LOS ANGELES -- (Business Wire)

Pacific City Financial Corporation (the “Company”) (OTCQB: PFCF), the holding company of Pacific City Bank, today announced the appointment of Kwang Jin Chung as the new Chairman of the Board of Pacific City Financial Corporation and its wholly owned subsidiary, Pacific City Bank (“Bank”). Chairman Chung replaces Suk Won Youn, who resigned the chairmanship of both companies for personal reasons, but will continue to serve as a director of both Company and Bank. Chairman Chung is one of the founding members of Bank and has been a member of the board of directors of Bank and Company since inception. Mr. Chung served as Chairman of the Board between 2006 and 2009. Chairman Chung is the President and CEO of KEI Trading Co., a wholesaler of electronic products in California and its neighboring states.

Additionally, in recognition of, and appreciation for, the continued support of our shareholders, Company’s board of directors has declared a one-time 10% stock dividend payable on March 20, 2015, to shareholders of record as of the close of business on February 27, 2015, with cash being paid for any resulting fractional shares. Commenting on the stock dividend, Chairman Chung stated, “We are very pleased with the performance of the Company in 2014 and we are optimistic about 2015. This dividend reflects the significant accomplishments of the Company and Pacific City Bank and rewards our loyal shareholders for their continued support and confidence.”

About Pacific City Financial Corporation

Headquartered in Los Angeles, California, Pacific City Financial Corporation is the parent company of Pacific City Bank, a full-service commercial bank with nine branch offices and six loan production offices in Lynwood and Bellevue, Washington, Chicago, Illinois, Annandale, Virginia, Atlanta, Georgia, and Palisades Park, New Jersey. Pacific City Bank specializes in commercial banking for small to medium-size businesses by providing commercial real estate loans, small business loans and line of credit, trade finance loans, auto loans, residential mortgage loans, and SBA loans. Pacific City Bank serves a diverse customer base through its branches in the Greater Los Angeles Area and its Loan Production Offices in six States.

Safe Harbor Statement

This press release may contain forward-looking statements, which speak only as of the date of this release and are based on current expectations and involve a number of assumptions. All such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those projected, including descriptions of plans or objectives of its management for future operations, products or services, and forecasts of its revenues, earnings or other measures of economic performance. Forward-looking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words “believe,” “expect,” “anticipate,” “intend,” “plan,” “estimate,” or words of similar meaning, or future or conditional verbs such as “will,” “would,” “should,” “could,” or “may.” The Company intends all forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and is including this statement for purposes of these safe harbor provisions. Further, the Company undertake no obligation to update or clarify these forward-looking statements, whether as a result of new information, future events or otherwise.

Contacts:

Pacific City Financial Corporation
Timothy Chang
Senior Vice President & Chief Financial Officer
213-210-2000

Source: Pacific City Financial Corporation