News Release

Contacts:	Douglas G. Goddard	Angie Yang
	Interim CFO	SVP, Investor Relations
	213-401-2311	213-251-2219
	douglasg@centerbank.com	angiey@centerbank.com

CENTER FINANCIAL REPORTS $6.0 MILLION NET INCOME, $0.13 EPS

FOR 2010 THIRD QUARTER

-- Significant Reductions in NPAs and Improving Asset Quality Trends Highlight

Company’s Third Consecutive Quarter of Core Profitable Operations --

LOS ANGELES – October 27, 2010 – Center Financial Corporation (NASDAQ: CLFC), today reported financial results for its 2010 third quarter, posting net income of $6.0 million, equal to $0.13 per diluted common share.  This compares with a net loss of $2.5 million, or $0.19 per common share, in the year-ago third quarter.

“We are pleased with the continued positive trends in our operations that collectively contributed to a strong 2010 third quarter, said Jae Whan (J.W.) Yoo, president and chief executive officer.  “Asset quality metrics continued to improve, with reductions across the board in our watch list loans, nonperforming loans and early stage delinquencies.  This resulted in a lower level of provisioning for loan losses this quarter compared to prior quarters.  Importantly, our business development efforts have led to a strong ramp up in our loan pipeline, particularly in SBA lending.  Notwithstanding the ongoing challenges in the economic environment, we are more optimistic in our ability to sustain profitability in the coming quarters and believe Center Bank is strongly positioned for the opportunities ahead.”

2010 THIRD QUARTER SUMMARY:

■ Net income totaled $6.0 million, equal to $0.13 per diluted common share;

■ Income tax benefit of $846,000, reflecting a reduction of the valuation allowance against the company’s deferred tax asset;

■ Capital ratios further strengthened with total risk-based capital ratio of 19.32% and Tier 1 leverage capital ratio of 12.55% at September 30;

■ Non-covered nonperforming loans, excluding the SBA guarantee, declined by $24.1 million to $40.2 million at September 30;

■ Delinquent non-covered loans 30 to 89 days past due down slightly to $11.5 million;

■ Net charge-offs of $8.0 million, included a total of $1.5 million in recoveries during the quarter;

■ Non-covered loans of $1.47 billion were relatively stable at September 30;

■ Provision for loan losses equaled $4.0 million, and positive asset quality trends led to a modest reduction in the allowance for loan losses to 3.71% of gross non-covered loans at September 30; the ratio of the allowance to non-covered nonperforming loans increased to 126.1%;

■ Total deposits relatively stable at $1.80 billion, with noninterest bearing deposits representing 21.4% of total deposits;

■ Annualized average cost of deposits decreased 6 basis points to 1.13%;

■ Total assets declined by only $7.7 million to $2.27 billion; and

■ Net interest margin narrowed 22 basis points on a sequential basis to 3.31% for Q3 2010.

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Center Financial Corporation	NASDAQ: CLFC
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ASSET QUALITY

Non-covered nonperforming loans at September 30, 2010 declined to $43.2 million, reflecting a $24.3 million reduction from $67.5 million at June 30, 2010.   Excluding the guaranteed portion of SBA loans, non-covered nonperforming loans equaled $40.2 million and $64.2 million, respectively, at September 30 and June 30, 2010.  The company attributed the reduction in non-covered nonperforming loans to three main factors.  First, a $1.5 million note sale was completed during the quarter.  Second, one loan relationship with an outstanding balance of $6.6 million was upgraded to accrual status during the quarter.  Third, two non-covered nonperforming lending relationships were transferred to loans held for sale at the lower of cost or fair market value as of September 30, 2010.  Subsequent to the close of the current third quarter, note sales were completed for these two relationships, which will result in a $12.8 million reduction in loans held for sale in the 2010 fourth quarter financial statements.

Total non-covered nonperforming assets at the end of the 2010 third quarter, including $4.5 million in other real estate owned (OREO), equaled $47.7 million.  This compares with total non-covered nonperforming assets at June 30, 2010 of $70.3 million, including $2.8 million in OREO.  Total non-covered nonperforming assets declined to 3.24% of gross non-covered loans and OREO at September 30, 2010, compared with 4.76% at June 30, 2010.

Delinquent non-covered loans 30 to 89 days past due declined marginally to $11.5 million at the close of the 2010 third quarter from $11.6 million at June 30, 2010.  Performing troubled debt restructurings (TDRs) that are not accounted for in non-covered nonaccrual or delinquent loans equaled $23.9 million at September 30, 2010, compared with $17.7 million at June 30, 2010.

Loans acquired in the previously announced FDIC-assisted transaction are subject to a loss sharing agreement and are referred to as “covered loans.”  Covered loans are reported separately in the consolidated statements of financial condition.

