UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

October 25, 2021

Date of Report (Date of earliest event reported)

HOPE BANCORP INC
(Exact name of registrant as specified in its charter)		Delaware	000-50245	95-4849715
---	---	---
(State of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

3200 Wilshire Boulevard, Suite 1400

Los Angeles, California 90010

(Address of principal executives offices, including zip code)

(213) 639-1700

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Common Stock	,	par value $0.001 per share	HOPE	NASDAQ Global Select Market
(Title of class)			(Trading Symbol)	(Name of exchange on which registered)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On October 25, 2021, Hope Bancorp, Inc. (“HOPE” or the “Company”) issued a news release concerning its results of operations and financial condition for the third quarter and nine months ended and as of September 30, 2021. A copy of the October 25, 2021 press release is attached hereto as Exhibit 99.1.

Item 8.01 Other Events.

On October 25, 2021, the Company issued a news release announcing that its Board of Directors declared a quarterly cash dividend of $0.14 per common share. The cash dividend is payable on or about November 18, 2021 to all stockholders of record as of the close of business on November 4, 2021. A copy of the October 25, 2021 press release is attached hereto as Exhibit 99.2.

Item 7.01. Regulation FD Disclosure

The Company previously announced that it will host an investor conference call on Tuesday, October 26, 2021 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review financial results for its third quarter and nine months ended September 30, 2021. A presentation to accompany the conference call, which contains certain historical and forward-looking information relating to the Company (the “Presentation Materials”), has been made available at the Investor Relations section of Hope Bancorp’s website at www.ir-hopebancorp.com. A copy of the Presentation Materials is attached hereto as Exhibit 99.3.

The information included in this report pursuant to Item 2.02, Item 8.01 and Item 7.01 of Form 8-K (including Exhibit 99.1, Exhibit 99.2 and Exhibit 99.3) shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed to be incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act.

The following risk factor supplements the “Risk Factors” section in our 2020 Form 10-K.

The COVID-19 pandemic has had a material and adverse impact on our business, financial condition and results of operations, and the further impact will depend on future developments that cannot be predicted, including the scope and duration of the pandemic, impact of the different variants of the virus, the economic implications of the same, and the actions taken by governmental authorities in response to the pandemic.

The novel COVID-19 pandemic has substantially and negatively impacted the United States economy, disrupted global supply chains, considerably lowered equity market valuations, created significant volatility and disruption in the financial markets, and materially increased unemployment levels. In addition, certain industries to which the Company has considerable exposure, including hospitality and retail, are expected to require a longer recovery period from the temporary pandemic-related restrictions on business operations. As a result, the demand for our products and services has been and likely will continue to be significantly impacted, which could materially and adversely affect our financial condition and results of operations. Furthermore, the pandemic could result in the recognition of amplified credit losses in our loan portfolios and increases in our allowance for loan losses, particularly if a rise in COVID-19 cases results in a return to business closures and lockdowns. Similarly, because of changing economic and market conditions, we may be required to recognize impairments on goodwill or the securities we hold. Our business operations may also be further disrupted if significant portions of our workforce are unable to work effectively, including because of challenges arising as a result of circumstances related to working from home, illness, quarantines, government actions, or other restrictions in connection with the pandemic. In response to the pandemic, we have also suspended residential property foreclosure sales and evictions, and previously offered payment deferrals and other expanded assistance for credit card, mortgage and small business lending customers, and future governmental actions may require these and other types of customer-related responses. In addition, we may take capital actions in response to the COVID-19 pandemic. The extent to which the COVID-19 pandemic continues to impact our business, results of operations, and financial condition, as well as our regulatory capital and liquidity ratios, will depend on future developments that cannot be predicted, including the scope and duration of the pandemic, impact of the different variants of the virus, the economic implications of the same and actions taken by governmental authorities and other third parties in response to the pandemic.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description of Exhibit
99.1	News release, dated October 25 , 2021, concerning the results of operations and financial condition for the third quarter ended and as of September 30, 2021.
99.2	News release, dated October 25 , 2021, announcing the declaration of a quarterly cash dividend.
99.3	Presentation Materials, dated October 26 , 2021.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		HOPE BANCORP, INC.
Date: October 25, 2021	By:	/s/ Kevin S. Kim
		Kevin S. Kim
		Chairman, President and Chief Executive Officer

Document

News Release

HOPE BANCORP REPORTS 2021 THIRD QUARTER FINANCIAL RESULTS

LOS ANGELES - October 25, 2021 - Hope Bancorp, Inc. (the “Company”) (NASDAQ: HOPE), the holding company of Bank of Hope (the “Bank”), today reported unaudited financial results for its third quarter and nine months ended September 30, 2021.

For the three months ended September 30, 2021, net income increased 3% to $55.5 million, or $0.45 per diluted common share, from $53.8 million, or $0.43 per diluted common share, in the preceding second quarter and increased 82% from $30.5 million, or $0.25 per diluted common share, in the year-ago third quarter.

“We continued to deliver improved operational performance and profitability in the third quarter of 2021, but more importantly, we took strategic actions to de-risk the loan portfolio which led to significant improvements in asset quality and positioned the Company for a return to organic loan growth in the quarters ahead,” said Kevin S. Kim, Chairman, President and Chief Executive Officer of Hope Bancorp, Inc. “Business development was the strongest it has ever been topping a record $1.0 billion in new loan production and included record high SBA origination volumes of $115.0 million. While SBA PPP loan forgiveness and strategic loan sales of higher-risk credits mitigated loan growth again this quarter, we believe these headwinds are now largely behind us and have renewed our focus on growth and expansion. Deposits at quarter-end totaled a record high $15.1 billion driven primarily by growth in noninterest bearing demand deposits, which led to an eighth consecutive quarter of declining deposit costs. Benefiting from the strategic actions taken during the quarter, we posted meaningful improvements in our credit quality with nonaccrual loans decreasing 51% and criticized assets declining 19% quarter-over-quarter.

“With the significant improvements in asset quality this quarter, together with our track record of robust loan production and positive core deposit growth, we believe we are well positioned to drive even stronger performance in the years ahead,” said Kim.

Q3 2021 Highlights

•Loan originations increased 13% quarter-over-quarter to a record high $1.01 billion from $894.1 million in the second quarter of 2021.

•Loans receivable remained at $13.42 billion, as record originations were offset by loan sales, SBA PPP loan forgiveness, other payoffs and pay downs and decreases in mortgage warehouse line utilizations.

•Excluding SBA PPP loan forgiveness and strategic loan sales and transfers to held-for-sale of potentially problematic loans, loans receivable would have increased 3% quarter-over-quarter or 12% on an annualized basis.

•Noninterest bearing demand deposits increased 7% quarter-over-quarter and accounted for a record 40% of total deposits, contributing to record high deposits of $15.06 billion.

•Cost of interest bearing deposits decreased 6 basis points and total cost of deposits decreased 4 basis points quarter-over-quarter marking the eighth consecutive quarter of declining deposit costs.

•Interest income increased 2% quarter-over-quarter while interest expense declined 8%, resulting in a 3% increase in pre-provision net interest income.

•Net interest margin declined 4 basis points quarter-over-quarter, as the benefit of lower cost of deposits was more than offset by the impact of excess liquidity on the balance sheet.

•The Company recorded a negative provision for credit losses of $10.0 million.

•Net income increased 3% quarter-over-quarter and totaled $55.5 million, or $0.45 per diluted common share.

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•Pre-provision net revenue(1) (“PPNR”) increased 1% quarter-over-quarter and totaled $65.4 million.

•Net charge offs of $42.7 million reflects strategic actions to eliminate potentially problematic assets and resulted in significantly improved asset quality metrics.

•Nonaccrual loans decreased 51% quarter-over-quarter and total criticized loans decreased 19%.

•Return on average assets remained unchanged at 1.25%, while return on average equity increased to 10.61% from 10.41% in the second quarter of 2021.

•Announced new $50 million share buyback program on July 26, 2021 and repurchased 3,487,426 shares as of September 30, 2021, totaling $47.2 million.

(1) PPNR is a non-GAAP financial measure, a reconciliation of which is provided in the accompanying financial information on Table Page 10.

Financial Highlights

(dollars in thousands, except per share data) (unaudited)	At or for the Three Months Ended
	9/30/2021			6/30/2021			9/30/2020
Net income	$	55,499		$	53,763		$	30,490
Diluted earnings per share	$	0.45		$	0.43		$	0.25
Net interest income before provision (credit) for credit losses	$	130,296		$	126,577		$	117,637
Net interest margin		3.07	%		3.11	%		2.91	%
Noninterest income	$	10,617		$	11,076		$	17,513
Noninterest expense	$	75,502		$	73,123		$	73,406
Net loans receivable	$	13,281,917		$	13,234,849		$	12,940,376
Deposits	$	15,062,527		$	14,726,230		$	14,008,356
Total cost of deposits		0.26	%		0.30	%		0.64	%
Nonaccrual loans(1)	$	54,380		$	111,008		$	69,205
Nonperforming loans to loans receivable(1)		0.73	%		1.24	%		0.81	%
ACL to loans receivable		1.02	%		1.41	%		1.37	%
ACL to nonaccrual loans(1)		251.52	%		170.67	%		259.88	%
ACL to nonperforming assets(1)		120.33	%		103.11	%		144.36	%
Provision (credit) for credit losses	$	(10,000)		$	(7,000)		$	22,000
Net charge offs	$	42,678		$	11,491		$	3,922
Return on average assets (“ROA”)		1.25	%		1.25	%		0.72	%
Return on average equity (“ROE”)		10.61	%		10.41	%		5.98	%
Return on average tangible common equity (“ROTCE”)(2)		13.71	%		13.50	%		7.80	%
Noninterest expense / average assets		1.70	%		1.70	%		1.73	%
Efficiency ratio		53.58	%		53.12	%		54.31	%

(1) Excludes delinquent SBA loans that are guaranteed and currently in liquidation.

