Wilshire Bancorp Inc. provided earnings guidance for the year 2013. The company expects that effective tax rate will remain in these appropriate ranges for the rest of 2013. The company expects to continue delivery a strong level of profitability for 2013.

Wilshire Bancorp Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2013. The company reported net income available to common shareholders of $11.6 million, or $0.16 per diluted common share, for the quarter ended March 31, 2013. This compares to net income available to common shareholders of $17.9 million, or $0.25 per common share, for the same period of the prior year, and net income of $15.2 million, or $0.21 per common share, for the fourth quarter of 2012. Pre-tax, pre-provision income (PTPP)was $17.0 million for the first quarter of 2013, compared with $16.1 million in the first quarter of 2012, and $11.6 million in the fourth quarter of 2012. Return on average assets was 1.70% against 2.49% a year ago. Return on average equity was 13.3% against 20.89% a year ago. Net interest income before credit for losses on loans and loan commitments totaled $25.6 million for the first quarter of 2013, an increase of 4.6% from $24.4 million for the first quarter of 2012, and unchanged from the fourth quarter of 2012. The increase from the prior year was primarily due to a reduction in interest expense on deposits. Income before income taxes was $16,973,000 against $16,098,000 a year ago. Book value per common share was $4.85 against $3.65 a year ago. For the first quarter ended March 31, 2013, the company reported total charge-offs loans of $5,589,000 against $4,364,000 a year ago.

Wilshire Bancorp Inc. (NasdaqGS:WIBC) is seeking acquisition opportunities. "We continue to have a very strong capital position and our operations are generating additional capital each quarter. Accordingly, we have initiated a more active capital management plan designed to both invest in the growth of our franchise and return excess capital to shareholders. The first step in this plan was the authorization of a program to repurchase up to 5% of our outstanding common shares. We are actively evaluating other uses for our capital including but not limited to the potential reinstatement of a common stock dividend, investments in de novo branches, and strategic acquisitions. We are optimistic that our more active capital management plan will create additional value for shareholders going forward," said Jae Whan Yoo, President and Chief Executive Officer of Wilshire Bancorp.