ANNUAL
REPORT 2020
The first and only super regional
Korean American bank in the
United States
Company Profile
Hope Bancorp, Inc. is the holding company of Bank of Hope, one of the leading Asian
American banks in the United States. Headquartered in Los Angeles and with $17.1 billion
in total assets as of December 31, 2020, Bank of Hope serves a multi-ethnic population
of customers across the nation with full-service branches in California, Washington, Texas,
Illinois, New York, New Jersey, Virginia and Alabama. The Bank also operates SBA loan
production offices in Seattle, Houston, Denver, Dallas, Atlanta, Portland, Oregon, Virginia,
New York City and Northern California; commercial loan production offices in Northern
California and Seattle; residential mortgage loan production offices in California; and a
representative office in Seoul, Korea.
Building on the Bank’s expertise in small business lending, commercial real estate lending,
C&I lending and international trade finance, Bank of Hope is today a diversified financial
institution with an expanded offering of commercial and consumer products and services,
including residential mortgage and warehouse lending, credit cards, equipment lease
financing and foreign currency, among others.
Having grown alongside the Bank’s customers fostering growth within its communities,
Bank of Hope understands its markets well and is committed to help its customers achieve
their financial goals.
Bank of Hope Headquarters
We are committed to improving the value
of our services as BANKERS,
providing comprehensive
financial solutions as EXPERTS,
and being good NEIGHBORS that foster
growth for our customers
and communities.
2020 ANNUAL REPORT / 1
Welcome to Bank of Hope!
Bank of Hope has been providing financial
services to the Korean American community
for 40 years and is today one of the leading
Asian American banks in the United States.
Message to Stockholders
Dear Valued Stockholders, Customers
and Employees:
degrees and held professional jobs before moving to the
U.S., language barriers prevented many from finding jobs
commensurate with their education and work experience.
2020 was a special year for Bank of Hope as we celebrated
As a result, a typical newly arrived family in the 1970s would
the 40th anniversary of our establishment. Bank of Hope
start a small business after a few years of work as a low-
has been providing financial services to the Korean
skilled laborer. Koreans have shown a strong tradition of
American community for 40 years and is today one of the
entrepreneurship, and their tendency to enter into business
leading Asian-American banks in the United States.
has been one of the highest among all ethnic groups as
A look at the history of how we came to be, the culture of the
one-third of Korean immigrant households engage in a
evidenced by numerous surveys that confirm that about
1980
Since
The beginnings of Korean American banking
communities that we serve and the business environment
self-owned business.
that we have operated in provides a better understanding of
our Company as we stand today.
With an
increasing number of Korean American-owned
Following the passage of the 1965
Immigration and
Los Angeles, a need for financial services for this emerging
Naturalization Act, which allowed family and employment
immigrant community arose, and therein lies where our roots
small businesses in the commercial district of downtown
immigration, the annual number of Korean immigrants
were sown.
steadily increased, and the Korean diaspora community
became the largest group of immigrants to move to America
In 1980, Wilshire Bank, the first of the three root banks
from 1976 to 1990. Los Angeles received the biggest wave
of Bank of Hope, was founded by, among others, a number
of Korean immigrants during this period, followed by New
of Korean Americans with a focus on serving the financial needs
York and Chicago.
of a sprawling Koreatown. Center Bank was established in
While a majority of Korean immigrants earned college
successful Korean American entrepreneurs and professionals.
1986 and Nara Bank in 1988 by founders comprised entirely of
2020 ANNUAL REPORT / 2
n Kevin S. Kim
Chairman, President &
Chief Executive Officer
2020 ANNUAL REPORT / 3
Message to Stockholders
Message to Stockholders
A time of rapid growth and expansion
beyond Southern California
from the mid-1990s through the mid-2000s, the root banks
Having successfully emerged from the financial crisis
presence in Seattle and Chicago with the acquisitions of
grew at a rapid pace and began expanding their presence
in 2010, Center Bank and Nara Bank agreed to merge
Pacific
International Bank and Foster Bank, respectively.
beyond Southern California to other geographic markets with
to form a larger bank with a stronger capital base and
Moreover, the Bank began diversifying its product offering
As community banks focused on serving the needs of their
large populations of Korean American-owned businesses.
