Hope Bancorp, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 23, 2023 at 06:30 am EDT
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Hope Bancorp, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 135.38 million compared to USD 153.19 million a year ago. Net income was USD 30.05 million compared to USD 53.75 million a year ago. Basic earnings per share from continuing operations was USD 0.25 compared to USD 0.45 a year ago. Diluted earnings per share from continuing operations was USD 0.25 compared to USD 0.45 a year ago.
For the nine months, net interest income was USD 399.95 million compared to USD 427.9 million a year ago. Net income was USD 107.19 million compared to USD 166.57 million a year ago. Basic earnings per share from continuing operations was USD 0.89 compared to USD 1.39 a year ago. Diluted earnings per share from continuing operations was USD 0.89 compared to USD 1.38 a year ago.
Hope Bancorp, Inc. is the holding company of Bank of Hope (the Bank). The Company's loan portfolio segments include commercial real estate (CRE) loans, commercial and industrial (C&I) loans, residential mortgage loans, and consumer and other loans. CRE loans are extended for the purchase and refinance of commercial real estate and are generally secured by first deeds of trust and are collateralized by residential or commercial properties. C&I loans are loans provided to businesses for various purposes such as for working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance activities, and other business related financing needs, and also include syndicated loans. Residential mortgage loans are extended for personal, family, or household use and are secured by a mortgage or deed of trust. Consumer and other loans consist of home equity, credit cards, and other personal loans. It operates over 54 full-service branches in the United States.
HOPE BANCORP, INC. 
