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Bank of Hope Enters Atlanta Market With New Branch Opening in Duluth, Georgia
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Hope Bancorp, Inc. (NASDAQ: HOPE) announced the opening of a new full-service branch in Duluth, Georgia, aimed at serving Atlanta's Korean American community. This branch increases the total number of Bank of Hope branches to 54 nationwide. Chairman Kevin S. Kim emphasized the company's growth strategy and commitment to capturing economic opportunities in the region. As of September 30, 2021, Bank of Hope reported total assets of $17.8 billion, positioning itself as a key player in the financial sector for small and medium-sized businesses.
Positive
Expansion of the branch network with the new Duluth branch.
Focused growth strategy targeting the Korean American community in Atlanta.
Total assets of $17.8 billion as of September 30, 2021, indicating strong financial stability.
Negative
None.
LOS ANGELES & ATLANTA--(BUSINESS WIRE)--
Hope Bancorp, Inc. (the “Company”) (NASDAQ: HOPE), the holding company of Bank of Hope (the “Bank”), today announced the opening of a full-service branch in Duluth, the epicenter of Atlanta’s growing Korean American community. Bank of Hope’s Duluth Branch, located at 3764 Old Norcross Road, Duluth, Ga. 30096, increases the number of branches across the nation to 54.
“We are pleased to re-enter the Georgia market with a full-service branch in the heart of Atlanta’s growing Korean American community,” said Kevin S. Kim, Chairman, President and Chief Executive Officer. “This new branch opening underscores our focus on growth and business development. We expect that our expanded presence will enable us to better capitalize on the economic growth in this market, as well as expand our efforts to bank the Korean national corporations in the Southeastern region of the United States.”
About Hope Bancorp, Inc.
Hope Bancorp, Inc. is the holding company of Bank of Hope, the first and only super regional Korean American bank in the United States with $17.8 billion in total assets as of September 30, 2021. Headquartered in Los Angeles and serving a multi-ethnic population of customers across the nation, Bank of Hope operates 54 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Alabama, and Georgia. The Bank also operates SBA loan production offices in Seattle, Denver, Dallas, Atlanta, Portland, Oregon, New York City, Northern California and Houston; commercial loan production offices in Northern California and Seattle; residential mortgage loan production offices in Southern California; and a representative office in Seoul, Korea. Bank of Hope specializes in core business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and commercial lending, SBA lending and international trade financing. Bank of Hope is a California-chartered bank, and its deposits are insured by the FDIC to the extent provided by law. Bank of Hope is an Equal Opportunity Lender. For additional information, please go to bankofhope.com. By including the foregoing website address link, the Company does not intend to and shall not be deemed to incorporate by reference any material contained or accessible therein.
