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Saturday, Feb 4, 2023

Earnings: Wilshire Beats, BBCN Meets Street Estimates

Koreatown’s Wilshire Bancorp Inc. reported second-quarter earnings Monday that beat Wall Street expectations by 20 percent. The bank reported earnings of $18.6 million (24 cents a share), exceeding analyst predictions of 20 cents a share. Revenue was $51.8 million, higher than the $48.6 million forecasted by analysts.

Wilshire announced earnings after markets closed Monday. The company’s shares closed the day at $10.13, up 1.4 percent. There was no change in after-hours trading.

Fellow Koreatown bank BBCN Bancorp Inc. also reported earnings after markets closed Monday. BBCN announced earnings of $21.4 million (27 cents a share), right in line with analyst predictions. The bank bring in $76.3 million in revenue, down slightly from the $77.9 million analysts expected.

BBCN, which is also listed on the Nasdaq, closed the day at $14.75, up 1.7 percent for the day, with no after-hours trading.

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