Net charge-offs during the 2010 third quarter equaled $8.0 million, compared with $7.6 million in the preceding second quarter.  Total recoveries of $1.5 million and $2.9 million in the 2010 third and second quarters, respectively, exemplifies the company’s proactive actions to address the credit situation.  As a percentage of average loans on an annualized basis, net charge-offs year-to-date equaled 1.79% of average loans.

Center Financial recorded a provision for loan losses of $4.0 million for the 2010 third quarter.  The improved asset quality metrics resulted in a reduction in the allowance for loan losses to $54.5 million at September 30, 2010, representing 3.71% of gross non-covered loans.  At June 30, 2010, the allowance for loan losses totaled $58.4 million, equal to 3.97% of gross non-covered loans.

LOANS & DEPOSITS

Non-covered loans were relatively stable at $1.47 billion at September 30, 2010 and June 30, 2010.  Declining balances in the commercial real estate and commercial loans were largely offset by increased balances in trade finance, SBA and consumer loans.  Covered loans at September 30, 2010 declined to $112.7 million from $122.4 million at June 30, 2010.  Total loans at September 30, 2010 amounted to $1.58 billion.

Total deposits equaled $1.79 billion at September 30, 2010, down by only $7.7 million from $1.80 billion at June 30, 2010.  Noninterest-bearing demand deposits accounted for 21.4% of total deposits at September 30, 2010 and 22.1% at June 30, 2010.  The company’s loan-to-deposit ratio equaled 85.1% at September 30, 2010 and 85.4% at June 30, 2010.

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Center Financial Corporation	NASDAQ: CLFC
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The average cost of interest-bearing deposits continued to decline, decreasing to 1.44% for the three months ended September 30, 2010 from 1.52% for the three months ended June 30, 2010.  Total cost of deposits declined to 1.13% for the 2010 third quarter, compared with 1.19% for the 2010 second quarter.

BALANCE SHEET SUMMARY & CAPITAL

Total assets decreased to $2.27 billion at September 30, 2010 from $2.28 billion at June 30, 2010.  Average interest-earning assets for the 2010 third quarter equaled $2.05 billion, compared with $1.98 billion for the 2010 second quarter.

Total shareholders’ equity at September 30, 2010 increased to $270.7 million from $265.2 million at June 30, 2010.  Tangible common equity as a percentage of tangible assets, which is a non-GAAP financial measure, increased to 9.52% at September 30, 2010 from 9.25% at June 30, 2010.  With its third consecutive profitable quarter, Center Financial’s capital position continued to strengthen.  Total risk-based capital ratio increased to 19.32%, Tier 1 risk-based capital ratio advanced to 18.04% and Tier 1 leverage ratio expanded to 12.55%.

2010 THIRD QUARTER OPERATIONAL HIGHLIGHTS

Net interest income before provision for loan losses totaled $17.1 million for the 2010 third quarter, compared with $17.5 million for the 2010 second quarter and $14.8 million in the prior-year third quarter.  The average yield on loans for the 2010 third quarter rose to 5.86% from 5.72% for the preceding second quarter, but was down when compared with 5.91% for the 2009 third quarter.

The company’s net interest margin (NIM) for the 2010 third quarter contracted 22 basis points to 3.31% from 3.53% in the immediately preceding second quarter, but was higher when compared with the 2009 third quarter NIM of 2.85%.   The company noted that a final adjustment to interest income related to investment securities acquired in the Innovative Bank transaction was identified subsequent to filing its June 30, 2010 financial statements.  This adjustment was recorded in the third quarter of 2010 and reduced investment income for the quarter ended September 30, 2010 by approximately $446,000, which adversely impacted the company’s yield on investment securities.

Noninterest income for the 2010 third quarter totaled $4.4 million, including a $257,000 gain on sale of loans.  In the preceding second quarter, noninterest income totaled $11.1 million, including a $5.9 million bargain purchase gain and a gain on the sale of loans of $1.2 million.  Noninterest income for the prior-year third quarter amounted to $3.3 million, for which there were no comparable gains.

Total noninterest expense for the 2010 third quarter rose less than 1% to $12.4 million from $12.3 million in the preceding second quarter primarily reflecting non-recurring expenses associated with the full systems integration and branch closure and improvements related to the FDIC-assisted transaction.  Total noninterest expense for the prior-year third quarter was $11.7 million.  The company’s efficiency ratio for the 2010 third quarter was 57.61%.  This compares with 2010 second quarter efficiency ratio of 43.01%, which benefited from a $5.9 million bargain purchase gain, and an efficiency ratio of 64.53% for the 2009 third quarter.

