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 24, 2023

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 24, 2023, 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, 2023. A copy of the April 24, 2023 news release is furnished as Exhibit 99.1 and incorporated herein by reference.

The information furnished under Item 2.02, Item 7.01, and certain exhibits under Item 9.01 of this Current Report on Form 8-K (including Exhibits 99.1 and 99.2 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 it 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 7.01. Regulation FD Disclosure

The Company previously announced that it will host an investor conference call on Tuesday, April 25, 2023 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, 2023. A presentation to accompany the conference call, which contains certain historical and forward-looking information relating to the Company (the “Presentation Materials”), has been made available at the Investor Relations section of Hope Bancorp’s website at www.ir-hopebancorp.com. A copy of the Presentation Materials is furnished as Exhibit 99.3 and incorporated herein by reference.

Item 8.01 Other Events.

On April 24, 2023, 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 18, 2023 to all stockholders of record as of the close of business on May 4, 2023. A copy of the April 24, 2023 news release is attached hereto as Exhibit 99.2.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit No.	Description of Exhibit
99.1	News release, dated April 24 , 2023, concerning the results of operations and financial condition for the first quarter ended and as of March 31, 2023 .
99.2	Presentation Materials, dated April 25, 2023.
99.3	News release, dated April 24, 2023, announcing the declaration of a quarterly cash dividend.
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 25, 2023	By:	/s/ Kevin S. Kim
		Kevin S. Kim
		Chairman, President and Chief Executive Officer

Document

News Release

HOPE BANCORP REPORTS 2023 FIRST QUARTER FINANCIAL RESULTS

LOS ANGELES - April 24, 2023 - Hope Bancorp, Inc. (the “Company”) (NASDAQ: HOPE), the holding company of Bank of Hope (the “Bank”), today reported unaudited financial results for its first quarter ended March 31, 2023.

For the three months ended March 31, 2023, net income totaled $39.1 million, or $0.33 per diluted common share. This compares with net income of $51.7 million, or $0.43 per diluted common share, in the preceding fourth quarter and $60.7 million, or $0.50 per diluted common share, in the year-ago first quarter.

“The focus this quarter was to maintain a strong balance sheet with high levels of capital and liquidity, and in this, we succeeded,” said Kevin S. Kim, Chairman, President and Chief Executive Officer. “At the close of the 2023 first quarter, total deposits grew 1% quarter-over-quarter and 9% year-over-year, underscoring the confidence that our customers have in our franchise as the largest Korean American bank in the country. Our capital levels continued to be strong and our total risk-based capital ratio increased to 12.25% at March 31, 2023. Asset quality continued to be healthy.

“From a risk management perspective, we fortified our liquidity to prudently manage through the current environment of heightened volatility due to the banking industry disruption in mid-March. We substantially increased the level of cash and cash equivalents on our balance sheet to $2.2 billion at March 31, 2023. At quarter-end, our available borrowing capacity, together with cash and cash equivalents, and unpledged investment securities, totaled $8.0 billion, equivalent to 50% of total deposits. At the same time, we continued to execute on initiatives designed to further strengthen our franchise, support long-term profitability, and create additional value for stockholders.”

Q1 2023 Highlights

•The Company’s total risk-based capital ratio was 12.25% at March 31, 2023, up 28 basis points quarter-over-quarter.

•Book value per common share increased to $17.17 and tangible common equity per share increased to $13.26 at March 31, 2023, both up 2% quarter-over-quarter.

•Total deposits of $15.83 billion at March 31, 2023, increased 1% quarter-over-quarter and 9% year-over-year.

•Available borrowing capacity, cash and cash equivalents, and unpledged investment securities totaled $7.99 billion, equivalent to 50% of total deposits, at March 31, 2023. This is up 11% from $7.23 billion, or 46% of total deposits, at December 31, 2022.

•During the first quarter, the Company fortified its on-balance sheet liquidity in response to industry disruption. Cash and cash equivalents increased to $2.21 billion at March 31, 2023, up from $506.8 million as of December 31, 2022. This increase in on-balance sheet liquidity reflects the Company’s conservative approach to risk management. It was largely funded through the Federal Reserve Bank’s Bank Term Funding Program (“BTFP”). BTFP borrowings were $1.40 billion at March 31, 2023, carrying a weighted average interest rate of 4.49%.

•The Bank’s insured or otherwise collateralized deposits totaled $9.91 billion at March 31, 2023. The Bank’s uninsured deposit ratio was 38% at March 31, 2023, a decrease from 41% at December 31, 2022. The available borrowing capacity, cash and cash equivalents, and unpledged investment securities well exceeded the Bank’s uninsured deposits at quarter-end.

•First quarter 2023 loan originations totaled $568.7 million, led by commercial loans and followed by commercial real estate. New commercial loans accounted for 61% of total originations for the first quarter of 2023. Loans receivable of $15.06 billion at March 31, 2023, decreased 2% quarter-over-quarter and increased 7% year-over-year.

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Financial Summary

	At or for the Three Months Ended
(dollars in thousands, except per share data) (unaudited)	3/31/2023			12/31/2022			3/31/2022
Net income	$	39,121		$	51,703		$	60,738
Diluted earnings per share	$	0.33		$	0.43		$	0.50
Net interest income before provision (credit) for credit losses	$	133,878		$	150,521		$	133,176
Pre-provision net revenue (“PPNR”) (1)	$	54,502		$	78,113		$	70,989
Loans receivable	$	15,064,849		$	15,403,540		$	14,066,674
Deposits	$	15,828,209		$	15,738,801		$	14,515,128
Total assets	$	20,568,884		$	19,164,491		$	17,803,814
Total equity	$	2,058,580		$	2,019,328		$	2,041,057
Total risk-based capital ratio		12.25	%		11.97	%		12.49	%
Net charge offs (recoveries)	$	108		$	6,402		$	(17,900)
Net charge offs (recoveries)/average loans receivable		—	%		0.17	%		(0.52)	%
Allowance for credit losses	$	163,544		$	162,359		$	147,450
Allowance for credit losses to loans receivable		1.09	%		1.05	%		1.05	%
Nonperforming assets to total assets (2)		0.39	%		0.36	%		0.58	%
Return on average assets (“ROA”)		0.82	%		1.10	%		1.37	%
Return on average equity (“ROE”)		7.65	%		10.35	%		11.62	%
Return on average tangible common equity (“ROTCE”) (1)		9.93	%		13.54	%		15.01	%
ROA (PPNR) (1)		1.14	%		1.66	%		1.60	%
ROE (PPNR) (1)		10.65	%		15.64	%		13.58	%
Net interest margin		3.02	%		3.36	%		3.21	%
Noninterest expense / average assets		1.89	%		1.79	%		1.70	%
Efficiency ratio		62.38	%		51.97	%		51.50	%

__________________

(1) Pre-provision net revenue, ROA (PPNR), ROE (PPNR), and ROTCE are non-GAAP financial measures. Management’s reasons and purposes for using these non-GAAP financial measures are set forth on Table Page 9 of this earnings release. A quantitative reconciliation of the most directly comparable GAAP to non-GAAP financial measures are provided in the accompanying financial information on Table Page 9.

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

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Operating Results for the 2023 First Quarter

Net interest income before provision (credit) for credit losses for the 2023 first quarter totaled $133.9 million, compared with $150.5 million in the 2022 fourth quarter and $133.2 million in the year-ago first quarter. The Company attributed the quarter-over-quarter decrease primarily to higher interest expense on deposits, partially offset by interest income growth due to expanding earning asset yields and a 1% increase in average interest earning assets.

The net interest margin for the 2023 first quarter decreased 34 basis points to 3.02% from 3.36% in the preceding fourth quarter as the increase in the cost of deposits outpaced the expansion of the yields on interest-earning assets. Compared with the year-ago first quarter, the net interest margin decreased 19 basis points.

The weighted average yield on loans for the 2023 first quarter was 5.75%, up 39 basis points from 5.36% in the 2022 fourth quarter and up 187 basis points from the year-ago first quarter. The Company attributed the yield expansion to the repricing of its variable-rate loans following increases in market interest rates, as well as a significant increase in the average rate on new loans originated during the last four quarters. The rate on new loans originated in the 2023 first quarter was 7.53%, up 82 basis points from 6.71% in the preceding fourth quarter, and up 399 basis points from 3.54% in the year-ago first quarter.

