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

April 26, 2024

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 April 29, 2024, Hope Bancorp, Inc. (“HOPE” or the “Company”) issued a news release concerning its results of operations and financial condition for the first quarter ended and as of March 31, 2024. A copy of the April 29, 2024, news release is furnished as Exhibit 99.1 and incorporated herein by reference.

Item 7.01. Regulation FD Disclosure

The Company previously announced that it will host an investor conference call on Monday, April 29, 2024, at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review financial results for its first quarter ended and as of March 31, 2024. A presentation to accompany the conference call (“Earnings Presentation”), which contains certain historical and forward-looking information relating to the Company, has been made available at the Investor Relations section of Hope Bancorp’s website at www.ir-hopebancorp.com. A copy of the Earnings Presentation is furnished as Exhibit 99.2 and incorporated herein by reference.

Another presentation to accompany the conference call (“Merger Agreement Presentation”) that contains certain historical and forward-looking information relating to the Company's proposed merger with Territorial Bancorp Inc., as further described under Item 8.01 below, has been made available at the Investor Relations section of Hope Bancorp’s website at www.ir-hopebancorp.com. A copy of the Merger Agreement Presentation is furnished as Exhibit 99.5 and incorporated herein by reference.

The information furnished under Item 2.02, Item 7.01 and exhibits 99.1, 99.2 and 99.5 under Item 9.01 of this Current Report on Form 8-K to this Current Report on Form 8-K) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to liabilities under that Section, nor shall they be deemed incorporated by reference in any registration statement or other filings of the Company under the Securities Act of 1933 or the Exchange Act, except as shall be set forth as a specific reference in such filing.

Item 8.01 Other Events.

On April 29, 2024, 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 May 23, 2024, to all stockholders of record as of the close of business on May 9, 2024. A copy of the April 29, 2024, news release is attached hereto as Exhibit 99.3 and is incorporated herein by reference.

On April 26, 2024, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Territorial Bancorp Inc., a Maryland corporation (“Territorial”). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, Territorial will merge with and into the Company, with the Company continuing as the surviving entity (the “Merger”). Following the Merger, Territorial Savings Bank, a wholly owned subsidiary of Territorial, will merge with and into Bank of Hope, a wholly owned subsidiary of the Company, with Bank of Hope continuing as the surviving bank. The Merger Agreement was unanimously approved by the Boards of Directors of each of the Company and Territorial.

Subject to the terms and conditions set forth in the Merger Agreement, at the effective time of the Merger, holders of Territorial common stock will have the right to receive 0.8048 shares of common stock, par value $0.001 per share, of the Company for each share of common stock, par value $0.01 per share, of Territorial. The Merger Agreement contains representations, warranties and covenants of both the Company and Territorial. The completion of the Merger is subject to approval of Territorial stockholders, regulatory approvals and customary closing conditions.

On April 29, 2024, the Company and Territorial issued a joint press release announcing the execution of the Merger Agreement. A copy of the joint press release is attached as Exhibit 99.4 and is incorporated herein by reference.

Additional Information and Where to Find It

In connection with the proposed merger, the Company will file with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4, which will include a Proxy Statement of Territorial Bancorp Inc., that also constitutes a prospectus of Hope Bancorp, Inc. Territorial Bancorp shareholders are encouraged to read the Registration Statement and the Proxy Statement/Prospectus regarding the merger when it becomes available and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information about the proposed merger. Territorial Bancorp shareholders will be able to obtain a free copy of the Proxy Statement/Prospectus, as well as other filings containing information about Hope Bancorp and Territorial Bancorp at the SEC’s Internet site (www.sec.gov). Territorial Bancorp shareholders will also be able to obtain these documents, free of charge, from Territorial Bancorp at https://www.tsbhawaii.bank/tsb/investor-relations/.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description of Exhibit
99.1	News release, dated April 29 , 2024, concerning the results of operations and financial condition for the first quarter ended and as of March 31, 202 4 .
99.2	2024 First Quarter Earnings Presentation , dated April 29 , 2024.
99.3	News release, dated April 29, 2024, announcing the declaration of a quarterly cash dividend.
99.4	News release, dated April 29 , 2024, announcing the definitive merger agreement between Hope Banco rp, Inc. and Territorial Bancorp Inc .
99.5	Merger Agreement Presentation, dated April 29, 2024.
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: April 29, 2024	By:	/s/ Kevin S. Kim
		Kevin S. Kim
		Chairman, President and Chief Executive Officer

Document

News Release

HOPE BANCORP REPORTS 2024 FIRST QUARTER FINANCIAL RESULTS;

SIGNS DEFINITIVE MERGER WITH TERRITORIAL BANCORP

LOS ANGELES - April 29, 2024 - Hope Bancorp, Inc. (“Company”) (NASDAQ: HOPE), the holding company of Bank of Hope (“Bank”), today reported unaudited financial results for its first quarter ended March 31, 2024. For the three months ended March 31, 2024, net income totaled $25.9 million, or $0.21 per diluted common share. This compares with net income of $26.5 million, or $0.22 per diluted common share, in the fourth quarter of 2023.

“We are pleased with the progress we are making in our strategic transformation, realigning our structure around lines of business and products,” stated Kevin S. Kim, Chairman, President and Chief Executive Officer. “All our business lines exceeded their deposit goals for the first quarter of 2024; growth in customer deposits offset a planned reduction of brokered time deposits, resulting in stable balances quarter-over-quarter. Our first quarter financial results demonstrated the benefits of our more efficient structure with noninterest expenses, excluding notable items(1), decreasing 2% from the preceding fourth quarter of 2023. All our capital ratios increased quarter-over-quarter, with our tangible common equity ratio(2) rising to 9.33% and our total capital ratio rising to 14.19%, both as of March 31, 2024.

“The strength of our balance sheet positioned us well to capitalize on strategic opportunities in the market. This morning, we announced the signing of a definitive merger agreement with Territorial Bancorp, the stock holding company of Territorial Savings Bank, a $2.2 billion savings bank headquartered in Hawai‘i,” continued Kim. “Territorial has a stable, low-cost core deposit base, excellent asset quality, and provides us an entry point to the attractive Hawai‘i market, which has a large Asian American and Pacific Islander population. Moreover, the combination with Territorial would more than double the size of Hope’s residential mortgage portfolio. We expect this transaction, upon completion, to be immediately accretive to earnings, sustainably strengthening our profitability while further diversifying our franchise.”

Territorial Bancorp Merger Agreement

As concurrently announced in a joint news release issued today, the Company and Territorial Bancorp Inc. (Nasdaq: TBNK) (“Territorial”) signed a definitive merger agreement, which is expected to create the largest regional bank catering to multi-ethnic customers with full-service branches across the continental United States and Hawai‘i.

Under the terms of the merger agreement, following the completion of the transaction, Territorial shareholders will receive a fixed exchange ratio of 0.8048 shares of the Company’s common stock in exchange for each share of Territorial common stock they own, in a 100% stock-for-stock transaction valued at approximately $78.6 million. Based on the closing price of the Company’s common stock on April 26, 2024, this represents a value of $8.82 per share of Territorial common stock, although the actual value will be determined upon transaction closing. Upon completion of the transaction, it is expected that the Company’s shareholders will own approximately 94.4% of the combined entity, and Territorial’s shareholders will own approximately 5.6%, with the actual percentages being determined as of the transaction closing date. The transaction is intended to qualify as a tax-free reorganization for Territorial shareholders.

Upon completion of the merger, the Company intends to preserve and build upon the 100-plus year legacy of the Territorial Savings Bank brand name, culture and commitment to its local communities. Accordingly, the legacy Territorial franchise in Hawai‘i will continue to do business under the Territorial Savings Bank brand, as a trade name of Bank of Hope.

(1) Noninterest expense, excluding the FDIC special assessment, restructuring charges and merger-related expenses (also referred to collectively as the “notable items”), is a non-GAAP financial measure. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the accompanying financial information on Table Pages 9 and 10.

(2) Tangible common equity (“TCE”) ratio is a non-GAAP financial measure. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the accompanying financial information on Table Pages 9 and 10.

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The Boards of Directors of both companies have approved the transaction. The transaction is expected to close by year-end 2024, subject to regulatory approvals, the approval of Territorial shareholders, and the satisfaction of other customary closing conditions.

Operating Results for the 2024 First Quarter

Net income and earnings per share. Net income for the 2024 first quarter was $25.9 million, or $0.21 per diluted common share, compared with $26.5 million, or $0.22 per diluted common share, for the immediately preceding fourth quarter. Notable items impacting net income for the 2024 first quarter included $752,000 of merger-related expenses, after tax, related to the Company’s proposed acquisition of Territorial announced today; an accrual of $721,000, after tax, for an incremental Federal Deposit Insurance Corporation (“FDIC”) special assessment; and restructuring costs of $103,000, after tax, related to the Company’s strategic reorganization announced in the 2023 fourth quarter. In the immediately preceding fourth quarter, notable items impacting net income were $8.7 million of restructuring costs, after tax, and $3.1 million, after tax, accrued for an FDIC special assessment. Excluding these notable items, net income(3) for the 2024 first quarter was $27.4 million, compared with $38.3 million for the fourth quarter of 2023. Earnings per diluted common share excluding notable items(3) amounted to $0.23 for the three months ended March 31, 2024, compared with $0.32 for the three months ended December 31, 2023.

Net interest income and net interest margin. Net interest income before provision for credit losses for the 2024 first quarter totaled $115.0 million, compared with $125.9 million in the immediately preceding fourth quarter, a decrease of 9% quarter-over-quarter. First quarter 2024 net interest margin contracted 15 basis points to 2.55% from 2.70% in the 2023 fourth quarter. The linked-quarter change in net interest income and net interest margin largely reflected a decline in the average balance of loans and a higher cost of interest bearing deposits, partially offset by a decrease in the average balance of time deposits and wholesale borrowings.

Noninterest income. Noninterest income for the 2024 first quarter totaled $8.3 million, compared with $9.3 million in the immediately preceding fourth quarter. Growth in deposit account service fees was offset by reductions in other income and fees. The Company continued to retain SBA 7(a)loan production on its balance sheet and did not sell any loans in the 2024 first quarter.

Noninterest expense. Noninterest expense for the 2024 first quarter was $84.8 million, including $1.0 million of merger-related expenses, an incremental accrual of $1.0 million for the FDIC special assessment, and $143,000 of restructuring-related costs, all on a pre-tax basis. For the immediately preceding fourth quarter, noninterest expense was $99.2 million, including $11.1 million of pre-tax restructuring costs and $4.0 million (pre-tax) accrued for the FDIC special assessment.

Excluding notable items, noninterest expense for the 2024 first quarter was $82.7 million, down 2% compared with $84.1 million for the 2023 fourth quarter, and down 7% compared with $88.7 million for the 2023 first quarter. First quarter 2024 salaries and employee benefits expense increased 1% quarter-over-quarter to $47.8 million, up from $47.4 million in the 2023 fourth quarter, reflecting seasonal increases in payroll taxes and vacation accruals, partially offset by reduced salary and benefits costs following the restructuring in the fourth quarter of 2023. Year-over-year, salaries and employee benefits expense decreased 16% from $57.2 million in the 2023 first quarter. Occupancy expenses decreased 6% quarter-over-quarter and 10% year-over-year, reflecting branch rationalization.

Tax rate. The effective tax rate for the 2024 first quarter was 27.9%, compared with 24.9% for the full year 2023. The provision for income taxes in the 2024 first quarter was $10.0 million and included $1.1 million of true-up adjustments, which are not expected to recur. For the full year 2024, the Company expects the effective tax rate to be approximately 26%.

(3) Net income excluding notable items and earnings per diluted common share excluding notable items are non-GAAP financial measures. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the accompanying financial information on Table Pages 9 and 10.

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Balance Sheet Summary

Cash and investment securities. At March 31, 2024, cash and cash equivalents totaled $1.19 billion, compared with $1.93 billion at December 31, 2023. The decrease primarily reflected the payoff of $1.00 billion of the Company’s Bank Term Funding Program (“BTFP”) borrowings with existing cash on March 19, 2024. At March 31, 2023, cash and equivalents were $2.21 billion. Investment securities totaled $2.28 billion at March 31, 2024, $2.41 billion at December 31, 2023, and $2.23 billion at March 31, 2023.

Loans. Loans receivable of $13.72 billion at March 31, 2024, decreased 1% from $13.85 billion at December 31, 2023, reflecting declines in commercial and commercial real estate loans, partially offset by strong growth in residential mortgage loans.

