HOPE BANCORP INC

Listed Company

HOPECIK 0001128361NasdaqLarge AcceleratedNational Commercial BanksDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$61.59M

Total Assets

$18.53B

Equity

$2.28B

Shares Out

128.20M

Op. Cash Flow

$164.55M

Business

HOPE BANCORP INC is a bank holding company that provides commercial and retail banking services through its wholly owned subsidiary, Bank of Hope. It offers lending and deposit products, treasury management, foreign currency exchange, interest-rate hedging, SBA lending, residential mortgages, consumer loans, and online banking in English and Korean. Its operations are organized primarily through the Bank and include lending activities (commercial and industrial, commercial real estate, SBA, and consumer), an investment securities portfolio, deposit-gathering and borrowing activities, and trust-preferred issuances. The company serves a multi-ethnic U.S. customer base via branches, loan production offices, online channels and a representative office in Seoul, South Korea.

Summary from filing dated 2025-02-26

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	837	837	893	661	528
Interest on investment securities	76	69	66	52	35
Interest-bearing Deposits in Banks and Other Financial Institutions	23	45	87	1	1
Interest on other investments	4	4	3	2	2
Total interest income	941	954	1,049	716	567
Interest on deposits	457	495	441	115	42
Interest Expense, FHLB and FRB borrowings	2	20	69	12	3
Interest on other borrowings and debt	10	11	12	11	9
Total interest expense	469	526	523	138	—
NET INTEREST INCOME BEFORE PROVISION FOR CREDIT LOSSES	472	428	526	578	513
Provision for credit losses	32	17	32	10	—
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	440	411	494	569	525
Service fees on deposit accounts	13	11	9	9	7
International service fees	3	3	3	3	4
Wire transfer and foreign currency fees	5	4	3	3	4
Swap fees	6	2	711,000	3	1
Net gains on sales of SBA loans	12	8	4	16	8
Net (losses) gains on sales of investment securities AFS	−38	936,000	0	0	—
Net gain on branch sales	0	1	0	0	—
Other income and fees	25	18	25	17	15
Total noninterest income	26	47	46	51	44
Salaries and employee benefits	214	178	208	205	175
Occupancy	34	27	29	28	29
Furniture, equipment and software	32	24	24	19	18
Data processing and item processing	12	10	9	11	10
Professional fees	9	9	6	6	12
Amortization of investments in affordable housing partnerships	11	9	8	9	11
FDIC assessments	11	11	13	6	5
FDIC special assessment	−691,000	691,000	4	0	0
Earned interest credit expense	13	23	22	11	2
Merger and restructuring-related costs	22	6	12	0	—
Other noninterest expense	33	27	26	29	29
Total noninterest expense	390	325	362	324	293
INCOME BEFORE INCOME TAXES	77	133	178	296	275
Income tax provision	16	33	44	78	71
NET INCOME	62	100	134	218	205
Basic (in dollars per share)	0.49	0.83	1.11	1.82	1.67
Diluted (in dollars per share)	0.49	0.82	1.11	1.81	1.66

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	209	223	173	214	271
Interest earning cash in other banks	351	236	1,756	293	45
Total cash and cash equivalents	560	458	1,929	507	316
Investment securities available for sale (AFS), at fair value	1,833	1,823	2,145	1,972	2,666
Amortized Cost	240	252	264	271	0
Equity investments	42	40	—	—	—
Loans held for sale, at lower of cost or fair value	87	15	3	49	99
Loans receivable, net of allowance for credit losses	14,544	13,468	13,695	15,241	13,812
Federal Home Loan Bank (FHLB) stock, at cost	18	17	17	19	17
Premises and equipment, net	70	52	51	47	46
Accrued interest receivable	52	51	62	55	42
Deferred tax assets, net	184	140	135	150	50
Bank owned life insurance (BOLI)	141	90	89	77	77
Investments in affordable housing partnerships	28	32	54	48	58
Operating lease right-of-use (ROU) assets, net	57	39	47	55	53
Goodwill	481	465	465	465	465
Core deposit intangible assets, net	45	2	4	6	8
Servicing assets, net	13	10	10	12	10
Other assets	136	99	119	145	95
Total assets	18,532	17,054	19,132	19,164	17,889
Noninterest bearing	3,372	3,378	3,915	4,849	5,752
Money market and NOW accounts	4,700	4,515	4,170	5,616	6,179
Savings deposits	1,156	660	702	283	321
Time deposits	6,375	5,774	5,967	4,990	2,788
Total deposits	15,600	14,330	14,750	15,740	15,040
FHLB and FRB borrowings	285	239	1,800	865	300
Convertible notes and subordinated debentures, net	111	110	108	—	—
Accrued interest payable	78	94	168	27	4
Operating lease liabilities	59	44	53	59	57
Other liabilities	112	106	111	119	61
Total liabilities	16,248	14,920	17,010	17,145	15,796
Common Stock, par value, issued	146,000	138,000	138,000	137,000	136,000
Additional paid-in capital	1,524	1,445	1,440	1,431	1,422
Retained earnings	1,172	1,182	1,151	1,084	933
Treasury Stock, at cost	−265	−265	−265	−265	−250
Accumulated other comprehensive loss, net	−148	−228	−205	−231	−11
Total stockholders equity	2,280	2,130	2,121	2,019	2,093
Total liabilities and stockholders equity	18,532	17,054	19,132	19,164	17,889