(2) Return on average tangible common equity is a non-GAAP financial measure. A reconciliation of the Company’s return on average tangible common equity is provided in the accompanying financial information on Table Page 10.

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Operating Results for the 2021 Third Quarter

Net interest income before the provision (credit) for credit losses for the 2021 third quarter increased 3% to $130.3 million from $126.6 million in the 2021 second quarter and increased 11% from $117.6 million in the 2020 third quarter. The Company attributed the increase to higher interest income on investment securities and loans, as well as lower interest expense on deposits.

The net interest margin for the 2021 third quarter decreased 4 basis points to 3.07% from 3.11% in the preceding 2021 second quarter. The Company noted that excess liquidity on the balance sheet adversely impacted net interest margin by 8 basis points, which more than offset the benefits of lower deposit costs. The net interest margin in the prior-year third quarter was 2.91%.

The weighted average yield on loans for the 2021 third quarter was relatively stable quarter-over-quarter, decreasing 1 basis point to 3.97% from 3.98% in the 2021 second quarter, but declined by 23 basis points from 4.20% in the year-ago third quarter.

The weighted average cost of deposits for the 2021 third quarter decreased for the eighth consecutive quarter to 0.26%, representing a 4 basis point decrease from 0.30% for the 2021 second quarter and a 38 basis point decrease from 0.64% for the 2020 third quarter. The Company attributed the improvements in the weighted average cost of deposits to a continuing shift in its deposit mix to lower-cost core deposits and the ongoing downward repricing of interest bearing deposits. The cost of interest bearing deposits was 0.42%, 0.48% and 0.92% for the quarters ended September 30, 2021, June 30, 2021 and September 30, 2020, respectively.

Noninterest income for the 2021 third quarter decreased to $10.6 million from $11.1 million for the 2021 second quarter. During the 2021 third quarter, the Company sold $40.2 million in retail mortgage loans and $31.3 million of the guaranteed portion of SBA 7(a) loans, compared with $42.6 million and $30.0 million, respectively, in the preceding second quarter. Noninterest income in the year-ago third quarter totaled $17.5 million, during which quarter the Company recognized $7.5 million in net gains on sales of securities available for sale.

Noninterest expense for the 2021 third quarter increased to $75.5 million from $73.1 million in the preceding second quarter and $73.4 million in the year-ago third quarter.

Salaries and employee benefits expense for the 2021 third quarter increased to $47.0 million from $42.3 million in the preceding second quarter, reflecting a number of factors. The Company increased its bonus reserve for the year to reflect the higher-than-expected financial performance. In addition, employee base salaries increased meaningfully quarter-over-quarter, predominantly reflecting new frontline hires, including a new multi-family lending team recruited from a large money center bank, as well as wage increases necessary to retain existing employees. The Company’s self-funded group insurance expense for the 2021 third quarter was also significantly higher quarter-over-quarter.

In addition, credit related expenses for the 2021 third quarter increased by $1.2 million quarter-over-quarter, but this fluctuation was within normal levels. Altogether, these increases in noninterest expense were partially offset by a $2.0 million quarter-over-quarter decrease in professional fees for the three months ended September 30, 2021, reflecting a favorable outcome and closure of a litigation case.

The Company’s efficiency ratio for the 2021 third quarter was fairly stable at 53.58%, compared with 53.12% for the preceding second quarter and 54.31% for the year-ago third quarter. Noninterest expense as a percentage of average assets remained at 1.70% for the 2021 third quarter but improved from 1.73% in the year-ago third quarter.

The effective tax rate for the 2021 third quarter increased to 26.4% from 24.8% in the preceding quarter. The quarter-over-quarter increase reflects an increase in the Company’s projected annual pretax income compared with previous estimates, combined with the benefit of affordable housing partnership investment tax credits having a smaller effect on the larger annual pretax income. In the year-ago quarter, the effective tax rate was 23.3%.

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Balance Sheet Summary

New loan originations funded during the 2021 third quarter increased to a record high $1.01 billion from $894.1 million in the preceding second quarter and $782.4 million in the 2020 third quarter. Following are the components of new loan production for the quarters ended September 30, 2021, June 30, 2021 and September 30, 2020:

(dollars in thousands) (unaudited)	For the Three Months Ended
	9/30/2021		6/30/2021		9/30/2020
Commercial real estate	$	488,969	$	454,857	$	215,099
Commercial		329,702		288,726		429,136
SBA		115,023		77,652		33,262
SBA PPP		—		19,816		26
Residential mortgage		75,007		52,766		102,312
Consumer		500		275		2,607
Total new loan originations	$	1,009,201	$	894,092	$	782,442

During the 2021 third quarter, the Company also acquired $113.9 million of 30-year adjustable-rate residential mortgage loans. New loan production and loan purchases during the 2021 third quarter were offset by a number of factors. In addition to the sale of $40.2 million in residential mortgage loans and $31.3 million of SBA 7(a) loans during the 2021 third quarter, the Company completed loan sales of $29.6 million and transferred $131.2 million to loans held-for-sale, de-risking the loan portfolio of potentially problematic assets. Altogether with aggregate payoffs and pay downs, which included SBA PPP loan forgiveness of $235.6 million and a $61.4 million quarter-over-quarter decrease in warehouse line utilizations, loans receivable at September 30, 2021 was flat at $13.42 billion versus $13.42 billion at June 30, 2021. Excluding SBA PPP loan forgiveness and loan sales and transfers of potentially problematic assets to held-for-sale, loans receivable at September 30, 2021 would have increased by approximately $401.7 million, or 3.0% quarter-over-quarter. Loans receivable a year ago at September 30, 2020 totaled $13.12 billion.

During the 2021 third quarter, the Company deployed a portion of its excess cash balances and purchased $571.3 million of investment securities. Securities available for sale totaled $2.67 billion at September 30, 2021, up 17% from $2.27 billion at June 30, 2021.

Total deposits at September 30, 2021 increased 2% to $15.06 billion from $14.73 billion at June 30, 2021 and increased 8% from $14.01 billion at September 30, 2020. Quarter-over-quarter, noninterest bearing demand deposits as of September 30, 2021 increased 7% and money market and other interest bearing demand deposit balances increased 1%, while time deposits decreased 4%. On a year-over-year basis, noninterest bearing demand deposits as of September 30, 2021 increased 34% and money market and NOW account balances increased 23%, while time deposits decreased 35%.

Following is the deposit composition as of September 30, 2021, June 30, 2021 and September 30, 2020:

(dollars in thousands) (unaudited)	9/30/2021		6/30/2021		% change		9/30/2020		% change
Noninterest bearing demand deposits	$	6,007,586	$	5,638,115	7	%	$	4,488,529	34	%
Money market and other	5,871,567		5,786,697		1	%	4,763,893		23	%
Saving deposits	314,603		308,651		2	%	308,943		2	%
Time deposits	2,868,771		2,992,767		(4)	%	4,446,991		(35)	%
Total deposit balances	$	15,062,527	$	14,726,230	2	%	$	14,008,356	8	%

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Following is the deposit composition as a percentage of total deposits and a breakdown of cost of deposits as of and for the quarters ended September 30, 2021, June 30, 2021 and September 30, 2020:

	Deposit Breakdown						Cost of Deposits
(unaudited)	9/30/2021		6/30/2021		9/30/2020		Q3 2021		Q2 2021		Q3 2020
Noninterest bearing demand deposits	39.9	%	38.3	%	32.1	%	—	%	—	%	—	%
Money market and other	39.0	%	39.2	%	34.0	%	0.40	%	0.43	%	0.53	%
Saving deposits	2.1	%	2.1	%	2.2	%	1.18	%	1.15	%	1.19	%
Time deposits	19.0	%	20.4	%	31.7	%	0.38	%	0.49	%	1.30	%
Total deposit balances	100.0	%	100.0	%	100.0	%	0.26	%	0.30	%	0.64	%

Allowance for Credit Losses

In the 2021 third quarter, the Company recorded a negative provision for credit losses of $10.0 million, compared with a negative provision for credit losses of $7.0 million in the preceding second quarter. In the year-ago third quarter, the Company recorded a provision for credit losses of $22.0 million. The allowance release in the 2021 third quarter reflects improvements in macroeconomic forecasts and the Company’s asset quality.

