Hope Bancorp Q1 2023 Earnings Report

Hope Bancorp reported a net income of $39.1 million, or $0.33 per diluted common share, for the first quarter ended March 31, 2023.

Key Takeaways

Hope Bancorp's Q1 2023 results showed a net income of $39.1 million, with a focus on maintaining a strong balance sheet and high capital and liquidity levels. Deposits grew, capital ratios remained strong, and asset quality was healthy amidst banking industry volatility.

Total risk-based capital ratio was 12.25% at March 31, 2023, up 28 basis points quarter-over-quarter.

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

Cash and cash equivalents increased to $2.21 billion at March 31, 2023, up from $506.8 million as of December 31, 2022.

First quarter 2023 loan originations totaled $568.7 million.