The following table sets forth the loan portfolio composition at March 31, 2024, December 31, 2023, and March 31, 2023:

(dollars in thousands) (unaudited)	3/31/2024				12/31/2023				3/31/2023
	Balance		Percentage		Balance		Percentage		Balance		Percentage
Commercial real estate (“CRE”) loans	$	8,707,673	63.5	%	$	8,797,884	63.6	%	$	9,373,529	62.2	%
Commercial and industrial (“C&I”) loans	4,041,063		29.5	%	4,135,044		29.8	%	4,821,270		32.0	%
Residential mortgage and other loans	970,442		7.0	%	920,691		6.6	%	870,050		5.8	%
Loans receivable	$	13,719,178	100.0	%	$	13,853,619	100.0	%	$	15,064,849	100.0	%

Deposits. Total deposits were stable quarter-over-quarter with total deposits of $14.75 billion at March 31, 2024 and December 31, 2023, reflecting growth in customer deposits that offset a planned reduction of brokered deposits. During the first quarter of 2024, the Company reduced brokered time deposits by $182.7 million, or 13% from December 31, 2023.

The following table sets forth the deposit composition at March 31, 2024, December 31, 2023, and March 31, 2023:

(dollars in thousands) (unaudited)	3/31/2024				12/31/2023				3/31/2023
	Balance		Percentage		Balance		Percentage		Balance		Percentage
Noninterest bearing demand deposits	$	3,652,592	24.7	%	$	3,914,967	26.5	%	$	4,504,621	28.4	%
Money market, interest bearing demand, and savings deposits	5,313,064		36.0	%	4,872,029		33.0	%	4,563,702		28.9	%
Time deposits	5,787,761		39.3	%	5,966,757		40.5	%	6,759,886		42.7	%
Total deposits	$	14,753,417	100.0	%	$	14,753,753	100.0	%	$	15,828,209	100.0	%
Gross loan-to-deposit ratio			93.0	%			93.9	%			96.0	%

Borrowings. Federal Home Loan Bank and Federal Reserve Bank borrowings totaled $795.6 million at March 31, 2024, $1.80 billion at December 31, 2023, and $2.13 billion at March 31, 2023. The quarter-over-quarter reduction reflects the payoff of $1.00 billion of the Company’s BTFP borrowings during the 2024 first quarter.

Credit Quality and Allowance for Credit Losses

Nonperforming assets. Nonperforming assets totaled $106.8 million, or 0.59% of total assets, at March 31, 2024. This compares with nonperforming assets of $45.5 million, or 0.24% of total assets, at December 31, 2023, and $80.2 million, or 0.39% of total assets, at March 31, 2023. The quarter-over-quarter increase in nonperforming assets largely reflects one relationship consisting of three commercial real estate loans that were accruing delinquent loans past due 90 days or more at March 31, 2024. These loans are fully secured and sales agreements are in place for the collateral properties.

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The following table sets forth the components of nonperforming assets at March 31, 2024, December 31, 2023, and March 31, 2023:

(dollars in thousands) (unaudited)	3/31/2024			12/31/2023			3/31/2023
Loans on nonaccrual status (1)	$	59,526		$	45,204		$	78,861
Accruing delinquent loans past due 90 days or more		47,290			261			364
Total nonperforming loans		106,816			45,465			79,225
Other real estate owned		—			63			938
Total nonperforming assets	$	106,816		$	45,528		$	80,163
Nonperforming assets/total assets		0.59	%		0.24	%		0.39	%

_____________________________________

(1) Excludes delinquent SBA loans that are guaranteed and currently in liquidation totaling $10.9 million, $11.4 million and $7.6 million at March 31, 2024, December 31, 2023, and March 31, 2023, respectively.

Net charge offs and provision for credit losses. The Company recorded net charge offs of $3.5 million in the 2024 first quarter, equivalent to 0.10%, annualized, of average loans. This compares with net charge offs of $1.8 million, or 0.05%, annualized, of average loans in the immediately preceding fourth quarter.

The following table sets forth net charge offs and annualized net charge off ratios for the three months ended March 31, 2024, December 31, 2023, and March 31, 2023:

	For the Three Months Ended
(dollars in thousands) (unaudited)	3/31/2024			12/31/2023			3/31/2023
Net charge offs	$	3,536		$	1,815		$	108
Net charge offs/average loans receivable (annualized)		0.10	%		0.05	%		—	%

For the 2024 first quarter, the Company recorded a provision for credit losses of $2.6 million. This compares with a provision for credit losses of $2.4 million in the immediately preceding fourth quarter.

Allowance for credit losses. The allowance for credit losses totaled $158.8 million at March 31, 2024, compared with $158.7 million at December 31, 2023. The allowance coverage ratio was 1.16% of loans receivable at March 31, 2024, up one basis point from 1.15% at December 31, 2023. Year-over-year, allowance coverage of loans receivable increased from 1.09% at March 31, 2023.

The following table sets forth the allowance for credit losses and the coverage ratios at March 31, 2024, December 31, 2023, and March 31, 2023:

(dollars in thousands) (unaudited)	3/31/2024			12/31/2023			3/31/2023
Allowance for credit losses	$	158,758		$	158,694		$	163,544
Allowance for credit losses/loans receivable		1.16	%		1.15	%		1.09	%

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Capital

The Company’s capital ratios are strong and all regulatory risk-based capital ratios expanded quarter-over-quarter and year-over-year. At March 31, 2024, the Company and the Bank continued to exceed all regulatory capital requirements generally required to meet the definition of a “well-capitalized” financial institution. The following table sets forth the capital ratios for the Company at March 31, 2024, December 31, 2023, and March 31, 2023:

(unaudited)	3/31/2024	12/31/2023	3/31/2023	Minimum Guideline for “Well-Capitalized”
Common Equity Tier 1 Capital Ratio	12.47%	12.28%	10.75%	6.50%
Tier 1 Capital Ratio	13.17%	12.96%	11.36%	8.00%
Total Capital Ratio	14.19%	13.92%	12.25%	10.00%
Leverage Ratio	10.42%	10.11%	10.13%	5.00%

At March 31, 2024, total stockholders’ equity was $2.11 billion, or $17.51 per common share. Quarter-over-quarter, stockholders’ equity decreased slightly by $9.0 million, primarily reflecting an adverse change in accumulated other comprehensive income (“AOCI”), partially offset by growth in retained earnings. Tangible common equity (“TCE”) per share(1) was $13.63 at March 31, 2024, compared with $13.76 at December 31, 2023, and the TCE ratio(1) was 9.33%, up 47 basis points quarter-over-quarter.

The following table sets forth the TCE per share and the TCE ratio at March 31, 2024, December 31, 2023, and March 31, 2023:

(unaudited)	3/31/2024	12/31/2023	3/31/2023
TCE per share (1)	$13.63	$13.76	$13.26
TCE ratio (1)	9.33%	8.86%	7.91%

__________________

(1) TCE per share and TCE ratio are non-GAAP financial measures. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the accompanying financial information on Table Pages 9 and 10.

Investor Conference Call

The Company previously announced that it will host an investor conference call on Monday, April 29, 2024, at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time to review unaudited financial results for its first quarter ended March 31, 2024. 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, along with a presentation regarding the proposed Territorial merger, 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 at least 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 May 6, 2024, replay access code 4889007.

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Non-GAAP Financial Metrics

This news release and accompanying financial tables contain certain non-GAAP financial measure disclosures, including net income excluding notable items, earnings per share excluding notable items, noninterest expense excluding notable items, TCE per share, TCE ratio, ROA excluding notable items, ROE excluding notable items, ROTCE, ROTCE excluding notable items, efficiency ratio excluding notable items and noninterest expense / average assets excluding notable items. Management believes these non-GAAP financial measures provide meaningful supplemental information regarding the Company’s operational performance and the Company’s capital levels and has included these figures in response to market participant interest in these financial metrics. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the accompanying financial information on Table Pages 9 and 10.

About Hope Bancorp, Inc.

Hope Bancorp, Inc. (NASDAQ: HOPE) is the holding company of Bank of Hope, the first and only super regional Korean American bank in the United States with $18.09 billion in total assets as of March 31, 2024. Headquartered in Los Angeles and serving a multi-ethnic population of customers across the nation, the Bank provides a full suite of commercial, corporate and consumer loans, including commercial and commercial real estate lending, SBA lending, residential mortgage and other consumer lending; deposit and fee-based products and services; international trade financing; cash management services, foreign currency exchange solutions, and interest rate derivative products, among others. Bank of Hope operates 48 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Alabama, and Georgia. The Bank also operates SBA loan production offices, commercial loan production offices, and residential mortgage loan production offices in the United States; and a representative office in Seoul, Korea. 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 www.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.

About Territorial Bancorp Inc.

Territorial Bancorp Inc. (NASDAQ: TBNK), headquartered in Honolulu, Hawai‘i, is the stock holding company for Territorial Savings Bank. Territorial Savings Bank is a state-chartered savings bank which was originally chartered in 1921 by the Territory of Hawai‘i. Territorial Savings Bank conducts business from its headquarters in Honolulu, Hawai‘i and has 28 branch offices in the state of Hawai‘i. For additional information, please visit Territorial’s website at: https://www.tsbhawaii.bank. By including the foregoing website address link, Territorial does not intend to and shall not be deemed to incorporate by reference any material contained or accessible therein.

Additional Information and Where to Find It

In connection with the proposed merger, Hope Bancorp, Inc. will file with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4, which will include a Proxy Statement of Territorial Bancorp Inc., that also constitutes a prospectus of Hope Bancorp, Inc. Territorial Bancorp shareholders are encouraged to read the Registration Statement and the Proxy Statement/Prospectus regarding the merger when it becomes available and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information about the proposed merger. Territorial Bancorp shareholders will be able to obtain a free copy of the Proxy Statement/Prospectus, as well as other filings containing information about Hope Bancorp and Territorial Bancorp at the SEC’s Internet site (www.sec.gov). Territorial Bancorp shareholders will also be able to obtain these documents, free of charge, from Territorial Bancorp at https://www.tsbhawaii.bank/tsb/investor-relations/.

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Participants in Solicitation

Territorial Bancorp and its directors, executive officers, management and employees may be deemed to be participants in the solicitation of proxies in respect of the merger. Information concerning Territorial Bancorp’s participants is set forth in the Proxy Statement, dated April 16, 2024, for Territorial Bancorp’s 2024 annual meeting of stockholders as filed with the SEC on Schedule 14A. Additional information regarding the interests of participants of Territorial Bancorp in the solicitation of proxies in respect of the merger will be included in the Registration Statement and Proxy Statement/Prospectus to be filed with the SEC.

Forward-Looking Statements

Some statements in this news 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 Territorial Bancorp’s low-cost core deposit base, strengthening of profitability, diversification of franchise, and statements about the proposed transaction being immediately accretive. 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, Hope Bancorp and Territorial Bancorp each claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. Hope Bancorp’s actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. The closing of the proposed transaction is subject to regulatory approvals, the approval of Territorial Bancorp shareholders, and other customary closing conditions. There is no assurance that such conditions will be met or that the proposed merger will be consummated within the expected time frame, or at all. If the transaction is consummated, factors that may cause actual outcomes to differ from what is expressed or forecasted in these forward-looking statements include, among things: difficulties and delays in integrating Hope Bancorp and Territorial Bancorp and achieving anticipated synergies, cost savings and other benefits from the transaction; higher than anticipated transaction costs; deposit attrition, operating costs, customer loss and business disruption following the merger, including difficulties in maintaining relationships with employees and customers, may be greater than expected; and required governmental approvals of the merger may not be obtained on its proposed terms and schedule, or without regulatory constraints that may limit growth. Other risks and uncertainties include, but are not limited to: possible further deterioration in economic conditions in Hope Bancorp’s areas of operation or elsewhere; 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 Hope Bancorp’s allowances for credit losses; potential increases in deposit insurance assessments and regulatory risks associated with current and future regulations; the outcome of any legal proceedings that may be instituted against Hope Bancorp; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of Hope Bancorp; and diversion of management’s attention from ongoing business operations and opportunities. For additional information concerning these and other risk factors, see Hope Bancorp’s most recent Annual Report on Form 10-K. Hope Bancorp 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:

Julianna Balicka	Angie Yang
EVP & Chief Financial Officer	SVP, Director of Investor Relations & Corporate Communications
213-235-3235	213-251-2219
julianna.balicka@bankofhope.com	angie.yang@bankofhope.com

#

(tables follow)

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands, except share data)