Following is the allowance for credit losses and allowance coverage ratios as of September 30, 2021, June 30, 2021 and September 30, 2020:

(dollars in thousands) (unaudited)	9/30/2021			6/30/2021			9/30/2020
Allowance for credit losses	$	136,774		$	189,452		$	179,849
Allowance for credit loss/loans receivable		1.02	%		1.41	%		1.37	%
Allowance for credit losses/nonperforming loans		138.92	%		113.36	%		169.40	%

Credit Quality

Following are the components of nonperforming assets as of September 30, 2021, June 30, 2021 and September 30, 2020:

(dollars in thousands) (unaudited)	9/30/2021		6/30/2021		9/30/2020
Loans on nonaccrual status (1)	$	54,380	$	111,008	$	69,205
Delinquent loans 90 days or more on accrual status		4,567		4,759		1,537
Accruing troubled debt restructured loans		39,509		51,360		35,429
Total nonperforming loans		98,456		167,127		106,171
Other real estate owned		15,213		16,619		18,410
Total nonperforming assets	$	113,669	$	183,746	$	124,581

(1) Excludes delinquent SBA loans that are guaranteed and currently in liquidation totaling $20.6 million, $23.6 million and $26.2 million, at September 30, 2021, June 30, 2021 and September 30, 2020, respectively.

The significant reductions in nonperforming loans quarter-over-quarter were due to a number of factors, including strategic loan sales and transfers to held-for sale of potentially problematic loans. The loans transferred to held-for-sale are expected to be sold during the fourth quarter of 2021. In addition, one large relationship that was moved to nonaccrual status in the first quarter of 2021 was charged off, and another large relationship on nonaccrual status was paid off in full.

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Following are net charge offs and net charge offs to average loans receivable on an annualized basis for the three months ended September 30, 2021, June 30, 2021 and September 30, 2020:

(dollars in thousands) (unaudited)	For the Three Months Ended
	9/30/2021			6/30/2021			9/30/2020
Net charge offs	$	42,678		$	11,491		$	3,922
Net charge offs/average loans receivable (annualized)		1.28	%		0.35	%		0.12	%

Net charge offs for the 2021 third quarter increased significantly from prior periods. This reflects decisive actions by the Company to eliminate potentially problematic assets from its loan portfolio and included charge offs related to the one large relationship that was moved to nonaccrual status in the first quarter of 2021, along with loan sales and transfers to held-for-sale.

Following are the components of criticized loan balances as of September 30, 2021, June 30, 2021 and September 30, 2020:

(dollars in thousands) (unaudited)	9/30/2021		6/30/2021		9/30/2020
Special mention	$	306,766	$	294,559	$	153,388
Substandard		243,684		380,955		311,902
Doubtful/loss		—		—		6,640
Total criticized loans	$	550,450	$	675,514	$	471,930

The significant reductions in total criticized loans quarter-over-quarter was due primarily to the strategic loan sales and transfers to held-for-sale, along with charge offs. As previously noted, loan sales totaled $29.6 million and transfers to held-for-sale amounted to $131.2 million, most of which were classified as substandard.

Capital

At September 30, 2021, the Company and the Bank continued to exceed all regulatory capital requirements generally required to meet the definition of a “well-capitalized” financial institution. Following are capital ratios for the Company as of September 30, 2021, June 30, 2021 and September 30, 2020:

Hope Bancorp, Inc. (unaudited)	9/30/2021	6/30/2021	9/30/2020	Minimum Guideline for “Well-Capitalized” Bank
Common Equity Tier 1 Capital	11.01%	11.44%	11.36%	6.50%
Tier 1 Leverage Ratio	9.98%	10.43%	10.02%	5.00%
Tier 1 Risk-Based Ratio	11.70%	12.14%	12.09%	8.00%
Total Risk-Based Ratio	12.42%	13.16%	13.19%	10.00%

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Following are tangible common equity (“TCE”) per share and TCE as a percentage of tangible assets as of September 30, 2021, June 30, 2021 and September 30, 2020:

(unaudited)	9/30/2021	6/30/2021	9/30/2020
Tangible common equity per share (1)	$13.33	$13.10	$12.70
Tangible common equity to tangible assets (2)	9.24%	9.53%	9.63%

(1) Tangible common equity represents common equity less goodwill and net other intangible assets. Tangible common equity per share represents tangible common equity divided by the number of shares issued and outstanding. Both tangible common equity and tangible common equity per share are non-GAAP financial measures. A reconciliation of the Company’s total stockholders’ equity to tangible common equity is provided in the accompanying financial information on Table Page 10.

(2) Tangible assets represent total assets less goodwill and net other intangible assets. Tangible common equity to tangible assets is the ratio of tangible common equity over tangible assets. Tangible common equity to tangible assets is a non-GAAP financial measure. A reconciliation of the Company’s total assets to tangible assets is provided in the accompanying financial information on Table Page 10.

Investor Conference Call

The Company previously announced that it will host an investor conference call on Tuesday, October 26, 2021 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review financial results for its third quarter ended September 30, 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 at 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 November 2, 2021, replay access code 10161142.

About Hope Bancorp, Inc.

Hope Bancorp, Inc. is the holding company of Bank of Hope, the first and only super regional Korean-American bank in the United States with $17.80 billion in total assets as of September 30, 2021. Headquartered in Los Angeles and serving a multi-ethnic population of customers across the nation, Bank of Hope operates 53 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia and Alabama. The Bank also operates SBA loan production offices in Seattle, Denver, Dallas, Atlanta, Portland, Oregon, New York City, Northern California and Houston; commercial loan production offices in Northern California and Seattle; residential mortgage loan production offices in Southern California; and a representative office in Seoul, Korea. Bank of Hope specializes in core business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and commercial lending, SBA lending and international trade financing. Bank of Hope is a California-chartered bank, and its deposits are insured by the FDIC to the extent provided by law. Bank of Hope is an Equal Opportunity Lender. For additional information, please go to bankofhope.com. By including the foregoing website address link, the Company does not intend to and shall not be deemed to incorporate by reference any material contained or accessible therein.

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8-8-8 NASDAQ: HOPE

Forward-Looking Statements

Some statements in this press release may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, expectations regarding the business environment in which we operate, projections of future performance, perceived opportunities in the market and statements regarding our business strategies, objectives and vision. Forward-looking statements include, but are not limited to, statements preceded by, followed by or that include the words “will,” “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates” or similar expressions. With respect to any such forward-looking statements, the Company claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. The Company’s actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. The risks and uncertainties include, but are not limited to: possible deterioration in economic conditions in our areas of operation; interest rate risk associated with volatile interest rates and related asset-liability matching risk; liquidity risks; risk of significant non-earning assets, and net credit losses that could occur, particularly in times of weak economic conditions or times of rising interest rates; the failure of or changes to assumptions and estimates underlying the Company’s allowances for credit losses, regulatory risks associated with current and future regulations; and the COVID-19 pandemic and its impact on our financial position, results of operations, liquidity, and capitalization. For additional information concerning these and other risk factors, see the Company’s most recent Annual Report on Form 10-K. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.

Contacts:

Alex Ko<br><br>Senior EVP & Chief Financial Officer<br><br>213-427-6560<br><br>alex.ko@bankofhope.com	Angie Yang<br><br>SVP, Director of Investor Relations &<br><br>Corporate Communications<br><br>213-251-2219<br><br>angie.yang@bankofhope.com

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(tables follow)

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands, except share data)

Assets:	9/30/2021		6/30/2021		% change		9/30/2020		% change
Cash and due from banks	$	627,352	$	836,957	(25)	%	$	629,133	—	%
Securities available for sale, at fair value	2,669,489		2,274,170		17	%	2,060,991		30	%
Federal Home Loan Bank (“FHLB”) stock and other investments	88,102		94,550		(7)	%	97,305		(9)	%
Loans held for sale, at the lower of cost or fair value	179,117		54,245		230	%	9,170		1,853	%
Loans receivable	13,418,691		13,424,301		—	%	13,120,225		2	%
Allowance for credit losses	(136,774)		(189,452)		(28)	%	(179,849)		(24)	%
Net loans receivable	13,281,917		13,234,849		—	%	12,940,376		3	%
Accrued interest receivable	47,102		51,886		(9)	%	57,989		(19)	%
Premises and equipment, net	45,307		45,302		—	%	49,552		(9)	%
Bank owned life insurance	76,756		76,428		—	%	77,388		(1)	%
Goodwill	464,450		464,450		—	%	464,450		—	%
Servicing assets	10,787		11,566		(7)	%	13,718		(21)	%
Other intangible assets, net	8,180		8,689		(6)	%	10,239		(20)	%
Other assets	300,467		316,535		(5)	%	323,456		(7)	%
Total assets	$	17,799,026	$	17,469,627	2	%	$	16,733,767	6	%
Liabilities:
Deposits	$	15,062,527	$	14,726,230	2	%	$	14,008,356	8	%
FHLB advances	200,000		200,000		—	%	200,000		—	%
Convertible notes, net	215,974		215,739		—	%	203,270		6	%
Subordinated debentures	105,057		104,762		—	%	103,889		1	%
Accrued interest payable	5,367		4,946		9	%	21,991		(76)	%
Other liabilities	135,703		125,080		8	%	155,700		(13)	%
Total liabilities	$	15,724,628	$	15,376,757	2	%	$	14,693,206	7	%
Stockholders’ Equity:
Common stock, $0.001 par value	$	136	$	136	—	%	$	136	—	%
Capital surplus	1,420,151		1,418,135		—	%	1,432,773		(1)	%
Retained earnings	897,766		859,548		4	%	774,970		16	%
Treasury stock, at cost	(247,198)		(200,000)		(24)	%	(200,000)		24	%
Accumulated other comprehensive gain, net	3,543		15,051		(76)	%	32,682		(89)	%
Total stockholders’ equity	2,074,398		2,092,870		(1)	%	2,040,561		2	%
Total liabilities and stockholders’ equity	$	17,799,026	$	17,469,627	2	%	$	16,733,767	6	%
Common stock shares - authorized	150,000,000		150,000,000				150,000,000
Common stock shares - outstanding	120,198,061		123,673,832				123,260,760
Treasury stock shares	16,149,007		12,661,581				12,661,581

