HOPE BANCORP INC
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
HOPE$13.24-0.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. FINANCIAL STATEMENTS
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
| (Unaudited) | ||
|---|---|---|
| September 30,2025 | December 31,2024 | |
| ASSETS · (Dollars in thousands, except share data) | ||
| Cash and cash equivalents: | ||
| Cash and due from banks | $223,966 | $222,658 |
| Interest earning cash in other banks | 230,943 | 235,541 |
| Total cash and cash equivalents | 454,909 | 458,199 |
| Investment securities available for sale (“AFS”), at fair value | 2,022,566 | 1,823,243 |
| Investment securities held to maturity (“HTM”), at amortized cost; fair value of $229,545 and $231,124 at September 30, 2025 and December 31, 2024, respectively | 243,468 | 252,385 |
| Equity investments | 88,711 | 39,946 |
| Loans held for sale, at lower of cost or fair value | 33,118 | 14,491 |
| Loans receivable, net of allowance for credit losses of $152,509 and $150,527 at September 30, 2025 and December 31, 2024, respectively | 14,434,390 | 13,467,745 |
| Federal Home Loan Bank (“FHLB”) stock, at cost | 17,700 | 17,250 |
| Premises and equipment, net | 69,152 | 51,759 |
| Accrued interest receivable | 53,159 | 51,169 |
| Deferred tax assets, net | 188,761 | 140,044 |
| Bank owned life insurance (“BOLI”) | 140,043 | 90,158 |
| Investments in affordable housing partnerships | 30,000 | 32,354 |
| Operating lease right-of-use assets (“ROU”), net | 56,425 | 39,432 |
| Goodwill | 478,330 | 464,450 |
| Core deposit intangible assets, net | 46,173 | 2,331 |
| Servicing assets, net | 12,391 | 10,051 |
| Other assets | 138,439 | 99,001 |
| Total assets | $18,507,735 | $17,054,008 |
(Continued)
CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
| (Unaudited) | ||
|---|---|---|
| September 30,2025 | December 31,2024 | |
| LIABILITIES AND STOCKHOLDERS’ EQUITY · (Dollars in thousands, except share data) | ||
| LIABILITIES: | ||
| Deposits: | ||
| Noninterest bearing | $3,507,659 | $3,377,950 |
| Interest bearing: | ||
| Money market and NOW accounts | 4,799,038 | 4,515,251 |
| Savings deposits | 1,196,450 | 660,484 |
| Time deposits | 6,328,115 | 5,773,804 |
| Total deposits | 15,831,262 | 14,327,489 |
| FHLB and Federal Reserve Bank (“FRB”) borrowings | 24,878 | 239,000 |
| Convertible notes and subordinated debentures, net | 110,610 | 109,584 |
| Accrued interest payable | 74,376 | 93,784 |
| Operating lease liabilities | 58,762 | 44,059 |
| Other liabilities | 151,951 | 105,587 |
| Total liabilities | $16,251,839 | $14,919,503 |
| Commitments and contingent liabilities (Note 9) | ||
| STOCKHOLDERS’ EQUITY: | ||
| Common stock, $0.001 par value; 300,000,000 and 300,000,000 authorized shares at September 30, 2025 and December 31, 2024, respectively: issued and outstanding 145,568,106 and 128,185,271 shares, respectively, at September 30, 2025, and issued and outstanding 138,138,493 and 120,755,658 shares, respectively, at December 31, 2024 | $146 | $138 |
| Additional paid-in capital | 1,521,669 | 1,445,373 |
| Retained earnings | 1,152,810 | 1,181,533 |
| Treasury stock, at cost; 17,382,835 and 17,382,835 shares at September 30, 2025 and December 31, 2024, respectively | (264,667) | (264,667) |
| Accumulated other comprehensive loss, net | (154,062) | (227,872) |
| Total stockholders’ equity | 2,255,896 | 2,134,505 |
| Total liabilities and stockholders’ equity | $18,507,735 | $17,054,008 |
CONSOLIDATED STATEMENTS OF INCOME
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| (Dollars in thousands, except per share data) | ||||
| INTEREST INCOME: | ||||
| Interest and fees on loans | $216,859 | $210,022 | $623,261 | $633,331 |