Assets:	3/31/2024		12/31/2023		% change		3/31/2023		% change
Cash and due from banks	$	1,185,296	$	1,928,967	(39)	%	$	2,212,637	(46)	%
Investment securities	2,277,990		2,408,971		(5)	%	2,231,989		2	%
Federal Home Loan Bank (“FHLB”) stock and other investments	61,175		61,000		—	%	59,962		2	%
Loans held for sale, at the lower of cost or fair value	2,763		3,408		(19)	%	125,268		(98)	%
Loans receivable	13,719,178		13,853,619		(1)	%	15,064,849		(9)	%
Allowance for credit losses	(158,758)		(158,694)		—	%	(163,544)		(3)	%
Net loans receivable	13,560,420		13,694,925		(1)	%	14,901,305		(9)	%
Accrued interest receivable	60,316		61,720		(2)	%	57,021		6	%
Premises and equipment, net	50,541		50,611		—	%	47,887		6	%
Goodwill and intangible assets	467,984		468,385		—	%	469,728		—	%
Other assets	421,729		453,535		(7)	%	463,087		(9)	%
Total assets	$	18,088,214	$	19,131,522	(5)	%	$	20,568,884	(12)	%
Liabilities:
Deposits	$	14,753,417	$	14,753,753	—	%	$	15,828,209	(7)	%
FHLB and Federal Reserve Bank (“FRB”) borrowings	795,634		1,795,726		(56)	%	2,130,000		(63)	%
Subordinated debentures and convertible notes, net	108,592		108,269		—	%	313,533		(65)	%
Accrued interest payable	122,467		168,174		(27)	%	53,818		128	%
Other liabilities	195,834		184,357		6	%	184,744		6	%
Total liabilities	$	15,975,944	$	17,010,279	(6)	%	$	18,510,304	(14)	%
Stockholders’ Equity:
Common stock, $0.001 par value	$	138	$	138	—	%	$	137	1	%
Additional paid-in capital	1,439,484		1,439,963		—	%	1,430,977		1	%
Retained earnings	1,159,593		1,150,547		1	%	1,106,390		5	%
Treasury stock, at cost	(264,667)		(264,667)		—	%	(264,667)		—	%
Accumulated other comprehensive loss, net	(222,278)		(204,738)		(9)	%	(214,257)		(4)	%
Total stockholders’ equity	2,112,270		2,121,243		—	%	2,058,580		3	%
Total liabilities and stockholders’ equity	$	18,088,214	$	19,131,522	(5)	%	$	20,568,884	(12)	%
Common stock shares - authorized	150,000,000		150,000,000				150,000,000
Common stock shares - outstanding	120,610,029		120,126,786				119,865,732
Treasury stock shares	17,382,835		17,382,835				17,382,835

Table Page 1

Hope Bancorp, Inc.

Selected Financial Data

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

	Three Months Ended
	3/31/2024		12/31/2023		% change		3/31/2023		% change
Interest and fees on loans	$	213,626	$	221,020	(3)	%	$	215,935	(1)	%
Interest on investment securities	18,049		18,398		(2)	%	15,125		19	%
Interest on cash and deposits at other banks	27,183		29,029		(6)	%	4,922		452%
Interest on other investments and FHLB dividends	816		777		5	%	695		17	%
Total interest income	259,674		269,224		(4)	%	236,677		10	%
Interest on deposits	124,033		121,305		2	%	92,348		34	%
Interest on borrowings	20,594		22,003		(6)	%	10,451		97	%
Total interest expense	144,627		143,308		1	%	102,799		41	%
Net interest income before provision	115,047		125,916		(9)	%	133,878		(14)	%
Provision for credit losses	2,600		2,400		8	%	3,320		(22)	%
Net interest income after provision	112,447		123,516		(9)	%	130,558		(14)	%
Service fees on deposit accounts	2,587		2,505		3	%	2,221		16	%
Net gains on sales of SBA loans	—		—		—	%	2,225		(100)	%
Other income and fees	5,699		6,775		(16)	%	6,532		(13)	%
Total noninterest income	8,286		9,280		(11)	%	10,978		(25)	%
Salaries and employee benefits	47,836		47,364		1	%	57,169		(16)	%
Occupancy	6,786		7,231		(6)	%	7,521		(10)	%
Furniture and equipment	5,340		5,302		1	%	5,058		6	%
Data processing and communications	2,990		2,976		—	%	2,822		6	%
FDIC assessment	2,926		3,141		(7)	%	1,781		64	%
FDIC special assessment	1,000		3,971		(75)	%	—		100	%
Earned interest credit	5,834		6,505		(10)	%	4,427		32	%
Restructuring costs	143		11,076		(99)	%	—		100	%
Merger related costs	1,044		—		100	%	—		100	%
Other noninterest expense	10,940		11,625		(6)	%	9,956		10	%
Total noninterest expense	84,839		99,191		(14)	%	88,734		(4)	%
Income before income taxes	35,894		33,605		7	%	52,802		(32)	%
Income tax provision	10,030		7,124		41	%	13,681		(27)	%
Net income	$	25,864	$	26,481	(2)	%	$	39,121	(34)	%
Earnings Per Common Share - Diluted	$	0.21	$	0.22			$	0.33
Weighted Average Shares Outstanding - Diluted	121,020,292		120,761,112				120,242,295

Table Page 2

Hope Bancorp, Inc.

Selected Financial Data

Unaudited

	For the Three Months Ended
Profitability measures (annualized):	3/31/2024		12/31/2023		3/31/2023
ROA	0.54	%	0.54	%	0.82	%
ROA excluding notable items (1)	0.57	%	0.78	%	0.82	%
ROE	4.87	%	5.17	%	7.65	%
ROE excluding notable items (1)	5.16	%	7.49	%	7.65	%
ROTCE (1)	6.24	%	6.71	%	9.93	%
ROTCE excluding notable items (1)	6.62	%	9.71	%	9.93	%
Net interest margin	2.55	%	2.70	%	3.02	%
Efficiency ratio (not annualized)	68.79	%	73.37	%	61.26	%
Efficiency ratio excluding notable items (not annualized) (1)	67.02	%	62.24	%	61.26	%
Noninterest expense / average assets	1.77	%	2.02	%	1.86	%
Noninterest expense / average assets, excluding notable items (1)	1.73	%	1.72	%	1.86	%
(1) ROA excluding notable items, ROE excluding notable items, ROTCE, ROTCE excluding notable items, efficiency ratio excluding notable items, and noninterest expense / average assets excluding notable items are non-GAAP financial measures. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the accompanying financial information on Table Pages 9 and 10.

Table Page 3

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands)

	Three Months Ended
	3/31/2024						12/31/2023						3/31/2023
			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	$	13,746,219	$	213,626	6.25	%	$	14,052,953	$	221,020	6.24	%	$	15,235,386	$	215,935	5.75	%
Investment securities	2,317,154		18,049		3.13	%	2,283,613		18,398		3.20	%	2,248,479		15,125		2.73	%
Interest earning cash and deposits at <br> other banks	2,019,769		27,183		5.41	%	2,142,147		29,029		5.38	%	473,344		4,922		4.22	%
FHLB stock and other investments	48,136		816		6.82	%	47,587		777		6.48	%	47,043		695		5.99	%
Total interest earning assets	$	18,131,278	$	259,674	5.76	%	$	18,526,300	$	269,224	5.77	%	$	18,004,252	$	236,677	5.33	%
INTEREST BEARING LIABILITIES:
Deposits:
Money market, interest bearing demand and <br> savings	$	5,072,782	$	50,145	3.98	%	$	4,821,222	$	45,662	3.76	%	$	5,597,251	$	42,226	3.06	%
Time deposits	5,985,501		73,888		4.96	%	6,327,191		75,643		4.74	%	5,543,369		50,122		3.67	%
Total interest bearing deposits	11,058,283		124,033		4.51	%	11,148,413		121,305		4.32	%	11,140,620		92,348		3.36	%
FHLB and FRB borrowings	1,683,334		17,853		4.27	%	1,795,740		19,224		4.25	%	676,444		6,698		4.02	%
Subordinated debentures and convertible<br> notes	104,493		2,741		10.38	%	104,198		2,779		10.44	%	319,905		3,753		4.69	%
Total interest bearing liabilities	$	12,846,110	$	144,627	4.53	%	$	13,048,351	$	143,308	4.36	%	$	12,136,969	$	102,799	3.44	%
Noninterest bearing demand deposits	3,803,870						4,113,680						4,662,081
Total funding liabilities/cost of funds	$	16,649,980			3.49	%	$	17,162,031			3.31	%	$	16,799,050			2.48	%
Net interest income/net interest spread			$	115,047	1.23	%			$	125,916	1.41	%			$	133,878	1.89	%
Net interest margin					2.55	%					2.70	%					3.02	%
Cost of deposits:
Noninterest bearing demand deposits	$	3,803,870	$	—	—	%	$	4,113,680	$	—	—	%	$	4,662,081	$	—	—	%
Interest bearing deposits	11,058,283		124,033		4.51	%	11,148,413		121,305		4.32	%	11,140,620		92,348		3.36	%
Total deposits	$	14,862,153	$	124,033	3.36	%	$	15,262,093	$	121,305	3.15	%	$	15,802,701	$	92,348	2.37	%

Table Page 4

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands)

	Three Months Ended
AVERAGE BALANCES:	3/31/2024		12/31/2023		% change		3/31/2023		% change
Loans, including loans held for sale	$	13,746,219	$	14,052,953	(2)	%	$	15,235,386	(10)	%
Investment securities	2,317,154		2,283,613		1	%	2,248,479		3	%
Interest earning cash and deposits at other banks	2,019,769		2,142,147		(6)	%	473,344		327	%
Interest earning assets	18,131,278		18,526,300		(2)	%	18,004,252		1	%
Goodwill and intangible assets	468,229		468,622		—	%	469,992		—	%
Total assets	19,140,775		19,600,942		(2)	%	19,087,170		—	%
Noninterest bearing demand deposits	3,803,870		4,113,680		(8)	%	4,662,081		(18)	%
Interest bearing deposits	11,058,283		11,148,413		(1)	%	11,140,620		(1)	%
Total deposits	14,862,153		15,262,093		(3)	%	15,802,701		(6)	%
Interest bearing liabilities	12,846,110		13,048,351		(2)	%	12,136,969		6	%
Stockholders’ equity	2,126,333		2,048,335		4	%	2,046,159		4	%
LOAN PORTFOLIO COMPOSITION:	3/31/2024		12/31/2023		% change		3/31/2023		% change
Commercial real estate (“CRE”) loans	$	8,707,673	$	8,797,884	(1)	%	$	9,373,529	(7)	%
Commercial and industrial (“C&I”) loans	4,041,063		4,135,044		(2)	%	4,821,270		(16)	%
Residential mortgage and other loans	970,442		920,691		5	%	870,050		12	%
Loans receivable	13,719,178		13,853,619		(1)	%	15,064,849		(9)	%
Allowance for credit losses	(158,758)		(158,694)		—	%	(163,544)		(3)	%
Loans receivable, net	$	13,560,420	$	13,694,925	(1)	%	$	14,901,305	(9)	%
CRE LOANS BY PROPERTY TYPE:	3/31/2024		12/31/2023		% change		3/31/2023		% change
Multi-tenant retail	$	1,666,153	$	1,704,337	(2)	%	$	1,817,874	(8)	%
Industrial warehouses	1,221,852		1,226,780		—	%	1,309,763		(7)	%
Multifamily	1,212,941		1,226,384		(1)	%	1,302,597		(7)	%
Gas stations and car washes	1,013,708		1,030,888		(2)	%	1,046,528		(3)	%
Mixed-use facilities	861,613		870,664		(1)	%	818,227		5	%
Hotels/motels	786,198		796,267		(1)	%	900,990		(13)	%
Single-tenant retail	667,898		662,705		1	%	706,593		(5)	%
Office	401,392		401,821		—	%	464,703		(14)	%
All other	875,918		878,038		—	%	1,006,254		(13)	%
Total CRE loans	$	8,707,673	$	8,797,884	(1)	%	$	9,373,529	(7)	%
DEPOSIT COMPOSITION:	3/31/2024		12/31/2023		% change		3/31/2023		% change
Noninterest bearing demand deposits	$	3,652,592	$	3,914,967	(7)	%	$	4,504,621	(19)	%
Money market, interest bearing demand, and savings	5,313,064		4,872,029		9	%	4,563,702		16	%
Time deposits	5,787,761		5,966,757		(3)	%	6,759,886		(14)	%
Total deposits	$	14,753,417	$	14,753,753	—	%	$	15,828,209	(7)	%

Table Page 5

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands, except per share data)

