Center Bank Regional Director Joins First Intercontinental Bank as Chief Operating Officer.

-- Appointment Underscores Banks' Commitment to Pending Merger --

LOS ANGELES & ATLANTA -- Following the signing of a definitive agreement for Center Financial Corporation (NASDAQ:CLFC) to acquire First Intercontinental Bank (OTCBB:FIEB), the companies today announced the appointment of Sang Pil An as executive vice president and chief operating officer of First Intercontinental Bank, effective October 22, 2007.

"This appointment is a testament to the commitment of both Center Bank and First Intercontinental Bank to the pending merger," said Jae Whan (J.W.) Yoo, president and chief executive officer of Center Financial. "Sang Pil has been a valued member of our organization for nearly 13 years, and this promotion ensures the extension of Center Bank's corporate and credit culture throughout First Intercontinental. We believe Center's strong credit culture and conservative underwriting standards will help ensure sound expansion at First Intercontinental and will be a critical element of continued growth in the current credit environment."

A 20-year banking industry veteran, Mr. An currently serves as senior vice president and regional director of Center Bank's five branches in the Koreatown and downtown area of Los Angeles. From May 2005 to May 2007, he was Center Bank's senior vice president and chief administrative officer. Mr. An first joined Center Bank in 1993 as a vice president and has served in various branch and department management positions, including branch manager of the company's Downtown and Olympic offices. He has also headed the international department, corporate banking division and new market group during his tenure at Center Bank. From April 1997 to October 1998, Mr. An was a vice president and manager for Saehan Bank's main office and international department. He began his banking career as an assistant vice president and assistant branch manager at California Korea Bank, which was later renamed to Pacific Union Bank and then acquired by Hanmi Bank. Mr. An earned his master's degree in economics at the University of Southern California and a bachelor's degree in economics at Sungkyunkwan University in Seoul, Korea.

Daniel C. Lee, president and chief executive officer of First Intercontinental Bank, said, "Sang Pil has been on the frontline during Center Bank's dramatic expansion from less than $300 million in total assets to reaching nearly $2 billion today. As the first Korean-American bank to be established in the Atlanta market, First Intercontinental has the greatest market share and benefits from strong brand recognition. With $232 million in total assets as of June 2007, we believe we are at an inflection point before reaching accelerated growth as a part of the Center Financial family. We welcome Sang Pil to our organization and look forward to benefiting from his leadership and experience."

As previously announced, Center Financial and First Intercontinental Bank signed a definitive agreement, under which First Intercontinental will be merged into a newly formed Georgia state chartered banking subsidiary that will operate under the First Intercontinental Bank name. Center Financial will become a multi-bank holding company with Center Bank and First Intercontinental Bank as its two wholly owned banking subsidiaries. The closing of the transaction is subject to the approvals of the Federal Reserve Board, the FDIC and the Georgia Department of Banking and Finance, as well as the approval of First Intercontinental's shareholders. The transaction is expected to complete in the first quarter of 2008.

About Center Financial Corporation

Center Financial Corporation is the holding company of Center Bank, a community bank offering a full range of financial services for diverse ethnic and small business customers. Founded in 1986 and specializing in commercial and SBA loans and trade finance products, Center Bank has grown to be one of the nation's largest financial institutions focusing on the Korean-American community, with total assets of $1.91 billion at June 30, 2007. Headquartered in Los Angeles, Center Bank operates 25 branch and loan production offices. Of the company's 17 full-service branches, 15 are located throughout Southern California, along with one branch each in Chicago and Seattle. Center Bank's eight loan production offices are strategically located in Phoenix, Seattle, Denver, Washington D.C., Las Vegas, Atlanta, Dallas and Northern California. Center Bank is a California state-chartered institution and its deposits are insured by the FDIC to the extent provided by law. For additional information on Center Bank, visit the company's Web site at www.centerbank.com.

About First Intercontinental Bank

Organized in 2000, First Intercontinental Bank is a Georgia State chartered commercial bank headquartered in Doraville, Georgia, the commercial business center of Atlanta's Asian community. First IC currently operates four full-service branches located in Doraville, two in Duluth and in Suwannee, targeting the Korean-American and other ethnic communities in the greater Atlanta metropolitan area. As of June 20, 2007, First IC Bank had $232 million in total assets, $151 million in loans and $208 million in deposits. For additional information on First IC Bank, visit the company's Web site at www.firsticbank.com.

This release contains forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, but are not limited to, statements regarding the continued growth First Intercontinental Bank following the acquisition by Center Financial, integration risks associated with the First Intercontinental Bank acquisition, and satisfaction of various closing conditions and receipt of all regulatory approvals. The forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and actual results and performance in future periods may be materially different from any future results or performance suggested by the forward-looking statements in this release. Factors that might cause such differences include, but are not limited to, those identified in our cautionary statements contained in Center Financial Corp.'s Annual Report on Form 10-K for the fiscal year ended December 31, 2006 (See Business, and Management's Discussion and Analysis), and other filings with the Securities and Exchange Commission (SEC) are incorporated herein by reference. These factors include, but are not limited to: competition in the financial services market for both deposits and loans; the ability of Center Financial and its subsidiaries to increase its customer base; changes in interest rates; new litigation or changes or adverse developments in existing litigation; and regional and general economic conditions. Such forward-looking statements speak only as of the date of this release. Center Financial expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in the company's expectations of results or any change in events.