Hope Bancorp Inc (OQ:HOPE)
Business Focus: Commercial Banks
| Sector: Financials | Industry: Banks |
| See Regulatory Filings on SEC | |
| Company Contact | |
| Address: | 3200 Wilshire Blvd Ste 1400 LOS ANGELES CA 90010 |
| Tel: | 1-213-2512219 |
| Website: | https://www.ir-hopebancorp.com |
| IR: | See website |
| Key People | ||
| Kevin S. Kim Chairman of the Board, President, Chief Executive Officer | Julianna Balicka Chief Financial Officer, Executive Vice President | Peter J. Koh Chief Operating Officer, Senior Executive Vice President |
| Thomas P. Stenger Executive Vice President, Chief Risk Officer of Bank of Hope | Jason K. Kim Senior Executive Vice President, Western Regional President of Bank of Hope | Kyu S. Kim Senior Executive Vice President, Eastern Regional President of Bank of Hope |
| Business Overview |
| Hope Bancorp, Inc. is the holding company of Bank of Hope (the Bank). The Company's loan portfolio segments include commercial real estate (CRE) loans, commercial and industrial (C&I) loans, residential mortgage loans, and consumer and other loans. CRE loans are extended for the purchase and refinance of commercial real estate and are generally secured by first deeds of trust and are collateralized by residential or commercial properties. C&I loans are loans provided to businesses for various purposes such as for working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance activities, and other business related financing needs, and also include syndicated loans. Residential mortgage loans are extended for personal, family, or household use and are secured by a mortgage or deed of trust. Consumer and other loans consist of home equity, credit cards, and other personal loans. It operates over 54 full-service branches in the United States. |
| Financial Overview |
| For the three months ended 31 March 2024, Hope Bancorp Inc interest income increased 10% to $259.7M. Net interest income after loan loss provision decreased 14% to $112.4M. Net income decreased 34% to $25.9M. Net interest income after loan loss provision reflects Net Interest Margin, Total -% decrease of 16% to 2.55%, Net Interest Spread, Total -% decrease of 35% to 1.23%, Interest and fees on loans decrease of 1% to $213.6M. |
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