CAPITAL & CAPITAL RATIOS:	3/31/2024			12/31/2023			3/31/2023
Total stockholders’ equity	$	2,112,270		$	2,121,243		$	2,058,580
Total capital	$	2,130,033		$	2,120,157		$	2,068,433
Common equity tier 1 ratio	12.47		%	12.28		%	10.75		%
Tier 1 capital ratio	13.17		%	12.96		%	11.36		%
Total capital ratio	14.19		%	13.92		%	12.25		%
Leverage ratio	10.42		%	10.11		%	10.13		%
Total risk weighted assets	$	15,011,661		$	15,230,302		$	16,886,419
Book value per common share	$	17.51		$	17.66		$	17.17
TCE per share (1)	$	13.63		$	13.76		$	13.26
TCE ratio (1)	9.33		%	8.86		%	7.91		%
(1) TCE per share and TCE ratio are non-GAAP financial measures. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the accompanying financial information on Table Page 9.
	Three Months Ended
ALLOWANCE FOR CREDIT LOSSES CHANGES:	3/31/2024			12/31/2023			9/30/2023			6/30/2023		3/31/2023
Balance at beginning of period	$	158,694		$	158,809		$	172,996		$	163,544	$	162,359
ASU 2022-02 day 1 adoption impact	—			—			—			—		(407)
Provision for credit loss on loans	3,600			1,700			16,800			8,900		1,700
Recoveries	1,184			306			2,938			1,531		387
Charge offs	(4,720)			(2,121)			(33,925)			(979)		(495)
Balance at end of period	$	158,758		$	158,694		$	158,809		$	172,996	$	163,544
	3/31/2024			12/31/2023			9/30/2023			6/30/2023		3/31/2023
Allowance for unfunded loan commitments	$	2,843		$	3,843		$	3,143		$	3,081	$	2,971
	Three Months Ended
	3/31/2024			12/31/2023			9/30/2023			6/30/2023		3/31/2023
Provision for credit loss on loans	$	3,600		$	1,700		$	16,800		$	8,900	$	1,700
Provision for unfunded loan commitments	(1,000)			700			62			110		1,620
Provision for credit losses	$	2,600		$	2,400		$	16,862		$	9,010	$	3,320

Table Page 6

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands)

	Three Months Ended
NET LOAN CHARGE OFFS (RECOVERIES):	3/31/2024			12/31/2023			9/30/2023			6/30/2023			3/31/2023
CRE loans	$	(497)		$	1,560		$	(2,227)		$	438		$	(109)
C&I loans	4,072			138			33,145			(1,091)			196
Residential mortgage and other loans	(39)			117			69			101			21
Net loan charge offs (recoveries)	$	3,536		$	1,815		$	30,987		$	(552)		$	108
Net charge offs (recoveries)/average loans receivable (annualized)	0.10		%	0.05		%	0.85		%	(0.01)		%	—		%
NONPERFORMING ASSETS:			12/31/2023			9/30/2023			6/30/2023			3/31/2023
---	---	---	---	---	---	---	---	---	---	---	---	---	---	---
Loans on nonaccrual status (1)	59,526		$	45,204		$	39,081		$	61,252		$	78,861
Accruing delinquent loans past due 90 days or more			261			21,579			15,182			364
Total nonperforming loans			45,465			60,660			76,434			79,225
Other real estate owned (“OREO”)			63			1,043			938			938
Total nonperforming assets	106,816		$	45,528		$	61,703		$	77,372		$	80,163
Nonperforming assets/total assets		%	0.24		%	0.31		%	0.38		%	0.39		%
Nonperforming assets/loans receivable & OREO		%	0.33		%	0.43		%	0.52		%	0.53		%
Nonperforming assets/total capital		%	2.15		%	3.04		%	3.74		%	3.89		%
Nonperforming loans/loans receivable		%	0.33		%	0.42		%	0.51		%	0.53		%
Nonaccrual loans/loans receivable		%	0.33		%	0.27		%	0.41		%	0.52		%
Allowance for credit losses/loans receivable		%	1.15		%	1.11		%	1.16		%	1.09		%
Allowance for credit losses/nonperforming loans		%	349.05		%	261.80		%	226.33		%	206.43		%
(1) Excludes delinquent SBA loans that are guaranteed and currently in liquidation totaling 10.9 million, 11.4 million, 12.1 million, 11.9 million, and 7.6 million, at March 31, 2024, December 31, 2023, September 30, 2023, June 30, 2023, and March 31, 2023, respectively.
NONACCRUAL LOANS BY TYPE:			12/31/2023			9/30/2023			6/30/2023			3/31/2023
CRE loans	37,835		$	33,932		$	26,687		$	29,270		$	44,376
C&I loans			5,013			4,234			23,042			26,191
Residential mortgage and other loans			6,259			8,160			8,940			8,294
Total nonaccrual loans	59,526		$	45,204		$	39,081		$	61,252		$	78,861

All values are in US Dollars.

Table Page 7

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands)

ACCRUING DELINQUENT LOANS 30-89 DAYS PAST DUE:	3/31/2024		12/31/2023		9/30/2023		6/30/2023		3/31/2023
30 - 59 days past due	$	2,273	$	2,833	$	2,906	$	9,295	$	7,662
60 - 89 days past due	313		1,289		506		178		249
Total accruing delinquent loans 30-89 days past due	$	2,586	$	4,122	$	3,412	$	9,473	$	7,911
ACCRUING DELINQUENT LOANS 30-89 DAYS PAST DUE BY TYPE:	3/31/2024		12/31/2023		9/30/2023		6/30/2023		3/31/2023
CRE loans	$	1,639	$	2,160	$	611	$	7,339	$	3,652
C&I loans	551		1,643		1,168		990		419
Residential mortgage and other loans	396		319		1,633		1,144		3,840
Total accruing delinquent loans 30-89 days past due	$	2,586	$	4,122	$	3,412	$	9,473	$	7,911
CRITICIZED LOANS:	3/31/2024		12/31/2023		9/30/2023		6/30/2023		3/31/2023
Special mention loans	$	215,183	$	178,992	$	186,600	$	210,806	$	166,472
Substandard loans	206,350		143,449		174,161		134,203		138,224
Total criticized loans	$	421,533	$	322,441	$	360,761	$	345,009	$	304,696

Table Page 8

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. Reconciliations of the most directly comparable GAAP to non-GAAP financial measures utilized by management are provided below.
	Three Months Ended
RETURN ON AVERAGE TANGIBLE COMMON EQUITY	3/31/2024			12/31/2023			3/31/2023
Average stockholders’ equity	$	2,126,333		$	2,048,335		$	2,046,159
Less: Average goodwill and core deposit intangible assets, net	(468,229)			(468,622)			(469,992)
Average TCE	$	1,658,104		$	1,579,713		$	1,576,167
Net income	$	25,864		$	26,481		$	39,121
ROTCE (annualized)	6.24		%	6.71		%	9.93		%
TANGIBLE COMMON EQUITY	3/31/2024			12/31/2023			3/31/2023
Total stockholders’ equity	$	2,112,270		$	2,121,243		$	2,058,580
Less: Goodwill and core deposit intangible assets, net	(467,984)			(468,385)			(469,728)
TCE	$	1,644,286		$	1,652,858		$	1,588,852
Total assets	$	18,088,214		$	19,131,522		$	20,568,884
Less: Goodwill and core deposit intangible assets, net	(467,984)			(468,385)			(469,728)
Tangible assets	$	17,620,230		$	18,663,137		$	20,099,156
TCE ratio	9.33		%	8.86		%	7.91		%
Common shares outstanding	120,610,029			120,126,786			119,865,732
TCE per share	$	13.63		$	13.76		$	13.26

Table Page 9

Hope Bancorp, Inc.

Selected Financial Data

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

	Three Months Ended
PROFITABILITY RATIOS EXCLUDING NOTABLE ITEMS	3/31/2024			12/31/2023			3/31/2023
Net income	$	25,864		$	26,481		$	39,121
Notable items:
FDIC special assessment expense	1,000			3,971			—
Restructuring costs	143			11,076			—
Merger related costs	1,044			—			—
Total notable items	2,187			15,047			—
Tax provision	611			3,190			—
Less: total notable items, net of tax provision	$	1,576		$	11,857		$	—
Net income excluding notable items	$	27,440		$	38,338		$	39,121
Diluted common shares	121,020,292			120,761,112			120,242,295
EPS excluding notable items	$	0.23		$	0.32		$	0.33
Average Assets	19,140,775			19,600,942			19,087,170
ROA excluding notable items	0.57		%	0.78		%	0.82		%
Average Equity	2,126,333			2,048,335			2,046,159
ROE excluding notable items	5.16		%	7.49		%	7.65		%
Average TCE	$	1,658,104		$	1,579,713		$	1,576,167
ROTCE excluding notable items	6.62		%	9.71		%	9.93		%
	Three Months Ended
EFFICIENCY RATIOS EXCLUDING NOTABLE ITEMS	3/31/2024			12/31/2023			3/31/2023
Noninterest expense	$	84,839		$	99,191		$	88,734
Less: notable items:
FDIC special assessment expense	(1,000)			(3,971)			—
Restructuring costs	(143)			(11,076)			—
Merger related costs	(1,044)			—			—
Noninterest expense excluding notable items	$	82,652		$	84,144		$	88,734
Revenue	$	123,333		$	135,196		$	144,856
Efficiency ratio excluding notable items	67.02		%	62.24		%	61.26		%
Average assets	19,140,775			19,600,942			19,087,170
Noninterest expense / average assets, excluding notable items	1.73		%	1.72		%	1.86		%

Table Page 10

hopeq12024ccdeck-final20

2024 First Quarter Earnings Conference Call April 29, 2024

Forward Looking Statements & Additional Disclosures This presentation contains statements regarding future events or the future financial performance of Hope Bancorp, Inc. (“Company”) and its proposed merger with Territorial Bancorp Inc. (“Territorial”) 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, low-cost core deposit base, diversification of the loan portfolio, expansion of market share, percentage earnings per share growth, capital to support growth, and statements about the proposed transaction being immediately accretive. Additionally, the forward-looking statements also relate to, among other things, expectations regarding the business and economic environment in which we operate, projections of future performance and financial outlook, perceived opportunities in the market, and statements regarding our business strategies, objectives and vision and statements regarding our strategic reorganization. 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,” “targets,” or similar expressions. With respect to any such forward-looking statements, the Company and Territorial each 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. Upon completion of the merger, the combined 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 closing of the proposed transaction is subject to regulatory approvals, the approval of the shareholders of Territorial, and other customary closing conditions. There is no assurance that such conditions will be met or that the proposed merger will be consummated within the expected time frame, or at all. If the transaction is consummated, factors that may cause actual outcomes to differ from what is expressed or forecasted in these forward-looking statements include, among things: difficulties and delays in integrating the Company and Territorial and achieving anticipated synergies, cost savings and other benefits from the transaction; higher than anticipated transaction costs; deposit attrition, operating costs, customer loss and business disruption following the merger, including difficulties in maintaining relationships with employees and customers, may be greater than expected; and required governmental approvals of the merger may not be obtained on its proposed terms and schedule, or without regulatory constraints that may limit growth. Other risks and uncertainties include, but are not limited to: possible further 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, and regulatory risks associated with current and future regulations. 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. Additional Information and Where to Find It In connection with the proposed merger, Hope Bancorp, Inc. will file with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4, which will include a Proxy Statement of Territorial Bancorp Inc., that also constitutes a prospectus of Hope Bancorp, Inc. Territorial Bancorp shareholders are encouraged to read the Registration Statement and the Proxy Statement/Prospectus regarding the merger when it becomes available and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information about the proposed merger. Territorial Bancorp shareholders will be able to obtain a free copy of the Proxy Statement/Prospectus, as well as other filings containing information about Hope Bancorp and Territorial Bancorp at the SEC’s Internet site (www.sec.gov). Territorial Bancorp shareholders will also be able to obtain these documents, free of charge, from Territorial Bancorp at https://www.tsbhawaii.bank/tsb/investor-relations/. 2

Strong Capital & Liquidity • Total capital ratio was 14.19% at 3/31/24, +27bps QoQ. All regulatory capital ratios expanded QoQ • Tangible common equity (“TCE”) ratio(1) was 9.33% at 3/31/24, +47bps QoQ • Announced signing of definitive merger agreement with Territorial Bancorp Inc. (Nasdaq: TBNK) on 4/29/24 Deposits • Deposits of $14.8B at 3/31/24, stable QoQ • All business lines exceeded deposit growth targets for 1Q24 • Growth in customer deposits offset a planned reduction of brokered time deposits (-$183MM QoQ) Loans • Loans receivable of $13.7B at 3/31/24 (-1% QoQ) • Growth in SBA and residential mortgage, decrease in commercial and CRE loans • Gross loan-to-deposit ratio of 93% at 3/31/24 Asset Quality • 1Q24 net charge offs of $3.5MM, equivalent to 0.10% of average loans annualized Earnings • 1Q24 net income: $25.9MM (-2% QoQ), or $0.21 per diluted share • 1Q24 net income excl. notable items1: $27.4MM, or $0.231 per diluted share • 1Q24 notable items: merger-related expenses ($752K after tax), FDIC special assessment ($721K after tax) and restructuring-related charges ($103K after tax) Q1 2024 Financial Overview Total Capital & TCE Ratio at 3/31/24 14.19% / 9.33% NPA/Total Assets at 3/31/24 0.59% Gross Loans at 3/31/24 $13.7B Total Deposits at 3/31/24 $14.8B 3 1Q24 Net Income & EPS $25.9MM / $0.21 Excl. notable items $27.4MM / $0.23 (1) TCE ratio, net income excluding notable items and earnings per share excluding notable items are non-GAAP financial measures. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the Appendix of this presentation.