| Interest on investment securities | 21,467 | 16,741 | 55,128 | 51,619 |
| Interest on cash and deposits at other banks | 5,273 | 7,507 | 19,261 | 39,974 |
| Interest on other investments | 1,186 | 814 | 3,471 | 2,435 |
| Total interest income | 244,785 | 235,084 | 701,121 | 727,359 |
| INTEREST EXPENSE: | ||||
| Interest on deposits | 115,425 | 127,193 | 347,862 | 373,803 |
| Interest on FHLB and FRB borrowings | 273 | 329 | 993 | 19,612 |
| Interest on other borrowings and debt | 2,445 | 2,753 | 7,274 | 8,228 |
| Total interest expense | 118,143 | 130,275 | 356,129 | 401,643 |
| NET INTEREST INCOME BEFORE PROVISION FOR CREDIT LOSSES | 126,642 | 104,809 | 344,992 | 325,716 |
| PROVISION FOR CREDIT LOSSES | 8,710 | 3,280 | 28,510 | 7,280 |
| NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES | 117,932 | 101,529 | 316,482 | 318,436 |
| NONINTEREST INCOME: | ||||
| Service fees on deposit accounts | 3,235 | 2,651 | 9,262 | 7,919 |
| International service fees | 641 | 711 | 2,140 | 2,441 |
| Wire transfer and foreign currency fees | 1,481 | 926 | 3,525 | 2,712 |
| Swap fees | 613 | 21 | 2,920 | 189 |
| Net gains on sales of SBA loans | 2,774 | 2,722 | 9,903 | 4,702 |
| Net (losses) gains on sales of investment securities AFS | — | (326) | (38,856) | 99 |
| Other income and fees | 6,641 | 5,134 | 19,223 | 13,134 |
| Total noninterest income | 15,385 | 11,839 | 8,117 | 31,196 |
| NONINTEREST EXPENSE: | ||||
| Salaries and employee benefits | 54,910 | 44,160 | 156,204 | 135,844 |
| Occupancy | 9,153 | 6,940 | 25,203 | 20,632 |
| Furniture and equipment | 7,895 | 5,341 | 21,425 | 16,156 |
| Data processing and communications | 4,231 | 3,112 | 10,740 | 9,099 |
| Professional fees | 2,278 | 1,969 | 6,119 | 6,679 |
| Amortization of investments in affordable housing partnerships | 3,216 | 2,206 | 7,607 | 6,623 |
| FDIC assessments | 2,942 | 2,200 | 7,932 | 8,129 |
| FDIC special assessment | — | — | — | 691 |
| Earned interest credit expense | 3,529 | 6,869 | 9,926 | 18,842 |
| Merger and restructuring-related costs | 958 | 1,433 | 20,758 | 5,044 |
| Other noninterest expense | 7,749 | 7,038 | 24,281 | 19,355 |
| Total noninterest expense | 96,861 | 81,268 | 290,195 | 247,094 |
| INCOME BEFORE INCOME TAXES | 36,456 | 32,100 | 34,404 | 102,538 |
| INCOME TAX PROVISION | 5,613 | 7,941 | 10,346 | 27,245 |
| NET INCOME | $30,843 | $24,159 | $24,058 | $75,293 |
| EARNINGS PER COMMON SHARE | ||||
| Basic | $0.24 | $0.20 | $0.19 | $0.62 |
| Diluted | $0.24 | $0.20 | $0.19 | $0.62 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| (Dollars in thousands) | ||||
| Net income | $30,843 | $24,159 | $24,058 | $75,293 |
| Other comprehensive income: | ||||
| Change in unrealized net holding gains on securities AFS | 23,909 | 69,000 | 67,094 | 45,885 |
| Change in unrealized net holding gains (losses) on interest rate contracts used in cash flow hedges | 367 | 3,178 | (1,673) | (7,758) |
| Reclassification adjustments for net (gains) losses realized in net income | (126) | (847) | 37,294 | (7,019) |
| Tax effect | (6,808) | (20,980) | (28,905) | (9,149) |
| Other comprehensive income, net of tax | 17,342 | 50,351 | 73,810 | 21,959 |
| Total comprehensive income | $48,185 | $74,510 | $97,868 | $97,252 |
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
| Common stock · Additional paid-in capital · Retained earnings · Treasury stock · Accumulated other comprehensive loss, net · Totalstockholders’ equity | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount | |||||||||||
| (Dollars in thousands, except share and per share data) | |||||||||||
| BALANCE, JUNE 30, 2024 | 120,731,342 | $138 | $1,440,963 | $1,167,978 | $(264,667) | $(233,130) | $2,111,282 | ||||
| Adoption of ASU 2022-02 | (1,605) | (1,605) | |||||||||