core customer base, the root banks initially specialized
The root banks also began listing on NASDAQ beginning
a greater ability
to
absorb
the
higher
with the launch of equipment lease financing, the only Korean
American bank-issued credit card, wealth management
in small business lending and international trade finance
in 1998 and garnered broad attention by the investment
costs associated with
and residential mortgage.
and beginning in the 1990s became active SBA lenders.
community for their high growth and profitability.
increased
regulatory
As more of the core business customer base achieved
burdens following the Great Recession. The first merger
During this same time frame, Wilshire Bank expanded into the
financial wealth and began purchasing the commercial
Given the strong financial performance and accomplishments
of equals between Center and Nara was completed on
Southeast with branch openings in Alabama and Georgia and
properties in which they operated their businesses, the
achieved by the root banks, as well as the public stature
November 30, 2011.
strengthened its presence in New York and Los Angeles with
1990
to
mid
2000s
Rapid growth and expansion
2011
Transformational mergers of equals
2016
banks also became active in commercial real estate lending.
gained by their founding directors, Korean American de-novo
This created BBCN Bank and transformed the Korean
the acquisitions of BankAsiana and Saehan Bank, respectively.
banks began to proliferate in Los Angeles and across other
American banking
landscape as
the first
friendly
In the early 1990s, the U.S. economy was already in recession
parts of the country beginning in 2001.
merger that was not a result of regulatory pressure.
On July 29, 2016, the second merger of equals was complet-
following the S&L Crisis in 1989. To top it all, the Korean
ed between BBCN Bank and Wilshire Bank, creating Bank of
American community was horrified as over 2,200 Korean-
However, the U.S. economy was hit with the subprime
The merger was completed at a time when many banks
owned businesses were looted, completely destroyed, or
mortgage crisis in 2007, triggered by a large decline in home
were still struggling with capital deficiencies and continuing
damaged during the Los Angeles riots of 1992, with estimated
prices after the collapse of a housing bubble, leading to
to pull back on lending. This enabled the Bank to better
damages of $400 million. But the community came together
mortgage delinquencies, foreclosures, and the devaluation of
navigate the challenging economic and
interest rate
Hope with total assets in
excess of $13 billion. This
merger combined the top
two
commercial
lenders
and with the support of Korean American banks, Koreatown
housing-related securities. This led to the Great Recession, and
environment, and to ultimately gain market share and
in the Korean American banking space and created for the
proved resilient and rose from the ashes of the LA riots.
unprecedented fiscal, monetary, and regulatory policy was
grow the franchise as economic conditions improved.
first time a super regional Korean American bank with the only
During a time of strong economic growth, steady job
estate market valuations severely impacted liquidity and capital
as the dominant Korean American bank
in Southern
all of the top major geographic markets with sizeable Asian
creation, low inflation and rising productivity in the U.S.
positions, and U.S. bank failures ballooned in 2009 and 2010.
California and New York, and the Bank expanded its
American communities in the U.S. The combination created
unleashed by federal authorities. The collapse in commercial real
The combination also created a broader national platform
true nationwide platform providing full banking services in
2020 ANNUAL REPORT / 4
2020 ANNUAL REPORT / 5
Message to Stockholders
Message to Stockholders
We are committed to improving the value of our services as Bankers, providing
comprehensive financial solutions as Experts, and being good Neighbors that foster
growth for our customers and communities.
bear fruit. We originated a well-balanced mix of loans that
to 1.72% for 2020 from 1.86% for 2019, and our efficiency
resulted in a significant year-over-year improvement in
ratio improved to 54.45% for 2020 from 54.74% for 2019.
the composition of our loan portfolio with commercial
an unrivaled organization that represented greater than
important racial justice movement, widespread social unrest,
loans increasing to 30% of total loans at year-end 2020
Asset quality remained relatively healthy notwithstanding the
50% of total assets, loans and deposits of all Korean
and a bitter political environment. Difficult times, however,
from 22% a year earlier, and commercial real estate loans
impact of the pandemic on the business community. Nonper-
American banks in the country.
often inspire adaptation and even growth. As an organization,
decreasing to 65% from 71%, over the same time period.
forming assets represented 0.84% of total assets at December
As Bank of Hope, we committed to improving the value of
immediately recognized the essential, supportive role our Bank
Thanks in part to our growing base of middle-market
continued to be very low with net charge offs of 7 basis points
our services as Bankers, providing comprehensive financial
plays for our customers and communities in times of need.
customers, deposits increased 14% year-over-year to $14.33
of average loans in 2020, compared with 4 basis points in 2019.