Territorial Bancorp (TBNK) Pending Merger Highlights Nasdaq: HOPE Nasdaq: TBNK ▪ Creates the largest U.S. regional bank catering to multi-ethnic customers across the continental United States and the Hawaiian Islands ▪ TBNK bolsters Combined Company’s core funding base with $1.6 billion in low-cost deposits as of 12/31/23 ▪ Accelerates diversification of Combined Company’s loan portfolio by more than doubling HOPE’s residential mortgage balances ▪ Market share growth opportunities by leveraging larger balance sheet, more resources, enhanced technology and broader array of banking products & services for enhanced customer experience Strategically Compelling ▪ Merger consideration of $78.6 million, or $8.82 per TBNK share(1) ▪ Fixed exchange ratio: 0.8048 HOPE shares per TBNK share in an all-stock transaction ▪ Expected to be immediately accretive after the close with double-digit percentage EPS growth. Targeting deal close by year-end 2024 ▪ Strong capital to support growth of the Combined Company Financially Attractive ▪ Shared corporate values that preserve and build on TBNK’s 100+ year legacy of providing personalized customer service and supporting local communities ▪ To ensure continuity for customers and employees after the close, legacy TBNK will do business under the Territorial Savings Bank brand, as a trade name of Bank of Hope ▪ Continued dedication to and investment in the Hawai‘i communities Culturally Aligned (1) Based on HOPE closing price of $10.96 as of 4/26/24 4

ref Strong Capital Ratios 5 Common Equity Tier 1 Capital Ratio • All capital ratios increased QoQ: All regulatory capital ratios meaningfully above requirements for “well-capitalized” financial institutions • Pro Forma capital very strong: Adjustments for the allowance for credit losses (“ACL”) and hypothetical adjustments for investment security marks not otherwise already reflected in equity, still result in very strong capital ratios • Dividend: Quarterly common stock dividend of $0.14 per share, equivalent to $0.56 per share annualized. Equivalent to a dividend yield of 4.87% at 3/31/24 • No stock buybacks during 1Q24 • Equity: Book value per common share of $17.51 & TCE per share1 of $13.63 at 3/31/24. Equity stable QoQ, reflecting growth in retained earnings offset by a negative change in accumulated other comprehensive income (“AOCI”). Tangible Common Equity Ratio(1) Total Capital Ratio Leverage Ratio Well Capitalized 6.50% Well Capitalized 10.00% Well Capitalized 5.00% (1) TCE ratio and TCE per share are non-GAAP financial measures. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the Appendix of this presentation. * Pro Forma ratios at 3/31/24 are non-GAAP financial measures and reflect (a) inclusion of on- and off-balance sheet ACL not already in capital; (b) treatment of held-to-maturity (“HTM”) securities as if they were available- for-sale (“AFS”), with unrealized losses in AOCI; and (c) removal of the AOCI opt-out in calculating regulatory capital.

Diverse & Granular Deposit Base 6 Noninterest Bearing Demand Deposits 25% Money Market, Interest Bearing Demand & Savings 36% Time Deposits 39% $14.8B Total Deposits (at 3/31/24) Consumer 38% Commercial & Wholesale 62% • Average commercial & wholesale deposit account size: approx. $265,000 • Average consumer deposit account size: approx. $50,000 • Total deposits of $14.8B at 3/31/24, stable QoQ • Customer deposit growth across all business lines offset planned reduction of brokered time deposits Deposit Composition by Product Type Deposit Composition by Customer Type $14.8B Total Deposits (at 3/31/24)

Well-Balanced Loan Portfolio 7 • Loan portfolio well-diversified across major loan types of nonowner- occupied CRE, C&I, owner-occupied CRE, multifamily residential (“MFR”), and residential mortgage • Total loans receivable: $13.7B at 3/31/24, -1% QoQ • 1Q24: growth in SBA and residential mortgage loans, offset by decreases in commercial and CRE loans Nonowner- Occupied CRE 34% Owner-Occupied CRE 21% C&I 29% Residential Mortgage & Other 7% Multifamily Residential 9% $13.7B Loans Receivable (at 3/31/24) $0.9B Avg Size: $0.6MM $4.6B Avg Size: $2.3MM $2.9B Avg Size: $1.5MM $4.1B Avg Size: $1.5MM $1.2B Avg Size: $2.3MM

As a % of Total Loans: Avg Loan Size: Weighted Avg LTV(1): 12% Multi-tenant Retail $1,666MM $2.3MM 43.1% 9% Industrial & Warehouse $1,222MM $2.3MM 41.0% 9% Multifamily $1,213MM $2.3MM 58.6% 7% Gas Station & Car Wash $1,014MM $1.7MM 48.2% 6% Mixed Use $862MM $2.0MM 42.1% 6% Hotel/Motel $786MM $2.1MM 45.5% 5% Single-tenant Retail $668MM $1.4MM 47.1% 3% Office $401MM $2.1MM 51.9% 7% All Other $876MM $1.5MM 37.5% Diversified CRE Portfolio with Low LTVs Total CRE: Distribution by LTV (excl. SBA) < 50%: 56% > 50% - 55%: 13% > 55% - 60%: 11% > 60% - 65%: 7% > 65% - 70%: 5% > 70%: 8%$8.7B CRE Portfolio (at 3/31/24) 46% Weighted Avg LTV(1) (1) Weighted average loan-to-value (“LTV”): Current loan balance divided by updated collateral value. Collateral value updates most recent available appraisal by using CoStar market and property-specific data, including submarket appreciation or depreciation, and changes to vacancy, debt service coverage or rent/sq foot. • Total CRE loans of $8.7B at 3/31/24, -1% QoQ. Portfolio consists of $4.6B of nonowner-occupied CRE, $2.9B of owner-occupied CRE, and $1.2B of MFR • CRE Office: Represented less than 3% of total loans at 3/31/24, with no central business district exposure 8 $8.7B CRE Portfolio (at 3/31/24)

LA Fashion District Gateway Cities San Gabriel Valley South Bay LA Koreatown Other LA County (No exposure to downtown commercial business district) Orange County San Bernardino County Riverside County Other SoCal San Francisco, $40 Greater SF Bay Area Other NorCal Manhattan Queens County Kings County Other New York New Jersey Texas Washington Illinois Other States Granular CRE Portfolio, Diversified by Submarket 9 CRE Portfolio by Geographic Submarket ($ Millions) Loan Size (at 3/31/24) Balance ($ Millions) # of Loans Average Loan Size ($ Millions) Weighted Average LTV(1) > $30MM $ 290 7 $ 41.5 62.5% $20MM - $30MM $ 637 26 $ 24.5 43.1% $10MM - $20MM $ 1,230 89 $ 13.8 48.5% $5MM - $10MM $ 1,682 249 $ 6.8 48.6% $2MM - $5MM $ 2,508 809 $ 3.1 46.0% < $2MM $ 2,361 3,250 $ 0.7 40.8% Total CRE Portfolio $ 8,708 4,430 $ 2.0 45.9% • Loan-to-value ratios are consistently low across segments by size and by property type • Vast majority of CRE loans have full recourse and personal guarantees • 98.2% of total CRE portfolio was pass-graded at 3/31/24 CRE Portfolio by Size Segment (1) Weighted average LTV: Current loan balance divided by updated collateral value. Collateral value updates most recent available appraisal by using CoStar market and property-specific data, including submarket appreciation or depreciation, and changes to vacancy, debt service coverage or rent/sq foot. $8.7B CRE Portfolio (at 3/31/24) SoCal NorCal NY/NJ Texas Washington Illinois Other States $319

Net Interest Income & Net Interest Margin 10 • 1Q24 net interest income (“NII”) of $115MM, -9% QoQ from 4Q23 • Paid off $1.0B Bank Term Funding Program (“BTFP”) funding at end of 1Q24, using interest-earning cash. Paid off remaining $695MM in early April, using interest-earning cash. NII from positive spread earned on BTFP: $3.6MM in 1Q24, $4.0MM in 4Q23 • All else equal, the payoff of the BTFP is expected to be a positive to NIM Net Interest Income & Net Interest Margin ($ Millions) $134 $131 $135 $126 $115 3.02% 2.70% 2.83% 2.70% 2.55% 1Q23 2Q23 3Q23 4Q23 1Q24 2.55% 2.70% Decrease in avg IB deposits +2bps 1Q24 NIM change: -15bps QoQ Net Interest Income Net Interest Margin (annualized) Increase Decrease Total QoQ change +4% -7% -9% -2% QoQ Change in Net Interest Margin 4Q23 1Q24 -6bps • 1Q24 net interest margin (“NIM”) of 2.55%, -15bps QoQ • QoQ decrease in NIM driven by a higher cost of IB deposits and a lower volume of loans and interest earning cash, partially offset by positive impact from a lower volume of interest bearing funding and a higher loan yield Decrease in avg interest earning cash +2bps Increase in cost of IB deposits Decrease in avg balance of borrowings -12bps+1bps Decrease in avg loans Loan yield expansion -2bps

2.37% 2.79% 2.98% 3.15% 3.36%3.36% 3.87% 4.10% 4.32% 4.51% 4.69% 5.16% 5.43% 5.50% 5.50% 1Q23 2Q23 3Q23 4Q23 1Q24 Total COD (annualized) Cost of IB Deposits (annualized) Avg Fed Funds Rate Average Loans & Deposits, Yields & Rates 11 Average Deposits Average Loans Receivable ($ Billions) ($ Billions) $15.2 $15.1 $14.6 $14.1 $13.7 12.25 12.75 13.25 13.75 14.25 14.75 15.25 15.75 1Q23 2Q23 3Q23 4Q23 1Q24 11.1 11.4 11.4 11.1 11.1 4.7 4.4 4.3 4.1 3.8 1Q23 2Q23 3Q23 4Q23 1Q24 Avg Interest Bearing ("IB") Deposits Avg Non IB Deposits 5.75% 5.99% 6.27% 6.24% 6.25% 4.69% 5.16% 5.43% 5.50% 5.50% 1Q23 2Q23 3Q23 4Q23 1Q24 Avg Loan Yield (annualized) Avg Fed Funds Rate Average Loan-to-Deposit Ratio 96% 96% 93% 92% 93% Average Cost of Deposits (“COD”) Relative to Fed Funds Rate Average Loan Yield Relative to Fed Funds Rate $15.8 $14.9$15.3$15.7$15.8

2.2 2.3 2.4 2.5 2.6 2.2 1.9 6.6 7.0 5.9 6.8 5.7 5.8 1Q23 2Q23 3Q23 4Q23 1Q24 Gain from Investment in Affordable Housing Partnership Other Income & Fees Net Gains on SBA Loan Sales Service Fees on Deposit Accounts Noninterest Income 12 Noninterest Income ($ Millions) $17.0 $8.3 $9.3 $8.3 $11.0 • 1Q23 noninterest income of $8MM vs. $9MM in 4Q23 – QoQ growth in deposit service fees offset by a decrease in other noninterest income • No SBA loan gain on sales (“GOS”) in 1Q24: continuously evaluating premiums available in the secondary market – Secondary market premiums have improved by April 2024 compared with beginning of year

