Wilshire Bancorp, Inc (WIBC)

[56Chevy]

Re: missed dividend payments to shareholders. Banks that recieved TARP money from the US Treasury were restricted from paying dividends. Since Wilshire Bancorp took $62.2 million in TARP funds in December 2008 the dividends had to stop.

Contractual or Regulatory Reasons

Some companies are forced to cease dividend payments due to lender or even government entanglements. Banks, for example, cannot pay dividends if they are losing money. A big lender may not loan a company money unless dividend payments are reduced or eliminated, as the lender wants to be sure the company can first pay back the loan. Under the Troubled Asset Relief Program, or TARP, for instance, such restrictions on dividend payments were imposed on banks that borrowed from the government.[/i]

http://www.ehow.com/about_7382649_would-not-declare-pay-dividends_.html

I would expect to see those dividends start again now that they paid the TARP money back...plus its a much healthier ($$) Bank now.

Wilshire Bancorp Announces Repurchase of TARP Warrant From United States Department of the Treasury

Wed Jun 20, 2012 5:17pm EDT

LOS ANGELES, June 20, 2012 (GLOBE NEWSWIRE) -- Wilshire Bancorp, Inc. (Nasdaq:WIBC), the holding company (the "Company") of Wilshire State Bank, announced today that it has repurchased the warrant (the "Warrant") to purchase 949,460 shares of common stock of the Company that was issued to the United States Department of the Treasury (the "Treasury") as part of the Troubled Asset Relief Program ("TARP") Capital Purchase Program. The Warrant was repurchased at a mutually agreed upon price of $760,000. Settlement of the repurchase of the Warrant occurred on June 20, 2012. Following the settlement of the TARP Warrant today, the Treasury has no remaining equity stake in Wilshire Bancorp.

"We are pleased to complete our exit from the TARP program," said Jae Whan (J.W.) Yoo, President and Chief Executive Officer of Wilshire Bancorp. "We believe our ability to retire the TARP preferred stock and Warrant reflects the strong capital and liquidity position we have built and our confidence in the health of the bank going forward."

http://www.reuters.com/article/2012/06/20/idUS210236+20-Jun-2012+GNW20120620

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