M&A - HOPE BANCORP INC

Form Type: DEF 14A

Filing Date: 2025-04-11

Corporate Action: Merger

Type: New

Accession Number: 000119312525078439

Filing Summary: Hope Bancorp, Inc. is set to hold its 2025 Annual Meeting of Stockholders on May 22, 2025, where stockholders will vote on key proposals including the election of 11 director nominees and the ratification of their independent auditor. The notice regarding the availability of proxy materials will be mailed around April 11, 2025. Notably, the company completed its merger with Territorial Bancorp Inc. on April 2, 2025, enhancing its market presence, particularly in Hawaii. This merger adds approximately $1.7 billion in core deposits and diversifies the company's loan portfolio. The merger also positions Hope Bancorp as the largest regional bank catering to multi-cultural customers in the U.S. and Hawaii. In 2024, the company improved its deposit base and loan growth, demonstrating strong capital ratios. The Proxy Statement also highlights the company’s commitment to responding to community needs following the 2025 Los Angeles wildfires, including a significant donation and support efforts for impacted customers. Overall, Hope Bancorp is focused on aligning its executive compensation structures with stockholder interests, receiving positive feedback regarding its governance practices.

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Form Type: 8-K

Filing Date: 2025-04-02

Corporate Action: Acquisition

Type: New

Accession Number: 000112836125000020

Filing Summary: On April 2, 2025, Hope Bancorp, Inc. announced the completion of its acquisition of Territorial Bancorp Inc. and its subsidiary, Territorial Savings Bank. The acquisition follows a Merger Agreement dated April 26, 2024, where Territorial merged into Hope Bancorp with Hope Bancorp as the surviving entity. Following the merger, Territorial Savings Bank merged into Bank of Hope, which will continue to operate under the name Territorial Savings, a division of Bank of Hope, effective April 2, 2025. Additionally, there was a change in title for Kyu S. Kim, who became the Chief Relationship Banking Officer of Hope Bancorp, effective April 1, 2025.

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Form Type: 8-K

Filing Date: 2025-03-03

Corporate Action: Merger

Type: Update

Accession Number: 000112836125000012

Filing Summary: On March 3, 2025, Hope Bancorp, Inc. and Territorial Bancorp Inc. announced the receipt of all required regulatory approvals for their merger, originally agreed upon on April 26, 2024. The merger involves Territorial merging into Hope Bancorp with the latter as the surviving entity. Additionally, Territorial Savings Bank will merge into Bank of Hope, which will continue as the surviving bank. The expected completion date for the merger is set for April 2025, pending customary closing conditions.

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