Efficiency Ratio(3) Noninterest Expense/Avg Assets (annualized)(3) (excl. notable items) (excl. notable items) 57.2 52.3 51.0 47.4 47.8 12.6 12.4 12.8 12.5 12.1 1.8 4.7 3.7 3.1 2.9 17.1 17.8 18.8 21.1 19.9 1Q23 2Q23 3Q23 4Q23 1Q24 Salary & Employee Benefits Occupancy & FF&E FDIC Assessment Other Expenses Efficiency Ratio & Noninterest Expense to Average Assets 61.3% 59.1% 60.4% 73.4% 68.8% 1.86% 1.70% 1.73% 2.02% 1.77% 1Q23 2Q23 3Q23 4Q23 1Q24 Efficiency Ratio Noninterest Expense/Avg Assets (annualized) Noninterest Expense & Efficiency 13 $87.2 $86.3(2) $84.1(2) $82.7(2) $88.7 Noninterest Expense(1) (excl. notable items) ($ Millions) • 1Q24 GAAP noninterest expense of $85MM – Notable items (pre-tax): $1MM merger-related expenses, $1MM incremental FDIC special assessment & $143K restructuring-related costs • Excluding notable items, 1Q24 noninterest expense of $83MM(2) down 2% QoQ and down 7% YoY, reflecting benefits from 4Q23 restructuring • Salaries & employee benefits expense increased +1% QoQ, due to seasonal factors, and are down 16% YoY, largely reflecting benefits from restructuring (1) The Noninterest expense chart columns present noninterest expense excluding notable items. Noninterest expense excludes provision for unfunded loan commitments, which has been reclassified to the provision for credit losses. (2) Noninterest expense excluding notable items totaled $82.7MM in 1Q24, $84.1MM for 4Q23 and $86.3MM for 3Q23. (3) Noninterest expense excluding notable items, efficiency ratio excluding notable items and noninterest expense/average assets (annualized) excluding notable items are non-GAAP financial measures. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the Appendix of this presentation. 62.2%(3) 1.72%3 GAAP Noninterest Expense $86.8 $99.2 $84.8 67.0%(3) 1.73%3

$164 $173 $159 $159 $159 1.09% 1.16% 1.11% 1.15% 1.16% 1Q23 2Q23 3Q23 4Q23 1Q24 ACL ACL Coverage Ratio • Allowance for credit losses (“ACL”) stable QoQ at $159MM at 3/31/24. • ACL coverage ratio: 1.16% of loans receivable at 3/31/24, +1bps from 1.15% at 12/31/23 and +7bps from 12/31/23 • Net charge offs (“NCO”) ratio: 10bps of average loans, annualized, in 1Q24 • Nonperforming assets (“NPA”) of $107MM at 3/31/24, vs. $46MM at 12/31/23 or $80MM at 3/31/23 – Increase largely driven by one relationship consisting of three CRE loans. Exposure fully secured with sales agreements in place for the collateral properties Asset Quality Metrics 14 Provision for Credit Losses & Net Charge Offs (Recoveries) Nonperforming Assets RatioAllowance for Credit Losses & Coverage Ratio Criticized Loans Ratio $3.3 $9.0 $16.9 $2.4 $2.6$0.1 ($0.6) 31.0 $1.8 $3.5 0.00% (0.01)% 0.85% 0.05% 0.10% 1Q23 2Q23 3Q23 4Q23 1Q24 Provision for Credit Losses NCO (Recoveries) NCO (Recovery) Ratio (annualized) 2.02% 2.32% 2.52% 2.33% 3.07% 1Q23 2Q23 3Q23 4Q23 1Q24 Total Criticized Loans as a % of Total Loans ($ Millions) ($ Millions) 0.39% 0.38% 0.31% 0.24% 0.59% 1Q23 2Q23 3Q23 4Q23 1Q24 NPAs/Total Assets

Management’s Updated Financial Outlook for 4Q24* vs. 4Q23 15 4Q23 actual ($ Millions) Prior Outlook as of 1/30/24 Updated Outlook for 4Q24 * vs. 4Q23 actual Comments Average Loans $ 14,053 Low single-digit % growth Unchanged ▪ Reorganized frontline pivoting to growth ▪ Expecting payoffs to moderate in 2024 ▪ Anticipating loan growth to be weighted toward 2H 2024 ▪ Expecting to maintain avg. gross loan-to-deposit ratio below 95% Net Interest Income $ 126 Low single-digit % decline ▪ Five Fed Funds rate cuts & Fed Funds upper target rate of 4.25% by 12/31/24 5-7% decline ▪ One 25-bps Fed Funds rate cut in Sep. 2024 & Fed Funds upper target rate of 5.25% by 12/31/24 ▪ Rate assumptions based on current implied forward interest rate curve ▪ Paid off $1.0B BTFP at end of March & remaining $695MM in early April with interest-earning cash ▪ NII from spread earned on BTFP: $3.6MM in 1Q24 and $4.0MM in 4Q23 SBA Loan Gain on Sale $ ̶ (no sales) Return to SBA sales when market conditions warrant Likely to resume SBA loan sale activity with a small volume in 2Q24 ▪ Secondary market premiums improved in April 2024 vs. beginning of year ▪ Expect ongoing sales based on market conditions & premiums Noninterest Expense (1) (excluding notable items) $ 85 >5% decrease Unchanged ▪ Benefits from reorganization and process improvements ACL Coverage 1.15% Stable ACL coverage Unchanged ▪ Based on current economic outlook, expecting essentially stable ACL coverage: 1.16% @ 3/31/24 & 1.15% @ 12/31/23 Operating Leverage Expecting to generate positive operating leverage between 4Q24 and 4Q23: Decrease in expenses + gains on sale of SBA loans more than offset pressure from net interest income * Outlook excludes impact of pending merger with Territorial Bancorp (TBNK), announced on 4/29/24, which expected to close by year-end 2024. * The updated Financial Outlook for 4Q24 is presented as of April 29, 2024, reflects the Company’s financial outlook for 4Q24 vs. actual results in 4Q23, and will not be updated or affirmed unless and until the Company publicly announces such update or affirmation. The Company’s financial outlook for 4Q24 is dependent on macroeconomic factors, including, but limited to, changes to market interest rates, and reflects expectations as of the date of this presentation. The Financial Outlook for 4Q24 contains forward-looking statements and actual results or conditions may differ materially and adversely from those included in the Financial Outlook for 4Q24. Please refer to the “forward-looking statements” on Slide 2 of this presentation. (1) Noninterest expense excluding notable items is a non-GAAP financial measure. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the Appendix of this presentation.

Q&A 2024 First Quarter Earnings Conference Call 16

Appendix 17

Strategic Reorganization 18 Realignment Around Lines of Business and Products, to Better Serve Client Base & Run Bank More Efficiently RETAIL BANKING COMMERCIAL BANKING CORPORATE & INSTITUTIONAL BANKING FEE-BASED BUSINESS GROUP Consolidation under one leader to foster consistency of client experience, standardize processes, and improve efficiency Separated from commercial banking to oversee all retail banking activities, mortgage, branch network Expansion and deepening of total banking relationships and corporate deposit opportunities Partner with all Business Groups to drive growth in operating deposit accounts, accelerate fee-based revenue, and expand customer wallet share Focus: treasury management solutions, FX and interest rate risk management Focus: middle-market, corporate & institutional banking, specialized industries Focus: Korean subsidiary, traditional commercial, business banking, SBA and CRE Focus: consumer deposits, residential mortgage, and community investment Four Distinct Business Groups: ▪ Consistency in delivery of excellent client service ▪ Empowered deposit growth engines and enhanced revenue generation ▪ More efficient allocation of resources and minimized redundancies ▪ Sustainably expanded profitability Benefits Sustainably Improved Profitability & Growth ▪ Optimized production capacity ▪ Reduced workforce ▪ Branch rationalization ▪ Wind down of non-core businesses ▪ Streamlined back-office operations & operational process improvements Actions

High single-digit % growth Targeting balanced growth across all business lines in normalized operating environment Planning to maintain loan-to- deposit ratio <95% Loan Growth >10% • Targeting medium-term annual revenue growth > loan growth • Accelerated fee income growth • Expanding net interest margin due to improved funding mix & interest rate changes implied by the current forward rate curve Revenue Growth <50% Targeting efficiency ratio improvement driven by revenue growth, expense management discipline, and operational process improvement Efficiency Ratio >1.2% Targeting attractive levels of returns driven by improved profitability Return on Avg Assets Medium-Term Targets* 19 Anticipated positive impact from strategic reorganization expected to drive operational efficiencies and greater returns in the medium term. * The Medium-Term Targets reflect the Company’s current projections for 2026 and beyond. The Company’s Medium-Term Targets are presented as of April 29, 2024, reflect the Company’s current outlook for 2026 and beyond, and will not be updated or affirmed unless and until the Company publicly announces such update or affirmation. Macroeconomic assumptions underpinning the Company’s Medium-Term Targets reflect the current forward interest rate curve and assumes ongoing positive economic growth over the medium term, but at a slower pace when compared with 2023. The Company’s Medium-Term Targets and current projections for 2026 and beyond are each dependent on macroeconomic factors, including, but not limited to, changes to market interest rates, and reflects expectations as of the date of this presentation. The Medium-Term Targets and macroeconomic assumptions contain forward-looking statements and actual results or conditions may differ materially and adversely from those included in the Medium-Term Targets. Please refer to the “forward-looking statements” on Slide 2 of this presentation.

Bank of Hope’s Roots 20 (Est. 1980 in Los Angeles) 2nd Merger of Equals Jul 2016 Liberty Bank of New York May 2006 Mirae Bank Jun 2009 BankAsiana Oct 2013 Saehan Bank Nov 2013 1st Merger of Equals Nov 2011 Pacific International Bank Feb 2013 Foster Bank Aug 2013 (Est. 1989 in Los Angeles) Asiana Bank Aug 2003 (Est. 1986 in Los Angeles) Innovative Bank Apr 2010 Announced: April 29, 2024 Combination with TBNK fits well into HOPE’s long-term growth strategy

Summary Income Statement 21 ($ in thousands, except per share and share data) 1Q24 4Q23 QoQ % change 1Q23 YoY % change Net interest income before provision for credit losses $ 115,047 $ 125,916 (9)% $ 133,878 (14)% Provision for credit losses 2,600 2,400 8 % 3,320 (22)% Net interest income after provision for credit losses 112,447 123,516 (9)% 130,558 (14)% Noninterest income 8,286 9,280 (11)% 10,978 (25)% Noninterest expense 84,839 99,191 (14)% 88,734 (4)% Noninterest expense excluding notable items(1) 82,652 84,144 (2)% 88,734 (7)% Income before income taxes 35,894 33,605 7 % 52,802 (32)% Income tax provision 10,030 7,124 41 % 13,681 (27)% Net income $ 25,864 $ 26,481 (2)% $ 39,121 (34)% Net income excluding notable items(1) $ 27,440 $ 38,338 (28)% $ 39,121 (30)% Earnings Per Common Share - Diluted $0.21 $0.22 $0.33 Earnings Per Common Share excluding notable items(1) - Diluted $0.23 $0.32 $0.33 Weighted Average Shares Outstanding - Diluted 121,020,292 120,761,112 120,242,295 (1) Noninterest expense excluding notable items, net income excluding notable items, and diluted earnings per common share excluding notable items are non-GAAP financial measures. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the Appendix of this presentation.

Summary Balance Sheet 22 ($ in thousands, except per share data) 3/31/24 12/31/23 QoQ % change 3/31/23 YoY % change Cash and due from banks $ 1,185,296 $ 1,928,967 (39)% $ 2,212,637 (46)% Investment securities 2,277,990 2,408,971 (5)% 2,231,989 2 % Federal Home Loan Bank (“FHLB”) stock and other investments 61,175 61,000 — % 59,962 2 % Loans held for sale, at the lower of cost or fair value 2,763 3,408 (19)% 125,268 (98) % Loans receivable 13,719,178 13,853,619 (1)% 15,064,849 (9)% Allowance for credit losses (158,758) (158,694) — % (163,544) (3)% Net loans receivable 13,560,420 13,694,925 (1)% 14,901,305 (9)% Goodwill and intangible assets 467,984 468,385 — % 469,728 — % Other assets 532,586 565,866 (6)% 567,995 (6)% Total assets $ 18,088,214 $ 19,131,522 (5)% $ 20,568,884 (12)% Deposits $ 14,753,417 $ 14,753,753 — % $ 15,828,209 (7)% FHLB and Federal Reserve Bank borrowings 795,634 1,795,726 (56)% 2,130,000 (63)% Other liabilities 426,893 460,800 (7)% 552,095 (23)% Total liabilities $ 15,975,944 $ 17,010,279 (6)% $ 18,510,304 (14)% Total stockholders’ equity 2,112,270 2,121,243 — % 2,058,580 3 % Book value per share $17.51 $17.66 (1)% $17.17 2 % Tangible book value per share(1) $13.63 $13.76 (1)% $13.26 3 % Tangible common equity ratio(1) 9.33% 8.86% 7.91% Loan-to-deposit ratio 93.0% 93.9% 96.0% (1) TCE per share and TCE ratio are non-GAAP financial measures. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are provided in the Appendix of this presentation.