The weighted average cost of deposits for the 2023 first quarter increased 79 basis points to 2.41% from 1.62% in the 2022 fourth quarter, reflecting customer preferences for higher yields in a rising interest rate environment, as well as the banking industry disruption in mid-March of 2023. Compared with the year-ago first quarter, the weighted average cost of deposits for the 2023 first quarter increased 217 basis points from 0.24%.

Noninterest income for the 2023 first quarter totaled $11.0 million, compared with $12.1 million in the 2022 fourth quarter and $13.2 million in the year-ago first quarter. Quarter-over-quarter, deposit service fees and net gains on SBA loan sales increased, offset by decreases in other income and fees. During the 2023 first quarter, the Company sold $40.7 million of the guaranteed portion of SBA 7(a) loans and $7.3 million of residential mortgage loans, compared with $41.2 million and $3.5 million, respectively, sold in the preceding fourth quarter.

Noninterest expense for the 2023 first quarter totaled $90.4 million, compared with $84.5 million in the preceding fourth quarter and $75.4 million in the year-ago first quarter. The quarter-over-quarter increase in noninterest expense was primarily driven by higher salaries and employee benefits expense, which reflected payroll taxes and related expenses that are typically higher in the first quarter, as well as $1.7 million of severance charges. Included in other expenses is $1.6 million of provision for unfunded loan commitments.

The Company’s efficiency ratio for the 2023 first quarter was 62.4%, compared with 52.0% in the preceding fourth quarter and 51.5% in the year-ago first quarter. Noninterest expense as a percentage of average assets was 1.89% for the 2023 first quarter, compared with 1.79% for the 2022 fourth quarter and 1.70% for the 2022 first quarter.

The effective tax rate for the 2023 first quarter was 25.9%, compared with 26.1% for the preceding fourth quarter and 25.9% for the year-ago first quarter.

Balance Sheet Summary

New loan originations during the 2023 first quarter totaled $568.7 million, compared with $793.4 million in the preceding fourth quarter and $1.03 billion in the 2022 first quarter.

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The following table sets forth the components of new loan production for the quarters ended March 31, 2023, December 31, 2022 and March 31, 2022.

	For the Three Months Ended
(dollars in thousands) (unaudited)	3/31/2023		12/31/2022		3/31/2022
Commercial real estate	$	176,798	$	302,983	$	529,730
Commercial		344,194		424,340		335,756
SBA		29,977		28,825		56,602
Residential mortgage		14,317		36,720		103,473
Consumer		3,375		555		401
Total new loan originations	$	568,661	$	793,423	$	1,025,962

At March 31, 2023, loans receivable decreased 2% quarter-over-quarter to $15.06 billion from $15.40 billion at December 31, 2022, and increased 7% from $14.07 billion a year ago at March 31, 2022.

The following table sets forth the loan portfolio composition and percentage of total loans at March 31, 2023, December 31, 2022 and March 31, 2022:

(dollars in thousands) (unaudited)	3/31/2023				12/31/2022				3/31/2022
	Balance		Percentage		Balance		Percentage		Balance		Percentage
Commercial loans	$	4,821,270	32.0	%	$	5,109,532	33.2	%	$	4,124,715	29.3	%
Real estate loans	9,373,529		62.2	%	9,414,580		61.1	%	9,262,305		65.9	%
Consumer and other loans	870,050		5.8	%	879,428		5.7	%	679,654		4.8	%
Loans receivable	$	15,064,849	100.0	%	$	15,403,540	100.0	%	$	14,066,674	100.0	%

At March 31, 2023, total deposits increased 1% to $15.83 billion, up from $15.74 billion at December 31, 2022, and increased 9% year-over-year from $14.52 billion at March 31, 2022, reflecting growth in time deposits, partially offset by lower levels of noninterest-bearing demand, money market and savings deposits in a rising interest rate environment.

The following table sets forth the deposit composition and percentage of total deposits at March 31, 2023, December 31, 2022 and March 31, 2022:

(dollars in thousands) (unaudited)	3/31/2023				12/31/2022				3/31/2022
	Balance		Percentage		Balance		Percentage		Balance		Percentage
Noninterest bearing demand deposits	$	4,504,621	28.4	%	$	4,849,493	30.8	%	$	5,498,263	37.9	%
Money market and interest bearing<br> demand deposits	4,331,998		27.4	%	5,615,784		35.7	%	6,484,677		44.7	%
Saving deposits	231,704		1.5	%	283,464		1.8	%	321,373		2.2	%
Time deposits	6,759,886		42.7	%	4,990,060		31.7	%	2,210,815		15.2	%
Total deposits	$	15,828,209	100.0	%	$	15,738,801	100.0	%	$	14,515,128	100.0	%

Allowance for Credit Losses

During the 2023 first quarter, the Company built its allowance for credit losses to $163.5 million at March 31, 2023, and increased the allowance coverage to 1.09% of loans receivable. For the 2023 first quarter, the Company recorded a provision for credit losses of $1.7 million, compared with $8.2 million in the preceding fourth quarter and a negative provision for credit losses of $11.0 million in the 2022 first quarter.

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The following table sets forth the allowance for credit losses and allowance coverage ratios at March 31, 2023, December 31, 2022 and March 31, 2022:

(dollars in thousands) (unaudited)	3/31/2023			12/31/2022			3/31/2022
Allowance for credit losses	$	163,544		$	162,359		$	147,450
Allowance for credit loss/loans receivable		1.09	%		1.05	%		1.05	%

Credit Quality

Asset quality continued to be healthy in the 2023 first quarter. Net charge offs were only $108 thousand in the 2023 first quarter, representing an annualized net charge off ratio of 0.00% of average loans. The following table sets forth net charge offs (recoveries) and net charge offs (recoveries) to average loans receivable, annualized, for the three months ended March 31, 2023, December 31, 2022 and March 31, 2022:

	For the Three Months Ended
(dollars in thousands) (unaudited)	3/31/2023			12/31/2022			3/31/2022
Net charge offs (recoveries)	$	108		$	6,402		$	(17,900)
Net charge offs (recoveries)/average loans receivable (annualized)		—	%		0.17	%		(0.52)	%

Nonperforming assets represented 0.39% of total assets at March 31, 2023, compared with 0.36% as of December 31, 2022, and 0.58% as of March 31, 2022. Total nonperforming assets were $80.2 million at March 31, 2023, an increase of 15% quarter-over-quarter and a decrease of 22% year-over-year. Included in nonperforming assets were loans on nonaccrual status of $78.9 million at March 31, 2023, which increased from $49.7 million at December 31, 2022. This quarter-over-quarter change was primarily driven by one large nonaccrual loan, which is expected to be resolved by mid-year with a minimal risk of loss.

The following table sets forth the components of nonperforming assets at March 31, 2023, December 31, 2022 and March 31, 2022:

(dollars in thousands) (unaudited)	3/31/2023			12/31/2022			3/31/2022
Loans on nonaccrual status (1)	$	78,861		$	49,687		$	52,717
Delinquent loans 90 days or more on accrual status		364			401			3,090
Accruing troubled debt restructured loans (2)		—			16,931			44,555
Total nonperforming loans		79,225			67,019			100,362
Other real estate owned		938			2,418			2,010
Total nonperforming assets	$	80,163		$	69,437		$	102,372
Nonperforming assets/total assets		0.39	%		0.36	%		0.58	%

__________________

(1) Excludes delinquent SBA loans that are guaranteed and currently in liquidation totaling $7.6 million, $9.8 million and $17.0 million at March 31, 2023, December 31, 2022 and March 31, 2022, respectively.

(2) The Company adopted ASU 2022-02 in 2023 which eliminated the concept of troubled debt restructured (“TDR”) loans from GAAP and therefore accruing TDR loans are no longer included in nonperforming loans.

Total criticized loans were $304.7 million at March 31, 2023, up from $261.3 million at December 31, 2022. Year-over-year, total criticized loans decreased 23% from $393.6 million at March 31, 2022.

