Hope Bancorp, Inc. (HOPE) Announces $50M Share Buyback

January 24, 2022 4:19 PM EST

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Hope Bancorp, Inc. (NASDAQ: HOPE), the holding company of Bank of Hope (the “Bank”), today announced that its board of directors has approved a new stock repurchase program authorizing the Company to repurchase up to $50 million of its common stock.

“The strong financial performance for the 2021 fourth quarter further supports our board and management’s confidence in the long-term prospects of our franchise,” said Kevin S. Kim, Chairman, President and Chief Executive Officer of Hope Bancorp, Inc. “This new $50 million stock repurchase program underscores our ongoing commitment to returning capital to our shareholders.”

The stock repurchase authorization does not have any expiration date and may be modified, amended, suspended or discontinued at the Company’s discretion at any time without notice. Stock repurchases may be made in open-market transactions, in block transactions on or off an exchange, in privately negotiated transactions or by other means as determined by the Company’s management and in accordance with the regulations of the Securities and Exchange Commission. The timing of repurchases and the number of shares repurchased under the program will depend on a variety of factors including price, trading volume, corporate and regulatory requirements and market conditions. Repurchases may also be made under a trading plan under Rule 10b5-1, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions.

Investor Conference Call

The Company previously announced that it will host an investor conference call on Tuesday, January 25, 2022 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review financial results for its fourth quarter and full year ended December 31, 2021. Investors and analysts are invited to access the conference call by dialing 866-235-9917 (domestic) or 412-902-4103 (international) and asking for the “Hope Bancorp Call.” A presentation to accompany the earnings call will be available at the Investor Relations section of Hope Bancorp’s website at www.ir-hopebancorp.com. Other interested parties are invited to listen to a live webcast of the call available at the Investor Relations section of Hope Bancorp’s website. After the live webcast, a replay will remain available in the Investor Relations section of Hope Bancorp’s website for one year. A telephonic replay of the call will be available at 877-344-7529 (domestic) or 412-317-0088 (international) for one week through February 1, 2022, replay access code 7703555.

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