Center Financial Selected as Preferred Bidder to Acquire Chicago Branch of Korea Exchange Bank.Business Editors LOS ANGELES--(BUSINESS WIRE)--Dec. 5, 2003 Center Financial Corporation (Nasdaq:CLFC CLFC Creating Lasting Family Connections (New Hampshire) CLFC Clear Lake Fencing Club (Texas) ), the holding company of Center Bank, a community bank focused on the Korean-American niche market, today announced that the company has received notification from Korea Exchange Bank Oehwan Bank or Korea Exchange Bank (KEB) (KSE: 004940) is South Korea's only exchange bank company. It is headquartered in Seoul, and was established in 1967. (KEB) that it has been selected as the preferred bidder to acquire the operations of KEB's branch office in Chicago, Illinois. The company said upon the completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. , it will move forward to execute definitive agreements. About Center Financial Corporation Center Financial Corporation is a financial holding company formed in 2002 and is the parent company of Center Bank. Founded in 1986, Center Bank is a community bank offering a full-range of financial services. Center Bank changed its name from California Center Bank in December of 2002. It specializes in commercial and SBA SBA abbr. Small Business Administration Noun 1. SBA - an independent agency of the United States government that protects the interests of small businesses and ensures that they receive a fair share of government loans and trade finance products for multi-ethnic and small business customers. The Bank operates 13 branches throughout Southern California and four Loan Production Offices located in Phoenix, Seattle, Denver and Washington D.C. It is one of the largest financial institutions in the nation focusing on the Korean-American community. Further information about the Company can be found at www.centerbank.com. This release may contain forward-looking statements, which are included in accordance with the "safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " provisions of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and accordingly, the cautionary statements contained in Center Financial Corp's Annual Report on Form 10-K for the fiscal year ended Dec. 31, 2002 (See Business, and Management's Discussion and Analysis Management's discussion and analysis (MD&A) A report from management to shareholders that accompanies the firm's financial statements in the annual report. It explains the period's financial results and enables management to discuss topics that may not be apparent in the financial ), and other filings with the Securities and Exchange Commission are incorporated herein by reference. These factors include, but are not limited to: the company's ability to execute definitive agreements to acquire Korea Exchange Bank's Chicago branch office. 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. 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. |
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