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Capital

The Company’s capital ratios are strong. At March 31, 2023, 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, 2023, December 31, 2022 and March 31, 2022:

(unaudited)	3/31/2023	12/31/2022	3/31/2022	Minimum Guideline for “Well-Capitalized” Bank
Common Equity Tier 1 Capital	10.75%	10.55%	11.02%	6.50%
Tier 1 Leverage Ratio	10.13%	10.15%	10.37%	5.00%
Tier 1 Risk-Based Ratio	11.36%	11.15%	11.68%	8.00%
Total Risk-Based Ratio	12.25%	11.97%	12.49%	10.00%

Following are the tangible common equity (“TCE”) per share and the TCE as a percentage of tangible assets at March 31, 2023, December 31, 2022, and March 31, 2022:

(unaudited)	3/31/2023	12/31/2022	3/31/2022
Tangible common equity per share (1)	$13.26	$12.96	$13.04
Tangible common equity to tangible assets (1)	7.91%	8.29%	9.05%

__________________

(1) Tangible common equity represents common equity less goodwill and net other intangible assets. Tangible common equity per share represents tangible common equity divided by the number of shares issued and outstanding. Tangible assets represent total assets less goodwill and net other intangible assets. Tangible common equity to tangible assets is the ratio of tangible common equity over tangible assets. Tangible common equity, tangible common equity per share, tangible assets and tangible common equity to tangible assets are non-GAAP financial measures. Management’s reasons and purposes for using these non-GAAP financial measures are set forth in the accompanying financial information on Table Page 9. A quantitative reconciliation of the most directly comparable GAAP to non-GAAP financial measures is provided in the accompanying financial information on Table Page 9.

Convertible Senior Notes

At March 31, 2023, the net balance of the Company’s 2.00% Convertible Senior Notes due 2038 (the “Notes”) was $206.7 million, compared with $217.1 million at December 31, 2022. The Notes have an upcoming optional put date on May 15, 2023. During the 2023 first quarter, the Company made repurchases of its Notes in the aggregate principal amount of $10.7 million. The repurchased Notes were immediately cancelled subsequent to the repurchase. These repurchases are separate from the optional put and were made through a third-party broker.

Non-GAAP Financial Metrics

This news release contains certain non-GAAP financial measure disclosures, including pre-provision net revenue (“PPNR”), ROA (PPNR), ROE (PPNR), tangible common equity, tangible common equity per share, tangible assets and tangible common equity to tangible assets. Management believes these non-GAAP financial measures provide meaningful supplemental information regarding its operational performance and the Company’s and the Bank’s capital levels and has included these figures in response to market participant interest in these financial metrics. A reconciliation of the most directly comparable GAAP to non-GAAP financial measures is provided in the accompanying financial information on Table Page 9.

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Investor Conference Call

The Company previously announced that it will host an investor conference call on Tuesday, April 25, 2023 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, 2023. Investors and analysts are invited to access the conference call by dialing 866-235-9917 (domestic) or 412-902-4103 (international) and asking for the “Hope Bancorp Call.” A presentation to accompany the earnings call will be available at the Investor Relations section of Hope Bancorp’s website at www.ir-hopebancorp.com. Other interested parties are invited to listen to a live webcast of the call available at the Investor Relations section of Hope Bancorp’s website. After the live webcast, a replay will remain available at the Investor Relations section of Hope Bancorp’s website for one year. A telephonic replay of the call will be available at 877-344-7529 (domestic) or 412-317-0088 (international) for one week through May 2, 2023, replay access code 9620853.

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 $20.57 billion in total assets as of March 31, 2023. Headquartered in Los Angeles and serving a multi-ethnic population of customers across the nation, Bank of Hope operates 53 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Alabama and Georgia. The Bank also operates SBA loan production offices in Seattle, Denver, Dallas, Atlanta, Portland, New York City, Northern California and Houston; commercial loan production offices in Northern California, Seattle and Tampa, Fla.; residential mortgage loan production offices in Southern California; and a representative office in Seoul, Korea. Bank of Hope specializes in core business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and commercial lending, SBA lending and international trade financing. Bank of Hope is a California-chartered bank, and its deposits are insured by the FDIC to the extent provided by law. Bank of Hope is an Equal Opportunity Lender. For additional information, please go to bankofhope.com. By including the foregoing website address link, the Company does not intend to and shall not be deemed to incorporate by reference any material contained or accessible therein.

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 business environment in which we operate, projections of future performance, perceived opportunities in the market and statements regarding our business strategies, objectives and vision. Forward-looking statements include, but are not limited to, statements preceded by, followed by or that include the words “will,” “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates” or similar expressions. With respect to any such forward-looking statements, the Company claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. The Company’s actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. The risks and uncertainties include, but are not limited to: possible 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; regulatory risks associated with current and future regulations; and the COVID-19 pandemic and its impact on our financial position, results of operations, liquidity, and capitalization. For additional information concerning these and other risk factors, see the Company’s most recent Annual Report on Form 10-K. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law.

8-8-8 NASDAQ: HOPE

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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Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands, except share data)

Assets:	3/31/2023		12/31/2022		% change		3/31/2022		% change
Cash and due from banks	$	2,212,637	$	506,776	337	%	$	280,373	689	%
Investment securities	2,231,989		2,243,195		—	%	2,492,486		(10)	%
Federal Home Loan Bank (“FHLB”) stock and other investments	59,962		61,761		(3)	%	87,201		(31)	%
Loans held for sale, at the lower of cost or fair value	125,268		49,245		154	%	115,756		8	%
Loans receivable	15,064,849		15,403,540		(2)	%	14,066,674		7	%
Allowance for credit losses	(163,544)		(162,359)		1	%	(147,450)		11	%
Net loans receivable	14,901,305		15,241,181		(2)	%	13,919,224		7	%
Accrued interest receivable	57,021		55,460		3	%	37,949		50	%
Premises and equipment, net	47,887		46,859		2	%	45,642		5	%
Bank owned life insurance	87,842		77,078		14	%	77,390		14	%
Goodwill	464,450		464,450		—	%	464,450		—	%
Servicing assets	11,628		11,628		—	%	10,874		7	%
Other intangible assets, net	5,278		5,726		(8)	%	7,184		(27)	%
Other assets	363,617		401,132		(9)	%	265,285		37	%
Total assets	$	20,568,884	$	19,164,491	7	%	$	17,803,814	16	%
Liabilities:
Deposits	$	15,828,209	$	15,738,801	1	%	$	14,515,128	9	%
FHLB and FRB borrowings	2,130,000		865,000		146	%	772,000		176	%
Convertible notes, net	206,658		217,148		(5)	%	216,444		(5)	%
Subordinated debentures	106,875		106,565		—	%	105,652		1	%
Accrued interest payable	53,818		26,668		102	%	4,826		1,015	%
Other liabilities	184,744		190,981		(3)	%	148,707		24	%
Total liabilities	$	18,510,304	$	17,145,163	8	%	$	15,762,757	17	%
Stockholders’ Equity:
Common stock, $0.001 par value	$	137	$	137	—	%	$	137	—	%
Capital surplus	1,430,977		1,431,003		—	%	1,422,602		1	%
Retained earnings	1,106,390		1,083,712		2	%	976,483		13	%
Treasury stock, at cost	(264,667)		(264,667)		—	%	(250,000)		(6)	%
Accumulated other comprehensive loss, net	(214,257)		(230,857)		7	%	(108,165)		(98)	%
Total stockholders’ equity	2,058,580		2,019,328		2	%	2,041,057		1	%
Total liabilities and stockholders’ equity	$	20,568,884	$	19,164,491	7	%	$	17,803,814	16	%
Common stock shares - authorized	150,000,000		150,000,000				150,000,000
Common stock shares - outstanding	119,865,732		119,495,209				120,327,689
Treasury stock shares	17,382,835		17,382,835				16,343,849

Table Page 1

Hope Bancorp, Inc.

