HOPE BANCORP INC

For the period ended Mar 31, 2026. Filed May 6, 2026.

About this filing

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.

Mar 31, 2026 · Filed May 6, 2026

HOPE$13.24-0.9%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Item 1. FINANCIAL STATEMENTS

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)
	March 31,2026	December 31,2025
ASSETS · (Dollars in thousands, except share data)
Cash and cash equivalents:
Cash and due from banks	$224,960	$209,478
Interest earning cash in other banks	369,809	350,581
Total cash and cash equivalents	594,769	560,059
Interest earning deposits in other financial institutions	7,688	—
Investment securities available for sale (“AFS”), at fair value	1,949,851	1,833,082
Investment securities held to maturity (“HTM”), at amortized cost; fair value of $221,976 and $227,024 at March 31, 2026 and December 31, 2025, respectively	236,101	239,782
Equity investments	43,412	42,476
Loans held for sale, at lower of cost or fair value	97,454	86,905
Loans receivable, net of allowance for credit losses of $155,114 and $156,661 at March 31, 2026 and December 31, 2025, respectively	14,484,575	14,544,351
Federal Home Loan Bank (“FHLB”) stock, at cost	17,700	17,700
Premises and equipment, net	68,621	69,589
Accrued interest receivable	53,734	52,211
Deferred tax assets, net	181,240	184,389
Bank owned life insurance (“BOLI”)	141,389	140,724
Investments in affordable housing partnerships	29,966	27,941
Operating lease right-of-use assets (“ROU”), net	55,594	57,443
Goodwill	484,129	480,916
Core deposit intangible assets, net	43,892	45,022
Servicing assets, net	13,636	12,954
Other assets	153,113	136,082
Total assets	$18,656,864	$18,531,626

(Continued)

CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION

(Unaudited)
	March 31,2026	December 31,2025
LIABILITIES AND STOCKHOLDERS’ EQUITY · (Dollars in thousands, except share data)
LIABILITIES:
Deposits:
Noninterest bearing	$3,387,757	$3,371,759
Interest bearing:
Money market and NOW accounts	4,965,613	4,700,146
Savings deposits	1,070,584	1,156,227
Time deposits	6,302,488	6,375,011
Total deposits	15,726,442	15,603,143
FHLB and Federal Reserve Bank (“FRB”) borrowings	284,966	284,922
Convertible notes and subordinated debentures, net	111,316	110,962
Accrued interest payable	68,399	78,310
Operating lease liabilities	57,314	59,258
Other liabilities	125,047	111,763
Total liabilities	$16,373,484	$16,248,358
Commitments and contingent liabilities (Note 9)
STOCKHOLDERS’ EQUITY:
Common stock, $0.001 par value; 300,000,000 and 300,000,000 authorized shares at March 31, 2026 and December 31, 2025, respectively: issued and outstanding 145,809,685 and 127,822,689 shares, respectively, at March 31, 2026, and issued and outstanding 145,584,490 and 128,201,655 shares, respectively, at December 31, 2025	$146	$146
Additional paid-in capital	1,523,015	1,523,702
Retained earnings	1,183,986	1,172,394
Treasury stock, at cost; 17,986,996 and 17,382,835 shares at March 31, 2026 and December 31, 2025, respectively	(271,372)	(264,667)
Accumulated other comprehensive loss, net	(152,395)	(148,307)
Total stockholders’ equity	2,283,380	2,283,268
Total liabilities and stockholders’ equity	$18,656,864	$18,531,626

CONSOLIDATED STATEMENTS OF INCOME

	Three Months Ended March 31,
	2026	2025
(Dollars in thousands, except per share data)
INTEREST INCOME:
Interest and fees on loans	$205,919	$194,961
Interest on investment securities	19,218	15,892
Interest on cash and deposits at other banks	3,778	5,205
Interest on other investments	1,229	1,108
Total interest income	230,144	217,166
INTEREST EXPENSE:
Interest on deposits	101,455	113,585
Interest on FHLB and FRB borrowings	2,408	356
Interest on other borrowings and debt	2,224	2,408
Total interest expense	106,087	116,349
NET INTEREST INCOME	124,057	100,817
PROVISION FOR CREDIT LOSSES	8,650	4,800
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	115,407	96,017
NONINTEREST INCOME:
Service fees on deposit accounts	3,335	2,921
International service, wire transfer and foreign currency fees	2,255	1,953
Other customer-driven income and fees	4,877	3,746
Net gains on sales of SBA loans	3,266	3,131
Net gains on sales of investment securities AFS	604	—
Other noninterest income	2,630	3,937
Total noninterest income	16,967	15,688
NONINTEREST EXPENSE:
Salaries and employee benefits	56,223	48,460
Occupancy, furniture and equipment	10,566	8,836
Software-related expense	6,285	4,588
Data and item processing	3,568	2,362
Amortization of investments in affordable housing partnerships	2,474	1,961
Federal Deposit Insurance Corporation (“FDIC”) assessments	2,814	2,502
FDIC special assessment (reversal)	(58)	—
Earned interest credit expense	2,383	3,087
Merger and restructuring-related costs	234	2,519
Other noninterest expense	9,966	9,546
Total noninterest expense	94,455	83,861
INCOME BEFORE INCOME TAXES	37,919	27,844
INCOME TAX PROVISION	8,379	6,748
NET INCOME	$29,540	$21,096
EARNINGS PER COMMON SHARE
Basic	$0.23	$0.17
Diluted	$0.23	$0.17