Appendix: Non-GAAP Financials Reconciliation 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. Reconciliations of the most directly comparable GAAP to non-GAAP financial measures utilized by management are provided below. Tangible Common Equity (TCE) 23 Return on Average Tangible Common Equity (ROTCE) ($ in thousands, except per share info) 1Q24 4Q23 1Q23 Total stockholders’ equity $ 2,112,270 $ 2,121,243 $ 2,058,580 Less: Goodwill and core deposit intangible assets, net (467,984) (468,385) (469,728) TCE $ 1,644,286 $ 1,652,858 $ 1,588,852 Total assets $ 18,088,214 $ 19,131,522 $ 20,568,884 Less: Goodwill and core deposit intangible assets, net (467,984) (468,385) (469,728) Tangible assets $ 17,620,230 $ 18,663,137 $ 20,099,156 TCE Ratio 9.33% 8.86% 7.91% Common shares outstanding 120,610,029 120,126,786 119,865,732 TCE per share $ 13.63 $ 13.76 $ 13.26 ($ in thousands) 1Q24 4Q23 1Q23 Average stockholders’ equity $ 2,126,333 $ 2,048,335 $ 2,046,159 Less: Average goodwill and core deposit intangible assets, net (468,229) (468,622) (469,992) Average TCE $ 1,658,104 $ 1,579,713 $ 1,576,167 Net income $ 25,864 $ 26,481 $ 39,121 ROTCE (annualized) 6.24% 6.71% 9.93%

Appendix: Non-GAAP Financials Reconciliation (cont’d) 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. Reconciliations of the most directly comparable GAAP to non-GAAP financial measures utilized by management are provided below. 24 ($ in thousands) 1Q24 4Q23 1Q23 Noninterest expense $ 84,839 $ 99,191 $ 88,734 Less: notable items: FDIC special assessment expense (1,000) (3,971) ̶ Restructuring costs (143) (11,076) ̶ Merger-related costs (1,044) ̶ ̶ Noninterest expense excluding notable items $ 82,652 $ 84,144 $ 88,734 Revenue $ 123,333 $ 135,196 $ 144,856 Efficiency ratio excluding notable items 67.02% 62.24% 61.26% Average assets 19,140,775 19,600,942 19,087,170 Noninterest expense/average assets excluding notable items 1.73% 1.72% 1.86% Efficiency Ratios Excluding Notable Items ($ in thousands) 1Q24 4Q23 1Q23 Net income $ 25,864 $ 26,481 $ 39,121 Notable items: FDIC special assessment expense 1,000 3,971 ̶ Restructuring costs 143 11,076 ̶ Merger-related costs 1,044 ̶ ̶ Total notable items 2,187 15,047 ̶ Tax provision 611 3,190 ̶ Less: total notable items, net of tax provision $ 1,576 $ 11,857 $ ̶ Net income excluding notable items $ 27,440 $ 38,338 $ 39,121 Diluted common shares 121,020,292 120,761,112 120,242,295 EPS excluding notable items $ $0.23 $ $0.32 $ 0.33 Average assets 19,140,775 19,600,942 19,087,170 ROA excluding notable items 0.57% 0.78% 0.82% Average equity 2,126,333 2,048,335 2,046,159 ROE excluding notable items 5.16% 7.49% 7.65% Average TCE $ 1,658,104 $ 1,579,713 $ 1,579,167 ROTCE excluding notable items 6.62% 9.71% 9.33% Profitability Ratios Excluding Notable Items

Document

News Release

HOPE BANCORP DECLARES QUARTERLY CASH DIVIDEND OF $0.14 PER SHARE

LOS ANGELES - April 29, 2024 - Hope Bancorp, Inc. (the “Company”) (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 May 23, 2024, to all stockholders of record as of the close of business on May 9, 2024.

About Hope Bancorp, Inc.

Contacts:

Julianna Balicka	Angie Yang
EVP & Chief Financial Officer	SVP, Director of Investor Relations & Corporate Communications
213-235-3235	213-251-2219
julianna.balicka@bankofhope.com	angie.yang@bankofhope.com

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Document

News Release

HOPE BANCORP AND TERRITORIAL BANCORP ANNOUNCE

DEFINITIVE MERGER AGREEMENT

LOS ANGELES and HONOLULU - April 29, 2024 - Hope Bancorp, Inc. (“Hope Bancorp”) (NASDAQ: HOPE), the holding company of Bank of Hope, and Territorial Bancorp Inc. (“Territorial”) (NASDAQ: TBNK), the stock holding company of Territorial Savings Bank, today jointly announced the signing of a definitive merger agreement, which is expected to create the largest regional bank catering to multi-ethnic customers across the continental United States and the Hawaiian Islands.

As of December 31, 2023, Territorial had total assets of $2.24 billion, total loans of $1.31 billion and total deposits of $1.64 billion. Territorial Savings Bank, a state-chartered savings bank, originally chartered in 1921 by the Territory of Hawai‘i, conducts business from its headquarters in Honolulu, Hawai‘i, and operates 28 branches in the state. Hope Bancorp intends to preserve the 100-plus year legacy of the Territorial Savings Bank brand name, culture and commitment to local communities. Following the completion of the transaction, the legacy Territorial franchise in Hawai‘i will continue to do business under the Territorial Savings Bank brand, as a trade name of Bank of Hope.

Strategic Highlights of Proposed Transaction

•Adds stable, low-cost core deposit base to the combined company

•Accelerates diversification of the combined company’s loan mix through the addition of a residential mortgage portfolio with excellent asset quality

•Opportunity to grow Territorial’s market share and enhance the customer experience by leveraging the combined company’s larger balance sheet, resources and more extensive array of banking products and services

•Combined footprint expands to include attractive Hawai‘i market with large Asian American and Pacific Islander communities

•Strong levels of capital to support the growth of the combined franchise

“We believe this combination will strengthen our position as one of the leading Asian American banks in the country by expanding our footprint to the Hawaiian Islands,” stated Kevin S. Kim, Chairman, President and Chief Executive Officer of Hope Bancorp, Inc. “Upon the close of the transaction, we believe Territorial’s high-quality deposit base will enhance our core funding mix and Territorial’s residential mortgage portfolio will accelerate the diversification of our loans. We look forward to building on Territorial’s 100-plus year legacy of exemplary customer service and support of local communities in a strategically important market.”

“Our merger with Hope Bancorp will bring together two companies that share long-standing commitments to our customers and the communities where we live and work,” said Allan S. Kitagawa, Chairman, President and Chief Executive Officer of Territorial Bancorp Inc. “Our name will remain Territorial Savings Bank, and we expect a seamless transition for our customers, who will continue to benefit from our strong focus on relationship banking, personalized service and tailored financial solutions. At the same time, we believe the proposed combination will strengthen Territorial Savings Bank for the long term, providing many advantages for our customers and employees as we become part of a larger organization with greater resources, enhanced technology platforms, and an expanded array of banking products and services.”

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2-2-2 NASDAQ: HOPE & NASDAQ: TBNK

Under the terms of the merger agreement, upon completion of the transaction, Territorial shareholders will receive a fixed exchange ratio of 0.8048 shares of Hope Bancorp common stock in exchange for each share of Territorial common stock they own, in a 100% stock-for-stock transaction valued at approximately $78.6 million. Based on the closing price of Hope Bancorp’s common stock on April 26, 2024, this represents a value of $8.82 per share of Territorial common stock, although the actual value will be determined upon transaction closing. Upon completion of the transaction, it is expected that Hope Bancorp shareholders will own approximately 94.4% of the combined entity and Territorial shareholders will own approximately 5.6%, with the actual percentages being determined as of the transaction closing date. The transaction is intended to qualify as a tax-free reorganization for Territorial shareholders. The proposed transaction, after the close, is expected to be immediately accretive to Hope Bancorp’s earnings.

The Boards of Directors of both companies have approved the merger agreement and the transaction contemplated thereby. The transaction is expected to close by year-end 2024, subject to regulatory approvals, the approval of Territorial shareholders, and the satisfaction of other customary closing conditions.

Hope Bancorp is being advised by the investment banking firm of D.A. Davidson & Co., and the law firm of Greenberg Traurig, LLP. Territorial is being advised by the investment banking firm of Keefe, Bruyette & Woods, a Stifel Company, and the law firm of Luse Gorman, PC.

Investor Conference Call

Hope Bancorp previously announced that it will host an investor conference call on Monday, April 29, 2024, at 9:30 a.m. Pacific Time / 6:30 a.m. Hawai‘i Time / 12:30 p.m. Eastern Time to review unaudited financial results for its first quarter ended March 31, 2024. 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, along with a presentation regarding the proposed Territorial merger, 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 May 6, 2024, replay access code 4889007.

About Hope Bancorp, Inc.

Hope Bancorp, Inc. (NASDAQ: HOPE) is the holding company of Bank of Hope, the first and only super regional Korean American bank in the United States with $18.09 billion in total assets as of March 31, 2024. Headquartered in Los Angeles, California and serving a multi-ethnic population of customers across the nation, Bank of Hope provides a full suite of commercial, corporate and consumer loans, including commercial and commercial real estate lending, SBA lending, residential mortgage and other consumer lending; deposit and fee-based products and services; international trade financing; cash management services, foreign currency exchange solutions, and interest rate derivative products, among others. Bank of Hope operates 48 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Alabama, and Georgia. Bank of Hope also operates SBA loan production offices, commercial loan production offices, and residential mortgage loan production offices in the United States; and a representative office in Seoul, Korea. 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 www.bankofhope.com. By including the foregoing website address link, Hope Bancorp does not intend to and shall not be deemed to incorporate by reference any material contained or accessible therein.

About Territorial Bancorp Inc.

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3-3-3 NASDAQ: HOPE & NASDAQ: TBNK

Additional Information and Where to Find It

In connection with the proposed merger, Hope Bancorp, Inc. will file with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4, which will include a Proxy Statement of Territorial Bancorp Inc. that also constitutes a prospectus of Hope Bancorp, Inc. Territorial Bancorp shareholders are encouraged to read the Registration Statement and the Proxy Statement/Prospectus regarding the merger when it becomes available and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information about the proposed merger. Territorial Bancorp shareholders will be able to obtain a free copy of the Proxy Statement/Prospectus, as well as other filings containing information about Hope Bancorp and Territorial Bancorp at the SEC’s Internet site (www.sec.gov). Territorial Bancorp shareholders will also be able to obtain these documents, free of charge, from Territorial Bancorp at https://www.tsbhawaii.bank/tsb/investor-relations/.

Participants in Solicitation

Territorial Bancorp and its directors, executive officers, management and employees may be deemed to be participants in the solicitation of proxies in respect of the merger. Information concerning Territorial Bancorp’s participants is set forth in the Proxy Statement, dated April 16, 2024, for Territorial Bancorp’s 2024 annual meeting of shareholders as filed with the SEC on Schedule 14A. Additional information regarding the participants in the solicitation of proxies in respect of the proposed transaction and interests of participants of Territorial Bancorp in the solicitation of proxies in respect of the merger will be included in the Registration Statement and Proxy Statement/Prospectus to be filed with the SEC. Free copies of these documents, when available, may be obtained as described in the preceding paragraph.

Forward-Looking Statements

Some statements in this news 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 low-cost core deposit base, diversification of the loan portfolio, expansion of market share, capital to support growth, strengthened opportunities, enhanced value, geographic expansion, and statements about the proposed transaction being immediately accretive. 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, Hope Bancorp and Territorial Bancorp each claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. Hope Bancorp’s actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. The closing of the proposed transaction is subject to regulatory approvals, the approval of Territorial Bancorp shareholders, and other customary closing conditions. There is no assurance that such conditions will be met or that the proposed merger will be consummated within the expected time frame, or at all. If the transaction is consummated, factors that may cause actual outcomes to differ from what is expressed or forecasted in these forward-looking statements include, among things: difficulties and delays in integrating Hope Bancorp and Territorial Bancorp and achieving anticipated synergies, cost savings and other benefits from the transaction; higher than anticipated transaction costs; deposit attrition, operating costs, customer loss and business disruption following the merger, including difficulties in maintaining relationships with employees and customers, may be greater than expected; and required governmental approvals of the merger may not be obtained on its proposed terms and schedule, or without regulatory constraints that may limit growth. Other risks and uncertainties include, but are not limited to: possible further deterioration in economic conditions in Hope Bancorp’s or Territorial Bancorp’s areas of operation or elsewhere; 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 Hope Bancorp’s or Territorial Bancorp’s allowances for credit losses; potential increases in deposit insurance assessments and regulatory risks associated with current and future regulations; the outcome of any legal proceedings that may be instituted against Hope Bancorp or Territorial Bancorp; the risk that any announcements relating to the proposed transaction could have adverse effects on the market price of the common stock of either or both parties to the proposed transaction; and diversion of management’s attention from ongoing business operations and opportunities. For additional information concerning these and other risk factors, see Hope Bancorp’s and Territorial Bancorp’s most recent Annual Reports on Form 10-K. Hope Bancorp and Territorial Bancorp do not undertake, and specifically disclaim 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.