we came together with hope in our pandemic response and
31, 2020, versus 0.78% a year earlier. Our loss experience
solutions as Experts, and being good Neighbors that
Despite the extraordinarily challenging business environment,
billion at December 31, 2020 from $12.53 billion at year-
foster growth
for our customers and communities.
we persevered and delivered another year of consistent
end 2019. More importantly, our deposit composition
The implementation of the Current Expected Credit Losses
2020
The only super regional Korean American bank
B a n k e r s | E x p e r t s | N e i g h b o r s
And as a regional bank, we have been making significant
execution of our strategic priorities.
improved dramatically with noninterest bearing deposits
methodology effective January 1, 2020 and the additional
investments in our organization that initially were necessary
increasing to 34% of total deposits at year-end 2020 from
increase in reserves in light of the pandemic’s impact on
as we passed the $10 billion threshold for financial
Although the business environment was extremely challenged
25% the prior year. This favorable shift in our deposit
certain business sectors resulted in our provision for credit
institutions. But we also have been making investments
with the pandemic shutdowns, our continued success in
base to lower-costing core deposits contributed to a
losses totaling $95.0 million for 2020, compared with $7.3
beyond the initial requirements in our infrastructure, in our
banking middle-market commercial borrowers and active
considerable reduction in our total cost of deposits to 81
million in 2019 under the former Incurred Loss methodology.
processes and workflow, and in our people and capabilities
participation
in the SBA Paycheck Protection Program
basis points for 2000 from 158 basis points for 2019.
to support the longer-term growth of our franchise. As a
contributed to new loan originations of $3.08 billion in 2020,
This had a material but expected impact on our profitability,
result, we became stronger and sounder year-after-year.
a significant increase over $2.49 billion in the prior year. Loans
We are also pleased that while total assets at December 31,
and net income totaled $111.5 million in 2020, compared with
Along comes 2020, a year, unlike any other in our history,
10% over $12.18 billion at December 31, 2019. We are pleased
billion at year-end 2019, this growth was achieved with
was 0.68%, compared with 1.12% in 2019, and our return on
engulfed by a global COVID-19 pandemic that led to
that our corporate transformation plan designed to enhance
minimal increase in our noninterest expenses. As a percent
average stockholders’ equity was 5.49% for 2020, versus 8.63%
unprecedented government actions, as well as the
the diversification of our revenue streams has begun to
age of average assets, noninterest expense decreased
for 2019.
receivable at year-end 2020 totaled $13.56 billion, increasing
2020 increased 9% year-over-year to $17.11 billion from $15.67
$171.0 million in 2019. Our return on average assets for 2020
2020 ANNUAL REPORT / 6
2020 ANNUAL REPORT / 7
Message to Stockholders
Corporate Social Responsibility Highlights
At year-end 2020, the Company continued to maintain
Without a doubt, 2020 required more of our employees
robust capital levels with total risk-based capital at 12.87%,
than ever, whether they were frontline staff servicing
leverage ratio at 10.22%, and common equity tier 1 capital
at 10.94%. Underscoring the confidence of our board and
management, we maintained an attractive quarterly dividend
at $0.14 per share throughout the pandemic in 2020.
the
essential
banking
needs of our customers
or our back-office staff,
many of whom were
challenged
to maintain
Our solid financial performance in 2020 affirmed Bank
high productivity
levels while working
remotely. On
of Hope’s position as one of the leading Asian American
behalf of the entire Board of Directors, we express our
banks in the country. We have a robust capital position
deepest appreciation to our employees for their dedication
to support future growth, ample liquidity and a diversified
and commitment in these most challenging times.
Current & Future
2020
Strengthened foundation for enhanced financial
performance in the years ahead
deposit and loan portfolio. Together with our board and
We also thank our customers for their loyal patronage,
management’s commitment to operational efficiencies
our regulators for their collaborative guidance and our
while continuing to invest in our organization, we believe
stockholders for their ongoing support.
we have strengthened the
foundation
for enhanced
financial performance in the years ahead.
As a result of the extraordinary challenges that we
successfully endured during this unprecedented period,
As we accept the realities of 2020 and look forward into
I have greater conviction that we are a stronger franchise
2021, we acknowledge that the pandemic will continue
today than ever before and more confidence in our ability
to impact us in many ways, and a full economic recovery will
to deliver enhanced value to all the stakeholders of
certainly take longer than 2021. We are committed to moving
Bank of Hope.
forward with necessary adjustments prompted by these
realities, including an acceleration of investments in our digital
Sincerely,
capabilities, so that we can be better prepared for a greater
tomorrow post-COVID-19.
