Hope Bancorp Reports 2022 Second Quarter Financial Results

Rhea-AI Summary

Hope Bancorp, Inc. (NASDAQ: HOPE) reported Q2 2022 net income of $52.1 million or $0.43 per diluted share, down from $60.7 million in Q1 2022. Loan originations reached a record $1.29 billion, up 25% quarter-over-quarter, marking the fourth consecutive quarter above $1 billion. Net interest income increased by 6% to $141.5 million, with a net interest margin of 3.36%. Notably, noninterest income dipped 3% to $12.7 million. The company maintained a solid capital position, exceeding regulatory requirements, and plans to continue growing despite economic challenges.

Positive

• Record loan originations of $1.29 billion, up 25% quarter-over-quarter.
• 6% increase in net interest income to $141.5 million.
• Pre-provision net revenue (PPNR) return on average equity improved by 108 basis points to 14.66%.
• Solid capital ratios and exceeded regulatory capital requirements.

Negative

• Net income dropped to $52.1 million from $60.7 million in Q1 2022.
• Noninterest income decreased by 3% to $12.7 million.
• Total nonperforming assets increased to $110.6 million from $102.4 million in Q1 2022.

LOS ANGELES--(BUSINESS WIRE)-- Hope Bancorp, Inc. (the “Company”) (NASDAQ: HOPE), the holding company of Bank of Hope (the “Bank”), today reported unaudited financial results for its second quarter and six months ended June 30, 2022.

For the three months ended June 30, 2022, net income totaled $52.1 million, or $0.43 per diluted common share, compared with $60.7 million, or $0.50 per diluted common share, in the preceding first quarter and $53.8 million, or $0.43 per diluted common share, in the year-ago second quarter.

“We continued the positive momentum from the beginning of the year and delivered another strong financial performance for the second quarter of 2022 with record loan production and enhanced pre-provision net revenue,” said Kevin S. Kim, Chairman, President and Chief Executive Officer. “We originated $1.29 billion in new loans, the highest level of production in the history of the Bank. This represented the fourth consecutive quarter of originations in excess of $1.0 billion, and exemplifies the benefits of the investments we have made in our business development platform. We are particularly pleased that our loan production was well diversified. Given our asset sensitive position, our weighted average loan yields increased 18 basis points quarter-over-quarter and contributed to a 15 basis point increase in our net interest margin. With the meaningful increases in loans outstanding contributing to a 6% quarter-over-quarter increase in net interest income, we delivered a 4% increase in our pre-provision net revenue, and our PPNR return on average equity improved 108 basis points to 14.66%.

“As we look ahead to the second half of the year, we remain confident that the investments made to strengthen and diversify our business model over the past few years will continue to generate solid loan and deposit growth, despite the challenges of the current economy. With a lower-risk, more diversified loan portfolio and enhanced credit administration framework, we believe we are well positioned to navigate the potential challenges of a recessionary environment while continuing to enhance our franchise value,” said Kim.

Q2 2022 Highlights

• Loan originations totaled a record $1.29 billion, up 25% over the preceding first quarter and representing a well-diversified mix of new loan production.

• Excluding PPP, loans receivable increased 16% quarter-over-quarter on an annualized basis.

• Company recorded net recoveries of $930 thousand, reflecting the third consecutive quarter of total net recoveries.

• Criticized loan balances decreased 13% quarter-over-quarter, contributing to stable asset quality metrics.

• Company recorded a provision for credit losses of $3.2 million, primarily reflecting loan growth and continued reductions in criticized loans.

• Net interest margin expanded 15 basis points from the preceding first quarter, largely benefiting from higher loan yields.

• Total deposits increased 3.5% quarter-over-quarter, reflecting higher balances of noninterest bearing demand deposits and strategic increases in time deposits.

• Total cost of deposits increased 9 basis points quarter-over-quarter, reflecting an aggregate 150 basis point increase in the Federal Funds target rate since March 2022.

• Noninterest expenses were relatively well managed despite the higher compensation expense environment, with efficiency ratio of 52.09% versus 51.50% in the 2022 first quarter.

• Repurchased 1,038,986 shares of common stock of the Company during the second quarter, utilizing $14.7 million of the $50 million share repurchase program announced in January 2022.

Financial Highlights

(dollars in thousands, except per share data) (unaudited)		At or for the Three Months Ended
		6/30/2022				3/31/2022				6/30/2021
Net income		$	52,088			$	60,738			$	53,763
Diluted earnings per share		$	0.43			$	0.50			$	0.43
Pre-provision net revenue (“PPNR”) (1)		$	73,919			$	70,989			$	64,530
Net interest income before provision (credit) for credit losses		$	141,538			$	133,176			$	126,577
Net interest margin			3.36	%			3.21	%			3.11	%
Noninterest income		$	12,746			$	13,186			$	11,076
Noninterest expense		$	80,365			$	75,373			$	73,123
Net loans receivable		$	14,394,469			$	13,919,224			$	13,234,849
Deposits		$	15,029,630			$	14,515,128			$	14,726,230
Total cost of deposits			0.33	%			0.24	%			0.30	%
Nonaccrual loans(2)		$	69,522			$	52,717			$	111,008
Nonperforming loans to loans receivable(2)			0.75	%			0.71	%			1.24	%
ACL to loans receivable			1.04	%			1.05	%			1.41	%
ACL to nonaccrual loans(2)			218.03	%			279.70	%			170.67	%
ACL to nonperforming assets(2)			137.09	%			144.03	%			103.11	%
Provision (credit) for credit losses		$	3,200			$	(11,000	)		$	(7,000	)
Net (recoveries) charge offs		$	(930	)		$	(17,900	)		$	11,491
Return on average assets (“ROA”)			1.17	%			1.37	%			1.25	%
Return on average equity (“ROE”)			10.33	%			11.62	%			10.41	%
ROA (PPNR) (1)			1.65	%			1.60	%			1.50	%
ROE (PPNR) (1)			14.66	%			13.58	%			12.49	%
Return on average tangible common equity (“ROTCE”)(1)			13.48	%			15.01	%			13.50	%
Noninterest expense / average assets			1.80	%			1.70	%			1.70	%
Efficiency ratio			52.09	%			51.50	%			53.12	%

(1)		Pre-provision net revenue, ROA (PPNR), ROE (PPNR), and return on average tangible common equity are non-GAAP financial measures. Management’s reasons and purposes for using these non-GAAP financial measures are set forth on Table Pages 10 and 11 of this earnings release. A quantitative reconciliation of the Company’s GAAP to non-GAAP financial measures are provided in the accompanying financial information on Table Pages 10 and 11.
(2)		Excludes delinquent SBA loans that are guaranteed and currently in liquidation.