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Discount accretion, net of depreciation and amortization	70	53	23	30	26
Stock-based compensation expense	8	9	12	12	8
Provision for credit losses	32	17	32	10	—
Distribution Gain (Loss) From Investments	−120,000	−2,000	−6	0	0
Write-down of ROU assets	0	0	2	0	0
Net gains on sales of SBA loans	−14	−9	−4	−17	−13
Gains on BOLI	−3	−2	−2	0	—
Net change in fair value of derivatives	−7	−13	−16	−2	319,000
Net change in deferred income taxes	6	5	4	−9	20
Proceeds from sales of loans held for sale	200	64	135	239	229
Originations of loans held for sale	−150	−35	−58	−55	−192
Originations of servicing assets	−6	−3	−2	−5	−3
Net change in accrued interest receivable	4	11	−9	−17	17
Net change in other assets	−25	−4	108	2	52
Net change in accrued interest payable	−16	−74	142	22	−10
Net change in other liabilities	−32	−1	−22	57	−16
Net cash provided by operating activities	165	117	474	486	324
Investments in renewable energy tax credits	−36	−17	0	0	−4
Redemption of interest earning deposits in other financial institutions	0	0	735,000	12	20
Purchase of securities	−778	−275	−460	−212	−1,159
Proceeds from matured, called, or paid-down securities	245	304	317	325	695
Purchase of securities	0	0	−6	−42	0
Proceeds from matured, called, or paid-down securities	16	15	16	12	0
Purchase of investments	−48	−2	−1	−350,000	0
Proceeds from redemptions of investments	47	539,000	3,000	0	—
Proceeds from sales of loans held for sale previously classified as held for investment	143	194	327	161	336
Net change in loans receivable	0	0	−4	−56	−672
Net change in loans receivable	−279	−18	1,125	−1,680	—
Proceeds from sales of OREO	0	63,000	2	524,000	15
Purchase of FHLB and stock	0	0	−5	−21	0
Redemption of FHLB and FRB stock	11	0	6	20	0
Purchase of premises and equipment	−13	−10	−13	−9	−7
Payment to Acquire Life Insurance Policy, Investing Activities	0	0	−11	0	0
Proceeds from BOLI death benefits	3	633,000	587,000	1	1
Investments in affordable housing partnerships	−6	−3	−6	−4	−4
Cash Acquired from Acquisition	87	0	0	—	—
Net cash provided by investing activities	525	467	1,290	−1,474	−993
Net change in deposits	−401	−426	−985	698	707
Proceeds from FHLB advances	390	600	5,450	23,751	2,319
Repayment of FHLB advances	−365	−600	−5,950	−23,451	−2,269
Proceeds from FRB borrowings	311	1,258	36,104	16,548	0
Repayment of FRB borrowings	−450	−2,815	−34,673	−16,283	0
Repayments of Convertible Debt	0	0	−20	0	0
Repayments of Debt	0	0	−197	0	0
Cash dividends paid on common stock	−71	−68	−67	−67	−69
Taxes paid in net settlement of restricted stock	−3	−4	−3	−3	−3
Issuance of additional stock pursuant to various stock plans	1,000	0	1,000	531,000	0
Net cash used in financing activities	−588	−2,054	−341	1,179	635
NET CHANGE IN CASH AND CASH EQUIVALENTS	102	−1,471	1,422	191	−34
Cash paid for interest	485	599	380	113	62
Cash paid for income taxes, net	3	29	41	96	42
Transfer from loans receivable to OREO	365,000	0	105,000	938,000	0
Transfer from loans receivable to loans held for sale	258	255	421	312	473
Transfer from loans held for sale to loans receivable	4	26	22	12	20
Other Significant Noncash Transaction, Transfer of Long-Lived Assets to Held-for-Sale	2	0	0	—	—
Lease liabilities arising from obtaining ROU assets	10	6	8	17	965,000
Commitments to fund investments in affordable housing partnerships	0	0	15	0	0
New commitments to fund investment renewable energy tax credits	46	20	0	—	—
Noncash or Part Noncash Acquisition, Value of Assets Acquired	1,841	0	0	—	—
Noncash or Part Noncash Acquisition, Value of Liabilities Assumed	1,871	0	0	—	—
Goodwill, Acquired During Period	16	0	0	—	—
Noncash or Part Noncash Acquisition, Noncash Financial or Equity Instrument Consideration, Shares Issued	73	0	0	—	—

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