Nara Bancorp (NASDAQ:NARAE)
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Nara Bancorp, Inc. (Nasdaq:NARAE) and its subsidiary
Nara Bank today announced that Mr. Alvin D. Kang, Executive Vice
President and Chief Financial Officer of Los Angeles-based Broadway
Financial Corporation, the holding company of Broadway Federal Bank
f.s.b., Executive Vice President, Chief Operating and Chief Financial
Officer of Broadway Federal Bank, and a 34-year financial services
veteran, has been appointed to serve as the new Chief Financial
Officer of Nara Bancorp and Nara Bank. Mr. Kang is expected to start
in his new position at Nara on or about August 1, 2005.
Ho Yang, Nara Bank and Bancorp's president and chief executive
officer, said, "I am looking forward to the arrival of Mr. Kang and
working with him. He adds an important component to our management
team. His broad experience will be instrumental in further
strengthening the bank for future growth and success."
Mr. Kang has worked for Broadway Financial Corporation, the
holding company for Broadway Federal Bank, since 2001 where he played
a lead operating and financial role that enabled the Bank to achieve
record earnings for the past three years. Prior to joining Broadway
Federal, Mr. Kang served as a senior officer of an investment banking
and consulting firm, where he served as the lead executive on merger
and acquisition transactions, and as an audit partner of KPMG LLP as
well as Ernst & Young LLP in their Los Angeles offices. Mr. Kang was
with KPMG LLP for 26 years during which time he has served as lead
partner in charge of the Asian Business Group and has served as lead
partner on audits of major financial institutions in Los Angeles
including Home Savings, Glendale Federal, Coast Savings, and First
Federal Bank of Santa Monica.
About Nara Bancorp, Inc.
Nara Bancorp, Inc. is the parent company of Nara Bank, which was
founded in 1989. Nara Bank is a full-service community bank
headquartered in Los Angeles, with twenty-five branches and offices in
the United States and one representative office in Seoul, Korea. Nara
Bank operates full-service branches in California and New York, with
loan production offices in California, Washington, Colorado, Texas,
Georgia, Illinois, New Jersey, and Virginia. Nara Bank was founded
specifically to serve the needs of Korean-Americans, one of the
fastest-growing Asian ethnic communities over the past decade.
Presently, Nara Bank serves a diverse group of customers mirroring its
communities. Nara Bank specializes in core business banking products
for small and medium-sized companies, with emphasis in commercial real
estate and business lending, SBA lending and international trade
financing. Nara Bank is a member of the FDIC and is an Equal
Opportunity Lender. For more information on Nara Bank, call our Los
Angeles office at 213-639-1700 or New York office at 212-279-2790 or
visit our website at www.narabank.com. Nara Bancorp, Inc. stock is
listed on Nasdaq under the symbol "NARAE."