Exhibit 99.1

Wilshire Bancorp Reports Net Income of $15.1 Million or

$0.19 per Share for Third Quarter 2014

LOS ANGELES, October 20, 2014 - Wilshire Bancorp, Inc. (NASDAQ: WIBC) (the “Company”), the holding company for Wilshire Bank (the “Bank”), today reported net income of $15.1 million, or $0.19 per diluted common share, for the quarter ended September 30, 2014.  This compares to net income of $11.3 million, or $0.16 per diluted common share, for the same period of the prior year, and net income of $14.7 million, or $0.19 per diluted common share, for the second quarter of 2014.

Jae Whan (J.W.) Yoo, President and CEO of Wilshire Bancorp, said, “We had an outstanding quarter from a business development standpoint, generating almost $400 million in loan originations, which is a record level for the Company.  It is important to note that we had contributions from all of our major lending areas including commercial real estate, commercial, SBA, and residential mortgages.  As a result of our strong loan production, our total loan portfolio increased at an annualized rate of 27% during the third quarter.  The performance is a testament to the highly productive marketing team we have developed at Wilshire, which has been strengthened by the addition of experienced business development officers from our BankAsiana and Saehan acquisitions.  We are very pleased that we have been able to generate this growth in our loan portfolio, while continuing to see declining levels of problem assets, which underscores our commitment to maintaining a strong credit culture.  We continue to have a healthy pipeline of attractive lending opportunities, which should enable us to continue our positive trends over the rest of 2014.”

Q3 2014 Summary

·       Net income totaled $15.1 million, or $0.19 per diluted common share, for the third quarter of 2014

·       Total revenue of $46.4 million for the third quarter of 2014, an increase of 34% from the third quarter of 2013

·       Return on average assets of 1.61% and return on average equity of 12.80% for the third quarter of 2014

·       Net interest margin of 4.26%, for the third quarter of 2014, an increase from 4.08% for the third quarter of 2013

·       Loans receivable (net of deferred fees and costs) totaled $3.16 billion at September 30, 2014, an increase of 44% from $2.20 billion at September 30, 2013

·       Total deposits were $3.19 billion at September 30, 2014, an increase of 41% from $2.25 billion at September 30, 2013

·       Continued low credit losses and improvement in asset quality resulted in no provision for losses on loans and loan commitments for the third quarter of 2014

STATEMENT OF OPERATIONS

Net interest income before provision for losses on loans and loan commitments totaled $36.8 million for the third quarter of 2014, an increase of 38% from $26.7 million for the third quarter of 2013, and an increase of 2% from $36.1 million for the second quarter of 2014.  The increase from the prior quarter is primarily attributable to a higher average loan balance and an increase in acquired loan discount accretion income.  Discount accretion income from loans acquired from Saehan Bancorp and BankAsiana totaled $2.9 million for the third quarter of 2014, compared to $2.5 million for the second quarter of 2014.

Net interest margin was 4.26% for the third quarter of 2014, compared to 4.35% for the second quarter of 2014, and 4.08% for the third quarter of 2013. Excluding the effect of the amortization/accretion of the purchase accounting adjustments for the acquisitions for Saehan Bancorp and BankAsiana, the net interest margin was 3.89% for the third quarter of 2014, compared with 4.00% for the second quarter of 2014.  The decrease in net interest margin is attributable to a decrease in average yield on loans, excluding the effects of purchase accounting adjustments, and an increase in the cost of deposits.

Loan yields were 5.12% for the third quarter of 2014, compared with 5.20% for the second quarter of 2014, and 5.05% for the third quarter of 2013.  Excluding the effect of the accretion of the purchase accounting adjustments for Saehan Bancorp and BankAsiana, loan yields were 4.74% for the third quarter of 2014, compared to 4.85% for the second quarter of 2014.

The total cost of deposits was 0.53% for the third quarter of 2014, compared with 0.48% for the second quarter of 2014 and 0.53% for the third quarter of 2013.

Non-Interest Income

Total non-interest income was $9.6 million for the third quarter of 2014, compared to $7.8 million for the third quarter of 2013, and $10.7 million for the second quarter of 2014.  The decrease from the prior quarter was primarily due a lower net gain on sale of Small Business Administration (“SBA”) loans, which was partially offset by an increase in other real estate owned (“OREO”) rental and other miscellaneous income.

The $2.4 million in net gain on sale of loans recognized during the third quarter of 2014 consisted substantially of gains from the sale of SBA loans.  Net gain on sale of loans for the second quarter of 2014 was $4.7 million.  During the third quarter of 2014, the Company sold $20.3 million in SBA loans, compared with $45.3 million sold during the second quarter of 2014.

Non-Interest Expense

Total non-interest expense was $23.2 million for the third quarter of 2014, compared with $17.8 million for the third quarter of 2013, and $24.6 million for the second quarter of 2014.  The reduction in non-interest expense from the prior quarter was primarily attributable to fewer merger-related expenses and a reduction in impairment charge to the Company’s FDIC indemnification asset.