For the 2010 third quarter, Center Financial posted net income of $6.0 million, or $0.13 per diluted common share, after a loan loss provision of $4.0 million and an income tax benefit of $846,000.  The company said its income tax benefit for the quarter was due to a reduction in the deferred tax asset valuation allowance by approximately $2.0 million from the June 30, 2010 balance.  Net income for the preceding quarter amounted to $7.5 million, or $0.17 per diluted common share, which included a loan loss provision of $5.0 million, an income tax provision of $3.8 million and a bargain purchase gain of $5.9 million.  In the 2009 third quarter, the company incurred a net loss of $2.5 million, or $0.19 per common share, after a loan loss provision of $10.6 million and an income tax benefit of $1.6 million.

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Center Financial Corporation	NASDAQ: CLFC
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For the 2010 third quarter, Center Financial posted a return on average assets (ROAA) of 1.04% and a return on average equity (ROAE) of 8.83%.  This compares with an ROAA of 1.38% and an ROAE of 11.43% for the 2010 second quarter.  For the year-ago third quarter, the company reported a loss on average assets equal to 0.45% and a loss on average equity of 5.01%.

Yoo concluded:  “During the quarter, we completed the systems integration of the former Innovative Bank (IB) operations.  The IB Fashion District branch was closed, and our customers were transferred to one of two Center Bank branches located within a mile’s distance.  We are optimistic about our growth prospects in Northern California as we recently launched a new marketing campaign, following the completion of branch improvements.  In October, we reopened our Denver loan production office to further expand our SBA business development activities.  These efforts will be important components of our overall strategic objectives as we dedicate more of our attention to growing our earnings capacity and capitalizing on the opportunities in the current environment.”

Use of Non-GAAP Financial Measures

This news release includes “non-GAAP financial measures” within the meaning of the Securities and Exchange Commission rules. Tangible common equity per common share and tangible common equity to tangible assets are non-GAAP financial measures.  Tangible common equity was calculated as total shareholders’ equity less preferred stock and related dividend and accretion of preferred stock discount and net intangible assets.  Tangible common equity to tangible assets represents tangible common equity divided by total assets less net intangible assets. The calculation of tangible common equity may differ among companies in light of diversity in presentation in the marketplace. Management believes that these measures are useful when comparing banks with preferred stock due to TARP funding to banks without preferred stock on their balance sheet and for evaluating a company’s capital levels. This information is being provided in response to market participant interest in these financial metrics. This information is not intended to be considered in isolation or as a substitute for the relevant measures calculated in accordance with U.S. GAAP. The reconciliations of these non-GAAP financial measures to GAAP financial measure included in this news release are attached herein.

Investor Conference Call

The company will host an investor conference call on Thursday, October 28, 2010 at 9 a.m. PDT (12 noon EDT) to review financial results for its 2010 third quarter.  The institutional investment community is invited to participate in the call by dialing 866-783-2145 (domestic) or 857-350-1604 (international) and entering passcode 60011737.  Other interested parties are invited to listen to the live call through a listen-only audio Web broadcast via the Internet in the Investor Relations section of www.centerbank.com.  Listeners are encouraged to visit the Web site at least 15 minutes prior to the start of the scheduled presentation to register, download and install any necessary audio software.  For those who are not available to listen to the live broadcast, the audio broadcast will be archived for one year.  A telephonic replay of the call will be available through Thursday, August 5, 2010 by dialing 888-286-8010 (domestic) or 617-801-6888 (international) and entering replay passcode 24855323.

About Center Financial Corporation

Center Financial Corporation is the holding company of Center Bank, a community bank offering a full range of financial services for diverse ethnic and small business customers.  Founded in 1986 and specializing in commercial and SBA loans and trade finance products, Center Bank has grown to be one of the nation’s leading financial institutions focusing on the Korean-American community, with total assets of $2.27 billion at September 30, 2010.  Headquartered in Los Angeles, Center Bank operates a total of 22 full-service branches and two loan production office.  The company has 16 full-service branches located throughout Southern California and three branches in Northern California.  Center Bank also operates two branches and one loan production office in the Seattle area, one branch in Chicago and a loan production office in Denver.  Center Bank is a California state-

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Center Financial Corporation	NASDAQ: CLFC
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chartered institution and its deposits are insured by the FDIC to the extent provided by law.  For additional information on Center Bank, visit the company’s Web site at www.centerbank.com