Table Page 1

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands, except share and per share data)

	Three Months Ended										Nine Months Ended
	9/30/2021		6/30/2021		% change		9/30/2020		% change		9/30/2021		9/30/2020		% change
Interest and fees on loans	$	132,794	$	131,823	1	%	$	134,430	(1)	%	$	394,353	$	422,850	(7)	%
Interest on securities	9,207		7,713		19	%	9,848		(7)	%	24,835		30,348		(18)	%
Interest on federal funds sold and other investments	865		668		29	%	942		(8)	%	2,175		3,951		(45)	%
Total interest income	142,866		140,204		2	%	145,220		(2)	%	421,363		457,149		(8)	%
Interest on deposits	9,640		10,696		(10)	%	22,871		(58)	%	33,106		93,435		(65)	%
Interest on other borrowings and convertible notes	2,930		2,931		—	%	4,712		(38)	%	8,805		16,972		(48)	%
Total interest expense	12,570		13,627		(8)	%	27,583		(54)	%	41,911		110,407		(62)	%
Net interest income before provision (credit) for credit losses	130,296		126,577		3	%	117,637		11	%	379,452		346,742		9	%
Provision (credit) for credit losses	(10,000)		(7,000)		43	%	22,000		N/A		(13,700)		67,500		N/A
Net interest income after provision (credit) for credit losses	140,296		133,577		5	%	95,637		47	%	393,152		279,242		41	%
Service fees on deposit accounts	1,814		1,777		2	%	2,736		(34)	%	5,381		9,452		(43)	%
International service fees	889		795		12	%	987		(10)	%	2,525		2,443		3	%
Loan servicing fees, net	642		934		(31)	%	772		(17)	%	2,620		2,243		17	%
Wire transfer fees	836		923		(9)	%	892		(6)	%	2,603		2,710		(4)	%
Net gains on sales of SBA loans	2,459		2,375		4	%	—		100	%	4,834		—		100	%
Net gains on sales of residential mortgage loans	781		1,028		(24)	%	2,853		(73)	%	3,905		6,386		(39)	%
Net gains on sales of securities available for sale	—		—		—	%	7,531		(100)	%	—		7,531		(100)	%
Other income and fees	3,196		3,244		(1)	%	1,742		83	%	8,629		11,252		(23)	%
Total noninterest income	10,617		11,076		(4)	%	17,513		(39)	%	30,497		42,017		(27)	%
Salaries and employee benefits	47,018		42,309		11	%	40,659		16	%	130,543		122,011		7	%
Occupancy	7,473		7,067		6	%	7,264		3	%	21,507		21,717		(1)	%
Furniture and equipment	4,429		4,822		(8)	%	4,513		(2)	%	13,437		13,426		—	%
Advertising and marketing	2,656		2,097		27	%	1,601		66	%	6,378		4,589		39	%
Data processing and communications	2,394		2,411		(1)	%	2,204		9	%	7,542		7,109		6	%
Professional fees	2,431		4,395		(45)	%	1,513		61	%	9,729		6,323		54	%
FDIC assessment	1,204		1,284		(6)	%	1,167		3	%	3,743		4,378		(15)	%
Credit related expenses	1,266		43		2,844	%	1,793		(29)	%	3,527		4,816		(27)	%
OREO expense, net	248		298		(17)	%	1,770		(86)	%	827		3,951		(79)	%
Software impairment	—		2,146		(100)	%	—		—	%	2,146		—		100	%
FHLB advance prepayment fee	—		—		—	%	3,584		(100)	%	—		3,584		(100)	%
Other	6,383		6,251		2	%	7,338		(13)	%	19,677		20,672		(5)	%
Total noninterest expense	75,502		73,123		3	%	73,406		3	%	219,056		212,576		3	%
Income before income taxes	75,411		71,530		5	%	39,744		90	%	204,593		108,683		88	%
Income tax provision	19,912		17,767		12	%	9,254		115	%	51,644		25,487		103	%
Net income	$	55,499	$	53,763	3	%	$	30,490	82	%	$	152,949	$	83,196	84	%
Earnings Per Common Share - Basic	$	0.45	$	0.44			$	0.25			$	1.24	$	0.67
Earnings Per Common Share - Diluted	$	0.45	$	0.43			$	0.25			$	1.23	$	0.67
Weighted Average Shares Outstanding - Basic	122,244,948		123,592,695				123,251,336				123,050,174		123,581,055
Weighted Average Shares Outstanding - Diluted	122,908,536		124,323,888				123,536,765				123,848,512		123,895,084

Table Page 2

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands, except share and per share data)

	For the Three Months Ended <br>(Annualized)									For the Nine Months Ended<br>(Annualized)
Profitability measures:	9/30/2021			6/30/2021			9/30/2020			9/30/2021			9/30/2020
ROA	1.25		%	1.25		%	0.72		%	1.18		%	0.68		%
ROE	10.61		%	10.41		%	5.98		%	9.86		%	5.47		%
ROTCE (1)	13.71		%	13.50		%	7.80		%	12.78		%	7.14		%
Net interest margin	3.07		%	3.11		%	2.91		%	3.08		%	2.99		%
Efficiency ratio	53.58		%	53.12		%	54.31		%	53.43		%	54.68		%
Noninterest expense / average assets	1.70		%	1.70		%	1.73		%	1.68		%	1.73		%
(1) Average tangible equity is calculated by subtracting average goodwill and average core deposit intangible assets from average stockholders’ equity. This is a non-GAAP measure that we believe provides investors with information that is useful in understanding our financial performance and position.
	Three Months Ended									Nine Months Ended
Pre-tax acquisition accounting adjustments:	9/30/2021			6/30/2021			9/30/2020			9/30/2021			9/30/2020
Accretion on acquired non-impaired loans	$	368		$	366		$	747		$	1,439		$	2,464
Accretion on acquired credit deteriorated/purchased credit impaired loans	2,093			2,188			4,584			6,536			17,079
Amortization of premium on low income housing tax credits	(73)			(74)			(71)			(220)			(212)
Accretion of discount on acquired subordinated debt	(295)			(293)			(287)			(879)			(854)
Amortization of core deposit intangibles	(509)			(510)			(531)			(1,528)			(1,594)
Total acquisition accounting adjustments	$	1,584		$	1,677		$	4,442		$	5,348		$	16,883

Table Page 3

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands)

	Three Months Ended
	9/30/2021						6/30/2021						9/30/2020
			Interest		Annualized				Interest		Annualized				Interest		Annualized
	Average		Income/		Average		Average		Income/		Average		Average		Income/		Average
	Balance		Expense		Yield/Cost		Balance		Expense		Yield/Cost		Balance		Expense		Yield/Cost
INTEREST EARNING ASSETS:
Loans, including loans held for sale	$	13,286,382	$	132,794	3.97	%	$	13,293,591	$	131,823	3.98	%	$	12,728,558	$	134,430	4.20	%
Securities available for sale	2,370,672		9,207		1.54	%	2,253,135		7,713		1.37	%	2,010,907		9,848		1.95	%
FHLB stock and other investments	1,197,537		865		0.29	%	759,182		668		0.35	%	1,342,641		942		0.28	%
Total interest earning assets	$	16,854,591	$	142,866	3.36	%	$	16,305,908	$	140,204	3.45	%	$	16,082,106	$	145,220	3.59	%
INTEREST BEARING LIABILITIES:
Deposits:
Demand, interest bearing	$	5,919,225	$	5,946	0.40	%	$	5,484,047	$	5,909	0.43	%	$	4,895,101	$	6,546	0.53	%
Savings	310,525		920		1.18	%	308,530		887		1.15	%	302,882		907		1.19	%
Time deposits	2,914,977		2,774		0.38	%	3,222,457		3,900		0.49	%	4,703,640		15,418		1.30	%
Total interest bearing deposits	9,144,727		9,640		0.42	%	9,015,034		10,696		0.48	%	9,901,623		22,871		0.92	%
FHLB advances	200,000		640		1.27	%	202,198		631		1.25	%	353,587		1,323		1.49	%
Convertible notes, net	215,840		1,321		2.39	%	215,599		1,323		2.43	%	202,470		2,370		4.58	%
Subordinated debentures	100,993		969		3.75	%	100,701		977		3.84	%	99,819		1,019		3.99	%
Total interest bearing liabilities	$	9,661,560	$	12,570	0.52	%	$	9,533,532	$	13,627	0.57	%	$	10,557,499	$	27,583	1.04	%
Noninterest bearing demand deposits	5,848,983						5,445,457						4,239,108
Total funding liabilities/cost of funds	$	15,510,543			0.32	%	$	14,978,989			0.36	%	$	14,796,607			0.74	%
Net interest income/net interest spread			$	130,296	2.84	%			$	126,577	2.88	%			$	117,637	2.55	%
Net interest margin					3.07	%					3.11	%					2.91	%
Cost of deposits:
Noninterest bearing demand deposits	$	5,848,983	$	—	—	%	$	5,445,457	$	—	—	%	$	4,239,108	$	—	—	%
Interest bearing deposits	9,144,727		9,640		0.42	%	9,015,034		10,696		0.48	%	9,901,623		22,871		0.92	%
Total deposits	$	14,993,710	$	9,640	0.26	%	$	14,460,491	$	10,696	0.30	%	$	14,140,731	$	22,871	0.64	%