Operating Results for the 2022 Second Quarter

Net interest income before provision for credit losses for the 2022 second quarter increased 6% to $141.5 million from $133.2 million in the 2022 first quarter and increased 12% from $126.6 million in the 2021 second quarter. The Company attributed the increase to higher interest income largely due to an increase in loan yields and higher average balances of loans receivable, partially offset by higher interest expense on deposits.

The net interest margin for the 2022 second quarter increased 15 basis points to 3.36% from 3.21% in the preceding first quarter and increased 25 basis points from 3.11% in the year-ago second quarter, primarily reflecting higher loan yields and improved mix of interest earning assets.

The weighted average yield on loans for the 2022 second quarter was 4.06%, up 18 basis points from 3.88% in the 2022 first quarter and up 8 basis points from the year-ago second quarter. The Company attributed the quarter-over-quarter increase in weighted average yield on loans to the repricing of its variable rate loans as a result of an aggregate 150 basis point increase in the Federal Funds target rate since March 2022 and a significant increase in the average rate of new loans originated during the quarter.

The weighted average cost of deposits for the 2022 second quarter increased by 9 basis points to 0.33% from 0.24% in the 2022 first quarter, primarily reflecting a 16 basis point increase in the cost of interest bearing deposits due to the Federal Funds target rate hikes since March 2022. Compared with the year-ago second quarter, the weighted average cost of deposits for the 2022 second quarter increased 3 basis points from 0.30%, reflecting a 6 basis point increase in the cost of interest bearing deposits.

Noninterest income for the 2022 second quarter decreased 3% to $12.7 million from $13.2 million in the 2022 first quarter. Increases in service fees on deposit accounts, net gains on sales of SBA loans and other income and fees were offset by lower levels of net gains on sales of residential mortgage loans. In addition, the Company recorded a loss of $547,000 related to the sale of $35.0 million in problem loans that had been transferred to held-for-sale as of March 31, 2022. During the 2022 second quarter, the Company sold $70.2 million in the guaranteed portion of SBA 7(a) loans and $4.1 million in retail mortgage loans, compared with $58.1 million and $37.8 million, respectively, in the preceding first quarter. Noninterest income for the 2022 second quarter increased 15% compared with $11.1 million in the second quarter of 2021, primarily reflecting higher net gains on sales of SBA loans and service fees on deposit accounts.

Noninterest expense for the 2022 second quarter increased 7% to $80.4 million from $75.4 million for the preceding first quarter, largely reflecting higher salaries and employee benefits, credit-related expenses, and advertising and marketing expenses. For the 2021 second quarter, noninterest expense totaled $73.1 million.

Salaries and employee benefits expense for the 2022 second quarter increased to $51.1 million from $47.7 million in the preceding first quarter, largely reflecting the impact of annual merit increases, higher costs associated with retaining staff in the extremely competitive staffing market, and increased FTE count to support continued growth. Salaries and employee benefits expense for the 2021 second quarter totaled $42.3 million.

The Company’s efficiency ratio for the 2022 second quarter was 52.09%, compared with 51.50% in the preceding first quarter and 53.12% in the year-ago second quarter. Noninterest expense as a percentage of average assets was 1.80% for the 2022 second quarter, compared with 1.70% for the 2022 first quarter and 1.70% for the 2021 second quarter.

The effective tax rate for the 2022 second quarter was 26.4%, compared with 25.9% for the preceding first quarter and 24.8% in the year-ago second quarter. The effective tax rate for the 2022 second quarter was higher than the year-ago second quarter mainly due to a decrease in affordable housing tax credits compared with the prior year.

Balance Sheet Summary

New loan originations funded during the 2022 second quarter totaled $1.29 billion, reflecting a 25% increase over the preceding first quarter and a 44% increase over the year-ago second quarter.

Following are the components of new loan production for the quarters ended June 30, 2022, March 31, 2022, and June 30, 2021.

(dollars in thousands) (unaudited)	For the Three Months Ended
	6/30/2022			3/31/2022			6/30/2021
Commercial real estate	$	522,093		$	529,730		$	454,857
Commercial		544,639			335,756			288,726
SBA		35,085			56,602			77,652
SBA PPP		—			—			19,816
Residential mortgage		181,408			103,473			275
Consumer		2,770			401			52,766
Total new loan originations	$	1,285,995		$	1,025,962		$	894,092

At June 30, 2022, loans receivable increased 3.4% to $14.55 billion from $14.07 billion at March 31, 2022 and increased 8.4% from $13.42 billion at June 30, 2021.

Total deposits at June 30, 2022 increased 3.5% to $15.03 billion from $14.52 billion at March 31, 2022, largely reflecting an increase in demand deposits and time deposits, and increased 2.1% year-over-year from $14.73 billion at June 30, 2021. Quarter-over-quarter, money market and NOW deposits decreased 2.2%, but this decrease was more than offset by a 3.5% increase in noninterest bearing demand deposits and a 20.9% increase in time deposits. On a year-over-year basis, noninterest bearing demand deposits at June 30, 2022 increased 0.9%, money market and NOW deposits increased 9.6%, and time deposits decreased 10.7%.

