Center Financial Initiates CFO Search.

LOS ANGELES -- Center Financial Corporation (NASDAQ:CLFC) today announced that Executive Vice President and Chief Financial Officer Patrick Hartman submitted his resignation to pursue other interests. Hartman's resignation will be effective upon the filing of the company's Form 10-K for the period ended December 31, 2006. Based upon the success of the recent search for a new chief executive, the board of directors has elected to again engage Chrisman & Company, Inc. to advise the company in the selection of a new chief financial officer.

"I would like to thank Patrick for the valuable contributions he has made to Center Financial during his tenure with the company," said Jae Whan (J.W.) Yoo. "He leaves a lasting legacy that will continue to ensure the highest standards in financial integrity at Center Bank.

"Center Financial is a strong organization with significant opportunities in the market, and I am confident that we will be able to attract a highly qualified successor in the very near term," Yoo said.

Lonny Robinson, who worked with management at Center Financial from January through April of 2006 as a consultant for a project that reengineered and streamlined the financial reporting processes at the company, will serve as interim chief financial officer until a successor is named. Robinson is an independent contractor for the financial banking industry with more than 26 years of direct experience, including seven years as a chief financial officer of a publicly-traded financial institution. He is a certified public accountant.

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 $1.84 billion at December 31, 2006. Headquartered in Los Angeles, Center Bank operates 26 branch and loan production offices across the nation. 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 nine loan production offices are strategically located in Phoenix, Seattle, Denver, Washington D.C., Las Vegas, Atlanta, Honolulu, Houston and Dallas. 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.