Table Page 4

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands)

	Nine Months Ended
	9/30/2021						9/30/2020
			Interest		Annualized				Interest		Annualized
	Average		Income/		Average		Average		Income/		Average
	Balance		Expense		Yield/Cost		Balance		Expense		Yield/Cost
INTEREST EARNING ASSETS:
Loans, including loans held for sale	$	13,308,526	$	394,353	3.96	%	$	12,581,703	$	422,850	4.49	%
Securities available for sale	2,297,450		24,835		1.45	%	1,825,046		30,348		2.22	%
FHLB stock and other investments	867,745		2,175		0.34	%	1,060,699		3,951		0.50	%
Total interest earning assets	$	16,473,721	$	421,363	3.42	%	$	15,467,448	$	457,149	3.95	%
INTEREST BEARING LIABILITIES:
Deposits:
Demand, interest bearing	$	5,555,711	$	17,345	0.42	%	$	4,668,594	$	28,988	0.83	%
Savings	306,780		2,678		1.17	%	287,060		2,578		1.20	%
Time deposits	3,298,393		13,083		0.53	%	4,852,286		61,869		1.70	%
Total interest bearing deposits	9,160,884		33,106		0.48	%	9,807,940		93,435		1.27	%
FHLB advances	205,971		1,913		1.24	%	513,376		6,208		1.62	%
Convertible notes, net	215,483		3,967		2.43	%	201,204		7,074		4.62	%
Subordinated debentures	100,697		2,925		3.83	%	99,536		3,690		4.87	%
Total interest bearing liabilities	$	9,683,035	$	41,911	0.58	%	$	10,622,056	$	110,407	1.39	%
Noninterest bearing demand deposits	5,451,908						3,573,448
Total funding liabilities/cost of funds	$	15,134,943			0.37	%	$	14,195,504			1.04	%
Net interest income/net interest spread			$	379,452	2.84	%			$	346,742	2.56	%
Net interest margin					3.08	%					2.99	%
Cost of deposits:
Noninterest bearing demand deposits	$	5,451,908	$	—	—	%	$	3,573,448	$	—	—	%
Interest bearing deposits	9,160,884		33,106		0.48	%	9,807,940		93,435		1.27	%
Total deposits	$	14,612,792	$	33,106	0.30	%	$	13,381,388	$	93,435	0.93	%

Table Page 5

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands)

	Three Months Ended													Nine Months Ended
AVERAGE BALANCES:	9/30/2021			6/30/2021			% change		9/30/2020			% change		9/30/2021			9/30/2020			% change
Loans receivable, including loans held for sale	$	13,286,382		$	13,293,591		—	%	$	12,728,558		4	%	$	13,308,526		$	12,581,703		6	%
Investments	3,568,209			3,012,317			18	%	3,353,548			6	%	3,165,195			2,885,745			10	%
Interest earning assets	16,854,591			16,305,908			3	%	16,082,106			5	%	16,473,721			15,467,448			7	%
Total assets	17,745,066			17,164,893			3	%	17,020,795			4	%	17,344,095			16,411,150			6	%
Interest bearing deposits	9,144,727			9,015,034			1	%	9,901,623			(8)	%	9,160,884			9,807,940			(7)	%
Interest bearing liabilities	9,661,560			9,533,532			1	%	10,557,499			(8)	%	9,683,035			10,622,056			(9)	%
Noninterest bearing demand deposits	5,848,983			5,445,457			7	%	4,239,108			38	%	5,451,908			3,573,448			53	%
Stockholders’ equity	2,092,018			2,066,016			1	%	2,039,555			3	%	2,068,676			2,028,074			2	%
Net interest earning assets	7,193,031			6,772,376			6	%	5,524,607			30	%	6,790,686			4,845,392			40	%
LOAN PORTFOLIO COMPOSITION:	9/30/2021			6/30/2021			% change		12/31/2020			% change		9/30/2020			% change
Commercial loans	$	3,857,879		$	4,001,423		(4)	%	$	4,157,787		(7)	%	$	3,700,020		4		%
Real estate loans	8,908,657			8,832,276			1	%	8,772,134			2	%	8,713,536			2		%
Consumer and other loans	652,155			590,602			10	%	633,292			3	%	706,669			(8)		%
Loans, net of deferred loan fees and costs	13,418,691			13,424,301			—	%	13,563,213			(1)	%	13,120,225			2		%
Allowance for credit losses	(136,774)			(189,452)			(28)	%	(206,741)			(34)	%	(179,849)			(24)		%
Loan receivable, net	$	13,281,917		$	13,234,849		—	%	$	13,356,472		(1)	%	$	12,940,376		3		%
REAL ESTATE LOANS BY PROPERTY TYPE:	9/30/2021			6/30/2021			% change		12/31/2020			% change		9/30/2020			% change
Retail buildings	$	2,466,881		$	2,361,891		4	%	$	2,293,396		8	%	$	2,311,516		7		%
Hotels/motels	1,385,003			1,439,770			(4)	%	1,634,287			(15)	%	1,675,960			(17)		%
Gas stations/car washes	999,069			954,394			5	%	892,110			12	%	824,378			21		%
Mixed-use facilities	819,516			798,373			3	%	750,867			9	%	754,096			9		%
Warehouses	1,160,863			1,149,393			1	%	1,091,389			6	%	1,022,657			14		%
Multifamily	691,262			575,943			20	%	518,498			33	%	518,295			33		%
Other	1,386,063			1,552,512			(11)	%	1,591,587			(13)	%	1,606,634			(14)		%
Total	$	8,908,657		$	8,832,276		1	%	$	8,772,134		2	%	$	8,713,536		2		%
DEPOSIT COMPOSITION	9/30/2021			6/30/2021			% change		12/31/2020			% change		9/30/2020			% change
Noninterest bearing demand deposits	$	6,007,586		$	5,638,115		7	%	$	4,814,254		25	%	$	4,488,529		34		%
Money market and other	5,871,567			5,786,697			1	%	5,232,413			12	%	4,763,893			23		%
Saving deposits	314,603			308,651			2	%	300,770			5	%	308,943			2		%
Time deposits	2,868,771			2,992,767			(4)	%	3,986,475			(28)	%	4,446,991			(35)		%
Total deposit balances	$	15,062,527		$	14,726,230		2	%	$	14,333,912		5	%	$	14,008,356		8		%
DEPOSIT COMPOSITION (%)	9/30/2021			6/30/2021					12/31/2020					9/30/2020
Noninterest bearing demand deposits	39.9		%	38.3		%			33.6		%			32.1		%
Money market and other	39.0		%	39.2		%			36.5		%			34.0		%
Saving deposits	2.1		%	2.1		%			2.1		%			2.2		%
Time deposits	19.0		%	20.4		%			27.8		%			31.7		%
Total deposit balances	100.0		%	100.0		%			100.0		%			100.0		%

Table Page 6

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands, except share and per share data)

CAPITAL RATIOS:	9/30/2021			6/30/2021			9/30/2020
Total stockholders’ equity	$	2,074,398		$	2,092,870		$	2,040,561
Common equity tier 1 ratio	11.01		%	11.44		%	11.36		%
Tier 1 risk-based capital ratio	11.70		%	12.14		%	12.09		%
Total risk-based capital ratio	12.42		%	13.16		%	13.19		%
Tier 1 leverage ratio	9.98		%	10.43		%	10.02		%
Total risk weighted assets	$	14,737,809		$	14,354,682		$	13,691,823
Book value per common share	$	17.26		$	16.92		$	16.55
Tangible common equity to tangible assets 1	9.24		%	9.53		%	9.63		%
Tangible common equity per share 1	$	13.33		$	13.10		$	12.70
1 Tangible common equity to tangible assets is a non-GAAP financial measure that represents common equity less goodwill and core deposit intangible assets, net divided by total assets less goodwill and core deposit intangible assets, net. Management reviews tangible common equity to tangible assets in evaluating the Company’s capital levels and has included this ratio in response to market participant interest in tangible common equity as a measure of capital.
	Three Months Ended															Nine Months Ended
ALLOWANCE FOR CREDIT LOSSES CHANGES:	9/30/2021			6/30/2021			3/31/2021			12/31/2020			9/30/2020			9/30/2021			9/30/2020
Balance at beginning of period	$	189,452		$	207,943		$	206,741		$	179,849		$	161,771		$	206,741		$	94,144
CECL day 1 adoption impact	—			—			—			—			—			—			26,200
Provision (credit) for credit losses	(10,000)			(7,000)			3,300			27,500			22,000			(13,700)			67,500
Recoveries	1,906			1,301			1,423			2,207			2,428			4,630			5,216
Charge offs	(44,584)			(12,792)			(3,521)			(2,815)			(6,350)			(60,897)			(13,211)
Balance at end of period	$	136,774		$	189,452		$	207,943		$	206,741		$	179,849		$	136,774		$	179,849
Net charge offs/average loans receivable (annualized)	1.28		%	0.35		%	0.06		%	0.02		%	0.12		%	0.56		%	0.08		%
	Three Months Ended															Nine Months Ended
NET LOAN CHARGE OFFS (RECOVERIES):	9/30/2021			6/30/2021			3/31/2021			12/31/2020			9/30/2020			9/30/2021			9/30/2020
Real estate loans	$	40,542		$	11,281		$	2,234		$	(726)		$	5,154		$	54,057		$	7,532
Commercial loans	1,117			181			(80)			1,167			(1,451)			1,218			(535)
Consumer loans	1,019			29			(56)			167			219			992			998
Total net charge offs	$	42,678		$	11,491		$	2,098		$	608		$	3,922		$	56,267		$	7,995

