Hanmi Financial Corp. on Thursday said that shareholders of Central Bancorp Inc. have approved a merger with Hanmi.
The Koreatown holding company for Hanmi Bank said the deal with the parent of United Central Bank in Garland, Texas, is expected to close in the second half of this year. Central Bancorp stockholders will receive $50 million in cash.
Central Bancorp had about $1.42 billion in assets and 23 branches in six states at the end of 2013.
Hanmi shares closed up 69 cents, or 3 percent, to $22.65 on the Nasdaq.