Nara Bancorp and Center Financial Shareholders Approve Planned Merger of Equals

Nara Bancorp, Inc. NARA and Center Financial Corporation CLFC today announced the receipt of shareholder approval for the planned merger of the two companies. The shareholders of Nara Bancorp and Center Financial approved the merger at each company's respective annual meeting of shareholders held earlier today. Approximately 74% of Nara Bancorp's outstanding stock and over 99% of the total votes cast voted in favor of the merger. Approximately 77% of Center Financial Corporation's outstanding stock and over 99% of the total votes cast voted in favor of the merger. “We are very pleased with the overwhelming support that the merger agreement has received from the shareholders of both Nara and Center,” said Alvin D. Kang, President and Chief Executive Officer of Nara Bancorp and the future President and Chief Executive Officer of the combined company. “The larger scale, higher lending limits, and increased convenience that will result from this merger will enable us to serve our customers at a level that cannot be matched by other banks in the Korean-American market.”