Hope Bancorp Q2 2023 Earnings Report

Reported financial results for the second quarter of 2023.

Key Takeaways

Hope Bancorp reported a net income of $38.0 million, or $0.32 per diluted common share, for the second quarter ended June 30, 2023. The company's total capital ratio increased to 12.64%, and the tangible common equity ratio was 8.04%. Loans receivable grew 2% year-over-year to $14.9 billion, and total deposits grew 4% to $15.6 billion.

Total capital was $2.10 billion at June 30, 2023, growing 2% from March 31, 2023.

Cash and cash equivalents increased to $2.30 billion at June 30, 2023, up from $2.21 billion at March 31, 2023.

Nonperforming assets declined 3% quarter-over-quarter, and the nonperforming assets ratio improved to 0.38% of total assets.

Total deposits of $15.62 billion at June 30, 2023, decreased 1% quarter-over-quarter and grew 4% year-over-year.