Table Page 7

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands)

NONPERFORMING ASSETS:			6/30/2021			3/31/2021			12/31/2020			9/30/2020
Loans on nonaccrual status 3	54,380		$	111,008		$	109,858		$	85,238		$	69,205
Delinquent loans 90 days or more on accrual status			4,759			384			614			1,537
Accruing troubled debt restructured loans			51,360			41,773			37,354			35,429
Total nonperforming loans			167,127			152,015			123,206			106,171
Other real estate owned			16,619			18,515			20,121			18,410
Total nonperforming assets	113,669		$	183,746		$	170,530		$	143,327		$	124,581
Nonperforming assets/total assets		%	1.05		%	0.99		%	0.84		%	0.74		%
Nonperforming assets/loans receivable & OREO		%	1.37		%	1.24		%	1.06		%	0.95		%
Nonperforming assets/total capital		%	8.78		%	8.34		%	6.98		%	6.11		%
Nonperforming loans/loans receivable		%	1.24		%	1.11		%	0.91		%	0.81		%
Nonaccrual loans/loans receivable		%	0.83		%	0.80		%	0.63		%	0.53		%
Allowance for credit losses/loans receivable		%	1.41		%	1.52		%	1.52		%	1.37		%
Allowance for credit losses/nonaccrual loans		%	170.67		%	189.28		%	242.55		%	259.88		%
Allowance for credit losses/nonperforming loans		%	113.36		%	136.79		%	167.80		%	169.40		%
Allowance for credit losses/nonperforming assets		%	103.11		%	121.94		%	144.24		%	144.36		%
3 Excludes delinquent SBA loans that are guaranteed and currently in liquidation totaling 20.6 million, 23.6 million, 25.0 million, 26.5 million, and 26.2 million at September 30, 2021, June 30, 2021, March 31, 2021, December 31, 2020, and September 30, 2020, respectively.
NONACCRUAL LOANS BY TYPE:			6/30/2021			3/31/2021			12/31/2020			9/30/2020
Real estate loans	41,673		$	95,622		$	91,940		$	67,450		$	51,739
Commercial loans			12,217			14,080			13,911			13,022
Consumer loans			3,169			3,838			3,877			4,444
Total nonaccrual loans	54,380		$	111,008		$	109,858		$	85,238		$	69,205
BREAKDOWN OF ACCRUING TROUBLED DEBT RESTRUCTURED LOANS:			6/30/2021			3/31/2021			12/31/2020			9/30/2020
Retail buildings	11,280		$	12,110		$	6,319		$	5,408		$	5,451
Gas stations/car washes			206			210			219			224
Mixed-use facilities			7,967			3,377			3,521			4,323
Warehouses			14,099			14,124			7,296			7,320
Other 4			16,978			17,743			20,910			18,111
Total	39,509		$	51,360		$	41,773		$	37,354		$	35,429
4 Includes commercial business, consumer, and other loans

All values are in US Dollars.

Table Page 8

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands)

ACCRUING DELINQUENT LOANS 30-89 DAYS PAST DUE:	9/30/2021		6/30/2021		3/31/2021		12/31/2020		9/30/2020
30 - 59 days	$	15,016	$	22,466	$	18,175	$	11,347	$	5,962
60 - 89 days	4,746		6,987		8,314		16,826		58,065
Total	$	19,762	$	29,453	$	26,489	$	28,173	$	64,027
ACCRUING DELINQUENT LOANS 30-89 DAYS PAST DUE BY TYPE:	9/30/2021		6/30/2021		3/31/2021		12/31/2020		9/30/2020
Real estate loans	$	10,359	$	21,432	$	18,331	$	15,689	$	60,510
Commercial loans	9,377		560		1,002		3,393		624
Consumer loans	26		7,461		7,156		9,091		2,893
Total	$	19,762	$	29,453	$	26,489	$	28,173	$	64,027
CRITICIZED LOANS:	9/30/2021		6/30/2021		3/31/2021		12/31/2020		9/30/2020
Special mention	$	306,766	$	294,559	$	280,974	$	184,941	$	153,388
Substandard	243,684		380,955		379,048		366,556		311,902
Doubtful/loss	—		—		—		1		6,640
Total criticized loans	$	550,450	$	675,514	$	660,022	$	551,498	$	471,930

Table Page 9

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands, except share and per share data)

Reconciliation of GAAP financial measures to non-GAAP financial measures
Management reviews select non-GAAP financial measures in evaluating the Company’s and the Bank’s financial performance and in response to market participant interest. A reconciliation of the GAAP to non-GAAP financial measures utilized by management is provided below.
	Three Months Ended									Nine Months Ended
	9/30/2021			6/30/2021			9/30/2020			9/30/2021			9/30/2020
RETURN ON AVERAGE TANGIBLE COMMON EQUITY
Average stockholders’ equity	$	2,092,018		$	2,066,016		$	2,039,555		$	2,068,676		$	2,028,074
Less: Goodwill and core deposit intangible assets, net	(472,918)			(473,445)			(475,010)			(473,438)			(475,530)
Average tangible common equity	$	1,619,100		$	1,592,571		$	1,564,545		$	1,595,238		$	1,552,544
Net income	$	55,499		$	53,763		$	30,490		$	152,949		$	83,196
Return on average tangible common equity (annualized)	13.71		%	13.50		%	7.80		%	12.78		%	7.14		%
	9/30/2021			6/30/2021			12/31/2020			9/30/2020
TANGIBLE COMMON EQUITY
Total stockholders’ equity	$	2,074,398		$	2,092,870		$	2,053,745		$	2,040,561
Less: Goodwill and core deposit intangible assets, net	(472,630)			(473,139)			(474,158)			(474,689)
Tangible common equity	$	1,601,768		$	1,619,731		$	1,579,587		$	1,565,872
Total assets	$	17,799,026		$	17,469,627		$	17,106,664		$	16,733,767
Less: Goodwill and core deposit intangible assets, net	(472,630)			(473,139)			(474,158)			(474,689)
Tangible assets	$	17,326,396		$	16,996,488		$	16,632,506		$	16,259,078
Common shares outstanding	120,198,061			123,673,832			123,264,864			123,260,760
Tangible common equity to tangible assets	9.24		%	9.53		%	9.50		%	9.63		%
Tangible common equity per share	$	13.33		$	13.10		$	12.81		$	12.70					Three Months Ended	Nine Months Ended
---	---	---	---	---	---	---	---	---	---	---
	9/30/2021		6/30/2021		9/30/2020		9/30/2021		9/30/2020
PRE-PROVISION NET REVENUE
Net interest income before provision (credit) for credit losses	$	130,296	$	126,577	$	117,637	$	379,452	$	346,742
Noninterest income	10,617		11,076		17,513		30,497		42,017
Revenue	140,913		137,653		135,150		409,949		388,759
Noninterest expense	75,502		73,123		73,406		219,056		212,576
Pre-provision net revenue	$	65,411	$	64,530	$	61,744	$	190,893	$	176,183

Table Page 10

Document

News Release

HOPE BANCORP DECLARES QUARTERLY CASH DIVIDEND OF $0.14 PER SHARE

LOS ANGELES - October 25, 2021 - Hope Bancorp, Inc. (NASDAQ: HOPE) today announced that its Board of Directors declared a quarterly cash dividend of $0.14 per common share. The dividend is payable on or about November 18, 2021 to all stockholders of record as of the close of business on November 4, 2021.

Investor Conference Call

The Company previously announced that it will host an investor conference call on Tuesday, October 26, 2021 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review financial results for its third quarter ended September 30, 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 at 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 November 2, 2021, replay access code 10161142.

About Hope Bancorp, Inc.

Contacts:

Alex Ko<br><br>Senior EVP & Chief Financial Officer<br><br>213-427-6560<br><br>alex.ko@bankofhope.com	Angie Yang<br><br>SVP, Director of Investor Relations &<br><br>Corporate Communications<br><br>213-251-2219<br><br>angie.yang@bankofhope.com

#

hope-2021q3earningsconfe

1 2021 Third Quarter Earnings Conference Call Tuesday, October 26, 2021

2 Forward Looking Statements & Additional Disclosures This presentation may contain statements regarding future events or the future financial performance of the Company that constitute forward‐looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward‐looking statements relate to, among other things, expectations regarding the business environment in which we operate, projections of future performance, perceived opportunities in the market, and statements regarding our business strategies, objectives and vision. Forward‐ looking statements include, but are not limited to, statements preceded by, followed by or that include the words “will,” “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates” or similar expressions. With respect to any such forward‐looking statements, the Company claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. The Company’s actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward‐looking statements. The risks and uncertainties include, but are not limited to: possible deterioration in economic conditions in our areas of operation; interest rate risk associated with volatile interest rates and related asset‐liability matching risk; liquidity risks; risk of significant non‐earning assets, and net credit losses that could occur, particularly in times of weak economic conditions or times of rising interest rates; the failure of or changes to assumptions and estimates underlying the Company’s allowances for credit losses, including the timing and effects of the implementation of the current expected credit losses model; and regulatory risks associated with current and future regulations, and the COVID‐19 pandemic and its impact on our financial position, results of operations, liquidity, and capitalization. For additional information concerning these and other risk factors, see the Company’s most recent Annual Report on Form 10‐K. The Company does not undertake, and specifically disclaims any obligation, to update any forward‐looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.

