Hope Bancorp Company profile
About Hope Bancorp Inc
Hope Bancorp, Inc. is the holding company of Bank of Hope. Bank of Hope is a California state-chartered bank (the Bank). The Bank offers commercial and retail banking loan and deposit products. The Company’s principal business activities are conducted through the Bank and primarily consist of earning interest on loans and investment securities that are primarily funded by customer deposits and other borrowings. The Company offers business banking products for small and medium-sized businesses and individuals. It accepts deposits and originate a range of loans, including commercial business loans, real estate loans, trade finance loans, small business administration (SBA) loans, auto loans, single-family mortgages, warehouse lines of credit, personal loans, and credit cards. It offers cash management services to its business customers. The Company also offers investment and wealth management services to its clients, and mobile banking application for smart devices.
Financial summary
BRIEF: For the fiscal year ended 31 December 2021, Hope Bancorp Inc interest income decreased 5% to $566.5M. Net interest income after loan loss provision increased 10% to $512.8M. Net income increased 83% to $204.6M. Net interest income after loan loss provision reflects Net Interest Margin, Total -% increase of 3% to 3.09%, Net Interest Spread, Total -% increase of 11% to 2.86%.
Equity composition
Common Stock $.001 Par, 03/11, 100M auth., 37,993,327 issd., Insiders own approx. 5.2%. Pref. Stock $ .001 Par, 10M auth., 67,000 issd. IPO: N/A. 6/04, 3/03, 2-for-1 stock split; 6/99, 8% Stock dividend. *NOTE: 2/01, Company reorganized into a bank holding Co. on a share-for-share basis and changed its name from Nara Bank, N.A.
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