Hope Bancorp Files 8-K on Financials and Operations

Ticker: HOPE · Form: 8-K · Filed: Apr 29, 2024 · CIK: 1128361

Hope Bancorp Inc 8-K Filing Summary
FieldDetail
CompanyHope Bancorp Inc (HOPE)
Form Type8-K
Filed DateApr 29, 2024
Risk Levellow
Pages4
Reading Time5 min
Key Dollar Amounts$0.001, $0.14, $0.01
Sentimentneutral

Sentiment: neutral

Topics: financial-results, sec-filing

Related Tickers: HOPE

TL;DR

HOPE files 8-K for Q1 results, check financials.

AI Summary

Hope Bancorp, Inc. filed an 8-K on April 29, 2024, reporting on its financial results and other events as of April 26, 2024. The filing includes information on its operations, financial condition, and exhibits, with no specific dollar amounts or new material events detailed in the provided text.

Why It Matters

This 8-K filing provides an update on Hope Bancorp's financial condition and operational results, which is important for investors to assess the company's performance.

Risk Assessment

Risk Level: low — The filing is a routine 8-K reporting on financial results and does not indicate any immediate or significant risks.

Key Players & Entities

  • HOPE BANCORP INC (company) — Registrant
  • BBCN BANCORP INC (company) — Former company name
  • NARA BANCORP INC (company) — Former company name

FAQ

What is the reporting period for this 8-K filing?

The report is for the period ending April 26, 2024, with the filing date of April 29, 2024.

What are the main items reported in this 8-K?

This 8-K covers Results of Operations and Financial Condition, Regulation FD Disclosure, Other Events, and Financial Statements and Exhibits.

What was Hope Bancorp's former company name?

Hope Bancorp, Inc. was formerly known as BBCN BANCORP INC and NARA BANCORP INC.

In which state is Hope Bancorp incorporated?

Hope Bancorp, Inc. is incorporated in Delaware.

What is the principal executive office address for Hope Bancorp?

The principal executive offices are located at 3200 Wilshire Boulevard, Suite 1400, Los Angeles, California 90010.

Filing Stats: 1,251 words · 5 min read · ~4 pages · Grade level 10.1 · Accepted 2024-04-29 09:08:07

Key Financial Figures

  • $0.001 — of the Act: Common Stock , par value $0.001 per share HOPE NASDAQ Global Select Mar
  • $0.14 — s declared a quarterly cash dividend of $0.14 per common share. The cash dividend is
  • $0.01 — r each share of common stock, par value $0.01 per share, of Territorial. The Merger A

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On April 29, 2024, Hope Bancorp, Inc. ("HOPE" or the "Company") issued a news release concerning its results of operations and financial condition for the first quarter ended and as of March 31, 2024. A copy of the April 29, 2024, news release is furnished as Exhibit 99.1 and incorporated herein by reference.

01. Regulation FD Disclosure

Item 7.01. Regulation FD Disclosure The Company previously announced that it will host an investor conference call on Monday, April 29, 2024, at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review financial results for its first quarter ended and as of March 31, 2024. A presentation to accompany the conference call ("Earnings Presentation"), which contains certain historical and forward-looking information relating to the Company, has been made available at the Investor Relations section of Hope Bancorp's website at www.ir-hopebancorp.com. A copy of the Earnings Presentation is furnished as Exhibit 99.2 and incorporated herein by reference. Another presentation to accompany the conference call ("Merger Agreement Presentation") that contains certain historical and forward-looking information relating to the Company's proposed merger with Territorial Bancorp Inc., as further described under Item 8.01 below, has been made available at the Investor Relations section of Hope Bancorp's website at www.ir-hopebancorp.com. A copy of the Merger Agreement Presentation is furnished as Exhibit 99.5 and incorporated herein by reference. The information furnished under Item 2.02, Item 7.01 and exhibits 99.1, 99.2 and 99.5 under Item 9.01 of this Current Report on Form 8-K to this Current Report on Form 8-K) shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act") or otherwise subject to liabilities under that Section, nor shall they be deemed incorporated by reference in any registration statement or other filings of the Company under the Securities Act of 1933 or the Exchange Act, except as shall be set forth as a specific reference in such filing.

01 Other Events

Item 8.01 Other Events. On April 29, 2024, the Company issued a news release announcing that its Board of Directors declared a quarterly cash dividend of $0.14 per common share. The cash dividend is payable on or about May 23, 2024, to all stockholders of record as of the close of business on May 9, 2024. A copy of the April 29, 2024, news release is attached hereto as Exhibit 99.3 and is incorporated herein by reference. On April 26, 2024, the Company entered into an Agreement and Plan of Merger (the "Merger Agreement") with Territorial Bancorp Inc., a Maryland corporation ("Territorial"). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, Territorial will merge with and into the Company, with the Company continuing as the surviving entity (the "Merger"). Following the Merger, Territorial Savings Bank, a wholly owned subsidiary of Territorial, will merge with and into Bank of Hope, a wholly owned subsidiary of the Company, with Bank of Hope continuing as the surviving bank. The Merger Agreement was unanimously approved by the Boards of Directors of each of the Company and Territorial. On April 29, 2024, the Company and Territorial issued a joint press release announcing the execution of the Merger Agreement. A copy of the joint press release is attached as Exhibit 99.4 and is incorporated herein by reference. Additional Information and Where to Find

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits Exhibit No. Description of Exhibit 99.1 News release, dated April 29 , 2024, concerning the results of operations and financial condition for the first quarter ended and as of March 31, 202 4 . 99.2 2024 First Quarter Earnings Presentation , dated April 29 , 2024. 99.3 News release, dated April 29, 2024, announcing the declaration of a quarterly cash dividend. 99.4 News release, dated April 29 , 2024, announcing the definitive merger agreement between Hope Banco rp, Inc. and Territorial Bancorp Inc . 99.5 Merger Agreement Presentation, dated April 29, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HOPE BANCORP, INC. Date: April 29, 2024 By: /s/ Kevin S. Kim Kevin S. Kim Chairman, President and Chief Executive Officer

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