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Sep 30, 2022
Hope Bancorp Q3 2022 Earnings Report
Hope Bancorp's Q3 2022 financial results were reported, demonstrating a strong performance with record loan originations and improvements in asset quality.
Key Takeaways
Hope Bancorp reported a strong third quarter in 2022, with net income of $53.7 million, or $0.45 per diluted common share. The company saw record loan originations, increased net interest income, and improvements in asset quality. Pre-provision net revenue also reached a record high.
Loan originations reached a record $1.35 billion, with commercial loans accounting for 55% of the total.
Loans receivable increased by 6.5% quarter-over-quarter.
Total nonperforming assets decreased by 12% quarter-over-quarter, representing 0.51% of total assets.
Net interest income increased by 8% quarter-over-quarter and 18% year-over-year.
Forward Guidance
Hope Bancorp's board and management team are confident in their ability to navigate current challenges and deliver strong financial results for stockholders in the long term.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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