Hope Bancorp reported a net income of $24.3 million, or $0.20 per diluted common share, for Q4 2024. The company saw revenue growth driven by noninterest income and a decrease in noninterest expense, leading to a 14% increase in pre-provision net revenue. Asset quality improved with a decrease in criticized loans and nonperforming assets.
Net income totaled $24.3 million, or $0.20 per diluted common share.
Pre-provision net revenue increased 14% to $40.4 million.
Total revenue grew, led by strong growth in noninterest income, and noninterest expense decreased.
Asset quality improved with an 11% decrease in criticized loans and nonperforming assets down 13%.
Hope Bancorp is preparing for the integration of Territorial Savings Bank, which is expected to contribute low-cost core deposits and high-quality residential mortgage loans. The merger is anticipated to be completed in Q1 2025, pending regulatory approvals. The company is also committed to supporting the rebuilding needs of communities impacted by wildfires.
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