Saehan Bancorp said late Wednesday that Chief Executive Chung Hoon Youk plans to resign from the company and its board later this month.

Youk, who joined the Koreatown bank holding company in August 2008, will step down Oct. 22 for undisclosed personal reasons.

“It was a surprise to the board members as well as the other management members,” said Daniel Kim, the company’s chief financial officer, by telephone Wednesday. “The board is trying to find someone (to replace him) as soon as possible, hopefully within the next 30 days.”

Kim has been appointed acting president until a new chief executive is found.

In early March, Saehan raised more than $60 million in a surprising stock sale that experts said prevented a likely takeover by regulators. Heavy loan losses had prompted regulators to direct the bank to raise capital.

The bank’s thinly-traded shares were unchanged at 47 cents in after-hours trading on the Over the Counter market.