Welcome to our dedicated page for Hope Bancorp news (Ticker: HOPE), a resource for investors and traders seeking the latest updates and insights on Hope Bancorp stock.
Hope Bancorp, Inc. (NASDAQ: HOPE) is the holding company for Bank of Hope, a California-chartered commercial bank described by the company as the only regional Korean American bank in the United States. Through Bank of Hope and the Territorial Savings division, the organization focuses on commercial, corporate and consumer banking across the continental United States and Hawaii. This news page aggregates company-issued updates and market-moving announcements related to HOPE stock and its banking operations.
Visitors can review earnings news releases that discuss Hope Bancorp’s results of operations and financial condition, including loan and deposit composition, credit quality metrics, and capital ratios, as summarized in the company’s public communications. The company also uses news releases to announce quarterly cash dividend declarations on its common stock, providing details on dividend amounts, record dates and payment dates.
In addition to financial results and dividends, Hope Bancorp issues news about corporate developments such as the completion of the Territorial Bancorp Inc. acquisition, changes in board composition and participation in investor conferences. The company regularly announces the timing of upcoming earnings releases, conference calls and webcasts, inviting institutional investors, analysts and other interested parties to follow its presentations.
This HOPE news feed offers a centralized view of these disclosures, helping readers track themes such as commercial and commercial real estate lending trends, SBA loan sales, residential mortgage growth, deposit mix changes and the bank’s stated focus on multicultural customers. For investors and observers of regional commercial banks, the updates provide ongoing context on how Hope Bancorp communicates its strategy, financial performance and governance decisions over time.
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Hope Bancorp, Inc. (NASDAQ: HOPE) has declared a quarterly cash dividend of
The company will also host an investor conference call on
Hope Bancorp, Inc. (NASDAQ: HOPE) reported its first quarter results for 2023, showing net income of $39.1 million or $0.33 per diluted share, a decline from $51.7 million ($0.43 per share) in Q4 2022 and $60.7 million ($0.50 per share) in Q1 2022. Deposits rose 1% quarter-over-quarter and 9% year-over-year, totaling $15.83 billion. The total risk-based capital ratio increased to 12.25%, up 28 basis points from Q4 2022. Cash and cash equivalents surged to $2.2 billion, bolstered by $1.4 billion borrowed through the Federal Reserve's Bank Term Funding Program. Loan originations totaled $568.7 million, a decrease from $793.4 million in Q4 2022. Noninterest income fell to $11.0 million, while noninterest expenses rose to $90.4 million, affecting the efficiency ratio, which climbed to 62.4%.
Hope Bancorp, Inc. has appointed Julianna Balicka as the new Executive Vice President and Chief Financial Officer, effective immediately. She succeeds David P. Malone, who served as the Interim CFO since January 6, 2023 and will assist in the transition until April 30, 2023. Balicka brings extensive experience from her previous role as Senior Vice President at East West Bank, overseeing investor relations and corporate finance. Her background includes significant involvement with ethnic banking, making her a valuable addition to Hope Bancorp as it navigates current market challenges. The company, the only super regional Korean American bank in the U.S., has total assets of $19.2 billion as of December 31, 2022, and operates 53 branches across multiple states.
Hope Bancorp, Inc. (NASDAQ: HOPE) is notifying holders of its 2.00% Convertible Senior Notes due 2038 of their right to sell these Notes back to the Company for cash under the Optional Put provision. Holders can exercise this option starting April 17, 2023, until May 11, 2023, for a repurchase price equal to 100% of the principal amount, which totals $197,551,000. Additionally, holders may convert their Notes into the Company's common stock at a conversion rate of 45.0760 shares per $1,000 of principal. The repurchase will include accrued interest if surrendered by May 1, 2023. U.S. Bank Trust Company acts as the trustee for these Notes. This announcement is for informational purposes and is not a solicitation to purchase securities.
Hope Bancorp (NASDAQ: HOPE) will report its financial results for Q1 2023 on April 24, 2023, after market close. A conference call to discuss these results is scheduled for April 25, 2023, at 9:30 a.m. PT. Participants can join via a direct dial or through a live webcast on the company's investor relations website. The archived webcast will be available for one year post-event. Hope Bancorp, the only super regional Korean American bank in the U.S., had total assets of $19.2 billion as of December 31, 2022. With 53 branches across several states, it focuses on providing banking products for small and medium-sized businesses, specializing in commercial real estate and SBA lending.
Hope Bancorp, Inc. (NASDAQ: HOPE) announced that its Chairman and CEO, Kevin S. Kim, along with COO Peter Koh, will participate in the Piper Sandler 2023 Western Financial Services Conference in Del Mar, California on March 2, 2023. An investor presentation will be accessible on their website from the same date. Hope Bancorp operates as the parent company of Bank of Hope, the only super-regional Korean American bank in the U.S., with total assets of $19.16 billion as of December 31, 2022. The bank serves diverse customers across 53 branches in various states including California and Texas.
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