March 10, 2010 (FinancialWire) — Saehan Bancorp (OTCBB: SAEB), the parent company of Saehan Bank, said it has consummated a privately negotiated $60.6 million common stock sale transaction to accredited investors.

The company said that substantially all of the proceeds from the transaction will be contributed as new capital into Saehan Bank. As a result of the capital injection, Saehan Bank said it attained a Tier 1 capital leverage ratio in excess of 10% as required under the Consent Order dated December 7, 2010 with the Federal Deposit Insurance Corp. and the California Department of Financial Institutions.

California-based Saehan Bancorp’s Saehan Bank unit offers a range of financial services in Los Angeles and Orange Counties through ten retail branch offices.

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