Selected Financial Data

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

	Three Months Ended
	3/31/2023		12/31/2022		% change		3/31/2022		% change
Interest and fees on loans	$	215,935	$	207,958	4	%	$	132,672	63	%
Interest on investment securities	15,125		14,758		2	%	11,656		30	%
Interest on cash and deposits at other banks	6,641		942		605	%	137		4,747	%
Interest on other investments	695		579		20	%	407		71	%
Total interest income	238,396		224,237		6	%	144,872		65	%
Interest on deposits	94,067		63,276		49	%	8,676		984	%
Interest on other borrowings and convertible notes	10,451		10,440		—	%	3,020		246	%
Total interest expense	104,518		73,716		42	%	11,696		794	%
Net interest income before provision (credit) for credit losses	133,878		150,521		(11)	%	133,176		1	%
Provision (credit) for credit losses	1,700		8,200		(79)	%	(11,000)		N/A
Net interest income after provision (credit) for credit losses	132,178		142,321		(7)	%	144,176		(8)	%
Service fees on deposit accounts	2,221		2,159		3	%	1,974		13	%
Net gains on sales of SBA loans	2,225		2,154		3	%	5,603		(60)	%
Net gains on sales of residential mortgage loans	64		20		220	%	757		(92)	%
Other income and fees	6,468		7,777		(17)	%	4,852		33	%
Total noninterest income	10,978		12,110		(9)	%	13,186		(17)	%
Salaries and employee benefits	57,169		52,694		8	%	47,745		20	%
Occupancy	7,521		7,072		6	%	7,335		3	%
Furniture and equipment	5,058		5,045		—	%	4,644		9	%
Data processing and communications	2,822		2,860		(1)	%	2,461		15	%
FDIC assessment	1,781		1,596		12	%	1,569		14	%
Earnings credit rebates	4,427		5,002		(11)	%	476		830	%
Other	11,576		10,249		13	%	11,143		4	%
Total noninterest expense	90,354		84,518		7	%	75,373		20	%
Income before income taxes	52,802		69,913		(24)	%	81,989		(36)	%
Income tax provision	13,681		18,210		(25)	%	21,251		(36)	%
Net income	$	39,121	$	51,703	(24)	%	$	60,738	(36)	%
Earnings Per Common Share - Basic	$	0.33	$	0.43			$	0.51
Earnings Per Common Share - Diluted	$	0.33	$	0.43			$	0.50
Weighted Average Shares Outstanding - Basic	119,551,247		119,483,499				120,131,380
Weighted Average Shares Outstanding - Diluted	120,242,295		120,102,665				121,089,474

Table Page 2

Hope Bancorp, Inc.

Selected Financial Data

Unaudited

	For the Three Months Ended <br>(Annualized)
Profitability measures:	3/31/2023		12/31/2022		3/31/2022
ROA	0.82	%	1.10	%	1.37	%
ROE	7.65	%	10.35	%	11.62	%
ROA (PPNR) (1)	1.14	%	1.66	%	1.60	%
ROE (PPNR) (1)	10.65	%	15.64	%	13.58	%
ROTCE (2)	9.93	%	13.54	%	15.01	%
Net interest margin	3.02	%	3.36	%	3.21	%
Efficiency ratio	62.38	%	51.97	%	51.50	%
Noninterest expense / average assets	1.89	%	1.79	%	1.70	%
(1) ROA (PPNR) and ROE (PPNR) are non-GAAP financial measures. Management’s reasons and purposes for using these non-GAAP financial measures are set forth on Table Page 9 of this earnings release. A quantitative reconciliation of the most directly comparable GAAP to non-GAAP financial measures are provided in the accompanying financial information on Table Page 9.
(2) Average tangible common equity is calculated by subtracting average goodwill and average core deposit intangible assets from average stockholders’ equity. This is a non-GAAP measure that we believe provides investors with information that is useful in understanding our financial performance and position. A quantitative reconciliation of the most directly comparable GAAP to non-GAAP financial measure is provided in the accompanying financial information on Table Page 9.

Table Page 3

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands)

	Three Months Ended
	3/31/2023						12/31/2022						3/31/2022
			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	$	15,235,386	$	215,935	5.75	%	$	15,393,843	$	207,958	5.36	%	$	13,871,974	$	132,672	3.88	%
Investment securities	2,248,479		15,125		2.73	%	2,254,678		14,758		2.60	%	2,621,220		11,656		1.80	%
Interest bearing cash and deposits at <br> other banks	473,344		6,641		5.69	%	66,075		942		5.66	%	284,342		137		0.20	%
FHLB stock and other investments	47,043		695		5.99	%	48,002		579		4.79	%	68,432		407		2.41	%
Total interest earning assets	$	18,004,252	$	238,396	5.37	%	$	17,762,598	$	224,237	5.01	%	$	16,845,968	$	144,872	3.49	%
INTEREST BEARING LIABILITIES:
Deposits:
Money market and interest bearing demand	$	5,341,057	$	43,118	3.27	%	$	5,733,448	$	34,991	2.42	%	$	6,337,866	$	5,701	0.36	%
Savings	256,194		827		1.31	%	297,128		968		1.29	%	318,508		927		1.18	%
Time deposits	5,543,369		50,122		3.67	%	4,276,655		27,317		2.53	%	2,619,491		2,048		0.32	%
Total interest bearing deposits	11,140,620		94,067		3.42	%	10,307,231		63,276		2.44	%	9,275,865		8,676		0.38	%
FHLB and FRB borrowings	676,444		6,698		4.02	%	838,335		6,988		3.31	%	242,556		687		1.15	%
Convertible notes, net	217,114		1,322		2.44	%	217,002		1,322		2.38	%	216,305		1,323		2.45	%
Subordinated debentures	102,791		2,431		9.46	%	102,496		2,130		8.13	%	101,577		1,010		3.98	%
Total interest bearing liabilities	$	12,136,969	$	104,518	3.49	%	$	11,465,064	$	73,716	2.55	%	$	9,836,303	$	11,696	0.48	%
Noninterest bearing demand deposits	4,662,139						5,174,217						5,672,768
Total funding liabilities/cost of funds	$	16,799,108			2.52	%	$	16,639,281			1.76	%	$	15,509,071			0.31	%
Net interest income/net interest spread			$	133,878	1.88	%			$	150,521	2.46	%			$	133,176	3.01	%
Net interest margin					3.02	%					3.36	%					3.21	%
Cost of deposits:
Noninterest bearing demand deposits	$	4,662,139	$	—	—	%	$	5,174,217	$	—	—	%	$	5,672,768	$	—	—	%
Interest bearing deposits	11,140,620		94,067		3.42	%	10,307,231		63,276		2.44	%	9,275,865		8,676		0.38	%
Total deposits	$	15,802,759	$	94,067	2.41	%	$	15,481,448	$	63,276	1.62	%	$	14,948,633	$	8,676	0.24	%

Table Page 4

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands)

	Three Months Ended
AVERAGE BALANCES:	3/31/2023		12/31/2022		% change		3/31/2022		% change
Loans, including loans held for sale	$	15,235,386	$	15,393,843	(1)	%	$	13,871,974	10	%
Investments	2,768,866		2,368,755		17	%	2,973,994		(7)	%
Interest earning assets	18,004,252		17,762,598		1	%	16,845,968		7	%
Total assets	19,087,170		18,863,726		1	%	17,742,402		8	%
Interest bearing deposits	11,140,620		10,307,231		8	%	9,275,865		20	%
Interest bearing liabilities	12,136,969		11,465,064		6	%	9,836,303		23	%
Noninterest bearing demand deposits	4,662,139		5,174,217		(10)	%	5,672,768		(18)	%
Stockholders’ equity	2,046,159		1,997,460		2	%	2,090,755		(2)	%
Net interest earning assets	5,867,283		6,297,534		(7)	%	7,009,665		(16)	%
LOAN PORTFOLIO COMPOSITION:	3/31/2023		12/31/2022		% change		3/31/2022		% change
Commercial loans	$	4,821,270	$	5,109,532	(6)	%	$	4,124,715	17	%
Real estate loans	9,373,529		9,414,580		—	%	9,262,305		1	%
Consumer and other loans	870,050		879,428		(1)	%	679,654		28	%
Loans, net of deferred loan fees and costs	15,064,849		15,403,540		(2)	%	14,066,674		7	%
Allowance for credit losses	(163,544)		(162,359)		1	%	(147,450)		11	%
Loans receivable, net	$	14,901,305	$	15,241,181	(2)	%	$	13,919,224	7	%
REAL ESTATE LOANS BY PROPERTY TYPE:	3/31/2023		12/31/2022		% change		3/31/2022		% change
Multi-tenant retail	$	1,817,874	$	1,866,434	(3)	%	$	1,851,150	(2)	%
Hotels/motels	900,990		952,579		(5)	%	1,208,217		(25)	%
Gas stations and car washes	1,046,528		1,054,720		(1)	%	1,055,383		(1)	%
Mixed-use facilities	818,227		848,417		(4)	%	872,362		(6)	%
Industrial warehouses	1,309,763		1,294,893		1	%	1,263,791		4	%
Multifamily	1,302,597		1,295,644		1	%	841,316		55	%
Single-tenant retail	706,593		718,977		(2)	%	747,223		(5)	%
Office	464,703		473,459		(2)	%	442,944		5	%
All other	1,006,254		909,457		11	%	979,919		3	%
Total real estate loans	$	9,373,529	$	9,414,580	—	%	$	9,262,305	1	%
DEPOSIT COMPOSITION	3/31/2023		12/31/2022		% change		3/31/2022		% change
Noninterest bearing demand deposits	$	4,504,621	$	4,849,493	(7)	%	$	5,498,263	(18)	%
Money market and interest bearing demand	4,331,998		5,615,784		(23)	%	6,484,677		(33)	%
Saving deposits	231,704		283,464		(18)	%	321,373		(28)	%
Time deposits	6,759,886		4,990,060		35	%	2,210,815		206	%
Total deposits	$	15,828,209	$	15,738,801	1	%	$	14,515,128	9	%