Following is the deposit composition as of June 30, 2022, March 31, 2022 and June 30, 2021:

(dollars in thousands) (unaudited)	6/30/2022			3/31/2022			% change			6/30/2021			% change
Noninterest bearing demand deposits	$	5,689,992		$	5,498,263		3.5	%		$	5,638,115		0.9	%
Money market and other		6,339,467			6,484,677		(2.2	)%			5,786,697		9.6	%
Saving deposits		326,927			321,373		1.7	%			308,651		5.9	%
Time deposits		2,673,244			2,210,815		20.9	%			2,992,767		(10.7	)%
Total deposit balances	$	15,029,630		$	14,515,128		3.5	%		$	14,726,230		2.1	%

Following is the deposit composition as a percentage of total deposits and a breakdown of cost of deposits as of and for the quarters ended June 30, 2022, March 31, 2022 and June 30, 2021:

	Deposit Breakdown									Cost of Deposits
(unaudited)	6/30/2022			3/31/2022			6/30/2021			Q2 2022			Q1 2022			Q2 2021
Noninterest bearing demand deposits	37.9	%		37.9	%		38.3	%		—	%		—	%		—	%
Money market and other	42.2	%		44.7	%		39.2	%		0.54	%		0.36	%		0.43	%
Saving deposits	2.1	%		2.2	%		2.1	%		1.16	%		1.18	%		1.15	%
Time deposits	17.8	%		15.2	%		20.4	%		0.46	%		0.32	%		0.49	%
Total deposit balances	100.0	%		100.0	%		100.0	%		0.33	%		0.24	%		0.30	%

Allowance for Credit Losses

For the 2022 second quarter, the Company recorded a provision for credit losses of $3.2 million, compared with a negative provision for credit losses of $11.0 million in the preceding first quarter and a negative provision for credit losses of $7.0 million in the 2021 second quarter.

Following is the allowance for credit losses and allowance coverage ratios as of June 30, 2022, March 31, 2022 and June 30, 2021:

(dollars in thousands) (unaudited)	6/30/2022				3/31/2022				6/30/2021
Allowance for credit losses	$	151,580			$	147,450			$	189,452
Allowance for credit loss/loans receivable		1.04	%			1.05	%			1.41	%
Allowance for credit losses/nonperforming loans		139.63	%			146.92	%			113.36	%

Credit Quality

Following are the components of nonperforming assets as of June 30, 2022, March 31, 2022 and June 30, 2021:

(dollars in thousands) (unaudited)	6/30/2022			3/31/2022			6/30/2021
Loans on nonaccrual status (1)	$	69,522		$	52,717		$	111,008
Delinquent loans 90 days or more on accrual status		12,468			3,090			4,759
Accruing troubled debt restructured loans		26,572			44,555			51,360
Total nonperforming loans		108,562			100,362			167,127
Other real estate owned		2,010			2,010			16,619
Total nonperforming assets	$	110,572		$	102,372		$	183,746

(1)

Excludes delinquent SBA loans that are guaranteed and currently in liquidation totaling $13.2 million, $17.0 million and $23.6 million, at June 30, 2022, March 31, 2022 and June 30, 2021, respectively.

Total nonperforming assets at June 30, 2022 increased to $110.6 million from $102.4 million at March 31, 2022 but decreased from $183.7 million at June 30, 2021. Quarter-over-quarter, the increase in total nonperforming assets reflects higher balances of nonaccrual loans and delinquent loans 90 days or more on accrual status, partially offset by a reduction in accruing troubled debt restructured loans. During the quarter, an $18.6 million relationship migrated to nonaccrual status. Of the delinquent loans 90 days or more on accrual status as of June 30, 2022, $10.7 million represented loans that were addressed in the first week of July 2022 through renewals of maturing loans and pay offs. On a year-over-year basis, the decrease in total nonperforming assets reflects reductions in nonaccrual loans, accruing troubled debt restructured loans and other real estate owned, partially offset by an increase in delinquent loans 90 days or more on accrual status.

Following are net (recoveries) charge offs and net (recoveries) charge offs to average loans receivable on an annualized basis for the three months ended June 30, 2022, March 31, 2022 and June 30, 2021:

(dollars in thousands) (unaudited)	For the Three Months Ended
	6/30/2022				3/31/2022				6/30/2021
Net (recoveries) charge offs	$	(930	)		$	(17,900	)		$	11,491
Net (recoveries) charge offs/average loans receivable (annualized)		(0.03	)%			(0.52	)%			0.35	%

Following are the components of criticized loan balances as of June 30, 2022, March 31, 2022 and June 30, 2021:

(dollars in thousands) (unaudited)	6/30/2022			3/31/2022			6/30/2021
Special mention	$	95,797		$	166,958		$	294,559
Substandard		244,748			226,661			380,955
Total criticized loans	$	340,545		$	393,619		$	675,514

The Company noted that the decreases in criticized loan balances at June 30, 2022 largely reflects previously COVID-19 modified loans that were upgraded following the receipt of updated financial statements.

Capital

At June 30, 2022, the Company and the Bank continued to exceed all regulatory capital requirements generally required to meet the definition of a “well-capitalized” financial institution. Following are capital ratios for the Company as of June 30, 2022, March 31, 2022 and June 30, 2021:

Hope Bancorp, Inc. (unaudited)	6/30/2022			3/31/2022			6/30/2021			Minimum Guideline for “Well-Capitalized” Bank
Common Equity Tier 1 Capital	10.70	%		11.02	%		11.44	%		6.50	%
Tier 1 Leverage Ratio	10.32	%		10.37	%		10.43	%		5.00	%
Tier 1 Risk-Based Ratio	11.33	%		11.68	%		12.14	%		8.00	%
Total Risk-Based Ratio	12.14	%		12.49	%		13.16	%		10.00	%

Following are tangible common equity (“TCE”) per share and TCE as a percentage of tangible assets as of June 30, 2022, March 31, 2022 and June 30, 2021:

(unaudited)	6/30/2022		3/31/2022		6/30/2021
Tangible common equity per share (1)	$12.80		$13.04		$13.10
Tangible common equity to tangible assets (1)	8.68%		9.05%		9.53%

(1)

Tangible common equity represents common equity less goodwill and net other intangible assets. Tangible common equity per share represents tangible common equity divided by the number of shares issued and outstanding. Tangible assets represent total assets less goodwill and net other intangible assets. Tangible common equity to tangible assets is the ratio of tangible common equity over tangible assets. Tangible common equity, tangible common equity per share, tangible assets and tangible common equity to tangible assets are non-GAAP financial measures. Management’s reasons and purposes for using these non-GAAP financial measures are set forth in the following section. A quantitative reconciliation of the GAAP to non-GAAP financial measures is provided in the accompanying financial information on Table Pages 10 and 11.

Non-GAAP Financial Metrics

This news release contains certain non-GAAP financial measure disclosures, including pre-provision net revenue, ROA (PPNR), ROE (PPNR), tangible common equity, tangible common equity per share, tangible assets and tangible common equity to tangible assets. Management believes these non-GAAP financial measures provide meaningful supplemental information regarding its operational performance and the Company’s and the Bank’s capital levels and has included these figures in response to market participant interest in these financial metrics. A reconciliation of the GAAP to non-GAAP financial measures is provided in the accompanying financial information on Table Pages 10 and 11.