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4-4-4 NASDAQ: HOPE & NASDAQ: TBNK

Contacts:

For Hope Bancorp, Inc.	For Territorial Bancorp Inc.
Julianna Balicka	Walter Ida
EVP & Chief Financial Officer	SVP, Director of Investor Relations
213-235-3235	808-946-1400
julianna.balicka@bankofhope.com	walter.ida@territorialsavings.net
Angie Yang
SVP, Director of Investor Relations & Corporate Communications
213-251-2219
angie.yang@bankofhope.com

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hopemergerdeck-finalx202

A Strategically Compelling & Financially Attractive Combination April 29, 2024

Forward Looking Statements & Additional Disclosures This presentation contains statements regarding future events or the future financial performance of Hope Bancorp, Inc. (“Company”) and its proposed merger with Territorial Bancorp Inc. (“Territorial”) 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 strategically compelling and financially attractive nature of the proposed merger, low-cost core deposit base, diversification of the loan portfolio, expansion of market share, percentage earnings per share growth, capital to support growth, and statements about the proposed transaction being immediately accretive . 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 and Territorial each claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. Upon completion of the merger, the combined 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 closing of the proposed transaction is subject to regulatory approvals, the approval of the shareholders of Territorial, and other customary closing conditions. There is no assurance that such conditions will be met or that the proposed merger will be consummated within the expected time frame, or at all. If the transaction is consummated, factors that may cause actual outcomes to differ from what is expressed or forecasted in these forward-looking statements include, among things: difficulties and delays in integrating the Company and Territorial and achieving anticipated synergies, cost savings and other benefits from the transaction; higher than anticipated transaction costs; deposit attrition, operating costs, customer loss and business disruption following the merger, including difficulties in maintaining relationships with employees and customers, may be greater than expected; and required governmental approvals of the merger may not be obtained on its proposed terms and schedule, or without regulatory constraints that may limit growth. Other risks and uncertainties include, but are not limited to: possible further 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, and regulatory risks associated with current and future regulations. 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. Additional Information and Where to Find It In connection with the proposed merger, Hope Bancorp, Inc. will file with the Securities and Exchange Commission (“SEC”) a Registration Statement on Form S-4, which will include a Proxy Statement of Territorial Bancorp Inc., that also constitutes a prospectus of Hope Bancorp, Inc. Territorial Bancorp shareholders are encouraged to read the Registration Statement and the Proxy Statement/Prospectus regarding the merger when it becomes available and any other relevant documents filed with the SEC, as well as any amendments or supplements to those documents, because they will contain important information about the proposed merger. Territorial Bancorp shareholders will be able to obtain a free copy of the Proxy Statement/Prospectus, as well as other filings containing information about Hope Bancorp and Territorial Bancorp at the SEC’s Internet site (www.sec.gov). Territorial Bancorp shareholders will also be able to obtain these documents, free of charge, from Territorial Bancorp at https://www.tsbhawaii.bank/tsb/investor-relations/. 2

▪ Creates the largest U.S. regional bank catering to multi-ethnic customers across the continental United States and the Hawaiian Islands ▪ TBNK bolsters Combined Company’s core funding base with $1.6 billion in low-cost deposits as of 12/31/23 ▪ Accelerates diversification of Combined Company’s loan portfolio by more than doubling HOPE’s residential mortgage balances ▪ Market share growth opportunities by leveraging larger balance sheet, more resources, enhanced technology and broader array of banking products & services for enhanced customer experience Strategically Compelling Transaction Highlights ▪ Merger consideration of $78.6 million, or $8.82 per TBNK share(1) ▪ Fixed exchange ratio: 0.8048 HOPE shares per TBNK share in an all-stock transaction ▪ Expected to be immediately accretive after the close with double-digit percentage EPS growth. Targeting deal close by year-end 2024 ▪ Strong capital to support growth of the Combined Company Financially Attractive ▪ Shared corporate values that preserve and build on TBNK’s 100+ year legacy of providing personalized customer service and supporting local communities ▪ To ensure continuity for customers and employees after the close, legacy TBNK will do business under the Territorial Savings Bank brand, as a trade name of Bank of Hope ▪ Continued dedication to and investment in the Hawai‘i communities Culturally Aligned 3 (1) Based on HOPE closing price of $10.96 as of 4/26/24 Nasdaq: HOPE Nasdaq: TBNK

Overview of TBNK 4 • Headquartered in Honolulu, Hawai‘i • 5th largest deposit market share(1) in the state of Hawai‘i • Founded in 1921: 100+ years of operating history in Hawai‘i • Attractive cost of total deposits: 1.61% spot rate, or 1.20% excl. public deposits, as of 12/31/23 • Low loan-to-value (“LTV”) residential mortgage portfolio: avg. LTV of 63% as of 12/31/23, of which less than 1% has an LTV >80% Financial Highlights (as of 12/31/23)(2) 28 Branch Footprint in the Hawaiian Islands (1) Deposit market share source: S&P Capital IQ Pro based on FDIC Summary of Deposits as of 6/30/23 (2) Source: S&P Capital IQ Pro as of 12/31/23 MauiO‘ahu The Island of Hawai‘i Kaua‘i $2.2B Total Assets 0.10% NPAs / Total Assets $1.3B (97% Resi. Mort.) Gross Loans $251MM Tang. Common Equity $1.6B Total Deposits 11.23% Tang. Common Equity Ratio 80.0% Loans / Deposits 28.33% Common Equity Tier-1 Ratio

19% Owner Occupied CRE $15.2B Pro Forma Loans (at 12/31/23) Pro Forma Loans and Deposits 5 Hawai‘i would be the Combined Company’s 3rd largest deposit market by state $16.4B Pro Forma Deposits (at 12/31/23) Pro Forma Deposit Portfolio 62% California 10% New York 10% Hawai‘i 5% Illinois 4% Texas 4% New Jersey 3% Washington Pro Forma Loan Portfolio 31% Nonowner Occupied CRE 8% Multifamily Residential 27% C&I 15% Residential Mortgage TBNK’s contribution would more than double HOPE’s residential mortgage portfolio 8% TBNK 2% Other States (VA, GA, AL)

TBNK Deposits ($000) as of Year-End TBNK’s Core Deposit Franchise: Low-Cost, Granular, Stable 6 Source: S&P Capital IQ Pro, Company reports. • FY 2023 avg. cost of total deposits: 1.23%, or 0.79% excl. public deposits • Year-end total cost of deposits @ 12/31/23: 1.61%, or 1.20% excl. public deposits • Granular deposit base: ~55,000 accounts, with avg. account size of ~$30,000 and median account size of ~$4,100 • 73% of TBNK deposit balances (excl. public deposits) are from accounts equal to or less than $250,000 in size • 93% of non-CD deposit balances are consumer deposits Weighted Avg. Annual Cost of Total Deposits TBNK Deposits – By Account Size as of 12/31/23 Less Than $10K 5% ~35K accts. $10k - $50K 19% ~12K accts. $50K - $100K 16% ~3.5K accts.$100K - $250K 32% ~3K accts. $250K - $500K 15% <700 accts. $500K - $1MM 7% <170 accts. $1MM+ 4% <50 accts. 2.82% 1.23% 0.00% 0.50% 1.00% 1.50% 2.00% 2.50% 3.00% 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 HOPE TBNK $1.5B excl. public deposits of $171MM $1,360 $1,445 $1,493 $1,597 $1,629 $1,632 $1,660 $1,682 $1,716 $1,637 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023

Transaction Details 7 Consideration • Fixed exchange ratio: TBNK shareholders to receive 0.8048 shares of HOPE common stock for each share of TBNK common stock • 100% stock-for-stock transaction valued at approximately $78.6MM(1) • Based on HOPE’s closing price on 4/26/24, represents a value of $8.82 per TBNK share • Transaction intended to qualify as a tax-free reorganization for TBNK shareholders • Upon merger completion, TBNK shareholders will own approximately 5.6% of HOPE shares outstanding (7.2 million shares) on a Pro Forma basis Timing & Approvals • HOPE is a seasoned acquiror & integrator of diverse business models • Subject to approval by TBNK shareholders • Subject to customary regulatory approvals • No financing contingencies to complete the transaction • Targeting merger close by year-end 2024 Transaction Metrics (1) (1) Based on HOPE closing stock price of $10.96 as of 4/26/24. HOPE and TBNK tangible book value as of 12/31/23 (2) Tangible Book Value (“TBV”) per share; Tangible Common Equity (“TCE”); Common Equity Tier-1 (“CET-1”) (3) Pro Forma capital ratios as of 12/31/23 including transaction fair market value marks Pro Forma Combined Company Capital Ratios (3) 31% ~(6)% ~3 Years Price/ TBNK TBV(2) HOPE TBV Accretion/ (Dilution) HOPE TBV Earn-back 8.0% 9.2% 11.7% 13.3% TCE(2) Ratio Leverage Ratio CET-1(2) Ratio Total Capital Ratio

• Local staff to ensure relationship continuity for customers • Competitive compensation, benefits and career advancement opportunities EMPLOYEES • Access to expanded array of banking products & services • Benefits from enhanced technology platforms for improved customer user experiences • Shared cultural values that emphasize volunteerism and outreach to local communities • Commitment to Territorial’s long-standing legacy of community investments • Continuing to operate under Territorial Savings Bank brand, doing business as a trade name of Bank of Hope • Strategically important partner enhancing Bank of Hope’s footprint and diversification Commitment to the Hawai‘i Market 8 COMMUNITIESTERRITORIAL SAVINGS BANK CUSTOMERS

Appendix 9

Bank of Hope’s Roots 10 (Est. 1980 in Los Angeles) 2nd Merger of Equals Jul 2016 Liberty Bank of New York May 2006 Mirae Bank Jun 2009 BankAsiana Oct 2013 Saehan Bank Nov 2013 1st Merger of Equals Nov 2011 Pacific International Bank Feb 2013 Foster Bank Aug 2013 (Est. 1989 in Los Angeles) Asiana Bank Aug 2003 (Est. 1986 in Los Angeles) Innovative Bank Apr 2010 Combination with TBNK fits well into HOPE’s long-term growth strategy Announced: April 29, 2024

Nationwide Presence Anchored in Asian American Communities 11 Southern California 24 Branches, 1 LPO Northern California 1 Branch, 1 SBA LPO, 1 LPO Washington 4 Branches, 1 SBA LPO, 1 LPO New York/New Jersey 9 Branches, 1 SBA LPO, 2 LPOs Virginia 2 Branches(1) Texas 3 Branches, 2 SBA LPOs 1 LPO Alabama 1 Branch Illinois 3 Branches Colorado 1 SBA LPO Oregon 1 SBA LPO Georgia 1 Branch, 1 SBA LPO Branches and LPOsLPOsBranches Florida 2 LPOs LPO: Loan Production Office SBA: Small Business Administration Representative Office Seoul, South Korea Kauai Hawai‘i Territorial Savings Bank 28 Branches Branch map is not presented in scale. Map as of 4/29/24. (1) HOPE entered into branch purchase & assumption agreement for the sale of its two branches in Virginia. Transaction expected to close in 2H24.

Hawai‘i County Maui County Kaua‘i County Honolulu County TBNK Operating Markets 12 Hawai‘i Deposit Market Share (as of 06/30/23)# of Branches 23 Deposit Market Share 2.9% Population 997K Median HHI $97K # of Branches 2 Deposit Market Share 4.4% Population 209K Median HHI $74K # of Branches 2 Deposit Market Share 2.7% Population 165K Median HHI $85K # of Branches 1 Deposit Market Share 1.0% Population 75K Median HHI $86K Source: S&P Capital IQ Pro, FDIC Summary of Deposits data as of 06/30/23 Note: Population and HHI metrics are estimates for the year 2024, primarily based on most recent U.S. Census data. Demographic data provided to S&P Capital IQ Pro by Claritas. Rank Institution (State) Deposit Market Share 1 Bank of Hawaii Corp. (HI) 33.8% 2 First Hawaiian Inc. (HI) 33.8% 3 ASB Hawaii, Inc. (HI) 14.3% 4 Central Pacific Financial Corp (HI) 11.9% 5 Territorial Bancorp Inc. (HI) 2.9% 6 Hawaii National Bancshares Inc. (HI) 1.3% 7 HomeStreet Inc. (WA) 1.2% 8 CBB Bancorp Inc. (CA) 0.4% 9 First Foundation Inc. (TX) 0.3% 10 RBB Bancorp (CA) 0.1% Total for Institutions in Market 100.0% Combination with HOPE provides market share growth opportunities with broader array of banking products & services