This release contains forward-looking statements, which are included in accordance with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements are not guarantees of future performance and involve significant risks and uncertainties, and actual results and performance in future periods may be materially different from any future results or performance suggested by the forward-looking statements in this release. Factors that might cause such differences include, but are not limited to, those identified in our cautionary statements contained in Center Financial Corp.’s Annual Report on Form 10-K, as amended, for the fiscal year ended December 31, 2009 (See Business, and Management’s Discussion and Analysis), and other filings with the Securities and Exchange Commission (SEC) are incorporated herein by reference. These factors include, but are not limited to: the health of the national and California economies; competition in the financial services market for both deposits and loans; the ability of Center Financial and its subsidiaries to increase its customer base; customers’ service expectations; changes in interest rates; loan portfolio performance; the company’s ability to secure buyers for foreclosed properties; the successful integration and operations of the FDIC-assisted acquisition; the company’s ability to sustain profitable operations; the company’s ability to capitalize on strategic growth opportunities; and the company’s ability to enhance its earnings capacity. Such forward-looking statements speak only as of the date of this release. Center Financial expressly disclaims any obligation to update or revise any forward-looking statements found herein to reflect any changes in the company’s expectations of results or any change in events.

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CENTER FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION (Unaudited)

(Dollars in thousands)

	9/30/10		12/31/09
ASSETS
Cash and due from banks	$	33,491	$	34,294
Federal funds sold		198,285		145,810
Interest-bearing deposits in other banks		89,236		52,698
Cash and cash equivalents		321,012		232,802
Securities available for sale, at fair value		290,803		370,427
Non-covered loans held for sale, at the lower of cost or fair value		50,723		23,318
Federal Home Loan Bank and Pacific Coast Bankers Bank stock, at cost		15,642		15,673
Non-covered loans, net of allowance for loan losses of $54,460 as of September 30, 2010 and $58,543 as of December 31, 2009		1,361,051		1,455,824
Covered loans		112,674		-
Premises and equipment, net		13,698		13,368
FDIC loss share receivable		23,652		-
Core deposit intangibles, net		474		-
Customers’ liability on acceptances		1,412		2,341
Non-covered other real estate owned		4,548		4,278
Covered other real estate owned		1,459		-
Accrued interest receivable		5,487		6,879
Deferred income taxes, net		10,095		11,551
Investments in affordable housing partnerships		10,314		11,522
Cash surrender value of life insurance		12,691		12,392
Income tax receivable		16,354		16,140
Prepaid regulatory assessment fees		8,808		11,483
Other assets		6,542		4,802
Total	$	2,267,439	$	2,192,800
LIABILITIES AND SHAREHOLDERS’ EQUITY
Liabilities
Deposits:
Noninterest-bearing	$	383,508	$	352,395
Interest-bearing		1,408,773		1,395,276
Total deposits		1,792,281		1,747,671
Acceptances outstanding		1,412		2,341
Accrued interest payable		5,558		5,803
Other borrowed funds		168,538		148,443
Long-term subordinated debentures		18,557		18,557
Accrued expenses and other liabilities		10,403		13,927
Total liabilities		1,996,749		1,936,742
Commitments and Contingencies		-		-
Shareholders’ Equity
Preferred stock, no par value; 10,000,000 shares authorized; issued and outstanding, 55,000 shares and 128,500 shares as of September 30, 2010 and December 31, 2009, respectively
Series A, cumulative, issued and outstanding, 55,000 shares as of September 30, 2010 and December 31, 2009		53,347		53,171
Series B,  non-cumulative, convertible, issued and outstanding, none and 73,500 shares as of  September 30, 2010 and December 31, 2009, respectively		-		70,000
Common stock, no par value; 100,000,000 and 40,000,000 shares authorized; issued and outstanding, 39,902,811 and 20,160,726 shares (including 65,784 shares and 10,050 of unvested restricted stock) as of September 30, 2010 and December 31, 2009, respectively		187,621		88,060
Retained earnings		26,300		41,314
Accumulated other comprehensive income, net of tax		3,422		3,513
Total shareholders’ equity		270,690		256,058
Total	$	2,267,439	$	2,192,800

CENTER FINANCIAL CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited)

(Dollars in thousands, except per share data)