Investor Conference Call

The Company previously announced that it will host an investor conference call on Wednesday, July 20, 2022 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review financial results for its second quarter ended June 30, 2022. Investors and analysts are invited to access the conference call by dialing 866-235-9917 (domestic) or 412-902-4103 (international) and asking for the “Hope Bancorp Call.” A presentation to accompany the earnings call will be available at the Investor Relations section of Hope Bancorp’s website at www.ir-hopebancorp.com. Other interested parties are invited to listen to a live webcast of the call available at the Investor Relations section of Hope Bancorp’s website. After the live webcast, a replay will remain available at the Investor Relations section of Hope Bancorp’s website for one year. A telephonic replay of the call will be available at 877-344-7529 (domestic) or 412-317-0088 (international) for one week through July 27, 2022, replay access code 7509556.

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 $18.09 billion in total assets as of June 30, 2022. 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.

Forward-Looking Statements

Some statements in this news release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, expectations regarding the business environment in which we operate, projections of future performance, perceived opportunities in the market and statements regarding our business strategies, objectives and vision. Forward-looking statements include, but are not limited to, statements preceded by, followed by or that include the words “will,” “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates” or similar expressions. With respect to any such forward-looking statements, the Company claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. The Company’s actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. The risks and uncertainties include, but are not limited to: possible deterioration in economic conditions in our areas of operation; interest rate risk associated with volatile interest rates and related asset-liability matching risk; liquidity risks; risk of significant non-earning assets, and net credit losses that could occur, particularly in times of weak economic conditions or times of rising interest rates; the failure of or changes to assumptions and estimates underlying the Company’s allowances for credit losses, regulatory risks associated with current and future regulations; and the COVID-19 pandemic and its impact on our financial position, results of operations, liquidity, and capitalization. For additional information concerning these and other risk factors, see the Company’s most recent Annual Report on Form 10-K. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.

Hope Bancorp, Inc. Selected Financial Data Unaudited (dollars in thousands, except share and per share data)
Assets:	6/30/2022				3/31/2022				% change			6/30/2021				% change
Cash and due from banks	$	197,062			$	280,373			(30	) %		$	836,957			(76	)%
Investment securities		2,352,997				2,492,486			(6	)%			2,274,170			3	%
Federal Home Loan Bank (“FHLB”) stock and other investments		87,109				87,201			—	%			94,550			(8	)%
Loans held for sale, at the lower of cost or fair value		76,376				115,756			(34	)%			54,245			41	%
Loans receivable		14,546,049				14,066,674			3	%			13,424,301			8	%
Allowance for credit losses		(151,580	)			(147,450	)		3	%			(189,452	)		(20	)%
Net loans receivable		14,394,469				13,919,224			3	%			13,234,849			9	%
Accrued interest receivable		37,845				37,949			—	%			51,886			(27	)%
Premises and equipment, net		46,093				45,642			1	%			45,302			2	%
Bank owned life insurance		77,692				77,390			—	%			76,428			2	%
Goodwill		464,450				464,450			—	%			464,450			—	%
Servicing assets		11,215				10,874			3	%			11,566			(3	)%
Other intangible assets, net		6,698				7,184			(7	)%			8,689			(23	) %
Other assets		337,056				265,285			27	%			316,535			6	%
Total assets	$	18,089,062			$	17,803,814			2	%		$	17,469,627			4	%
Liabilities:
Deposits	$	15,029,630			$	14,515,128			4	%		$	14,726,230			2	%
FHLB and FRB borrowings		573,000				772,000			(26	)%			200,000			187	%
Convertible notes, net		216,678				216,444			—	%			215,739			—	%
Subordinated debentures		105,953				105,652			—	%			104,762			1	%
Accrued interest payable		4,112				4,826			(15	)%			4,946			(17	)%
Other liabilities		159,320				148,707			7	%			125,080			27	%
Total liabilities	$	16,088,693			$	15,762,757			2	%		$	15,376,757			5	%
Stockholders’ Equity:
Common stock, $0.001 par value	$	137			$	137			—	%		$	136			1	%
Capital surplus		1,424,891				1,422,602			—	%			1,418,135			—	%
Retained earnings		1,011,715				976,483			4	%			859,548			18	%
Treasury stock, at cost		(264,667	)			(250,000	)		(6	)%			(200,000	)		(32	)%
Accumulated other comprehensive (loss) gain, net		(171,707	)			(108,165	)		(59	)%			15,051			N/A
Total stockholders’ equity		2,000,369				2,041,057			(2	)%			2,092,870			(4	)%
Total liabilities and stockholders’ equity	$	18,089,062			$	17,803,814			2	%		$	17,469,627			4	%
Common stock shares - authorized		150,000,000				150,000,000							150,000,000
Common stock shares - outstanding		119,473,939				120,327,689							123,673,832
Treasury stock shares		17,382,835				16,343,849							12,661,581