Kevin S. Kim
Chairman, President & Chief Executive Officer
Bank of Hope was founded by members of the community 40 years ago to serve the growing financial needs of an emerging
immigrant population. Our commitment to foster growth in the communities in which we live and work is deeply rooted in
our corporate philosophy. In addition to financing economic growth, we have a long history of supporting our communities
through various forms of investments, charitable donations and volunteerism.
1 OUT OF 2
1 out of 2 Bank of Hope
branches located in
low-to-moderate income areas
450 HOURS
CRA-reportable
volunteer hours in 2020
reflecting impact of COVID-19
$3.1 BILLION
$3.1 billion
of loans
funded in 2020
$700 MILLION
More than $700 million
of CRA-reportable lending
in 2020
$10 MILLION
$10 million of donations
and sponsorships
over last 10 years
$2.3 MILLION
$2.3 million of contributions
to the Hope Scholarship
Foundation since 2001
2020 ANNUAL REPORT / 8
2020 ANNUAL REPORT / 9
Selected Financial Data
Selected Financial Data
(dollars in thousands, except share and per share data)
2020
2019
2018
2017
2016
(dollars in thousands)
2020
2019
2018
2017
2016
As of and For the Years Ended December 31,
As of and For the Years Ended December 31,
Income Statement Data
Interest income
Interest expense
Net interest income
Provision for credit losses
$ 598,878
$ 684,786
$ 650,172
$ 572,104
$ 421,934
131,380
218,191
162,245
90,724
58,579
467,498
466,595
487,927
481,380
363,355
95,000
7,300
14,900
17,360
9,000
Net interest income after provision for credit losses
372,498
459,295
473,027
464,020
354,355
Noninterest income
Noninterest expense
53,432
49,683
60,180
66,415
51,819
283,639
282,628
277,726
266,601
214,975
Income before income tax provision
142,291
226,350
255,481
263,834
191,199
Income tax provision
Net income
Per Common Share Data
Earnings _ basic
Earnings _ diluted
Book value (period end)
30,776
55,310
65,892
124,389
77,452
$ 111,515
$ 171,040
$ 189,589
$ 139,445
$ 113,747
$ 0.90
$ 1.35
$ 1.44
$ 1.03
$ 1.10
$ 0.90
$ 1.35
$ 1.44
$ 1.03
$ 1.10
$ 16.66
$ 16.19
$ 15.03
$ 14.23
$ 13.72
Cash dividends declared per common share
$ 0.56
$ 0.56
$ 0.54
$ 0.50
$ 0.45
Number of common shares outstanding (period end)
123,264,864
125,756,543
126,639,912
135,511,891
135,240,079
Balance Sheet Data—At Period End
Assets
$ 17,106,664
$ 15,667,440
$ 15,305,952
$ 14,206,717
$ 13,441,422
Securities available for sale
$ 2,285,611
$ 1,715,987
$ 1,846,265
$ 1,720,257
$ 1,556,740
Loans receivable, net of unearned loan fees and discounts
(excludes loans held for sale)
$ 13,563,213
$ 12,276,007
$ 12,098,115
$ 11,102,575
$ 10,543,332
Deposits
$ 14,333,912
$ 12,527,364
$ 12,155,656
$ 10,846,609
$ 10,642,035
FHLB advances and federal funds purchased
$ 250,000
$ 625,000
$ 821,280
$ 1,227,593
$ 754,290
Subordinated debentures
Convertible notes, net
Stockholders’ equity
Average Balance Sheet Data
Assets
$ 104,178
$ 103,035
$ 101,929
$ 100,853
$ 99,808
$ 204,565
$ 199,458
$ 194,543
$ -
$ -
$ 2,053,745
$ 2,036,011
$ 1,903,211
$ 1,928,255
$ 1,855,473
$ 16,515,102
$ 15,214,412
$ 14,749,166
$ 13,648,963
$ 10,342,063
Securities available for sale
$ 1,899,948
$ 1,796,412
$ 1,772,080
$ 1,679,468
$ 1,276,068
Gross loans, including loans held for sale
$ 12,698,523
$ 11,998,675
$ 11,547,022
$ 10,642,349
$ 8,121,897
Deposits
Stockholders’ equity
$ 13,560,531
$ 12,066,719
$ 11,628,177
$ 10,751,886
$ 8,232,984
$ 2,032,570
$ 1,981,811
$ 1,910,224
$ 1,907,746
$ 1,342,954
Complete financial information is contained in the Company’s Form 10-K attached herewith in electronic form and incorporated by reference as part of
Hope Bancorp’s 2020 Annual Report.
