Nara Bancorp Inc. and Center Financial Corp. on Friday announced four branches they plan to close after their merger is completed later this year

Nara’s downtown Los Angeles branch will be consolidated into three branches within half a mile in the fashion district: Nara’s Stanford branch and Center’s downtown and San Pedro branches.

Nara’s Garden Grove branch will be consolidated into Center’s Garden Grove branch that’s within half a mile. Nara’s Gardena branch will be consolidated into Center’s Gardena branch located within a mile. In addition, Center plans to consolidate its Oakland Chinatown branch with Center’s main Oakland branch that’s within half a mile.

Nara and Center Financial in early December announced their merger, which will create the nation’s largest Korean-American bank. The combined institution will have pro-forma assets of $5.3 billion and deposits of $4 billion. There now will be 45 branches, located primarily in California. The transaction is expected to close during the second half of this year.

“The planned consolidation of the branches is based on a comprehensive evaluation of geographically overlapping facilities,” said Nara Chief Executive Alvin D. Kang, who will serve in the same capacity of the combined company. “We placed the greatest emphasis on our collective customers’ convenience and accessibility. Other considerations included space capacity, cost efficiencies and remaining lease terms.”

In midday trading on the Nasdaq, Nara shares were up 2 cents, or less than 1 percent, to $8.64, and Center’s shares were unchanged.