	Three Months Ended									Nine Months Ended
	9/30/10			6/30/10			9/30/09			9/30/10			9/30/09
Interest and Dividend Income:
Interest and fees on loans	$	22,513		$	21,388		$	23,128		$	64,529		$	72,181
Interest on federal funds sold		127			102			162			289			310
Interest on investment securities		1,499			2,859			2,426			7,302			7,060
Total interest and dividend income		24,139			24,349			25,716			72,120			79,551
Interest Expense:
Interest on deposits		5,137			5,060			9,031			15,658			27,668
Interest on borrowed funds		1,747			1,671			1,736			5,021			5,336
Interest expense on trust preferred securities		155			143			156			438			529
Total interest expense		7,039			6,874			10,923			21,117			33,533
Net interest income before provision for loan losses		17,100			17,475			14,793			51,003			46,018
Provision for loan losses		4,000			5,000			10,561			16,000			54,847
Net interest income (loss) after provision for loan losses		13,100			12,475			4,232			35,003			(8,829	)
Noninterest Income:
Customer service fees		2,043			2,086			2,008			6,161			6,004
Fee income from trade finance transactions		684			720			543			2,062			1,679
Wire transfer fees		321			331			275			933			820
Gain on business acquisition		-			5,900			-			5,900			-
Gain on sale of loans		257			1,203			-			1,460			-
Net gain (loss) on sale of securities available for sale		-			-			(7	)		2,209			(55	)
Loan service fees		565			427			167			1,153			626
Other income		539			391			356			1,279			1,480
Total noninterest income		4,409			11,058			3,342			21,157			10,554
Noninterest Expense:
Salaries and employee benefits		4,653			4,647			4,671			13,640			13,645
Occupancy		1,388			1,437			1,214			4,020			3,644
Furniture, fixtures, and equipment		756			640			713			1,903			1,757
Data processing		832			654			591			1,950			1,708
Legal fees		567			279			174			1,152			824
Accounting and other professional fees		309			546			425			1,170			1,187
Business promotion and advertising		376			415			289			1,048			971
Supplies and communications		440			396			368			1,100			1,096
Security service		320			285			269			840			775
Regulatory assessment		1,073			1,037			642			3,096			2,876
Merger related expenses		-			129			-			129			-
OREO related expenses		170			400			1,152			1,529			1,305
Other operating expenses		1,508			1,408			1,195			3,950			3,807
Total noninterest expense		12,392			12,273			11,703			35,527			33,595
Income (loss) before income tax provision (benefit)		5,117			11,260			(4,129	)		20,633			(31,870	)
Income tax provision (benefit)		(846	)		3,758			(1,605	)		4,400			(13,834	)
Net income (loss)		5,963			7,502			(2,524	)		16,233			(18,036	)
Preferred stock dividends and accretion of preferred stock discount		(748	)		(746	)		(742	)		(31,246	)		(2,211	)
Net income (loss) available to common shareholders		5,215			6,756			(3,266	)		(15,013	)		(20,247	)
Other comprehensive income (loss)		144			1,013			1,365			(91	)		2,991
Comprehensive income (loss)	$	6,107		$	8,515		$	(1,159	)	$	16,142		$	(15,045	)
Earnings (loss) per common share:
Basic	$	0.13		$	0.17		$	(0.19	)	$	(0.44	)	$	(1.21	)
Diluted	$	0.13		$	0.17		$	(0.19	)	$	(0.44	)	$	(1.21	)
Average common shares outstanding:
Basic		39,902,114			39,895,181			16,788,950			33,762,755			16,787,986
Diluted		39,912,160			39,908,346			16,788,950			33,762,755			16,787,986

CENTER FINANCIAL CORPORATION

SELECTED FINANCIAL DATA (Unaudited)

(Dollars in thousands)

	Three Months Ended
	9/30/10					6/30/10					9/30/09
	Average Balance		Annualized Average Rate/Yield			Average Balance		Annualized Average Rate/Yield			Average Balance		Annualized Average Rate/Yield
Assets:
Interest-earning assets:
Loans	$	1,523,012		5.86	%	$	1,498,956		5.72	%	$	1,553,814		5.91	%
Federal funds sold		228,116		0.22			185,860		0.22			254,853		0.25
Investments		300,231		1.98			298,392		3.84			251,891		3.82
Total interest-earning assets		2,051,359		4.67			1,983,208		4.92			2,060,558		4.95
Noninterest-earning assets:
Cash and due from banks		109,237					89,749					84,367
Bank premises and equipment, net		13,091					12,845					13,975
Customers’ acceptances outstanding		2,100					2,353					2,587
Accrued interest receivables		5,012					6,165					7,427
Other assets		102,399					84,064					62,418
Total noninterest-earning assets		231,839					195,176					170,774
Total assets	$	2,283,198				$	2,178,384				$	2,231,332
Liabilities and Shareholders’ Equity:
Interest-bearing liabilities:
Deposits:
Money market and NOW accounts	$	519,943		1.14	%	$	475,608		1.15	%	$	496,907		1.75	%
Savings		92,288		2.53			92,390		2.69			80,529		3.24
Time certificates of deposit over $100,000		505,758		1.38			499,851		1.46			597,068		2.64
Other time certificates of deposit		301,881		1.70			265,746		1.91			341,459		2.56
		1,419,870		1.44			1,333,595		1.52			1,515,963		2.36
Other borrowed funds		169,844		4.08			167,541		4.00			159,775		4.31
Long-term subordinated debentures		18,557		3.31			18,557		3.09			18,557		3.34
Total interest-bearing liabilities		1,608,271		1.74			1,519,693		1.81			1,694,295		2.56
Noninterest-bearing liabilities:
Demand deposits		379,286					379,059					322,370
Total funding liabilities		1,987,557		1.41	%		1,898,752		1.45	%		2,016,665		2.15	%
Other liabilities		27,722					18,488					14,611
Total noninterest-bearing liabilities		407,008					397,547					336,981
Shareholders’ equity		267,919					261,144					200,056
Total liabilities and shareholders’ equity	$	2,283,198				$	2,178,384				$	2,231,332
Net interest income
Cost of deposits				1.13	%				1.19	%				1.95	%
Net interest spread				2.93	%				3.11	%				2.39	%
Net interest margin				3.31	%				3.53	%				2.85	%

