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Mar 31, 2022
Hope Bancorp Q1 2022 Earnings Report
Hope Bancorp's financial performance was strong, marked by increased net income and loan originations.
Key Takeaways
Hope Bancorp reported a strong first quarter with net income increasing by 18% to $60.7 million. Loan originations reached a record first quarter high of $1.03 billion, and asset quality improved significantly with a decrease in nonperforming assets and criticized loans.
Net income increased 18% quarter-over-quarter to $60.7 million, or $0.50 per diluted common share.
Loan originations totaled $1.03 billion, a record first quarter high, up 21% year-over-year.
Asset quality improved with total nonperforming assets decreasing 8.4% and criticized loans decreasing 21.2%.
The company recorded a negative provision for credit losses of $11.0 million due to significant reductions in criticized loans and a large net recovery.
Forward Guidance
The company is well positioned to deliver a strong year of new loan production, leading to enhanced growth in earnings and shareholder returns.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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