| Adoption of ASU 2022-02 tax impact | 472 | 472 | |||||||||
| Issuance of shares pursuant to various stock plans, net of forfeitures and tax withholding cancellations | 6,566 | — | |||||||||
| Stock-based compensation, net of tax settlements | 2,030 | 2,030 | |||||||||
| Cash dividends declared on common stock ($0.14 per share) | (16,904) | (16,904) | |||||||||
| Comprehensive income: | |||||||||||
| Net income | 24,159 | 24,159 | |||||||||
| Other comprehensive income | 50,351 | 50,351 | |||||||||
| BALANCE, SEPTEMBER 30, 2024 | 120,737,908 | $138 | $1,442,993 | $1,174,100 | $(264,667) | $(182,779) | $2,169,785 | ||||
| BALANCE, JUNE 30, 2025 | 128,124,458 | $146 | $1,520,129 | $1,139,913 | $(264,667) | $(171,404) | $2,224,117 | ||||
| Issuance of shares pursuant to various stock plans, net of forfeitures and tax withholding cancellations | 60,813 | — | — | ||||||||
| Stock-based compensation, net of tax settlements | 1,540 | 1,540 | |||||||||
| Cash dividends declared on common stock ($0.14 per share) | (17,946) | (17,946) | |||||||||
| Comprehensive income: | |||||||||||
| Net income | 30,843 | 30,843 | |||||||||
| Other comprehensive income | 17,342 | 17,342 | |||||||||
| BALANCE, SEPTEMBER 30, 2025 | 128,185,271 | $146 | $1,521,669 | $1,152,810 | $(264,667) | $(154,062) | $2,255,896 | ||||
(Continued)
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY
| Common stock · Additional paid-in capital · Retained earnings · Treasury stock · Accumulated other comprehensive loss, net · Totalstockholders’ equity | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares · Amount | |||||||||||
| (Dollars in thousands, except share and per share data) | |||||||||||
| BALANCE, DECEMBER 31, 2023 | 120,126,786 | $138 | $1,439,963 | $1,150,547 | $(264,667) | $(204,738) | $2,121,243 | ||||
| Adoption of ASU 2022-02 | (1,605) | (1,605) | |||||||||
| Adoption of ASU 2022-02 tax impact | 472 | 472 | |||||||||
| Issuance of shares pursuant to various stock plans, net of forfeitures and tax withholding cancellations | 611,122 | — | |||||||||
| Stock-based compensation, net of tax settlements | 3,030 | 3,030 | |||||||||
| Cash dividends declared on common stock ($0.42 per share) | (50,607) | (50,607) | |||||||||
| Comprehensive income: | |||||||||||
| Net income | 75,293 | 75,293 | |||||||||
| Other comprehensive income | 21,959 | 21,959 | |||||||||
| BALANCE, SEPTEMBER 30, 2024 | 120,737,908 | $138 | $1,442,993 | $1,174,100 | $(264,667) | $(182,779) | $2,169,785 | ||||
| BALANCE, DECEMBER 31, 2024 | 120,755,658 | $138 | $1,445,373 | $1,181,533 | $(264,667) | $(227,872) | $2,134,505 | ||||
| Issuance of shares pursuant to various stock plans, net of forfeitures and tax withholding cancellations | 452,859 | 1 | 1 | ||||||||
| Stock-based compensation, net of tax settlements | 2,977 | 2,977 | |||||||||
| Issuance of shares in exchange for Territorial Bancorp Inc. ("Territorial") common stock | 6,976,754 | 7 | 73,319 | 73,326 | |||||||
| Cash dividends declared on common stock ($0.42 per share) | (52,781) | (52,781) | |||||||||
| Comprehensive income: | |||||||||||
| Net income | 24,058 | 24,058 | |||||||||
| Other comprehensive income | 73,810 | 73,810 | |||||||||
| BALANCE, SEPTEMBER 30, 2025 | 128,185,271 | $146 | $1,521,669 | $1,152,810 | $(264,667) | $(154,062) | $2,255,896 | ||||
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| (Dollars in thousands) | ||
| CASH FLOWS FROM OPERATING ACTIVITIES | ||
| Net income | $24,058 | $75,293 |
| Adjustments to reconcile net income to net cash from operating activities: | ||
| Discount accretion, net of depreciation and amortization | 46,301 | 28,054 |
| Stock-based compensation expense | 5,557 | 6,496 |