CENTER FINANCIAL CORPORATION

SELECTED FINANCIAL DATA (Unaudited)

(Dollars in thousands)

	Nine Months Ended
	9/30/10					9/30/09
			Annualized					Annualized
	Average		Average			Average		Average
	Balance		Rate/Yield			Balance		Rate/Yield
Assets:
Interest-earning assets:
Loans	$	1,539,882		5.60	%	$	1,614,596		5.98	%
Federal funds sold		173,785		0.22			180,436		0.23
Investments		326,820		2.99			228,200		4.14
Total interest-earning assets		2,040,487		4.73			2,023,232		5.26
Noninterest - earning assets:
Cash and due from banks		97,395					59,980
Bank premises and equipment, net		13,099					14,366
Customers’ acceptances outstanding		2,283					3,166
Accrued interest receivables		5,890					7,108
Other assets		82,536					54,063
Total noninterest-earning assets		201,203					138,683
Total assets	$	2,241,690				$	2,161,915
Liabilities and Shareholders’ Equity:
Interest-bearing liabilities:
Deposits:
Money market and NOW accounts	$	500,282		1.11	%	$	480,777		1.94	%
Savings		93,068		2.61			65,254		3.40
Time certificates of deposit over $100,000		511,853		1.55			663,781		2.40
Other time certificates of deposit		275,656		1.82			222,982		4.27
		1,380,859		1.52			1,432,794		2.58
Other borrowed funds		166,811		4.02			168,199		4.24
Long-term subordinated debentures		18,557		3.16			18,557		3.81
Total interest-bearing liabilities		1,566,227		1.80			1,619,550		2.77
Noninterest-bearing liabilities:
Demand deposits		370,831					311,058
Total funding liabilities		1,937,058		1.46	%		1,930,608		2.32	%
Other liabilities		42,879					18,757
Total noninterest-bearing liabilities		413,710					329,815
Shareholders’ equity		261,753					212,550
Total liabilities and shareholders’ equity	$	2,241,690				$	2,161,915
Net interest income
Cost of deposits				1.20	%				2.12	%
Net interest spread				2.92	%				2.49	%
Net interest margin				3.34	%				3.04	%

CENTER FINANCIAL CORPORATION

SELECTED FINANCIAL DATA (Unaudited)

(Dollars in thousands)

	As of the Dates Indicated
	9/30/10			6/30/10			3/31/10			12/31/09			9/30/09
Deposits
Demand deposits (noninterest-bearing)	$	383,508		$	397,598		$	360,520		$	352,395		$	332,541
Money market accounts and NOW		497,362			505,217			445,999			528,331			503,006
Savings		89,067			94,486			90,294			86,567			77,698
		969,937			997,301			896,813			967,293			913,245
Time deposits
Less than $100,000		302,745			303,582			227,909			256,020			322,141
$100,000 or more		519,599			499,112			500,590			524,358			574,829
Total deposits	$	1,792,281		$	1,799,995		$	1,625,312		$	1,747,671		$	1,810,215
As a percentage of total deposits:
Demand deposits (noninterest-bearing)		21.4	%		22.1	%		22.2	%		20.2	%		18.4	%
Money market accounts and NOW		27.8	%		28.1	%		27.4	%		30.2	%		27.8	%
Savings		5.0	%		5.2	%		5.6	%		5.0	%		4.2	%
		54.1	%		55.4	%		55.2	%		55.4	%		50.4	%
Time deposits
Less than $100,000		16.9	%		16.9	%		14.0	%		14.6	%		17.8	%
$100,000 or more		29.0	%		27.7	%		30.8	%		30.0	%		31.8	%
Total deposits		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%

CENTER FINANCIAL CORPORATION

SELECTED FINANCIAL DATA (Unaudited)

(Dollars in thousands)

