Center Financial Corp. said Wednesday it settled all disputes with First Intercontinental Bank concerning its cancelled acquisition of the Georgia commercial bank, It will pay Intercontinental $100,000 but not admit any wrongdoing.

First Intercontinental filed suit in April against the L.A.-based holding company for Center Bank, alleging breach of a September 2007 agreement in which Center Financial was to acquire First Intercontinental Bank for $65.2 million. Center Financial, which primarily targets the Korean-American community, subsequently filed a countersuit.

Prior to the announcement, Center Financial shares closed down 23, or 3.5 percent, to $6.37.