Hope Bancorp, Inc. Selected Financial Data Unaudited (dollars in thousands, except share and per share data)
	Three Months Ended																		Six Months Ended
	6/30/2022				3/31/2022				% change			6/30/2021				% change			6/30/2022				6/30/2021				% change
Interest and fees on loans	$	145,024			$	132,672			9	%		$	131,823			10	%		$	277,696			$	261,559			6	%
Interest on investment securities		12,308				11,656			6	%			7,713			60	%			23,964				15,628			53	%
Interest on federal funds sold and other investments		492				544			(10	)%			668			(26	)%			1,036				1,310			(21	)%
Total interest income		157,824				144,872			9	%			140,204			13	%			302,696				278,497			9	%
Interest on deposits		12,220				8,676			41	%			10,696			14	%			20,896				23,466			(11	)%
Interest on other borrowings and convertible notes		4,066				3,020			35	%			2,931			39	%			7,086				5,875			21	%
Total interest expense		16,286				11,696			39	%			13,627			20	%			27,982				29,341			(5	)%
Net interest income before provision (credit) for credit losses		141,538				133,176			6	%			126,577			12	%			274,714				249,156			10	%
Provision (credit) for credit losses		3,200				(11,000	)		N/A				(7,000	)		N/A				(7,800	)			(3,700	)		111	%
Net interest income after provision (credit) for credit losses		138,338				144,176			(4	)%			133,577			4	%			282,514				252,856			12	%
Service fees on deposit accounts		2,270				1,974			15	%			1,777			28	%			4,244				3,567			19	%
International service fees		744				794			(6	)%			795			(6	)%			1,538				1,636			(6	)%
Loan servicing fees, net		843				836			1	%			934			(10	)%			1,679				1,978			(15	)%
Wire transfer fees		858				900			(5	)%			923			(7	)%			1,758				1,767			(1	)%
Net gains on sales of SBA loans		5,804				5,603			4	%			2,375			144	%			11,407				2,375			380	%
Net gains on sales of residential mortgage loans		76				757			(90	)%			1,028			(93	)%			833				3,124			(73	)%
Net losses on sales of other loans		(547	)			—			100	%			—			100	%			(547	)			—			100	%
Other income and fees		2,698				2,322			16	%			3,244			(17	)%			5,020				5,433			(8	)%
Total noninterest income		12,746				13,186			(3	)%			11,076			15	%			25,932				19,880			30	%
Salaries and employee benefits		51,058				47,745			7	%			42,309			21	%			98,803				83,525			18	%
Occupancy		7,178				7,335			(2	)%			7,067			2	%			14,513				14,034			3	%
Furniture and equipment		4,778				4,644			3	%			4,822			(1	)%			9,422				9,008			5	%
Advertising and marketing		2,226				1,636			36	%			2,097			6	%			3,862				3,722			4	%
Data processing and communications		2,893				2,461			18	%			2,411			20	%			5,354				5,148			4	%
Professional fees		1,582				2,211			(28	)%			4,395			(64	)%			3,793				7,298			(48	)%
FDIC assessment		1,450				1,569			(8	)%			1,284			13	%			3,019				2,539			19	%
Credit related expenses		2,872				1,112			158	%			43			6,579	%			3,984				2,261			76	%
OREO expense		5				357			(99	)%			298			(98	)%			362				579			(37	)%
Software impairment		—				—			—	%			2,146			(100	)%			—				2,146			(100	)%
Other		6,323				6,303			—	%			6,251			1	%			12,626				13,294			(5	)%
Total noninterest expense		80,365				75,373			7	%			73,123			10	%			155,738				143,554			8	%
Income before income taxes		70,719				81,989			(14	)%			71,530			(1	)%			152,708				129,182			18	%
Income tax provision		18,631				21,251			(12	)%			17,767			5	%			39,882				31,732			26	%
Net income	$	52,088			$	60,738			(14	)%		$	53,763			(3	)%		$	112,826			$	97,450			16	%
Earnings Per Common Share - Basic	$	0.43			$	0.51						$	0.44						$	0.94			$	0.79
Earnings Per Common Share - Diluted	$	0.43			$	0.50						$	0.43						$	0.93			$	0.78
Weighted Average Shares Outstanding - Basic		120,219,919				120,131,380							123,592,695							120,175,894				123,459,461
Weighted Average Shares Outstanding - Diluted		120,699,638				121,089,474							124,323,888							120,898,605				124,334,227

Hope Bancorp, Inc. Selected Financial Data Unaudited (dollars in thousands, except share and per share data)
	For the Three Months Ended (Annualized)									For the Six Months Ended (Annualized)
Profitability measures:	6/30/2022			3/31/2022			6/30/2021			6/30/2022			6/30/2021
ROA	1.17	%		1.37	%		1.25	%		1.27	%		1.14	%
ROE	10.33	%		11.62	%		10.41	%		10.99	%		9.48	%
ROA (PPNR) (1)	1.65	%		1.60	%		1.50	%		1.63	%		1.46	%
ROE (PPNR) (1)	14.66	%		13.58	%		12.49	%		14.11	%		12.20	%
ROTCE (2)	13.48	%		15.01	%		13.50	%		14.27	%		12.31	%
Net interest margin	3.36	%		3.21	%		3.11	%		3.28	%		3.09	%
Efficiency ratio	52.09	%		51.50	%		53.12	%		51.80	%		53.36	%
Noninterest expense / average assets	1.80	%		1.70	%		1.70	%		1.75	%		1.68	%

(1)		ROA (PPNR) and ROE (PPNR) are non-GAAP financial measures. Management’s reasons and purposes for using these non-GAAP financial measures are set forth on Table Pages 10 and 11 of this earnings release. A quantitative reconciliation of the Company’s GAAP to non-GAAP financial measures are provided in the accompanying financial information on Table Pages 10 and 11.
(2)		Average tangible common equity is calculated by subtracting average goodwill and average core deposit intangible assets from average stockholders’ equity. This is a non-GAAP measure that we believe provides investors with information that is useful in understanding our financial performance and position.

Hope Bancorp, Inc. Selected Financial Data Unaudited (dollars in thousands)
	Three Months Ended
	6/30/2022									3/31/2022									6/30/2021
				Interest			Annualized						Interest			Annualized						Interest			Annualized
	Average			Income/			Average			Average			Income/			Average			Average			Income/			Average
	Balance			Expense			Yield/Cost			Balance			Expense			Yield/Cost			Balance			Expense			Yield/Cost
INTEREST EARNING ASSETS:
Loans, including loans held for sale	$	14,327,476		$	145,024		4.06	%		$	13,871,974		$	132,672		3.88	%		$	13,293,591		$	131,823		3.98	%
Investment securities		2,424,454			12,308		2.04	%			2,621,220			11,656		1.80	%			2,253,135			7,713		1.37	%
FHLB stock and other investments		134,055			492		1.47	%			352,774			544		0.63	%			759,182			668		0.35	%
Total interest earning assets	$	16,885,985		$	157,824		3.75	%		$	16,845,968		$	144,872		3.49	%		$	16,305,908		$	140,204		3.45	%
INTEREST BEARING LIABILITIES:
Deposits:
Demand, interest bearing	$	6,487,890		$	8,655		0.54	%		$	6,337,866		$	5,701		0.36	%		$	5,484,047		$	5,909		0.43	%
Savings		323,114			937		1.16	%			318,508			927		1.18	%			308,530			887		1.15	%
Time deposits		2,277,938			2,628		0.46	%			2,619,491			2,048		0.32	%			3,222,457			3,900		0.49	%
Total interest bearing deposits		9,088,942			12,220		0.54	%			9,275,865			8,676		0.38	%			9,015,034			10,696		0.48	%
FHLB and FRB borrowings		577,966			1,457		1.01	%			242,556			687		1.15	%			202,198			631		1.25	%
Convertible notes, net		216,540			1,322		2.42	%			216,305			1,323		2.45	%			215,599			1,323		2.43	%
Subordinated debentures		101,880			1,287		5.00	%			101,577			1,010		3.98	%			100,701			977		3.84	%
Total interest bearing liabilities	$	9,985,328		$	16,286		0.65	%		$	9,836,303		$	11,696		0.48	%		$	9,533,532		$	13,627		0.57	%
Noninterest bearing demand deposits		5,715,830									5,672,768									5,445,457
Total funding liabilities/cost of funds	$	15,701,158					0.42	%		$	15,509,071					0.31	%		$	14,978,989					0.36	%
Net interest income/net interest spread				$	141,538		3.10	%					$	133,176		3.01	%					$	126,577		2.88	%
Net interest margin							3.36	%								3.21	%								3.11	%
Cost of deposits:
Noninterest bearing demand deposits	$	5,715,830		$	—		—	%		$	5,672,768		$	—		—	%		$	5,445,457		$	—		—	%
Interest bearing deposits		9,088,942			12,220		0.54	%			9,275,865			8,676		0.38	%			9,015,034			10,696		0.48	%
Total deposits	$	14,804,772		$	12,220		0.33	%		$	14,948,633		$	8,676		0.24	%		$	14,460,491		$	10,696		0.30	%

