to mergers. 

The increase (decrease) of major adjustments to pre-tax income is summarized below. The impact which these adjustments have to certain yields and costs are described in subsequent sections of this release.

In addition to the items listed above, acquisition accounting adjustments had the effect of reducing the yield on acquired securities portfolios. 

Operating results were also impacted by merger and integration related expenses, which amounted to $1.3 million, $505,000 and $1.8 million, for the 2013 first quarter, 2012 fourth quarter and 2012 first quarter, respectively. The Company noted that merger and integration related expenses for the 2013 first quarter primarily reflected expenses associated with the Pacific International Bancorp acquisition, which was completed on February 15, 2013.

Net Interest Income and Net Interest Margin. The following table summarizes the reported net interest income before provision for loan losses.

First quarter 2013 net interest income before provision for loan losses declined by 2% from the year-ago first quarter and was steady when compared with the preceding fourth quarter of 2012. The modest decline from the 2012 first quarter principally reflects lower yields on interest-earning assets, partially offset by lower interest expense on other borrowings.  

The net interest margin (net interest income divided by average interest-earning assets) and the impact of acquisition accounting adjustments are summarized in the following table:

First quarter 2013 net interest margin was 4.49%, reflecting a 62 basis point reduction from the 2012 first quarter, largely attributable to the accretion of discounts on acquired loans. On a core basis, excluding the effect of acquisition accounting adjustments, the net interest margin for the first quarter of 2013 decreased by 7 basis points from the prior-year first quarter to 3.97%. 

Compared with the preceding 2012 fourth quarter, net interest margin for the 2013 first quarter declined 12 basis points, largely reflecting decreases in the weighted average yields on loans and investment securities. Excluding the effect of acquisition accounting adjustments, the core net interest margin for the first quarter of 2013 declined 9 basis points from the preceding fourth quarter.

The weighted average yield on loans and the impact of acquisition accounting adjustments are summarized in the following table: 

The weighted average yield on loans for the 2013 first quarter decreased 100 basis points from the 2012 first quarter and 46 basis points on a core basis, excluding acquisition accounting adjustments. The reduction in the core yield, excluding the effect of acquisition accounting adjustments, primarily reflects the significant reduction in market rates compared with a year ago.

Compared with the preceding fourth quarter of 2012, the weighted average yield on loans declined by 14 basis points, and 9 basis points on a core basis, excluding the effect of acquisition accounting adjustments. The more moderate sequential decreases in the weighted average yield on loans reflects a stabilization in the competitive pricing environment in recent quarters. The weighted average yield on new loans originated during the 2013 first quarter was 4.52%, compared with 4.54% for the preceding fourth quarter.

The composition of fixed and variable rate loans and the associated weighted average yield, excluding the effect of loan discount accretion, is summarized in the following table:

The increased composition of fixed rate loans as a percentage of total loans versus the year-ago period reflects the high demand for fixed rate commercial real estate loans in the current interest rate environment.  

The weighted average yield on securities available for sale is summarized in the following table:

The weighted average yield on securities available-for-sale for first quarter of 2013 declined 73 basis points from the year-ago first quarter and 10 basis points from the preceding fourth quarter of 2012. The reductions are primarily attributable to the replacement of maturing securities with lower yielding investments as market interest rates have declined.  

The weighted average duration and average life of the securities available-for-sale are summarized in the following table:

The weighted average cost of deposits and the impact of acquisition accounting adjustments are summarized in the following table: 

The weighted average cost of deposits for the first quarter of 2013 improved 7 basis points to 0.49% from the prior-year first quarter, and improved 16 basis points on a core basis, excluding the effect of premium amortization on time deposits assumed in mergers. First quarter 2013 weighted average cost of deposits benefited from reductions in the cost of most categories of interest-bearing deposits, offset by an 8 basis point increase in the average cost of time deposits less than $100,000.

Compared with the preceding fourth quarter of 2012, the weighted average cost of deposits for the 2013 first quarter improved 3 basis points, and 2 basis points on a core basis, excluding the amortization of premium on time deposits assumed in mergers.   

The weighted average cost of FHLB advances and the impact of acquisition accounting adjustments are summarized in the following table: 

For the first quarter of 2013, the weighted average cost of FHLB advances decreased 75 basis points to 1.17% from the year-ago first quarter, largely due to decreases in market interest rates. Excluding the effect of acquisition accounting adjustments, the weighted average cost of FHLB advances decreased 214 basis points, reflecting the addition of $470.0 million in new FHLB borrowings at a weighted average rate of 0.62%, which is substantially lower than the weighted average rate of the rest of the borrowings. The weighted average original maturity of the new borrowings was 2.60 years. In addition, a total of $390.1 million of FHLB borrowings, with a weighted average rate of 1.24%, matured over the past twelve months.