	As of the Dates Indicated
	9/30/10			6/30/10			3/31/10			12/31/09			9/30/09
Non-covered Loans
Real Estate:
Construction	$	14,987		$	15,052		$	16,620		$	21,014		$	21,800
Commercial		918,882			937,792			985,479			1,007,794			1,095,858
Commercial		279,450			296,195			299,738			295,289			290,675
Trade Finance		65,666			53,342			43,370			39,290			43,602
SBA		69,029			60,531			65,460			49,933			43,969
Consumer and other		119,187			111,919			111,772			125,560			97,841
Non-covered Loans		1,467,201			1,474,831			1,522,439			1,538,880			1,593,745
Less:
Allowance for loan losses		54,460			58,435			61,011			58,543			63,978
Deferred loan fees		31			188			290			331			483
Discount on SBA loans retained		936			997			799			864			931
Net Non-covered Loans	$	1,411,774		$	1,415,211		$	1,460,339		$	1,479,142		$	1,528,353
As a percentage of non-covered loans:
Real Estate:
Construction		1.0	%		1.0	%		1.1	%		1.4	%		1.4	%
Commercial		62.6	%		63.6	%		64.7	%		65.5	%		68.8	%
Commercial		19.0	%		20.1	%		19.7	%		19.2	%		18.2	%
Trade Finance		4.5	%		3.6	%		2.8	%		2.6	%		2.7	%
SBA		4.7	%		4.1	%		4.3	%		3.2	%		2.8	%
Consumer and other		8.1	%		7.6	%		7.4	%		8.1	%		6.1	%
Non-covered Loans		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%

Covered Loans

	9/30/10					6/30/10
	Amount		%			Amount		%
Real Estate:
Construction	$	-		0.0	%	$	-		0.0	%
Commercial		73,043		64.8	%		76,280		62.3	%
Commercial		9,698		8.6	%		12,388		10.1	%
Trade Finance		-		0.0	%		-		0.0	%
SBA		29,022		25.8	%		32,438		26.5	%
Consumer and other		911		0.8	%		1,256		1.0	%
Covered Loans	$	112,674		100.0	%	$	122,362		100.0	%

Total Loans

	9/30/10					6/30/10
	Amount		%			Amount		%
Real Estate:
Construction	$	14,987		0.9	%	$	15,052		0.9	%
Commercial		991,925		62.8	%		1,014,072		63.5	%
Commercial		289,148		18.3	%		308,583		19.3	%
Trade Finance		65,666		4.2	%		53,342		3.3	%
SBA		98,051		6.2	%		92,969		5.8	%
Consumer and other		120,098		7.6	%		113,175		7.1	%
Total Loans	$	1,579,875		100.0	%	$	1,597,193		100.0	%

CENTER FINANCIAL CORPORATION

SELECTED FINANCIAL DATA (Unaudited)

(Dollars in thousands)

	9/30/10			6/30/10			12/31/09			9/30/09
Non-covered nonperforming loans:
Construction Real Estate	$	4,029		$	4,540		$	8,441		$	5,309
Commercial Real Estate		28,639			51,057			42,678			25,167
Commercial		7,631			7,445			8,290			8,236
Consumer		229			281			339			909
Trade Finance		-			1,196			1,498			1,196
SBA		2,653			2,972			2,207			2,185
Total non-covered nonperforming loans		43,181			67,491			63,453			43,002
Other real estate owned		4,548			2,778			4,278			4,813
Non-covered nonperforming assets		47,729			70,269			67,731			47,815
Guaranteed portion of nonperforming loans		3,022			3,250			2,816			3,134
Total non-covered nonperforming assets, net of guarantees	$	44,707		$	67,019		$	64,915		$	44,681
Performing TDR’s not included above	$	23,898		$	17,709		$	4,414		$	4,400
Ratios:
Non-covered nonperforming loans to gross non-covered loans		2.94	%		4.58	%		4.12	%		2.70	%
Non-covered nonperforming assets to gross non-covered loans and other real estate owned		3.24			4.76			4.39			2.99
Delinquency:
Delinquent loans 30-89 days past due	$	11,521		$	11,582		$	13,439		$	15,638
Total nonperforming loans		43,181			67,491			63,453			43,002
Total delinquent non-covered loans	$	54,702		$	79,073		$	76,892		$	58,640
Covered nonperforming assets:
Covered nonperforming loans	$	10,890		$	13,358		$	-		$	-
Covered other real estate owned		1,459			1,560			-			-
Total covered nonperforming assets	$	12,349		$	14,918		$	-		$	-
Ratios:
Covered nonperforming loans to covered loans		9.67	%		10.92	%		-	%		-	%
Covered nonperforming assets to total assets		0.54			0.66			-			-
Total nonperforming assets:
Total nonperforming loans	$	54,071		$	80,849		$	63,453		$	43,002
Other real estate owned		6,007			4,338			4,278			4,813
Total nonperforming assets	$	60,078		$	85,187		$	67,731		$	47,815
Ratios:
Nonperforming loans to total gross loans		3.42	%		5.06	%		4.12	%		2.70	%
Nonperforming assets to total assets		2.65			3.74			3.09			2.17

