Hope Bancorp

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Hope Bancorp, Inc. is a financial holding company that operates primarily through its subsidiary, Bank of Hope. The company was founded in 1983 and is headquartered in Los Angeles, California. It provides a range of banking products and services, including commercial, small business, and consumer banking, as well as specialized services such as SBA lending and trade finance.
The company was formerly known as BBCN Bancorp, Inc. and changed its name to Hope Bancorp, Inc. in August 2016. The name change came after the company completed its acquisition of Wilshire Bancorp, Inc. and its subsidiary, Wilshire Bank, in July 2016. This acquisition expanded Bank of Hope’s presence in the Korean-American community and in other Asian-American communities in the United States.
Currently, Bank of Hope operates 58 branches in California, Washington, Texas, Illinois, New York, Virginia, New Jersey, and Alabama, as well as 10 loan production offices. The majority of its customers are small- to medium-sized businesses and individuals in diverse ethnic communities.
In addition to traditional banking services, Hope Bancorp also offers wealth management and investment services through its Wealth Management and Retirement Services division.
The company is publicly traded on the NASDAQ stock exchange under the ticker symbol HOPE. As of June 2021, the company had a market capitalization of approximately $1.4 billion. Its current Chairman, President, and Chief Executive Officer is Kevin S. Kim.

1. Strong focus on diversity and inclusion: Hope Bancorp has a deep commitment to diversity and inclusion, both within the company and in the communities it serves. The company’s board of directors and leadership team are made up of individuals from diverse backgrounds.
2. Heavy emphasis on community development: As a community-focused bank, Hope Bancorp places a strong emphasis on community development and reinvesting in the neighborhoods it serves. The company partners with local organizations to support affordable housing, small business development, and financial education initiatives.
3. Expertise in serving immigrant communities: Hope Bancorp has a long history of serving the financial needs of immigrant communities, particularly in the Asian American market. The company offers specialized services and resources to help these customers navigate the financial system and achieve their financial goals.
4. Strong financial performance: Despite economic challenges, Hope Bancorp has consistently delivered strong financial results. In 2020, the company reported record earnings and assets, highlighting its resilience and stability in the face of adversity.
5. Commitment to responsible banking: Hope Bancorp practices responsible banking by strictly adhering to ethical and sustainable business practices. The company prioritizes transparency, fair treatment of customers, and responsible lending to support the long-term economic success of its customers and communities.
6. Innovative digital banking solutions: In recent years, Hope Bancorp has invested in modernizing its technology and digital banking capabilities, offering customers a convenient and secure way to manage their finances. This has helped the company attract and retain a younger, tech-savvy customer base.
7. Recognized for its performance and values: Hope Bancorp has received numerous awards and accolades for its financial performance, community involvement, and commitment to diversity and inclusion. These include being named a Top Dividend Stock and a Best Bank by Forbes and being recognized as a DiversityInc Noteworthy Company for five consecutive years.

The business model of Hope Bancorp, Inc. is that of a bank holding company. It provides financial services primarily to small and medium-sized businesses and individuals through its subsidiary, Bank of Hope, a federally chartered bank. The company offers various banking products and services, including deposits, loans, wealth management, and other related financial services. Hope Bancorp’s target market includes the Korean-American and other diverse communities in the US. The company’s goal is to generate stable, diversified, and sustainable earnings by providing customized financial solutions and exceptional service to its customers while maintaining a strong balance sheet and risk management practices.

1. Formerly known as Wilshire Bancorp, Hope Bancorp is a U.S.-based bank holding company that operates through its subsidiary, Bank of Hope.
2. The company was founded in 1983 and is headquartered in Los Angeles, California.
3. Hope Bancorp is one of the largest Korean-American banks in the United States, with a strong presence in California, Texas, Illinois, Virginia, New York, and New Jersey.
4. The company went public in 2001 and is listed on the NASDAQ stock exchange under the ticker symbol HOPE.
5. As of 2021, Hope Bancorp has over $17 billion in total assets and serves over 1 million customers.
6. In 2021, Hope Bancorp was ranked #1 on Forbes’ list of America’s Best Small-Cap Banks for the third consecutive year.
7. The company has received numerous awards and recognitions, including being named one of the Top 10 Banks by Asian Fortune Magazine and being listed in the 2021 Best Places to Work in Los Angeles by the Los Angeles Business Journal.
8. Hope Bancorp has a strong commitment to diversity and inclusion, with over 70% of its employees being people of color and over 50% being women.
9. In addition to traditional banking services, Hope Bancorp also offers specialized services for small business and commercial real estate lending, as well as SBA and trade finance loans.
10. The company has a strong focus on community engagement and supports various charitable organizations and community initiatives through its Hope for the Future program.
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