3 Q3 2021 Financial Highlights Net Income $55.5MM EPS (diluted) $0.45 Gross Loans $13.42B Total Deposits $15.06B • Net interest income before provision (credit) for credit loss increased 3% to $130.3 million, reflecting higher interest income on investment securities and loans, as well as lower interest expense on deposits • Net income increased 3% Q‐o‐Q to $55.5 million, or $0.45 per diluted common share • PPNR increased 1% to $65.4 million • ROTCE increased 21bps Q‐o‐Q to 13.71%; ROE increased 20bps to 10.61%; and ROA remained stable at 1.25% • New loan production reached a record high $1.01 billion, up 13% from $894.1 million in 2Q21 • Excluding PPP and strategic loan sales and transfer to loans held‐for‐sale (LHFS), loans receivable increased 3% quarter‐over‐quarter • Noninterest bearing deposits increased 7% Q‐o‐Q and accounted for a record high 40% of total deposits • Cost of interest bearing deposits decreased 6 basis points Q‐o‐Q • Total cost of deposits decreased for the 8th consecutive quarter, down 4bps Q‐o‐Q • Significant improvements in asset quality • Nonaccrual loans decreased 51% Q‐o‐Q • Substandard loans decreased 36% Q‐o‐Q • Robust macroeconomic forecasts and improved credit quality and performance led to a reserve release of $10 million Loan Production Asset Quality Deposit TrendsEarnings & Profitability

4 $244 $340 $311 $520 $590 $305 $20 $433 $439 $160 $301 $344 $105 $65 $71 $53 $75 2.88% 3.27% 3.44%1 3.37%1 3.36% 3Q20 4Q20 1Q21 2Q21 3Q21 New Loan Originations Funded CRE PPP C&I Consumer Average Rate Loan Production & Portfolio Trends  New loan originations funded increased to record high $1.01 billion  Strong contributions coming from all areas of lending, each of which achieved a higher level of production Q‐o‐Q  Mix of loan originations reflects a more diverse mix of loans, including more than a two‐fold increase in multi‐family loans, which drove higher CRE production in 3Q21  In addition to new loan originations, purchased $113.9 million of 30‐year adjustable‐rate residential mortgage loans in 3Q21  Aggregate payoffs and paydowns totaled $904.7 million vs. $890.8 million in 2Q21  Aggregate payoffs included higher SBA PPP loan forgiveness of $235.6 million vs. $164.5 million in 2Q21  Excluding SBA PPP loan forgiveness and strategic loan sales and transfers to held‐for‐sale, loans receivable would have increased 3% Q‐o‐Q or 12% annualized  Traditional SBA loan originations reached a record high of $115.0 million of which $105.0 million was SBA 7(a) loans vs. $77.7 million in 2Q21 of which $64.3 million was SBA 7(a)  Residential mortgage originations of $75.0 million vs. $52.8 million in 2Q21  Loan modification under CARES Act steadily decreased to 0.9% of total loans as of 9/30/2021 and expected to wind down to nearly zero by year‐end ($ millions) $782.4 $844.2 $847.1 $1,009.2 $894.1 1 Represents average rate on new loans excluding PPP loans. Including PPP loans, the average rate on new loan originations was 3.32% for 2Q21 and 2.56% for 1Q21 (Excluding PPP loans) +0% +13% +8% +6% Q‐o‐Q increase

5 $117.6 $120.8 $122.6 $126.6 $130.3 2.91% 3.02% 3.06% 3.11% 3.07% 3Q20 4Q20 1Q21 2Q21 3Q21 Net Interest Income & NIM Net Interest Income NIM Net Interest Income and Margin  Net interest income increased 3% reflecting primarily reflecting 2% increase in interest income and 8% decrease in interest expense  A 5% increase in the average balance of investment securities contributed to a $1.5 million increase in interest income Q‐o‐Q  The net fee accelerations recognized from PPP forgiveness was $3.2 million in 3Q21 vs. $1.8 million in 2Q21, contributing to higher interest income +2% +3% +3% +3% Q‐o‐Q growth 5 consecutive quarters of increasing net interest income 2Q21 3Q21 3.11% 3.07% Deposit cost decline Invest‐ ment yield increase Average cash balance increase Loan yield decline Interest bearing deposit balance increase +4bps +2bps ‐8bps ‐1bps ‐1bps 3Q21 net interest margin decreased 4bps Q‐o‐Q

6 Interest Rate Risk 29% 50% 68% 33% 36% 71% 50% 32% 67% 64% 2.88% 3.27% 3.44% 1 3.37% 1 3.36% 3Q20 4Q20 1Q21 2Q21 3Q21 New Loan Fixed/Variable and Average Rate Fixed Variable Avg Rate Variable 41% @3.27% 2 Fixed 31% @3.64% 2, 3 Hybrid 1 29% @4.12% 2 Fixed / Variable Breakdown 1 Hybrid loans have fixed interest rates for a specified period and then convert to variable interest rates (fixed as of 09/30/2021) 2 The weighted average rate represents coupon rate and excludes loan discount accretion and interest on nonaccrual loans 3 Excluding SBA PPP loans, average yield for fixed rate loans is 3.87%1 Average rate on new loans including SBA PPP was 2.56% for 1Q21 and 3.32% for 2Q21 ‐1.3% 2.4% 4.8% ‐1.7% 3.5% 7.1% ‐1.9% 4.9% 9.8% ‐2.9% 5.7% 11.2% ‐4.50% ‐3.50% ‐2.50% ‐1.50% ‐0.50% 0.50% 1.50% 2.50% 3.50% 4.50% 5.50% 6.50% 7.50% 8.50% 9.50% 10.50% 11.50% ‐100 bps +100 bps +200 bps Net Interest Income Sensitivity Q420 1Q21 2Q21 3Q21 Q420 1Q21 2Q21 3Q21 Q420 1Q21 2Q21 3Q21  Company positioned as asset sensitive at 9/30/2021 and expects to see increased net interest income as interest rates rise  Variable rate loans as percentage of total loans trending higher in 2021 and was 41% at 09/30/21  Significant increases in noninterest bearing demand deposits throughout 2021 contributed to Company’s asset sensitive position vs. year‐end 2020 (Excluding PPP loans) (As of 9/30/2021)

7 $2.7 $3.0 $1.8 $1.8 $1.8 $1.0 $0.7 $0.8 $0.8 $0.9 $1.5 $1.1 $1.6 $1.6 $1.3 $0.9 $0.9 $0.8 $0.9 $0.8 $1.4 $2.9 $1.1 $1.3 $1.5 $2.9 $1.6 $2.1 $1.0 $0.8 $2.4 $2.5 3Q20 4Q20 1Q21 2Q21 3Q21 Customer‐Related Fee Income* and Net Gain on Sale of Loans Deposit Service Fees International Service Fees Loan Related Fees and Income Wire Transfer Fees Other Customer Related Fees Gain on Sale of Mortgage Loans Gain on Sale of SBA Loans Noninterest Income  Customer‐related noninterest fee income and net gain on sale of loans decreased slightly to $9.6 million in 3Q21 vs. $9.9 million in 2Q21  $300,000 decrease driven mostly by lower loan servicing fees resulting from increase in SBA 7(a) loans payoffs and lower level of gain on sale of mortgage loans  Company sold $31.3 million of the guaranteed portion of SBA 7(a) loans to the secondary market in 3Q21 vs. $30.0 million in 2Q21  Company sold $40.2 million of residential mortgage loans and recorded gain on sale of mortgage loans of $781,000, vs. $42.6 million and $1.0 million, respectively, in 2Q21  Decrease in gain on sale of mortgage loans reflects lower amount of residential mortgage loan sales and lower premiums $10.4 $10.2 $8.2 $9.9 $9.6 ($ millions) * Fee income excludes gain on sale of securities, MTM adjustments on derivatives, earnings on BOLI, gain on sale of fixed assets, and other income.

