Hope Bancorp, Inc. (HOPE) Reports In-Line Q3 EPS

Hope Bancorp, Inc. (NASDAQ: HOPE) reported Q3 EPS of $0.36, in-line with the analyst estimate of $0.36.

“Bank of Hope delivered a successful quarter in terms of business development with loan originations of $784 million, resulting in a 7% increase in loans receivable year-to-date,” said Kevin S. Kim, President and Chief Executive Officer. “At the same time, the deposit environment has become increasingly more challenging, which impacted our bottom line results. We have implemented a number of initiatives to enhance our deposit mix and the value of our overall franchise. While we recognize that any deposit strategy will take time to deliver results, we believe our efforts will improve our sensitivity to market rates and lead to enhanced profitability longer term. The Board and management remain confident about the prospects of Bank of Hope and will continue to focus on driving value creation for all of our stakeholders,” said Kim.

For earnings history and earnings-related data on Hope Bancorp, Inc. (HOPE) click here.

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