Nara Bancorp Appoints Alvin D. Kang as New Chief Financial Officer of the Company and Nara Bank
July 05 2005 - 8:17PM
Business Wire
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."
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