| Provision for credit losses | 28,510 | 7,280 |
| Net gains on sales of loans | (11,921) | (5,059) |
| Gains on BOLI | (1,795) | (1,298) |
| Net change in fair value of derivatives | (5,565) | (9,923) |
| Valuation on HFS loans | — | 1,552 |
| Net losses (gains) on sale of investment securities AFS | 38,856 | (99) |
| Net change in deferred income taxes | 7,929 | 4,001 |
| Proceeds from sales of loans held for sale | 125,016 | 40,050 |
| Originations of loans held for sale | (115,388) | (28,197) |
| Originations of servicing assets | (4,807) | (1,839) |
| Net change in accrued interest receivable | 3,228 | 9,822 |
| Net change in other assets | (14,459) | 31,110 |
| Net change in accrued interest payable | (20,352) | (61,157) |
| Net change in other liabilities | (17,389) | (29,003) |
| Net cash provided by operating activities | 87,779 | 67,083 |
| CASH FLOWS FROM INVESTING ACTIVITIES | ||
| Purchase of investments in tax credit structures | (7,223) | — |
| Investment securities available for sale: | ||
| Purchase of securities | (717,526) | (136,499) |
| Proceeds from matured, called, or paid-down securities | 166,341 | 246,829 |
| Proceeds from sales and calls of securities | 953,057 | 157,692 |
| Investment securities held to maturity: | ||
| Proceeds from matured, called, or paid-down securities | 11,429 | 10,205 |
| Purchase of equity investments | (47,945) | (1,175) |
| Proceeds from redemptions of equity investments | 273 | 305 |
| Proceeds from sales of loans held for sale previously classified as held for investment | 137,185 | 82,800 |
| Net change in loans receivable | (70,692) | 109,345 |
| Proceeds from sales of OREO | — | 63 |
| Redemption of FHLB and FRB stock | 11,247 | — |
| Purchase of premises and equipment | (9,710) | (7,547) |
| Proceeds from BOLI death benefits | 2,809 | — |
| Investments in affordable housing partnerships | (5,192) | (3,157) |
| Net cash received from Merger with Territorial | 86,696 | — |
| Net cash provided by investing activities | 510,749 | 458,861 |
| CASH FLOWS FROM FINANCING ACTIVITIES | ||
| Net change in deposits | (172,458) | (24,255) |
| Proceeds from FHLB advances | 115,000 | 400,000 |
| Repayment of FHLB advances | (350,000) | (400,000) |
| Proceeds from FRB borrowings | 238,200 | 786,100 |
| Repayment of FRB borrowings | (377,200) | (2,481,826) |
| Cash dividends paid on common stock | (52,781) | (50,607) |
| Taxes paid in net settlement of restricted stock | (2,580) | (3,466) |
| Issuance of additional stock pursuant to various stock plans | 1 | — |
| Net cash used in financing activities | (601,818) | (1,774,054) |
| NET CHANGE IN CASH AND CASH EQUIVALENTS | (3,290) | (1,248,110) |
| CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 458,199 | 1,928,967 |
| CASH AND CASH EQUIVALENTS, END OF PERIOD | $454,909 | $680,857 |
| SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION | ||
| Cash paid for interest | $376,347 | $461,820 |
| Cash paid for income taxes, net | 1,799 | 27,630 |
| SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES | ||
| Transfer from loans receivable to loans held for sale | $153,609 | $140,994 |
| Transfer from loans held for sale to loans receivable | — | 26,491 |
| Transfer from premises and equipment to premises held for sale | 1,526 | — |
| Lease liabilities arising from obtaining ROU assets | 5,356 | 5,490 |
| New commitments to fund investments in renewable energy tax credits | 46,195 | — |
| Merger with Territorial (See Note 16 - “Business Combinations”): | ||
| Identifiable assets acquired, net of cash | 1,843,867 | — |
| Liabilities assumed | 1,871,117 | — |
| Goodwill | 13,880 | — |
| Issuance of common stock as consideration | 73,326 | — |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.