Hope Bancorp Inc (OQ:HOPE)

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
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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 fiscal year ended 31 December 2023, Hope Bancorp Inc interest income increased 46% to $1.05B. Net interest income after loan loss provision decreased 13% to $496.8M. Net income decreased 39% to $133.7M. Net interest income after loan loss provision reflects Net Interest Margin, Total -% decrease of 16% to 2.81%, Net Interest Spread, Total -% decrease of 44% to 1.6%, Interest on other investments decrease of 9% to $2.9M.
Employees: 1,244 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $1,192M as of Dec 31, 2023
Annual revenue (TTM): $1,051M as of Dec 31, 2023
EBITDA (TTM): $276.66M as of Dec 31, 2023
Net annual income (TTM): $133.67M as of Dec 31, 2023
Free cash flow (TTM): $393.53M as of Dec 31, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 120,610,029 as of Mar 25, 2024
Index Membership: S&P 600 Small Cap
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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