Business
Bank of Hope to Acquire the Commercial Banking Unit of SMBC MANUBANK in Accretive, All-Cash Transaction
Aligns with Hope’s Core Strategy to Enhance its Commercial Banking Capabilities Collaboration and Partnership Agreement with SMBC Positions Hope as a Premier
About this update from Hope Bancorp, Inc.
[{"type":"text","content":"\n\nAligns with Hope’s Core Strategy to Enhance its Commercial Banking Capabilities\n\n\n\nCollaboration and Partnership Agreement with SMBC Positions Hope as a Premier Banking Partner to Middle Market Customers from Asia\n\n\n\nProvides Attractive Core Deposit Funding, Specialized Deposit Segments and Commercial Loan Portfolios to Further Diversify Balance Sheet\n\n\n\nDeepens Hope’s Presence in the Greater Los Angeles Metropolitan Area\n\n\n\n LOS ANGELES--(BUSINESS WIRE)--\nHope Bancorp, Inc. (NASDAQ: HOPE) today announced that Bank of Hope, its bank subsidiary, has entered into a definitive agreement under which Bank of Hope will acquire the Commercial Banking Unit (“CBU”) of SMBC MANUBANK, a wholly owned subsidiary of SMBC Americas Holdings, Inc. and Sumitomo Mitsui Banking Corporation (“SMBC”). In addition, Bank of Hope and SMBC intend to enter into a collaboration and partnership agreement to provide commercial and consumer banking services to SMBC’s Japanese midsize business and retail customers needing banking services in the United States.\n\n\nThis transaction aligns with Hope Bancorp’s core strategies to enhance its commercial banking capabilities, expand services and product offerings to the Asian subsidiary and middle market business in the United States, and continue to grow its core funding. The acquisition adds approximately $2.5 billion in loans and $2.7 billion in deposits, based on the CBU balances as of December 31, 2025. Through the CBU, SMBC MANUBANK operates eight branches in Southern California with a focus on the attractive greater Los Angeles metropolitan area. The addition of these branches increases Bank of Hope’s core footprint in Los Angeles, the second-largest metropolitan area in the United States.\n\n\nThe CBU’s business lines are complementary to Bank of Hope’s key business segments, positioning the company for efficient growth. The CBU is a full service commercial bank offering a broad range of banking services across the following business lines: 1) the Japanese Banking Division, which has deep relationships with Japanese businesses that operate in the United States, 2) Diversified Industries, serving middle market and larger mid-corporate clients, 3) Franchise Finance, serving top tier branded quick service restaurant franchisees, 4) Commercial Real Estate, 5) Small Business Administration (...