Center Financial (CLFC) Stock Price, News & Analysis

Center Financial Corporation (Center Financial) serves as the holding company for Center Bank (the Bank). The Bank is a state-chartered financial institution. The Bank provides financial services for small to medium-sized business owners, primarily in Southern California. The Bank specializes in commercial loans, which are secured by real property, to small business customers. As of December 31, 2010, the Bank had 22 full-service branch offices, 16 of which are located in Southern California. Center Financial’s only other direct subsidiary is Center Capital Trust I. On April 16, 2010, the Bank acquired Innovative Bank. On April 16, 2010, the Bank assumed the banking operations of Innovative Bank from the Federal Deposit Insurance Corporation (FDIC) under a purchase and assumption agreement. Through this agreement, Center Bank now operates three additional branches in California. In November 2011, Nara Bancorp, Inc. merged with Center Financial Corporation.