Table Page 5

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands)

CAPITAL RATIOS:	3/31/2023			12/31/2022			3/31/2022
Total stockholders’ equity	$	2,058,580		$	2,019,328		$	2,041,057
Common equity tier 1 ratio	10.75		%	10.55		%	11.02		%
Tier 1 risk-based capital ratio	11.36		%	11.15		%	11.68		%
Total risk-based capital ratio	12.25		%	11.97		%	12.49		%
Tier 1 leverage ratio	10.13		%	10.15		%	10.37		%
Total risk weighted assets	$	16,886,343		$	17,049,410		$	15,393,639
Book value per common share	$	17.17		$	16.90		$	16.96
Tangible common equity to tangible assets (1)	7.91		%	8.29		%	9.05		%
Tangible common equity per share (1)	$	13.26		$	12.96		$	13.04
(1) Tangible common equity to tangible assets is a non-GAAP financial measure that represents common equity less goodwill and core deposit intangible assets, net divided by total assets less goodwill and core deposit intangible assets, net. Management reviews tangible common equity to tangible assets in evaluating the Company’s capital levels and has included this ratio in response to market participant interest in tangible common equity as a measure of capital. A quantitative reconciliation of the most directly comparable GAAP to non-GAAP financial measures are provided in the accompanying financial information on Table Page 10.
	Three Months Ended
ALLOWANCE FOR CREDIT LOSSES CHANGES:	3/31/2023			12/31/2022			9/30/2022			6/30/2022			3/31/2022
Balance at beginning of period	$	162,359		$	160,561		$	151,580		$	147,450		$	140,550
ASU 2022-02 day 1 adoption impact	(407)			—			—			—			—
Provision (credit) for credit losses	1,700			8,200			9,200			3,200			(11,000)
Recoveries	387			3,222			331			1,642			19,403
Charge offs	(495)			(9,624)			(550)			(712)			(1,503)
Balance at end of period	$	163,544		$	162,359		$	160,561		$	151,580		$	147,450
Net charge offs (recoveries)/average loans receivable (annualized)	—		%	0.17		%	0.01		%	(0.03)		%	(0.52)		%
	3/31/2023			12/31/2022			9/30/2022			6/30/2022			3/31/2022
Allowance for unfunded loan commitments	$	2,971		$	1,351		$	1,231		$	1,481		$	1,301
	Three Months Ended
NET LOAN CHARGE OFFS (RECOVERIES):	3/31/2023			12/31/2022			9/30/2022			6/30/2022			3/31/2022
Real estate loans	$	(109)		$	2,022		$	9		$	(508)		$	(16,418)
Commercial loans	196			4,174			115			(461)			(1,529)
Consumer loans	21			206			95			39			47
Total net charge offs (recoveries)	$	108		$	6,402		$	219		$	(930)		$	(17,900)

Table Page 6

Hope Bancorp, Inc.

Selected Financial Data

Unaudited (dollars in thousands)

NONPERFORMING ASSETS:			12/31/2022			9/30/2022			6/30/2022			3/31/2022
Loans on nonaccrual status (1)	78,861		$	49,687		$	64,571		$	69,522		$	52,717
Delinquent loans 90 days or more on accrual status			401			5,306			12,468			3,090
Accruing troubled debt restructured loans (2)			16,931			25,631			26,572			44,555
Total nonperforming loans			67,019			95,508			108,562			100,362
Other real estate owned			2,418			1,480			2,010			2,010
Total nonperforming assets	80,163		$	69,437		$	96,988		$	110,572		$	102,372
Nonperforming assets/total assets		%	0.36		%	0.51		%	0.61		%	0.58		%
Nonperforming assets/loans receivable & OREO		%	0.45		%	0.63		%	0.76		%	0.73		%
Nonperforming assets/total capital		%	3.44		%	4.91		%	5.53		%	5.02		%
Nonperforming loans/loans receivable		%	0.44		%	0.62		%	0.75		%	0.71		%
Nonaccrual loans/loans receivable		%	0.32		%	0.42		%	0.48		%	0.37		%
Allowance for credit losses/loans receivable		%	1.05		%	1.04		%	1.04		%	1.05		%
Allowance for credit losses/nonaccrual loans		%	326.76		%	248.66		%	218.03		%	279.70		%
Allowance for credit losses/nonperforming loans		%	242.26		%	168.11		%	139.63		%	146.92		%
Allowance for credit losses/nonperforming assets		%	233.82		%	165.55		%	137.09		%	144.03		%
(1) Excludes delinquent SBA loans that are guaranteed and currently in liquidation totaling 7.6 million, 9.8 million, 9.9 million, 13.2 million, and 17.0 million, at March 31, 2023, December 31, 2022, September 30, 2022, June 30, 2022, and March 31, 2022, respectively.
(2) The Company adopted ASU 2022-02 in 2023 which eliminated the concept of TDR from GAAP and therefore accruing TDR loans are no longer included in nonperforming loans.
NONACCRUAL LOANS BY TYPE:			12/31/2022			9/30/2022			6/30/2022			3/31/2022
Real estate loans	44,376		$	33,915		$	47,807		$	53,966		$	36,655
Commercial loans			5,620			7,675			8,206			8,686
Consumer loans			10,152			9,089			7,350			7,376
Total	78,861		$	49,687		$	64,571		$	69,522		$	52,717

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:	3/31/2023		12/31/2022		9/30/2022		6/30/2022		3/31/2022
30 - 59 days	$	7,662	$	7,049	$	13,092	$	10,090	$	12,439
60 - 89 days	249		2,243		4,933		6,354		3,090
Total	$	7,911	$	9,292	$	18,025	$	16,444	$	15,529
ACCRUING DELINQUENT LOANS 30-89 DAYS PAST DUE BY TYPE:	3/31/2023		12/31/2022		9/30/2022		6/30/2022		3/31/2022
Real estate loans	$	3,652	$	4,115	$	9,694	$	7,919	$	6,097
Commercial loans	419		3,300		6,165		3,397		5,003
Consumer loans	3,840		1,877		2,166		5,128		4,429
Total	$	7,911	$	9,292	$	18,025	$	16,444	$	15,529
CRITICIZED LOANS:	3/31/2023		12/31/2022		9/30/2022		6/30/2022		3/31/2022
Special mention	$	166,472	$	157,263	$	79,399	$	95,797	$	166,958
Substandard	138,224		104,073		204,713		244,748		226,661
Total criticized loans	$	304,696	$	261,336	$	284,112	$	340,545	$	393,619

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. A reconciliation of the most directly comparable GAAP to non-GAAP financial measures utilized by management is provided below.
	Three Months Ended
RETURN ON AVERAGE TANGIBLE COMMON EQUITY	3/31/2023			12/31/2022			3/31/2022
Average stockholders’ equity	$	2,046,159		$	1,997,460		$	2,090,755
Less: Average goodwill and core deposit intangible assets, net	(469,992)			(470,442)			(471,921)
Average tangible common equity	$	1,576,167		$	1,527,018		$	1,618,834
Net income	$	39,121		$	51,703		$	60,738
Return on average tangible common equity (annualized)	9.93		%	13.54		%	15.01		%
TANGIBLE COMMON EQUITY	3/31/2023			12/31/2022			3/31/2022
Total stockholders’ equity	$	2,058,580		$	2,019,328		$	2,041,057
Less: Goodwill and core deposit intangible assets, net	(469,728)			(470,176)			(471,634)
Tangible common equity	$	1,588,852		$	1,549,152		$	1,569,423
Total assets	$	20,568,884		$	19,164,491		$	17,803,814
Less: Goodwill and core deposit intangible assets, net	(469,728)			(470,176)			(471,634)
Tangible assets	$	20,099,156		$	18,694,315		$	17,332,180
Common shares outstanding	119,865,732			119,495,209			120,327,689
Tangible common equity to tangible assets	7.91		%	8.29		%	9.05		%
Tangible common equity per share	$	13.26		$	12.96		$	13.04
	Three Months Ended
PRE-PROVISION NET REVENUE	3/31/2023			12/31/2022			3/31/2022
Net interest income before provision (credit) for credit losses	$	133,878		$	150,521		$	133,176
Noninterest income	10,978			12,110			13,186
Revenue	144,856			162,631			146,362
Less noninterest expense	90,354			84,518			75,373
Pre-provision net revenue	$	54,502		$	78,113		$	70,989
Average assets	$	19,087,170		$	18,863,726		$	17,742,402
ROA (PPNR)	1.14		%	1.66		%	1.60		%
Average stockholders’ equity	2,046,159			1,997,460			2,090,755
ROE (PPNR)	10.65		%	15.64		%	13.58		%