CENTER FINANCIAL CORPORATION

SELECTED FINANCIAL DATA (Unaudited)

(Dollars in thousands)

	Nine Months Ended and as of 9/30/10			Six Months Ended and as of 6/30/10			Three Months Ended and as of 3/31/10			Year Ended and as of 12/31/09			Nine Months Ended and as of 9/30/09
Balances
Average total non-covered loans outstanding during the period	$	1,498,908		$	1,517,404		$	1,534,369		$	1,637,703		$	1,661,384
Total non-covered loans outstanding at end of period	$	1,466,234		$	1,473,646		$	1,521,350		$	1,537,685		$	1,592,331
Allowance for Loan Losses:
Balance at beginning of period	$	58,543		$	58,543		$	58,543		$	38,172		$	38,172
Charge-offs:
Construction Real Estate		419			-			-			6,844			5,078
Commercial Real Estate		16,178			10,040			3,659			23,742			7,173
Commercial		5,011			3,747			532			23,795			15,305
Consumer		563			238			190			1,599			1,298
SBA		1,008			872			331			941			786
Trade Finance		1,448			251			-			911			-
Total charge-offs		24,627			15,148			4,712			57,832			29,640
Recoveries
Construction Real Estate		123			-			-			-			-
Commercial Real Estate		1,357			105			43			-			-
Commercial		2,817			2,789			53			269			253
Consumer		96			66			44			394			299
SBA		151			80			40			67			46
Trade Finance		-			-			-			1			1
Total recoveries		4,544			3,040			180			731			599
Net loan charge-offs		20,083			12,108			4,532			57,101			29,041
Provision for loan losses		16,000			12,000			7,000			77,472			54,847
Balance at end of period	$	54,460		$	58,435		$	61,011		$	58,543		$	63,978
Ratios:
Net loan charge-offs to average non-covered loans*		1.79	%		1.61	%		1.20	%		3.49	%		2.33	%
Provision for loan losses to average total non-covered loans*		1.43			1.59			1.85			4.73			4.40
Allowance for loan losses to gross non-covered loans at end of period		3.71			3.97			4.01			3.81			4.01
Allowance for loan losses to non-covered nonperforming loans		126.1			86.6			86.6			92.3			148.8
Net loan charge-offs to allowance for loan losses at end of period*		49.30			41.78			30.13			97.54			60.52
Net loan charge-offs to provision for loan losses		125.52			100.90			64.74			73.71			52.95
* Ratios are annualized for comparability purposes

	Three Months Ended												Nine Months Ended
	9/30/10			6/30/10			3/31/10			9/30/09			9/30/10			9/30/09
Performance ratios:
Return (loss) on average assets		1.04	%		1.38	%		0.53	%		(0.45	) %		0.97	%		(1.12	) %
Return (loss) on average equity		8.83			11.43			4.34			(5.01	)		8.29			(11.35	)
Efficiency ratio		57.61			43.01			49.12			64.53			49.23			59.38
Net loans to total deposits at period end		85.06			85.38			89.85			84.43			85.06			84.43
Net loans to total assets at period end		67.23			67.49			70.15			69.41			67.23			69.41
Capital ratios:
Leverage capital ratio
Consolidated Company		12.55	%		12.38	%		12.82	%		9.45	%
Center Bank		12.31			12.09			12.46			9.03
Tier 1 risk-based capital ratio
Consolidated Company		18.04			17.19			16.94			12.14
Center Bank		17.68			16.77			16.45			11.58
Total risk-based capital ratio
Consolidated Company		19.32			18.47			18.23			13.42
Center Bank		18.96			18.05			17.73			12.86

CENTER FINANCIAL CORPORATION

RECONCILIATION OF GAAP FINANCIAL MEASURES TO NON-GAAP FINANCIAL MEASURES

(Unaudited)

(Dollars in thousands, except per share data)

	9/30/10			12/31/09
Total shareholders’ equity	$	270,690		$	256,058
Less:
Preferred stock		(53,347	)		(123,171	)
Common stock warrant		(1,026	)		(1,026	)
Intangible assets, net		(474	)		-
Tangible common equity	$	215,843		$	131,861
Total assets	$	2,267,439		$	2,192,800
Less : Intangible assets, net		(474	)		-
Tangible assets	$	2,266,965		$	2,192,800
Common shares outstanding		39,902,811			20,160,726
Tangible common equity per common share	$	5.41		$	6.54
Tangible common equity to tangible assets		9.52	%		6.01	%