Business Segment Reporting

3 Months Ended

Mar. 31, 2014

Business Segment Reporting

Business Segment Reporting

Note 10. Business Segment Reporting

With the recent acquisitions and integrations of BankAsiana and Saehan Bancorp, the Company has reassessed its classification of its segment reporting units under ASC 280 “Segment Reporting” to better reflect how the Company is now managed and how information is internally reviewed.  Based on this internal evaluation the Company determined that the previously reported three business segments of “Banking Operation”, “Small Business Administration Lending Services”, and “Trade Finance Services” are no longer applicable.   The Company is now managed as a single unit. The financial performance of the Company is reviewed by the chief operating decision maker on an aggregated basis and financial and strategic decisions are also made based on the Company as a whole.  We now consider “Banking Operations” to be our single combined operating segment which raises funds from deposits and borrowings for loans and investments, and provides lending products, including construction, real estate, commercial, and consumer loans to its customers.