Compared with the preceding fourth quarter of 2012, the weighted average cost of FHLB advances decreased 14 basis points, and 13 basis points on a core basis, excluding the effect of acquisition accounting adjustments. During the first quarter of 2013, the Company added $90.0 million in new FHLB borrowings at a weighted average rate of 0.59%, and the weighted average original maturity of these new borrowings was 2.33 years. In addition, a total of $89.0 million of FHLB borrowings, with a weighted average rate of 1.19%, matured during first quarter 2013.

Non-interest Income. Total non-interest income for the first quarter of 2013 amounted to $9.9 million, reflecting a 15% decrease from the prior-year first quarter and a 1% increase over the preceding 2012 fourth quarter. 

The various non-interest income items are summarized in the following table:

The year-over-year decline in non-interest income was largely attributed to an $816,000 net gain on sale of securities available-for-sale posted in the 2012 first quarter, versus just $54,000 during the 2013 first quarter.     

Net gains on sales of SBA loans totaled $2.7 million, $3.0 million and $2.8 million for the 2013 first quarter, 2012 first quarter and 2012 fourth quarter, respectively. During the 2013 first quarter, the Company sold $25.7 million in SBA loans to the secondary market.

Non-interest Expense. Total non-interest expense amounted to $33.3 million for the first quarter of 2013, reflecting a 9% increase over the prior-year first quarter and the preceding fourth quarter of 2012.  

The various non-interest expense items are summarized in the following table:

Salaries and benefits expense for the 2013 first quarter increased 16% and 15%, respectively, over the year-ago first quarter and the preceding 2012 fourth quarter. The Company attributed the increase to one-time costs incurred as part of a management transition, as well as an increase in full-time equivalent employees (FTEs) as a result of the Pacific International transaction close. The number of FTEs was 762, 704 and 661 as of March 31, 2013, December 31, 2012, and March 31, 2012, respectively. 

The Company noted that merger and integration expenses for 2013 first quarter were principally associated with the Pacific International acquisition, while 2012 first quarter expenses were associated with the Center merger of equals. 

Income Tax Provision. The effective tax rate for 2013 first quarter was 39.5%, compared with 39.4% for 2012 first quarter and 41.0% for the preceding 2012 fourth quarter.

Balance Sheet Summary

Gross loans receivable totaled $4.50 billion at March 31, 2013, an increase of 5% over $4.30 billion at December 31, 2012 and an increase of 20% over $3.74 billion a year earlier at March 31, 2012. Total new loan originations for first quarter of 2013 amounted to $220.9 million, including SBA loan originations of $49.5 million.

In comparison, new loan production during the seasonally higher 2012 fourth quarter equaled $371.2 million, including SBA loan originations of $84.3 million. 

Sales of SBA loans to the secondary market and gains derived from those sales are based substantially on the production of SBA 7(a) loans. Production of SBA 7(a) loans amounted to $31.7 million for the first quarter of 2013, compared with $27.5 million for the preceding 2012 fourth quarter. During the 2013 first quarter, the Company sold $25.7 million of its SBA loans held for sale.

Aggregate loan pay-offs, pay-downs, amortization and other adjustments totaled $147.6 million during the first quarter of 2013, compared with $169.6 million during the prior-year first quarter and $144.5 million during the preceding fourth quarter of 2012.

Total deposits amounted to $4.56 billion at March 31, 2013, reflecting an increase of 4% over $4.38 billion at December 31, 2012, and a 16% increase over $3.92 billion a year earlier at March 31, 2012. The increases reflect higher balances in non-interest bearing demand deposits, money market accounts and jumbo time deposits. During the 2013 first quarter, the Company added a net $69 million in wholesale deposits to support loan production activities. Non-interest bearing deposits at March 31, 2013 totaled $1.18 billion, steady compared with December 31, 2012, but declined as a percentage of total deposits to 26% from 27% of total deposits at year-end 2012.

Credit Quality

The provision for loan losses for the 2013 first quarter was $7.5 million, compared with $2.6 million for prior-year first quarter and $2.4 million for the preceding fourth quarter of 2012. The 2013 first quarter provision reflects the addition of a new specific reserve of $5.1 million related to a troubled debt restructuring of an industrial warehouse loan. 

For a more detailed understanding of the changes in the Allowance for Loan and Lease Losses ("ALLL"), the composition of the ALLL has been segmented for disclosure purposes between loans accounted for under the amortized cost method (referred to as "Legacy Loans") and loans acquired in mergers and acquisitions (referred to as "Acquired Loans"). The Acquired Loans are further segregated between performing and credit impaired loans. 

The composition of ALLL for the three months ended March 31, 2013, December 31, 2012 and March 31, 2012 is as follows: 

⁽¹⁾  Legacy Loans include loans originated by the Bank's predecessor bank, loans originated by BBCN, and loans that were acquired and that have been refinanced as new loans.

⁽²⁾ Acquired Loans were marked to fair value at acquisition date, and their allowance for loan losses reflect provisions for credit deterioration since the acquisition date.

Following are the Special Mention, Classified and Total Criticized loan balances as of March 31, 2013, December 31, 2012 and March 31, 2012:  

⁽¹⁾  Balances include Acquired Loans which were marked to fair value on the date of acquisition.