8 Noninterest Expense and Efficiency 54.31% 53.77% 53.61% 53.12% 53.58% 1.73% 1.69% 1.65% 1.70% 1.70% 3Q20 4Q20 1Q21 2Q21 3Q21 Efficiency Ratio & Noninterest Expense to Average Assets Efficiency Ratio Noninterest Expense/Avg Assets  Noninterest expense increased to $75.5 million from $73.1 million in 2Q21 – 3Q21 salaries and benefits include an increase in bonus reserves due to higher‐than‐expected financial performance – Employee base salaries increased Q‐o‐Q largely reflecting frontline additions, including new multi‐family lending team, as well as wage increases to retain employees – Credit related expenses were within the normal fluctuation range but was higher by $1.2 million Q‐o‐Q – Professional fees decreased by $2.0 million Q‐o‐Q reflecting favorable outcome and closure of a litigation case  Efficiency ratio fairly stable and noninterest expense to average assets maintained at 1.70% ($ millions) $40.7 $40.9 $41.2 $42.3 $47.0 $18.3 $18.3 $19.7 $22.1 $20.6 $3.6 $1.9 $2.5 $0.3 $1.5$7.3 $7.6 $7.0 $6.3 $6.4$3.61 $2.42 $2.13 1,416 1,408 1,444 1,438 1,449 3Q20 4Q20 1Q21 2Q21 3Q21 Breakdown of Noninterest Expense & FTE Compensation Other core operating expenses Credit related & OREO Other Other non‐core Full‐time employee (FTE) $73.4 $71.1 $70.4 $73.1 $75.5 1 3Q20 noninterest expenses included FHLB prepayment fee of $3.6 million 2 4Q20 noninterest expenses included branch restructuring costs of $2.4 million 3 2Q21 noninterest expenses included software charge off expense of $2.1 million 4 Other core operating expenses include: Occupancy & equipment, Advertising & marketing, Data & communications, Professional fees and FDIC assessment 4

9 $4.5 $4.8 $5.4 $5.6 $6.0 $4.8 $5.2 $5.0 $5.8 $5.9$0.3 $0.3 $0.3 $0.3 $0.3$4.4 $4.0 $3.6 $3.0 $2.9 9/30/20 12/31/20 3/31/21 6/30/21 9/30/21 Deposit Composition DDA MMA/NOW Savings Time Deposit Trends  Noninterest bearing demand deposits increased 7% Q‐o‐Q and accounted for a record 40% of total deposits at 9/30/21  MMA & NOW deposits increased 1% Q‐o‐Q and accounted for 39% of total deposits at 9/30/21  Time deposits decreased 4% Q‐o‐Q and declined to 19% of total deposits at 9/30/21  Total cost of deposits decreased 4bps Q‐o‐Q and total cost of interest bearing deposits decreased 6bps  Net Loan‐to‐Deposit ratio at 9/30/21 was 88.2% vs. 89.9% as of 6/30/21 $15.06 0.73% 0.64% 0.56% 0.51%0.48% 0.44% 0.40% 0.36% 0.32%0.31%0.30%0.28%0.27%0.25%0.24% Jul‐20 Aug‐20 Sep‐20 Oct‐20 Nov‐20 Dec‐20 Jan‐21 Feb‐21 Mar‐21 Apr‐21 May‐21 Jun‐21 Jul‐21 Aug‐21 Sep‐21 Deposit Cost Trend Quarterly Cost of Deposits Monthly Cost of Deposits 0.26% 3Q21 0.30% 2Q21 0.36% 1Q21 0.48% 4Q20 $14.73$14.30$14.33$14.01 ‐1% +9% +9% +12% ($ billions) Q‐o‐Q growth annualized 0.64% 3Q20 $9.9 $9.5 $9.3 $9.0 $9.1 0.92% 0.71% 0.56% 0.48% 0.42% 3Q20 4Q20 1Q21 2Q21 3Q21 Average Interest Bearing Deposits & Cost of Deposits Average Interest Bearing Deposits Cost of Interest Bearing Deposits ($ billions)

10 $22.0 $27.5 $3.3 ‐$7.0 ‐$10.0 0.12% 0.02% 0.06% 0.35% 1.28% 3Q20 4Q20 1Q21 2Q21 3Q21 Provision (Credit) for Credit Losses & Net Charge Offs Provision for Credit Losses Net Charge Offs (annualized) ($ millions) Asset Quality $106.2 $123.2 $152.0 $167.1 $98.5 $18.4 $20.1 $18.5 $16.6 $15.2 0.74% 0.84% 0.99% 1.05% 0.64% 3Q20 4Q20 1Q21 2Q21 3Q21 Nonperforming Assets NPLs OREO NPAs/Total Assets $153.4 $184.9 $281.0 $294.6 $306.8 $318.5 $366.6 $379.0 $381.0 $243.7 3.60% 4.07% 4.82% 5.03% 4.10% 3Q20 4Q20 1Q21 2Q21 3Q21 Total Criticized Loans Substandard & Doubtful Special Mention Total Criticized Loans as a % of Gross Loans ($ millions) ($ millions) $113.7 $124.6 $143.3 $170.5 $183.7 $550.5 $471.9 $551.5 $660.0 $675.5  Asset quality improved significantly in 3Q21 primarily reflecting:  Nonaccrual loans decreased 51% Q‐o‐Q  Substandard loans decreased 36% Q‐o‐Q  De‐risked loan portfolio of potentially problematic assets through strategic loan sales of $29.6 million and transfers to LHFS of $131.2 million in 3Q21  Net charge offs of $42.7 million largely reflects one large relationship moved to nonaccrual status in 1Q21, along with strategic loan sales and transfers to LHFS (Credit) for Credit Losses

11 Allocation of Allowance by Loan Type ($ thousands) Allocation of Allowance for Credit Losses Q‐o‐Q Change 2Q21 to 3Q21Sep 30, 2020 Jun 30, 2021 Sep 30, 2021 Loan Type Amount Coverage Ratio Amount Coverage Ratio Amount Coverage Ratio Amount Coverage Ratio Commercial RE $ 129,624 1.49% $ 155,253 1.76% $ 105,569 1.19% $ (49,684) ‐0.57% Residential $ 208 0.38% $ 330 0.54% $ 371 0.62% $ 41 0.08% Commercial $ 127,483 1.53% $ 153,266 1.80% $ 103,562 1.20% $ (49,705) ‐0.60% Construction $ 1,933 0.62% $ 1,657 0.66% $ 1,636 0.66% $ (20) N/C Commercial Business $ 44,209 1.19% $ 29,500 0.74% $ 27,372 0.71% $ (2,128) ‐0.03% Residential Mortgage $ 4,699 0.71% $ 3,612 0.66% $ 2,689 0.45% $ (923) 0.21% Consumer $ 1,317 2.81% $ 1,087 2.31% $ 1,144 2.69% $ 57 0.38% Total Allowance $ 179,849 $ 189,452 $ 136,774 ‐52,678 Coverage Ratio to Loans Receivable 1.37% 1.41% 1.02% Excluding PPP 1.42% 1.47% 1.05% Excluding PPP & Including Discount on Acquired Loans 1.63% 1.61% 1.16%

12 Strong Capital Position & Returns 13.16% 10.43% 11.44% 12.14% 12.42% 9.98% 11.01% 11.70% Total Risk‐ Based Capital Ratio Tier 1 Leverage Ratio Tier 1 Common Equity Ratio Tier 1 Capital Ratio 6/30/2021 9/30/2021 Maintaining strong levels of capital while enhancing capital returns • Quarterly common stock dividend of $0.14 per share • New $50 million stock repurchase program announced in 3Q21 • Repurchased 3,487,426 shares at average price of $13.51 as of 9/30/21 • $2.8 million remaining of current program $17.3 $17.3 $17.3 $17.3 $17.3 $47.2 3Q20 4Q20 1Q21 2Q21 3Q21 Dividends & Buybacks Dividends Buybacks Capital Positions ($ millions)

13 Near-Term Outlook  Loan Growth: Robust loan pipeline and strengthened focus on business development to lead to organic loan growth in the quarters ahead  Noninterest Expenses: Decreasing trend from 3Q21 to normalized range of $72 to $74 million  Net Interest Margin: Relatively stable in 4Q21 in light stability in loan yields and deposit costs, subject to excess liquidity pressures  Asset Quality: Improving asset quality metrics as U.S. economy and borrowers continue to recover from pandemic  Profitability: Enhanced profitability metrics driven by robust loan production, lower‐cost deposit mix and improved asset quality metrics

14 2021 Third Quarter Earnings Conference Call Q&A

15 Appendix: Non-GAAP Financials ($ in thousands) 3Q21 Loans receivable beginning balance Loans receivable ending balance $ 13,424,301 $ 13,418,691 Loan balance change (as reported) Quarter‐over‐Quarter change in loans receivable $ (5,610) 0.0% SBA PPP loan forgiveness (payoffs) Strategic loan sales Strategic transfers to LHFS $ (235,612) (29,601) (131,176) Loan balance change (excluding PPP loan forgiveness, strategic loans sales and transfers to LHFS) Quarter‐over‐Quarter change in loans receivable $ 390,779 + 2.9% Loans Receivable, excluding PPP forgiveness, strategic loan sales and transfer to loans held‐for‐sale Pre‐provision Net Revenue (PPNR) ($ in thousands) 3Q21 2Q21 3Q20 Net interest income before provision (credit) for credit losses $130,296 $126,577 $117,637 Noninterest income 10,617 11,076 17,513 Revenue 140,913 137,653 135,150 Less: noninterest expense 75,502 73,123 73,406 Pre‐provision net revenue $65,411 $64,530 $61,744 ($ in thousands) 3Q21 2Q21 3Q20 Average stockholders’ equity $2,092,018 $2,066,016 $2,039,555 Less: goodwill and core deposit intangible assets, net (472,918) (473,445) (475,010) Average tangible common equity $1,619,100 $1,592,571 $1,564,545 Net Income $55,499 $53,763 $30,490 Return on average tangible common equity (annualized) 13.71% 13.50% 7.80% Return on Average Tangible Common Equity (ROTCE)