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Hope Bancorp, Inc. (symbol: HOPE) is a premier bank holding company headquartered in Los Angeles, California, known for providing a diverse range of financial services. Over its 35-year history, the company has evolved to become the first and only super-regional Korean-American bank in the United States, following the merger of BBCN Bank and Wilshire Bank. As of July 30, 2016, Bank of Hope boasted total assets exceeding $13 billion.
Operating through 85 full-service branches across California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia, and Alabama, the company's reach is extensive. Additionally, it maintains Small Business Administration (SBA) loan production offices in Seattle, Denver, Dallas, Atlanta, Northern California, Annandale (Virginia), Portland (Oregon), and Fremont (California). Residential mortgage loan production offices are located in California, with a representative office in Seoul, Korea.
Hope Bancorp specializes in delivering core business banking products tailored for small and medium-sized enterprises (SMEs). Key services include commercial real estate and commercial lending, SBA lending, and international trade financing. The bank also offers a comprehensive suite of personal banking services such as online and mobile banking, mortgage loans, credit cards, and investment and wealth management services.
Recent achievements highlight the company's commitment to innovation and customer service. Notably, its financial condition remains strong, underpinned by substantial assets and a robust network of branches and offices. Strategic partnerships and forward-looking projects continue to enhance its service offerings and market reach.
Bank of Hope’s operational excellence and broad geographic footprint make it a significant player in the financial services sector, catering to a multi-ethnic customer base across the U.S. With its deep-rooted commitment to community and business growth, Hope Bancorp stands poised for sustained success.
Hope Bancorp, Inc. (NASDAQ: HOPE) declared a quarterly cash dividend of $0.14 per common share, payable on February 16, 2023, to stockholders recorded by February 2, 2023. The company will host an investor conference call on January 24, 2023, to discuss its unaudited financial results for Q4 and the full year ended December 31, 2022. With total assets of $19.16 billion as of year-end 2022, Hope Bancorp is a significant player in the banking sector, focusing on services for small and medium-sized businesses.
Hope Bancorp, Inc. (NASDAQ: HOPE) reported its 2022 fourth quarter financial results, posting net income of $51.7 million or $0.43 per diluted share, a slight decrease from $53.7 million in Q3 2022. Annual net income rose to $218.3 million, up from $204.6 million in 2021. Pre-provision net revenue for Q4 2022 was $78.1 million, down from $82.6 million in Q3 2022 but increased 16.2% year-over-year. Loan originations totaled $793 million in Q4 with a year-over-year increase in loans receivable of 10.4%. Nonperforming assets decreased 28% quarter-over-quarter, showcasing improvement in asset quality.
Hope Bancorp, Inc. (NASDAQ: HOPE) announced the resignation of Senior Executive Vice President and Chief Financial Officer, Alex Ko, effective January 6, 2023. His departure is not due to disagreements, and he will serve as a consultant until March 31, 2023. David P. Malone, who has extensive experience with the company, has been appointed as Interim Chief Financial Officer. Malone has been a director since May 2014 and has previously served in various executive roles, ensuring continuity during this transition period.
Hope Bancorp, Inc. (NASDAQ: HOPE) will release its 2022 fourth quarter and full year financial results on
Hope Bancorp, Inc. (NASDAQ: HOPE) has declared a quarterly cash dividend of $0.14 per share, payable on November 17, 2022, to stockholders of record by November 3, 2022. The announcement follows their previous notice of an investor conference call scheduled for October 25, 2022, at 9:30 AM PT, to discuss third-quarter financial results as of September 30, 2022. With total assets reaching $19.08 billion, Hope Bancorp operates as a super regional Korean American bank with 54 branches across several states.
Hope Bancorp (NASDAQ: HOPE) reported impressive financial results for Q3 2022, with net income at $53.7 million ($0.45 per share), a rise from the prior quarter's $52.1 million. Loan originations hit a record $1.35 billion, with commercial loans constituting 55%. Net interest income grew by 8% quarter-over-quarter and 18% year-over-year, driven by a 6.5% increase in loans receivable. Despite a $9.2 million provision for credit losses due to economic risks, nonperforming assets declined by 12%, indicating improving asset quality. The company remains optimistic about sustaining strong financial performance.
Hope Bancorp, Inc. (NASDAQ: HOPE) will report its 2022 third quarter financial results on October 24, 2022, after market close. A conference call to discuss these results is scheduled for October 25, 2022, at 9:30 a.m. PT. Investors can access the call via phone or a live webcast on their Investor Relations website. The company is the first super regional Korean American bank in the U.S., with total assets of $18.09 billion as of June 30, 2022.
Hope Bancorp, Inc. (NASDAQ: HOPE) declared a quarterly cash dividend of $0.14 per common share, payable on August 12, 2022, to stockholders of record by July 29, 2022. The company, which operates as the Bank of Hope, reported total assets of $18.09 billion as of June 30, 2022. Additionally, an investor conference call is scheduled for July 20, 2022, at 9:30 a.m. PT to discuss financial results for the second quarter of 2022.
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.
Hope Bancorp, Inc. (NASDAQ: HOPE) will report its 2022 Q2 financial results after market close on
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