Center Financial Corp. said late Tuesday that it completed a private placement of 3.36 million new shares of common stock, with gross proceeds of $12.8 million.

The Los Angeles holding company of Center Bank said directors, members of the management team, friends of the company and certain accredited investors participated in the placement, which was priced at $3.71 per share for outside investors. That was a 5 percent discount to the volume-weighted average trading price of the company’s stock in the five trading days before Nov. 19.

For officers and directors, the purchase price was $4.69 per share, equal to the closing price of the company’s stock on Nov. 24.

Net proceeds will be used for working capital and general corporate purposes.

“The additional capital strengthens our liquidity position ahead of a slow, but positively trending economy, ensures that we have adequate capital to address potential future impacts from the weak economy and supports future growth,” Chief Executive Jae Whan said in a statement.

Shares were up 10 cents, or 2 percent, to $4.64 in midday trading on Nasdaq.