Total salaries and employee benefits expense was $12.3 million for the third quarter of 2014, compared with $8.8 million for the third quarter of 2013, and $12.4 million for the second quarter of 2014.

Other non-interest expense for the third quarter of 2014 totaled $6.4 million, compared with $6.3 million in the third quarter of 2013, and $7.1 million for the second quarter of 2014.  The decrease from the prior quarter was primarily attributable to a reduction in OREO and low income house investment-related expenses.

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The Company’s operating efficiency ratio was 50.1% for the third quarter of 2014, compared with 51.7% for the third quarter of 2013, and 52.4% for the second quarter of 2014.

BALANCE SHEET

Total gross loans receivable (not including deferred fees and costs) were $3.17 billion at September 30, 2014, compared to $2.98 billion at June 30, 2014.  The increase in loans during the third quarter of 2014 was driven by growth in the real estate secured and commercial & industrial portfolios.

The following table shows gross loans receivable, loans held-for-sale, and gross loans by loan type:

*       Gross loans receivable and total gross loans are not net of deferred fees and costs as shown in the consolidated balance sheet presentation

The following table presents the September 30, 2014 balance of gross loans by loan type and broken out by legacy Wilshire loans and loans acquired from former BankAsiana, Saehan Bank, and Mirae Bank.

* Represents loans balances net of fair value adjustments

The following table shows quarterly loan originations:

Originations for the third quarter of 2014 totaled $399.2 million, compared to $282.0 million for the second quarter of 2014, and $214.3 million for the third quarter of 2013.  The increase from the previous quarter was primarily due to higher real estate secured, commercial and residential mortgage loan production.

Total SBA loans held-for-sale at the end of the third quarter of 2014 were $16.2 million, compared to $5.1 million at the end of the previous quarter.  The decision to retain or sell SBA loans is made on a quarter-to-quarter basis, depending on prevailing pricing in the secondary market and the Company’s liquidity needs.

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Total deposits were $3.19 billion at September 30, 2014, compared with $2.96 billion at June 30, 2014.  The increase in total deposits was primarily attributable to growth in time deposits, which was partially offset by a decrease in non-interest bearing demand deposits and savings and interest checking deposits.

CREDIT QUALITY

The Company had net loan recoveries during the third quarter of 2014 and experienced a continued decline in criticized and classified loans, while non-accrual loans increased by $2.5 million as previously identified problem loans continued to progress towards resolution.  Due to the continued low level of loss experience and decline in total problem loans, the Company determined that no provision for losses on loans and loan commitments was required for the third quarter of 2014.  The allowance for loan losses totaled $53.1 million, or 1.67% of gross loans (excluding loans held-for-sale), at September 30, 2014, compared to $52.7 million, or 1.77% of gross loans (excluding loans held-for-sale), at June 30, 2014.  Acquired loans, included in the allowance coverage ratios, were recorded at fair value and the remaining discount on these loans was approximately $24.7 million at September 30, 2014.  The coverage ratio of the allowance for loan losses to non-performing assets was 103.2% at September 30, 2014, compared with 107.4% at June 30, 2014.

Non-Performing Loans

At September 30, 2014, total non-performing loans were $44.9 million, or 1.41% of total gross loans, compared to $42.4 million, or 1.42% of total gross loans, at June 30, 2014.

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

NON-PERFORMING LOANS

Net Charge-offs/Recoveries

During the third quarter of 2014, the Company had total gross charge-offs of $1.8 million and recoveries of $2.2 million which resulted in total net recoveries of $447,000 for the third quarter of 2014 compared to net charge-offs of $795,000 for the second quarter of 2014.

Gross charge-offs and recoveries by loan type are reflected in the tables below:

GROSS LOAN CHARGE-OFFS

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

CAPITAL RATIOS

As of September 30, 2014, 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 measures 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 October 21, 2014, at 11:00 a.m. PT (2:00 p.m. ET). Investment professionals are invited to participate in the call by dialing 800-299-8538 (domestic) or 617-786-2902 (international) and providing passcode number 96276277.

ABOUT WILSHIRE BANCORP

Headquartered in Los Angeles, Wilshire Bancorp is the parent company of Wilshire Bank, which operates 36 branch offices in California, Texas, New Jersey and New York, and 4 loan production offices in Atlanta, GA, Aurora, CO, Newark, CA, and Bellevue, WA, and is an SBA preferred lender nationwide. Wilshire 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.  For more information, please go to www.wilshirebank.com.

FORWARD-LOOKING STATEMENTS

Statements concerning future performance, events, 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. Undue reliance should not be placed 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 Securities and Exchange Commission.  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, (17) the integration of our acquired businesses, and (18) general economic conditions. The information in this press release speaks only as of the date of this release and Wilshire Bancorp specifically disclaims any duty to update the information in this press release. Additional information on these and other factors that could affect financial results are included in filings by Wilshire Bancorp with the Securities and Exchange Commission.

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CONSOLIDATED BALANCE SHEET

(Dollars In Thousands) (Unaudited)

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CONSOLIDATED STATEMENT OF OPERATIONS

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

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CONSOLIDATED STATEMENT OF OPERATIONS

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