BBCN Bancorp's (Nasdaq: BBCN) board faced relentless internal and external pressure to pursue a merger with Hanmi Financial (Nasdaq: HAFC), even as BBCN was making progress in talks to buy Wilshire Bancorp (Nasdaq: WIBC).

BBCN agreed in early December to buy Wilshire for $1 billion in a deal that will combine Los Angeles institutions and cement the surviving company's status as the nation's biggest Korean-American bank. Hanmi attempted to derail the merger, offering to merge with BBCN in a deal valued at $1.6 billion.

Subscribe Now

Complete access to real-time information and analysis of news and trends in the industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.