Hope Bancorp, Inc. Selected Financial Data Unaudited (dollars in thousands)
	Six Months Ended
	6/30/2022									6/30/2021
				Interest			Annualized						Interest			Annualized
	Average			Income/			Average			Average			Income/			Average
	Balance			Expense			Yield/Cost			Balance			Expense			Yield/Cost
INTEREST EARNING ASSETS:
Loans, including loans held for sale	$	14,100,983		$	277,696		3.97	%		$	13,319,782		$	261,559		3.96	%
Investment securities		2,522,293			23,964		1.92	%			2,260,233			15,628		1.39	%
FHLB stock and other investments		242,810			1,036		0.86	%			700,115			1,310		0.38	%
Total interest earning assets	$	16,866,086		$	302,696		3.62	%		$	16,280,130		$	278,497		3.45	%
INTEREST BEARING LIABILITIES:
Deposits:
Demand, interest bearing	$	6,413,292		$	14,355		0.45	%		$	5,370,941		$	11,399		0.43	%
Savings		320,824			1,865		1.17	%			304,877			1,757		1.16	%
Time deposits		2,447,771			4,676		0.39	%			3,493,278			10,310		0.60	%
Total interest bearing deposits		9,181,887			20,896		0.46	%			9,169,096			23,466		0.52	%
FHLB and FRB borrowings		411,187			2,144		1.05	%			209,006			1,273		1.23	%
Convertible notes, net		216,423			2,644		2.43	%			215,302			2,645		2.44	%
Subordinated debentures		101,729			2,298		4.49	%			100,547			1,957		3.87	%
Total interest bearing liabilities	$	9,911,226		$	27,982		0.57	%		$	9,693,951		$	29,341		0.61	%
Noninterest bearing demand deposits		5,694,418									5,250,080
Total funding liabilities/cost of funds	$	15,605,644					0.36	%		$	14,944,031					0.40	%
Net interest income/net interest spread				$	274,714		3.05	%					$	249,156		2.84	%
Net interest margin							3.28	%								3.09	%
Cost of deposits:
Noninterest bearing demand deposits	$	5,694,418		$	—		—	%		$	5,250,080		$	—		—	%
Interest bearing deposits		9,181,887			20,896		0.46	%			9,169,096			23,466		0.52	%
Total deposits	$	14,876,305		$	20,896		0.28	%		$	14,419,176		$	23,466		0.33	%

Hope Bancorp, Inc. Selected Financial Data Unaudited (dollars in thousands)
	Three Months Ended																		Six Months Ended
AVERAGE BALANCES:	6/30/2022				3/31/2022				% change			6/30/2021				% change			6/30/2022			6/30/2021			% change
Loans, including loans held for sale	$	14,327,476			$	13,871,974			3	%		$	13,293,591			8	%		$	14,100,983		$	13,319,782		6	%
Investments		2,558,509				2,973,994			(14	)%			3,012,317			(15	)%			2,765,103			2,960,348		(7	)%
Interest earning assets		16,885,985				16,845,968			—	%			16,305,908			4	%			16,866,086			16,280,130		4	%
Total assets		17,876,945				17,742,402			1	%			17,164,893			4	%			17,810,045			17,140,286		4	%
Interest bearing deposits		9,088,942				9,275,865			(2	)%			9,015,034			1	%			9,181,887			9,169,096		—	%
Interest bearing liabilities		9,985,328				9,836,303			2	%			9,533,532			5	%			9,911,226			9,693,951		2	%
Noninterest bearing demand deposits		5,715,830				5,672,768			1	%			5,445,457			5	%			5,694,418			5,250,080		8	%
Stockholders’ equity		2,016,577				2,090,755			(4	)%			2,066,016			(2	)%			2,053,461			2,056,812		—	%
Net interest earning assets		6,900,657				7,009,665			(2	)%			6,772,376			2	%			6,954,860			6,586,179		6	%
LOAN PORTFOLIO COMPOSITION:	6/30/2022				3/31/2022				% change			6/30/2021				% change
Commercial loans	$	4,395,738			$	4,124,715			7	%		$	4,001,423			10	%
Real estate loans		9,335,020				9,262,305			1	%			8,832,276			6	%
Consumer and other loans		815,291				679,654			20	%			590,602			38	%
Loans, net of deferred loan fees and costs		14,546,049				14,066,674			3	%			13,424,301			8	%
Allowance for credit losses		(151,580	)			(147,450	)		3	%			(189,452	)		(20	)%
Loans receivable, net	$	14,394,469			$	13,919,224			3	%		$	13,234,849			9	%
REAL ESTATE LOANS BY PROPERTY TYPE:	6/30/2022				3/31/2022				% change			6/30/2021				% change
Retail buildings	$	2,603,516			$	2,598,373			—	%		$	2,361,891			10	%
Hotels/motels		1,143,982				1,208,217			(5	)%			1,439,770			(21	)%
Gas stations/car washes		1,080,777				1,055,383			2	%			954,394			13	%
Mixed-use facilities		833,342				872,362			(4	)%			798,373			4	%
Warehouses		1,279,647				1,263,791			1	%			1,149,393			11	%
Multifamily		989,840				841,316			18	%			575,943			72	%
Other		1,403,916				1,422,863			(1	)%			1,552,512			(10	)%
Total	$	9,335,020			$	9,262,305			1	%		$	8,832,276			6	%
DEPOSIT COMPOSITION	6/30/2022				3/31/2022				% change			6/30/2021				% change
Noninterest bearing demand deposits	$	5,689,992			$	5,498,263			3	%		$	5,638,115			1	%
Money market and other		6,339,467				6,484,677			(2	)%			5,786,697			10	%
Saving deposits		326,927				321,373			2	%			308,651			6	%
Time deposits		2,673,244				2,210,815			21	%			2,992,767			(11	)%
Total deposit balances	$	15,029,630			$	14,515,128			4	%		$	14,726,230			2	%