Table Page 9

hope-q12023ccslides

2023 First Quarter Earnings Conference Call Tuesday, April 25, 2023

Forward Looking Statements & Additional Disclosures This presentation may contain statements regarding future events or the future financial performance of Hope Bancorp, Inc. (the “Company”) that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements relate to, among other things, expectations regarding the business environment in which we operate, projections of future performance, perceived opportunities in the market, and statements regarding our business strategies, objectives and vision. Forward-looking statements include, but are not limited to, statements preceded by, followed by or that include the words “will,” “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates” or similar expressions. With respect to any such forward-looking statements, the Company claims the protection provided for in the Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties. The Company’s actual results, performance or achievements may differ significantly from the results, performance or achievements expressed or implied in any forward-looking statements. The risks and uncertainties include, but are not limited to: possible 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, regulatory risks associated with current and future regulations; and the COVID-19 pandemic and its impact on our financial position, results of operations, liquidity, and capitalization. For additional information concerning these and other risk factors, see the Company’s most recent Annual Report on Form 10-K. The Company does not undertake, and specifically disclaims any obligation, to update any forward-looking statements to reflect the occurrence of events or circumstances after the date of such statements except as required by law. 2

Strong Capital & Available Liquidity • Company’s total risk-based capital ratio was 12.25% at 3/31/23, +28 bps Q-o-Q • Book value per share of $17.17 and tangible common equity per share of $13.26 at 3/31/23, both +2% Q-o-Q • Avail. borrowing capacity, cash & cash equivalents, & unpledged investment securities: $8.0B, or 50% of deposits, at 3/31/23 Loans • New loan production for 1Q23 totaled $569MM • Loans receivable of $15.1B at 3/31/23, -2% Q-o-Q and +7% Y-o-Y Asset Quality • Asset quality continues to be healthy • Minimal net charge offs in 1Q23: only $108 thousand • Nonperforming assets ratio: 0.39% of total assets at 3/31/23, compared with 0.36% at 12/31/22 Deposits • Deposits of $15.8B at 3/31/23, +1% Q-o-Q and +9% Y-o-Y • Granular deposit base with 34% of deposits in consumer accounts • Bank’s uninsured deposits ratio improved to 38% at 3/31/23, compared with 41% at 12/31/22 Earnings & Profitability • 1Q23 net income: $39.1MM, or $0.33 per diluted share • 1Q23 ROA of 0.82%, ROE of 7.65%, ROTCE1 of 9.93% • 1Q23 Pre-provision net revenue1 (PPNR) of $54.5MM, ROA (PPNR)1 of 1.14%, ROE (PPNR)1 of 10.65% Q1 2023 Financial Highlights Total Risk-Based Capital 12.25% NCO Ratio 0.00% Gross Loans $15.1B Total Deposits $15.8B (as of 3/31/23) (as of 3/31/23) 3 Net Income/EPS $39.1MM/$0.33 (as of 3/31/23) (1Q23 annualized) (1Q23) 1 ROTCE, PPNR, ROA (PPNR) and ROE (PPNR) are non-GAAP financial measures. A quantitative reconciliation of the most directly comparable GAAP to non-GAAP financial measure is provided on Slide 20.

Strong Capital Ratios Common Equity Tier 1 Capital Ratio • Holding Company Common Equity Tier 1 and Total Risk-based Capital ratios increased Q-o-Q. All regulatory capital ratios meaningfully above requirements for “well- capitalized” financial institutions. Holding Company total risk-based capital ratio of 12.25% and Bank-level total risk-based capital ratio of 12.06% at 3/31/23 • Proforma capital very strong: Adjustments for the allowance for credit losses and hypothetical adjustments for investment security marks not otherwise already reflected in equity, still results 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 5.70% (3/31/23) • No buybacks during 1Q23 Tangible Common Equity Ratio1 Total Risk-based Capital Ratio Leverage Ratio 4 Well Capitalized 6.50% Well Capitalized 10.00% Well Capitalized 5.00% 1 Tangible common equity per share and Tangible common equity ratio are non-GAAP financial measures. A quantitative reconciliation of the most directly comparable GAAP to non-GAAP financial measure is provided on Slide 20. * Proforma ratios as of 3/31/23 are non-GAAP financial measures and reflect (a) inclusion of on- and off-balance sheet allowance not already in capital; (b) treatment of HTM securities as if they were AFS, with unrealized losses in AOCI; and (c) removal of the AOCI opt-out in calculating regulatory capital.

Strong Balance Sheet & Liquidity Position 5 • Significant increase in cash and cash equivalents to $2.2B at 3/31/23, up from $507MM at 12/31/22, reflected conservative approach to liquidity risk management, in response to the banking industry disruption in mid-March 2023 • Increase in on-balance sheet liquidity largely funded through the Bank Term Funding Program: $1.4B outstanding at 3/31/23, carrying weighted average rate of 4.49%. Positive carry and contribution to net interest income • Available borrowing capacity, cash and cash equivalents, and unpledged investment securities increased to $8.0B at 03/31/23 (50% of total deposits), up from $7.2B at 12/31/22 (46% of deposits) • Securities portfolio represented 11% of total assets at 3/31/23, 88% of which was available-for-sale. Primarily fixed-rate portfolio, yielding 2.6% with an effective duration of 5.5 at 3/31/23 • Company repurchased $11MM of its Convertible Senior Notes during 1Q23. Net balance was $207MM at 3/31/23. Even after the expected cash payoff of remaining convertible notes with the upcoming put option date in May 2023, the Bank and Holding Company's liquidity and capital positions will remain strong At March 31, 2023 ($ in millions) Amortized Cost Fair Value Net Unrealized Gain/(Loss) Available-for-sale (“AFS”) $ 2,246 $ 1,960 $ (286) Held-to-maturity (“HTM”) $ 272 $ 263 $ (9) Total Investment Securities Portfolio $ 2,518 $ 2,223 $ (295) Unpledged Securities $0.4 FHLB Capacity $4.5 FRB Capacity $0.5 Fed Fund Lines at Other Banks $0.4 Cash and Cash Equivalents $2.2 $8.0B Available Borrowing Capacity, Cash & Cash Equivalents, and Unpledged Investment Securities (as of 3/31/23) ($ Billions) Investment Securities Portfolio

Granular Deposit Base 6 Noninterest Bearing Demand Deposits 28% Money Market and Interest Bearing Demand 27% Savings 2% Time Deposits 43% $15.8B Total Deposits (as of 3/31/23) Consumer 34% Commercial 66% • Average commercial deposit account size: approx. $300,000 • Average consumer deposit account size: approx. $50,000 • Total deposits of $15.8B at 3/31/23, +1% Q-o-Q and +9% Y-o-Y • Bank’s insured or otherwise collateralized deposits totaled $9.9B at 3/31/23. Bank’s uninsured deposit ratio improved to 38% at 3/31/23, from 41% at 12/31/22 Deposit Composition by Deposit Type Granular Deposit Portfolio $15.8B Total Deposits (as of 3/31/23)

New Loan Production New Loan Originations Funded ($ Millions) 578 545 534 324 201 344 557 747 432 350 104 184 68 37 18 1Q22 2Q22 3Q22 4Q22 1Q23 CRE C&I Mortgage and Consumer $569 $1,026 $1,286 $793 $1,349 • New loan production balanced between commercial and industrial (“C&I”) and commercial real estate (“CRE”) • C&I production volume accounted for 61% in 1Q23 7 3.54% 4.26% 5.37% 6.71% 7.53% 0.29% 0.94% 2.35% 3.82% 4.69% 1Q22 2Q22 3Q22 4Q22 1Q23 Avg Rate of New Loans Avg Fed Funds Rate Average Yield on New Loan Production • Average yield of new loans +82 bps Q-o-Q to 7.53%, and +399 bps Y-o-Y