Nonperforming loans (defined by the Company as loans past due 90 days or more and on non-accrual status, acquired loans past due 90 days or more and on accrual status, and accruing restructured loans) at March 31, 2013 totaled $96.1 million, or 2.14% of total loans, compared with $77.2 million, or 1.80% of total loans, at December 31, 2012. The increase in nonperforming loans is largely attributed to a $10.3 million industrial warehouse commercial real estate loan that was placed on non-accrual status during the quarter. Nonperforming loans as of March 31, 2013 also reflect the addition of $6.9 million in new acquired loans related to the Pacific International transaction. These increases were partially offset by charge-offs and pay-offs during the quarter.   

Nonperforming assets at March 31, 2013 were $104.6 million, or 1.79% of total assets, compared with $79.9 million, or 1.42% of total assets, at December 31, 2012. The increase is attributed to the $10.3 million new non-accrual loan and the recently acquired Pacific International portfolio, as previously mentioned, as well as other real estate owned.

Net loan charge-offs for the first quarter of 2013 continued to show improvements and declined to $1.2 million, or 0.11% of average loans on an annualized basis, from $1.4 million, or 0.13%, for the preceding fourth quarter of 2012.  

The allowance for loan losses at March 31, 2013 was $73.3 million, or 1.63% of gross loans receivable (excluding loans held for sale), compared with $66.9 million, or 1.56%, at December 31, 2012.   The coverage ratio of the allowance for loan losses to nonperforming loans (excluding acquired loans past due 90 days or more on accrual status) was 98.3% at March 31, 2013, compared with 112.5% at December 31, 2012.

Impaired loans (defined as loans for which it is probable that not all principal and interest payments due will be collectible in accordance with the contractual terms) increased to $102.0 at March 31, 2013 from $90.2 million at December 31, 2012. The increase was primarily related to previously mentioned $10.3 million industrial warehouse commercial real estate loan.  

Specific reserves for impaired loans at March 31, 2013 were $15.1 million, or 14.8% of the aggregate impaired loan amount, compared with $9.2 million, or 10.2% of the aggregate impaired loan amount, at December 31, 2012. Excluding specific reserves for impaired loans, the allowance coverage on the remaining loan portfolio was 1.32% at March 31, 2013, compared with 1.37% at December 31, 2012.

Capital

At March 31, 2013, the Company continued to exceed all regulatory capital requirements to be classified as a "well-capitalized" institution, as summarized in the following table. 

Tangible common equity per share and as a percentage of tangible assets continued to improve over prior comparable periods, as summarized in the following table:

⁽¹⁾ 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. The accompanying financial information includes a reconciliation of the ratio of tangible common equity to tangible assets with stockholders' equity and total assets.

On April 16, 2013, BBCN announced a definitive agreement to acquire Chicago-based Foster Bankshares, Inc. The transaction is valued at approximately $4.6 million, valuing each outstanding share of Foster common stock at $34.67. As of December 31, 2012, Foster had total assets of $412.6 million, total loans of $326.9 million and total deposits of $357.4 million. Foster Bank, a wholly owned subsidiary of Foster Bankshares, was founded in 1989 as one of the first Korean-American banks in the Chicago area. Foster Bank is a state-chartered bank, operating eight branches in the Chicago metropolitan area and one branch in Annandale, Virginia. The transaction is expected to close during the second half of 2013, subject to regulatory approvals and satisfaction of other customary closing conditions. 

Investor Conference Call 

The Company will host an investor conference call on Tuesday, April 23, 2013 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review financial results for the first quarter of 2013. Investors and analysts may access the conference call by dialing 866-318-8612 (domestic) or 617-399-5131 (international), passcode 86341692. Other interested parties are invited to listen to a live webcast of the call available at the Investor Relations section of BBCN Bancorp's website at BBCNbank.com. 

After the live webcast, a replay will be archived in the Investor Relations section of BBCN Bancorp's website for one year. A telephonic replay of the call will be available at 888-286-8010 (domestic) or 617-801-6888 (international) through April 30, 2013, passcode 55890200.

About BBCN Bancorp, Inc.

BBCN Bancorp, Inc. is the holding company of BBCN Bank, the largest Korean-American bank in the nation with $5.8 billion in assets as of March 31, 2013. Headquartered in Los Angeles and serving a diverse mix of customers mirroring its communities, BBCN operates 44 branches in California, New York, New Jersey, Washington and Illinois, along with five loan production offices in Seattle, Denver, Dallas, Atlanta and Northern California. BBCN specializes in core business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and business lending, SBA lending and international trade financing. BBCN Bank is a California-chartered bank and its deposits are insured by the FDIC to the extent provided by law. BBCN is an Equal Opportunity Lender.

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.

(tables follow)

CONTACT: Investors and Financial Media:
         Angie Yang
         SVP, Investor Relations
         213-251-2219
         angie.yang@BBCNbank.com