Hope Bancorp, Inc. Selected Financial Data Unaudited (dollars in thousands, except share and per share data)
CAPITAL RATIOS:	6/30/2022				3/31/2022				6/30/2021
Total stockholders’ equity	$	2,000,369			$	2,041,057			$	2,092,870
Common equity tier 1 ratio		10.70	%			11.02	%			11.44	%
Tier 1 risk-based capital ratio		11.33	%			11.68	%			12.14	%
Total risk-based capital ratio		12.14	%			12.49	%			13.16	%
Tier 1 leverage ratio		10.32	%			10.37	%			10.43	%
Total risk weighted assets	$	16,059,739			$	15,393,639			$	14,354,682
Book value per common share	$	16.74			$	16.96			$	16.92
Tangible common equity to tangible assets (1)		8.68	%			9.05	%			9.53	%
Tangible common equity per share (1)	$	12.80			$	13.04			$	13.10
(1) Tangible common equity to tangible assets is a non-GAAP financial measure that represents common equity less goodwill and core deposit intangible assets, net divided by total assets less goodwill and core deposit intangible assets, net. Management reviews tangible common equity to tangible assets in evaluating the Company’s capital levels and has included this ratio in response to market participant interest in tangible common equity as a measure of capital.
	Three Months Ended																				Six Months Ended
ALLOWANCE FOR CREDIT LOSSES CHANGES:	6/30/2022				3/31/2022				12/31/2021				9/30/2021				6/30/2021				6/30/2022				6/30/2021
Balance at beginning of period	$	147,450			$	140,550			$	136,774			$	189,452			$	207,943			$	140,550			$	206,741
Provision (credit) for credit losses		3,200				(11,000	)			1,500				(10,000	)			(7,000	)			(7,800	)			(3,700	)
Recoveries		1,642				19,403				3,615				1,906				1,301				21,045				2,724
Charge offs		(712	)			(1,503	)			(1,339	)			(44,584	)			(12,792	)			(2,215	)			(16,313	)
Balance at end of period	$	151,580			$	147,450			$	140,550			$	136,774			$	189,452			$	151,580			$	189,452
Net (recoveries) charge offs/average loans receivable (annualized)		(0.03	)%			(0.52	)%			(0.07	)%			1.28	%			0.35	%			(0.27	)%			0.20	%
	Three Months Ended																				Six Months Ended
NET LOAN (RECOVERIES) CHARGE OFFS:	6/30/2022				3/31/2022				12/31/2021				9/30/2021				6/30/2021				6/30/2022				6/30/2021
Real estate loans	$	(508	)		$	(16,418	)		$	(2,352	)		$	40,542			$	11,281			$	(16,926	)		$	13,515
Commercial loans		(461	)			(1,529	)			144				1,117				181				(1,990	)			101
Consumer loans		39				47				(68	)			1,019				29				86				(27	)
Total net (recoveries) charge offs	$	(930	)		$	(17,900	)		$	(2,276	)		$	42,678			$	11,491			$	(18,830	)		$	13,589

Hope Bancorp, Inc. Selected Financial Data Unaudited (dollars in thousands)
NONPERFORMING ASSETS:	6/30/2022				3/31/2022				12/31/2021				9/30/2021				6/30/2021
Loans on nonaccrual status (1)	$	69,522			$	52,717			$	54,616			$	54,380			$	111,008
Delinquent loans 90 days or more on accrual status		12,468				3,090				2,131				4,567				4,759
Accruing troubled debt restructured loans		26,572				44,555				52,418				39,509				51,360
Total nonperforming loans		108,562				100,362				109,165				98,456				167,127
Other real estate owned		2,010				2,010				2,597				15,213				16,619
Total nonperforming assets	$	110,572			$	102,372			$	111,762			$	113,669			$	183,746
Nonperforming assets/total assets		0.61	%			0.58	%			0.62	%			0.64	%			1.05	%
Nonperforming assets/loans receivable & OREO		0.76	%			0.73	%			0.80	%			0.85	%			1.37	%
Nonperforming assets/total capital		5.53	%			5.02	%			5.34	%			5.48	%			8.78	%
Nonperforming loans/loans receivable		0.75	%			0.71	%			0.78	%			0.73	%			1.24	%
Nonaccrual loans/loans receivable		0.48	%			0.37	%			0.39	%			0.41	%			0.83	%
Allowance for credit losses/loans receivable		1.04	%			1.05	%			1.01	%			1.02	%			1.41	%
Allowance for credit losses/nonaccrual loans		218.03	%			279.70	%			257.34	%			251.52	%			170.67	%
Allowance for credit losses/nonperforming loans		139.63	%			146.92	%			128.75	%			138.92	%			113.36	%
Allowance for credit losses/nonperforming assets		137.09	%			144.03	%			125.76	%			120.33	%			103.11	%
(1) Excludes delinquent SBA loans that are guaranteed and currently in liquidation totaling $13.2 million, $17.0 million, $19.5 million, $20.6 million, and $23.6 million, at June 30, 2022, March 31, 2022, December 31, 2021, September 30, 2021, and June 30, 2021, respectively.
NONACCRUAL LOANS BY TYPE:	6/30/2022				3/31/2022				12/31/2021				9/30/2021				6/30/2021
Real estate loans	$	53,966			$	36,655			$	39,756			$	41,673			$	95,622
Commercial loans		8,206				8,686				11,025				10,991				12,217
Consumer loans		7,350				7,376				3,835				1,716				3,169
Total nonaccrual loans	$	69,522			$	52,717			$	54,616			$	54,380			$	111,008
ACCRUING TROUBLED DEBT RESTRUCTURED LOANS:	6/30/2022				3/31/2022				12/31/2021				9/30/2021				6/30/2021
Retail buildings	$	6,337			$	24,356			$	28,483			$	11,280			$	12,110
Hotels/motels		—				—				472				—				—
Gas stations/car washes		189				193				197				202				206
Mixed-use facilities		2,837				2,836				2,846				7,937				7,967
Warehouses		4,770				5,321				5,366				4,908				14,099
Other (2)		12,439				11,849				15,054				15,182				16,978
Total	$	26,572			$	44,555			$	52,418			$	39,509			$	51,360
(2) Includes commercial business, consumer, and other loans