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

	Three Months Ended March 31,
	2026	2025
(Dollars in thousands)
Net income	$29,540	$21,096
Other comprehensive (loss) income:
Change in unrealized net holding (losses) gains on securities AFS	(8,719)	32,705
Change in unrealized net holding gains (losses) on interest rate contracts used in cash flow hedges	2,787	(1,184)
Reclassification adjustments for net losses (gains) realized in net income	202	(1,055)
Tax effect	1,642	(8,906)
Other comprehensive (loss) income, net of tax	(4,088)	21,560
Total comprehensive income	$25,452	$42,656

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, 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	319,330							—
Stock-based compensation, net of tax settlements			(220)					(220)
Cash dividends declared on common stock ($0.14 per share)				(16,908)				(16,908)
Comprehensive income:
Net income				21,096				21,096
Other comprehensive income						21,560		21,560
BALANCE, MARCH 31, 2025	121,074,988	$138		$1,445,153	$1,185,721		$(264,667)			$(206,312)	$2,160,033
BALANCE, DECEMBER 31, 2025	128,201,655	$146		$1,523,702	$1,172,394		$(264,667)			$(148,307)	$2,283,268
Issuance of shares pursuant to various stock plans, net of forfeitures and tax withholding cancellations	225,195							—
Stock-based compensation, net of tax settlements			(687)					(687)
Cash dividends declared on common stock ($0.14 per share)				(17,948)				(17,948)
Comprehensive income:
Net income				29,540				29,540
Other comprehensive loss						(4,088)		(4,088)
Repurchase of treasury stock	(604,161)				(6,705)				(6,705)
BALANCE, MARCH 31, 2026	127,822,689	$146		$1,523,015	$1,183,986		$(271,372)			$(152,395)	$2,283,380

CONSOLIDATED STATEMENTS OF CASH FLOWS

	Three Months Ended March 31,
	2026	2025
(Dollars in thousands)
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$29,540	$21,096
Adjustments to reconcile net income to net cash from operating activities:
Discount accretion, net of depreciation and amortization	15,143	10,197
Stock-based compensation expense	1,018	1,886
Provision for credit losses	8,650	4,800
Net gains on sales of loans	(3,703)	(4,920)
Net change in fair value of derivatives	(1,126)	(2,162)
Net gains on sales of investment securities AFS	(604)	—
Net change in deferred income taxes	1,572	3,645
Proceeds from sales of loans held for sale	63,635	27,161
Originations of loans held for sale	(73,673)	(7,148)
Originations of servicing assets	(1,630)	(1,444)
Net change in accrued interest receivable	(1,523)	1,183
Net change in other assets	4,837	6,374
Net change in accrued interest payable	(9,911)	(12,348)
Net change in other liabilities	(18,412)	(21,653)
Net cash provided by operating activities	13,813	26,667
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of interest earning deposits in other financial institutions	(7,688)	—
Investment securities available for sale:
Purchase of securities	(277,890)	(54,041)
Proceeds from matured, called, or paid-down securities	118,551	71,030
Proceeds from sales of securities	34,076	—
Investment securities held to maturity:
Proceeds from matured, called, or paid-down securities	4,488	3,041
Equity investments:
Purchase of investments	(964)	(45,726)
Proceeds from redemptions of investments	—	62
Proceeds from sales of loans held for sale previously classified as held for investment	48,356	58,269
Net change in loans receivable	9,272	215,824
Purchase of premises and equipment	(2,011)	(2,659)
Investments in affordable housing partnerships	(4,499)	—
Proceeds from redemptions of tax credit investments	2,265	—
Net cash (used in) provided by investing activities	(76,044)	245,800
CASH FLOWS FROM FINANCING ACTIVITIES
Net change in deposits	123,299	160,830
Proceeds from FHLB advances	—	100,000
Repayment of FHLB advances	—	(100,000)
Proceeds from FRB borrowings	—	172,000
Repayment of FRB borrowings	—	(311,000)
Purchase of treasury stock	(6,705)	—
Cash dividends paid on common stock	(17,948)	(16,908)
Taxes paid in net settlement of restricted stock	(1,705)	(2,106)
Net cash provided by financing activities	96,941	2,816
NET CHANGE IN CASH AND CASH EQUIVALENTS	34,710	275,283
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	560,059	458,199
CASH AND CASH EQUIVALENTS, END OF PERIOD	$594,769	$733,482
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	$115,600	$128,360
Cash paid for income taxes, net	53	1,639
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES
Transfer from loans receivable to loans held for sale	45,865	59,068
Lease liabilities arising from obtaining ROU assets	2,345	482
New commitments to fund investments in renewable energy tax credits	25,000	—
Merger with Territorial (See Note 15 - “Acquisitions”):
Identifiable assets acquired, net of cash	(3,213)	—
Goodwill	3,213	—

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.