Loan Portfolio Composition 8 Owner- Occupied CRE 19% Nonowner-Occupied CRE 43% C&I 32% Consumer 6% $15.1B Loans Receivable (as of 3/31/23) $0.9B Avg Size: $0.6MM $3.0B Avg Size: $2.0MM$6.4B Avg Size: $1.8MM $4.8B Avg Size: $1.6MM • Loan portfolio well-diversified across major loan types of CRE, C&I, owner-occupied CRE, and consumer. Consumer portfolio predominantly residential mortgage • Total loans receivable of $15.1B at 3/31/23: -2% Q-o-Q and +7% Y-o-Y • Aggregate payoffs and paydowns relatively stable: $717MM in 1Q23 vs. $734MM in 4Q22 • C&I portfolio well-diversified by industry – C&I loans outstanding of $4.8B at 3/31/23: -6% Q-o-Q and +17% Y-o-Y – Utilization rate of C&I loan commitments: 58% at 3/31/23 vs. 64% at 12/31/22, driven by decrease in warehouse line utilization

Diversified Commercial Real Estate Portfolio Multi-tenant Retail 19% Industrial & Warehouse 14% Multifamily 14% Gas Station & Car Wash 11% Hotel & Motel 10% Mixed Use 9% Single-tenant Retail 8% Office 5% All Others 10% $9.4B CRE Portfolio (as of 3/31/23) CRE Portfolio by Property Type Portfolio Size ($ Millions) As of 3/31/23 Average Loan Size ($ Millions) Weighted Average LTV 1 As a % of CRE Portfolio As a % of Total Portfolio Multi-tenant Retail $ 1,818 19% 12% $ 2.2 51.7% Industrial & Warehouse $ 1,310 14% 9% $ 2.2 53.9% Multifamily $ 1,303 14% 9% $ 2.3 55.4% Gas Station & Car Wash $ 1,047 11% 7% $ 1.7 59.5% Hotel/Motel $ 901 10% 6% $ 2.0 53.9% Mixed Use $ 818 9% 5% $ 1.6 48.6% Single-tenant Retail $ 706 8% 5% $ 1.3 56.4% Office $ 465 5% 3% $ 2.3 54.6% All Other $ 1,006 10% 6% $ 1.5 45.2% Total CRE Portfolio $ 9,374 $ 1.9 53.3% • CRE loans outstanding of $9.4B at 3/31/23, flat Q-o-Q and up 1% Y-o-Y • CRE portfolio well-diversified by property type • Vast majority of CRE loans have full recourse and personal guarantees • CRE Office: only 3% of total loans at 3/31/23, with no central business district exposure 1 Weighted average LTV is based on most recent LTV, using most recent available appraisal and current loan balance. 9 53.3% Weighted Avg. LTV

Loan Size (as of 3/31/23) Balance ($ Millions) # Loans Average Loan Size ($ Millions) Weighted Average LTV 1 > $30MM $ 328 8 $ 40.7 60.7% $20MM - $30MM $ 640 26 $ 24.4 57.1% $10MM - $20MM $ 1,249 91 $ 13.6 59.4% $5MM - $10MM $ 1,791 260 $ 6.8 54.5% $2MM - $5MM $ 2,715 870 $ 3.1 52.5% < $2MM $ 2,651 3,684 $ 0.7 48.9% Total CRE Portfolio $ 9,374 4,939 $ 1.9 53.3% Granular Commercial Real Estate Portfolio with Low LTV 10 CRE Portfolio by Size Segment 1 Weighted average LTV is based on most recent LTV, using most recent available appraisal and current loan balance. • Low loan-to-value (“LTV”) is consistent across segments by size and segments by property type • Only 7% of CRE portfolio had an LTV of over 70%, of which only 1% had an LTV of over 75% < 50%: 36% > 50% - 55%: 13% > 55% - 60%: 13% > 60% - 65%: 16% > 65% - 70%: 15% > 70% - 75%: 6% > 75%: 1% 53.3% Weighted Avg. LTV (as of 3/31/23) Total CRE: Distribution by LTV (ex. SBA)

Net Interest Income & Margin 11 • 1Q23 NII of $134MM, -11% Q-o-Q, driven by higher cost of deposits, partially offset by earning asset yield expansion and average earning asset growth of +1% Q-o-Q • Q-o-Q average earning asset growth reflected growth in interest earning cash & equivalents Net Interest Income (“NII”) & Net Interest Margin (“NIM”) ($ Millions) $133 $142 $153 $151 $134 3.21% 3.36% 3.49% 3.36% 3.02% 1Q22 2Q22 3Q22 4Q22 1Q23 3.02% 3.36% Loan yield increase +33bps 1Q23 net interest margin change: -34bps Q-o-Q Net Interest Income NIM Increase Decrease Total Q-o-Q change +8% -2% -11%+6% Q-o-Q Change in Net Interest Margin 4Q22 1Q23 -72bps • 1Q23 NIM of 3.02%, -34 bps Q-o-Q, driven by higher cost of interest bearing (“IB”) funds and funding mix shift, partially offset by expanding loan and other earning asset yields, and growth in interest earning cash & equivalents Inv securities yield increase + cash balance increase +7bps IB funding cost increase + balance increase -2bps Loan balance decrease

Average Loan Growth Trends & Yields 12 • 1Q23 average loans receivable of $15.2B, -1% Q-o-Q and +10% Y-o-Y $13.9 $14.3 $14.9 $15.4 $15.2 12.25 12.75 13.25 13.75 14.25 14.75 15.25 15.75 1Q22 2Q22 3Q22 4Q22 1Q23 Average Loans Receivable ($ Billions) Q-o-Q change +3% +3% +4% -1% 3.88% 4.06% 4.65% 5.36% 5.75% 0.29% 0.94% 2.35% 3.82% 4.69% 1Q22 2Q22 3Q22 4Q22 1Q23 Avg Loan Yield Avg Fed Funds Rate Average Loan Yield Relative to Fed Funds • 1Q23 average loan yield of 5.75%, +399 bps Q-o-Q and +187 bps Y-o-Y

Average Deposit Growth Trends & Costs 13 Average Cost of DepositsAverage Deposits ($ Billions) 9.3 9.1 9.7 10.3 11.1 5.7 5.7 5.7 5.2 4.7 1Q22 2Q22 3Q22 4Q22 1Q23 Average Interest Bearing Deposits Average Noninterest Bearing Deposits $15.5$15.4$14.8$14.9 $15.8 • 1Q23 total cost of deposits of 2.41%, +79 bps Q-o-Q and +217 bps Y-o-Y, due to rapid pace of Fed Funds rate hikes, customer preferences for higher yields in a rising interest rate environment, and the banking industry disruption in mid-March • 1Q23 average deposits of $15.8B, +2% Q-o-Q and +6% Y-o-Y • Growth in IB deposits reflected customer behavior changes in a higher interest rate environment 0.24% 0.33% 0.79% 1.62% 2.41% 0.38% 0.54% 1.25% 2.44% 3.42% 0.29% 0.94% 2.35% 3.82% 4.69% 1Q22 2Q22 3Q22 4Q22 1Q23 Total Cost of Deposits Cost of Interest Bearing Deposits Avg Fed Funds Rate Q-o-Q change +0% -1% +4% +2%

Noninterest Income 14 • 1Q23 noninterest income of $11MM, -9% Q-o-Q – Q-o-Q growth in deposit service fees and net gains on SBA loan sales – Other income and fees decreased Q-o-Q • Sold $41MM of the guaranteed portion of SBA 7(a) loans to the secondary market in 1Q23 vs. $41MM in 4Q22 • Sold $7MM of residential mortgage loans in 1Q23 vs. $3.5MM in 4Q22 2.0 2.3 2.6 2.1 2.2 6.4 5.9 2.8 2.2 2.3 4.8 4.5 8.0 7.8 6.5 1Q22 2Q22 3Q22 4Q22 1Q23 Service Fees on Deposit Accounts Net Gains on Loan Sales Other Income and Fees $11.0 $13.2 $12.7 $13.4 $12.1 Noninterest Income ($ Millions) 1 Net gains on loan sales comprise net gains on sales of SBA and residential mortgage loans. 1