Hope Bancorp, Inc. Selected Financial Data Unaudited (dollars in thousands)
ACCRUING DELINQUENT LOANS 30-89 DAYS PAST DUE:	6/30/2022			3/31/2022			12/31/2021			9/30/2021			6/30/2021
30 - 59 days	$	10,090		$	12,439		$	29,723		$	15,016		$	22,466
60 - 89 days		6,354			3,090			10,345			4,746			6,987
Total	$	16,444		$	15,529		$	40,068		$	19,762		$	29,453
ACCRUING DELINQUENT LOANS 30-89 DAYS PAST DUE BY TYPE:	6/30/2022			3/31/2022			12/31/2021			9/30/2021			6/30/2021
Real estate loans	$	7,919		$	6,097		$	20,232		$	10,359		$	21,432
Commercial loans		3,397			5,003			3,057			9,377			560
Consumer loans		5,128			4,429			16,779			26			7,461
Total	$	16,444		$	15,529		$	40,068		$	19,762		$	29,453
CRITICIZED LOANS:	6/30/2022			3/31/2022			12/31/2021			9/30/2021			6/30/2021
Special mention	$	95,797		$	166,958		$	257,194		$	306,766		$	294,559
Substandard		244,748			226,661			242,397			243,684			380,955
Total criticized loans	$	340,545		$	393,619		$	499,591		$	550,450		$	675,514

Hope Bancorp, Inc. Selected Financial Data Unaudited (dollars in thousands, except share and per share data)
Reconciliation of GAAP financial measures to non-GAAP financial measures
Management reviews select non-GAAP financial measures in evaluating the Company’s and the Bank’s financial performance and in response to market participant interest. A reconciliation of the GAAP to non-GAAP financial measures utilized by management is provided below.
	Three Months Ended												Six Months Ended
	6/30/2022				3/31/2022				6/30/2021				6/30/2022				6/30/2021
RETURN ON AVERAGE TANGIBLE COMMON EQUITY
Average stockholders’ equity	$	2,016,577			$	2,090,755			$	2,066,016			$	2,053,461			$	2,056,812
Less: Goodwill and core deposit intangible assets, net		(471,421	)			(471,921	)			(473,445	)			(471,669	)			(473,702	)
Average tangible common equity	$	1,545,156			$	1,618,834			$	1,592,571			$	1,581,792			$	1,583,110
Net income	$	52,088			$	60,738			$	53,763			$	112,826			$	97,450
Return on average tangible common equity (annualized)		13.48	%			15.01	%			13.50	%			14.27	%			12.31	%
	6/30/2022				3/31/2022				6/30/2021
TANGIBLE COMMON EQUITY
Total stockholders’ equity	$	2,000,369			$	2,041,057			$	2,092,870
Less: Goodwill and core deposit intangible assets, net		(471,148	)			(471,634	)			(473,139	)
Tangible common equity	$	1,529,221			$	1,569,423			$	1,619,731
Total assets	$	18,089,062			$	17,803,814			$	17,469,627
Less: Goodwill and core deposit intangible assets, net		(471,148	)			(471,634	)			(473,139	)
Tangible assets	$	17,617,914			$	17,332,180			$	16,996,488
Common shares outstanding		119,473,939				120,327,689				123,673,832
Tangible common equity to tangible assets		8.68	%			9.05	%			9.53	%
Tangible common equity per share	$	12.80			$	13.04			$	13.10
	Three Months Ended												Six Months Ended
	6/30/2022				3/31/2022				6/30/2021				6/30/2022				6/30/2021
PRE-PROVISION NET REVENUE
Net interest income before provision (credit) for credit losses	$	141,538			$	133,176			$	126,577			$	274,714			$	249,156
Noninterest income		12,746				13,186				11,076				25,932				19,880
Revenue		154,284				146,362				137,653				300,646				269,036
Noninterest expense		80,365				75,373				73,123				155,738				143,554
Pre-provision net revenue	$	73,919			$	70,989			$	64,530			$	144,908			$	125,482
Average assets	$	17,876,945			$	17,742,402			$	17,164,893			$	17,810,045			$	17,140,286
ROA (PPNR)		1.65	%			1.60	%			1.50	%			1.63	%			1.46	%
Average stockholders’ equity		2,016,577				2,090,755				2,066,016				2,053,461				2,056,812
ROE (PPNR)		14.66	%			13.58	%			12.49	%			14.11	%			12.20	%

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20220719006026/en/

Alex Ko

Senior EVP & Chief Financial Officer

213-427-6560

alex.ko@bankofhope.com

Angie Yang

SVP, Director of Investor Relations &

Corporate Communications

213-251-2219

angie.yang@bankofhope.com

Source: Hope Bancorp, Inc.

FAQ

What were Hope Bancorp's Q2 2022 earnings results?

Hope Bancorp reported Q2 2022 net income of $52.1 million, or $0.43 per diluted share.

How much did Hope Bancorp originate in loans during Q2 2022?

Hope Bancorp originated a record $1.29 billion in loans during Q2 2022, up 25% from Q1 2022.

What is the net interest margin for Hope Bancorp in Q2 2022?

The net interest margin for Hope Bancorp in Q2 2022 was 3.36%.

Did Hope Bancorp experience any changes in noninterest income in Q2 2022?

Yes, noninterest income decreased by 3% to $12.7 million in Q2 2022.

What challenges does Hope Bancorp foresee for the second half of 2022?

Hope Bancorp anticipates potential challenges due to economic conditions but remains confident in its loan and deposit growth.