Hope Bancorp Reports Financial Results for the First Quarter Ended March 31, 2026

About this update from Hope Bancorp, Inc.

[{"type":"text","content":"\nFor the first quarter of 2026, net income of $29.5 million, up 40% year-over-year\n\n\n LOS ANGELES--(BUSINESS WIRE)--\nHope Bancorp, Inc. (the “Company” or “Hope”) (NASDAQ: HOPE), the holding company of Bank of Hope (the “Bank”), today reported unaudited financial results for its first quarter ended March 31, 2026.\n\n\nFor the three months ended March 31, 2026, the Company recorded net income of $29.5 million, or $0.23 per diluted common share, up 40% from net income of $21.1 million, or $0.17 per diluted common share, for the three months ended March 31, 2025, and down 14% from net income of $34.5 million, or $0.27 per diluted common share, for the three months ended December 31, 2025. For the three months ended March 31, 2026, the Company recorded pre-provision net revenue(1) (“PPNR”) of $46.6 million, up 43% from PPNR of $32.6 million for the three months ended March 31, 2025, and up 1% from PPNR of $46.3 million for the three months ended December 31, 2025.\n\n\n“In the 2026 first quarter, we delivered year-over-year growth in net income, revenue, loans and deposits, driven by organic growth and the strategic benefits of the Territorial Bancorp acquisition. Quarter-over-quarter, we saw pre-provision net revenue growth and improved efficiency, supported by disciplined expense management, a stable net interest margin and continued progress in lowering our cost of deposits. We also returned capital through repurchases of common shares during the quarter,” said Kevin S. Kim, Chairman, President and Chief Executive Officer.\n\n\n“On March 31, 2026, we announced the accretive acquisition of the Commercial Banking Unit of SMBC MANUBANK (“MANUBANK”), which aligns directly with our key priorities of building our commercial banking capabilities, expanding our reach among middle market and multinational clients, and growing our core deposit franchise,” continued Kim. “We expect to close the transaction in the second half of this year, subject to regulatory approvals and the satisfaction of other customary closing conditions. The pending acquisition is projected to strengthen our core earnings power and efficiently deploy capital, improving our profitability and optimizing our capital ratios without the issuance of new shares. In addition, our future collaboration and partnership with SMBC is expected to create meaningful opportunit...

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