47.7 51.1 53.2 52.7 57.2 12.0 12.0 11.6 12.1 12.61.6 1.5 1.6 1.6 1.814.1 15.8 17.5 18.1 18.8 1Q22 2Q22 3Q22 4Q22 1Q23 Salary and employee benefits Occupancy and furniture FDIC Assessment All Other Expenses Efficiency Ratio & Noninterest Expense to Average Assets 51.5% 52.1% 50.4% 52.0% 62.4% 1.70% 1.80% 1.82% 1.79% 1.89% 1Q22 2Q22 3Q22 4Q22 1Q23 Efficiency Ratio Noninterest Expense/Avg Assets (annualized) Noninterest Expense & Efficiency 15 $75.4 $80.4 $83.9 $84.5 $90.4 Noninterest Expense ($ Millions) • 1Q23 noninterest expense of $90MM, +7% from $85MM in 4Q22 – Q-o-Q increase largely driven by salary and employee benefits expense, typically higher in Q1 due to payroll taxes and related expenses – 1Q23 included $1.7MM of severance charges due to staffing rationalization. Full-time employees of 1,467 at 3/31/23, vs. 1,549 at 12/31/22. Staffing adjustments expected to result in $12MM of annualized cost savings – Excluding severance charges, adjusted salaries and employee benefits expense would have grown +5% Q-o-Q (vs. +8% unadjusted). Total noninterest expense would have been up +5% (vs. +7% unadjusted) • 1Q23 other expense included $1.6MM in provision for unfunded commitments

$147 $152 $161 $162 $164 1.05% 1.04% 1.04% 1.05% 1.09% 1Q22 2Q22 3Q22 4Q22 1Q23 ACL ACL Coverage Ratio • Asset quality continues to be healthy • Q-o-Q build in allowance for credit losses to $164MM. Coverage ratio increased to 1.09% at 3/31/23, up from 1.05% at 12/31/22 • Minimal net charge offs of $108 thousand in 1Q23, or 0.0% of average loans receivable, annualized • NPA ratio of 0.39% at 3/31/23, vs. 0.36% at 12/31/22. NPAs were $80MM at 3/31/23, vs. $69MM at 12/31/22 – NPAs included nonaccrual loans of $79MM at 3/31/23, compared with $50MM at 12/31/22 – Q-o-Q change primarily attributable to one $18.5MM commercial loan, which is fully secured. Expected resolve by mid-year with minimal risk of loss • Criticized loans ratio of 2.02% at 3/31/23, vs. 1.70% at 12/31/22. Total criticized loans were $305MM at 3/31/23, vs. $261MM at 12/31/22 Asset Quality Metrics 16 Provision (Credit) for Credit Losses & Net Charge Offs (Recoveries) Nonperforming Assets (“NPA”) RatioAllowance for Credit Losses (“ACL”) & Coverage Ratio Criticized Loans Ratio -$11.0 $3.2 $9.2 $8.2 $1.7 -$17.9 -$0.9 $0.2 $6.4 $0.1 -0.52% -0.03% 0.01% 0.17% 0.00% 1Q22 2Q22 3Q22 4Q22 1Q23 Provision for Credit Losses Net Charge Offs (Recoveries) NCO Ratio (annualized) 2.80% 2.34% 1.83% 1.70% 2.02% 1Q22 2Q22 3Q22 4Q22 1Q23 Total Criticized Loans as a % of Total Loans ($ Millions, except ratios) ($ Millions, except ratios) 0.58% 0.61% 0.51% 0.36% 0.39% 1Q22 2Q22 3Q22 4Q22 1Q23 NPAs/Total Assets

Management Outlook  Loan Growth: Full-year loan growth projected in the low-single digit range  Net Interest Income: Expecting to decline in 2Q23 due to higher cost of funds at the end of 1Q23. Anticipating stable-to-modestly increasing NII in 2H23  Noninterest Income: Expecting modest quarterly growth for rest of year  Noninterest Expenses: Focused on improving profitability and efficiency. Expecting quarterly improvement in efficiency, driven in part by cost savings from the 1Q23 staffing rationalization  Pre-tax, Pre-provision Revenue (PPNR)*: Expecting growth in 2H23, driven by stable to growing net interest income, modest fee income growth, and improving efficiency  Asset Quality: Generally stable, consistent with current trends. Expecting modest allowance build for remainder of 2023 17 * PPNR is a non-GAAP financial measure. A quantitative reconciliation of the most directly comparable GAAP to non-GAAP financial measure is provided on Slide 20.

Q&A 2023 First Quarter Earnings Conference Call 18

Appendix 19

($ in thousands) 1Q22 4Q22 1Q23 Total stockholders’ equity $ 2,041,057 $ 2,019,328 $ 2,058,580 Less: Goodwill and core deposit intangible assets, net (471,634) (470,176) (469,728) Tangible common equity $ 1,569,423 $ 1,549,152 $ 1,588,852 Total assets $ 17,803,814 $ 19,164,491 $ 20,568,884 Less: Goodwill and core deposit intangible assets, net (471,634) (470,176) (469,728) Tangible assets $ 17,332,180 $ 18,694,315 $ 20,099,156 Common shares outstanding 120,327,689 119,495,209 119,865,732 Tangible common equity to tangible assets 9.05% 8.29% 7.91% Tangible common equity per share $ 13.04 $ 12.96 $ 13.26 Appendix: Non-GAAP Financials Management reviews select non-GAAP financial measures in evaluating the Company’s financial performance and in response to market participant interest. A reconciliation of the most directly comparable GAAP to non-GAAP financial measures utilized by management is provided below. Pre-provision Net Revenue (PPNR) ($ in thousands) 1Q22 4Q22 1Q23 Net interest income before provision (credit) for credit losses $ 133,176 $ 150,521 $ 133,878 Noninterest income 13,186 12,110 10,978 Revenue 146,362 162,631 144,856 Less: noninterest expense 75,373 84,518 90,354 Pre-provision net revenue $ 70,989 $ 78,113 $ 54,502 Average assets $ 17,742,402 $ 18,863,726 $ 19,087,170 ROA (PPNR) 1.60% 1.66% 1.14% Average Stockholders’ equity $ 2,090,755 1,997,460 $ 2,046,159 ROE (PPNR) 13.58% 15.64% 10.65% Tangible Common Equity ($ in thousands) 1Q22 4Q22 1Q23 Average stockholders’ equity $ 2,090,755 $ 1,997,460 $ 2,046,159 Less: Average goodwill and core deposit intangible assets, net (471,921) (470,442) (469,992) Average Tangible common equity $ 1,618,834 $ 1,527,018 $ 1,576,167 Net income $ 60,738 $ 51,703 $ 39,121 Return on average tangible common equity 15.01% 13.54% 9.93% Return on Average Tangible Common Equity (ROTCE) 20

Document

News Release

HOPE BANCORP DECLARES QUARTERLY CASH DIVIDEND OF $0.14 PER SHARE

LOS ANGELES - April 24, 2023 - Hope Bancorp, Inc. (NASDAQ: HOPE) today announced that its Board of Directors declared a quarterly cash dividend of $0.14 per common share. The dividend is payable on or about May 18, 2023 to all stockholders of record as of the close of business on May 4, 2023.

Investor Conference Call

About Hope Bancorp, Inc.

Hope Bancorp, Inc. is the holding company of Bank of Hope, the first and only super regional Korean American bank in the United States with $20.57 billion in total assets as of March 31, 2023. Headquartered in Los Angeles and serving a multi-ethnic population of customers across the nation, Bank of Hope operates 53 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Alabama and Georgia. The Bank also operates SBA loan production offices in Seattle, Denver, Dallas, Atlanta, Portland, Oregon, New York City, Northern California and Houston; commercial loan production offices in Northern California, Seattle and Tampa, Fla.; residential mortgage loan production offices in Southern California; and a representative office in Seoul, Korea. Bank of Hope specializes in core business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and commercial lending, SBA lending and international trade financing. Bank of Hope is a California-chartered bank, and its deposits are insured by the FDIC to the extent provided by law. Bank of Hope is an Equal Opportunity Lender. For additional information, please go to bankofhope.com. By including the foregoing website address link, the Company does not intend to and shall not be deemed to incorporate by reference any material contained or accessible therein.

Contacts:

Angie Yang

SVP, Director of Investor Relations & Corporate Communications

213-251-2219

angie.yang@bankofhope.com