Selected Performance Ratios
Return on average assets (1)
Return on average stockholders’ equity (2)
Average stockholders’ equity to average assets
Dividend payout ratio (3)
Net interest spread (4)
Net interest margin (5)
Yield on interest earning assets
(6)
Cost of interest bearing liabilities (7)
Efficiency ratio
(8)
Regulatory Capital Ratios
Hope Bancorp:
Common Equity Tier 1
Tier 1 Leverage
Tier 1 risk-based
Total risk-based
Bank of Hope:
Common Equity Tier 1
Tier 1 Leverage
Tier 1 risk-based
Total risk-based
Asset Quality Data
Nonaccrual loans
0.68%
5.49%
12.31%
62.22%
2.58%
3.00%
3.84%
1.26%
1.12%
8.63%
13.03%
41.54%
2.65%
3.27%
4.81%
2.16%
1.29%
9.92%
12.95%
37.58%
3.04%
3.53%
4.71%
1.67%
1.02%
7.31%
13.98%
48.54%
3.46%
3.80%
4.51%
1.05%
1.10%
8.47%
12.99%
40.86%
3.49%
3.75%
4.36%
0.87%
54.45%
54.74%
50.67%
48.67%
51.78%
10.94%
10.22%
11.64%
12.87%
12.90%
11.33%
12.90%
14.14%
11.76%
11.22%
12.51%
13.23%
13.72%
12.29%
13.72%
14.44%
11.44%
10.55%
12.21%
12.94%
13.63%
11.76%
13.63%
14.36%
12.30%
11.54%
13.11%
13.82%
12.95%
11.40%
12.95%
13.66%
12.10%
11.49%
12.92%
13.64%
12.75%
11.33%
12.75%
13.46%
$ 85,238
$ 54,785
$ 53,286
$ 46,775
$ 40,074
Loans 90 days or more past due and still accruing (9)
614
7,547
1,529
407
305
Accruing restructured loans
Total nonperforming loans
Other real estate owned
Total nonperforming assets
37,354
35,709
50,410
67,250
48,874
123,206
98,041
105,225
114,432
89,253
20,121
24,091
7,754
10,787
21,990
$ 143,327
$ 122,132
$ 112,979
$ 125,219
$ 111,243
Asset Quality Ratios
Nonaccrual loans to loans receivable
Nonperforming loans to loans receivable
Nonperforming assets to total assets
Non-performing assets to loans receivable and OREO
Allowance for credit losses to loans receivable
Allowance for credit losses to nonaccrual loans
Allowance for credit losses to nonperforming loans
Allowance for credit losses to nonperforming assets
Net charge-offs (recoveries) to average gross loans
0.63%
0.91%
0.84%
1.06%
1.52%
242.55%
167.80%
144.24%
0.07%
0.45%
0.80%
0.78%
0.99%
0.77%
0.44%
0.87%
0.74%
0.93%
0.77%
0.42%
1.03%
0.83%
1.13%
0.76%
0.38%
0.85%
0.83%
1.05%
0.75%
171.84%
173.70%
180.74%
197.99%
96.03%
77.08%
0.04%
87.96%
81.92%
0.06%
73.88%
67.51%
0.11%
88.90%
71.32%
0.07%
(1) Net income divided by average assets
(2) Net income divided by average stockholders’ equity
(3) Dividends per share divided by earnings per share
(4) Difference between the average yield earned on interest earning assets and the average rate paid on interest bearing liabilities
(5) Net interest income expressed as a percentage of average interest earning assets
(6) Interest income divided by average interest earning assets
(7) Interest expense divided by average interest bearing liabilities
(8) Noninterest expense divided by the sum of net interest income plus noninterest income
(9) Excludes acquired credit impaired loans totaling $13.2 million, $14.1 million, $18.1 million and $19.6 million as of December 31, 2019, 2018, 2017 and 2016, respectively
2020 ANNUAL REPORT / 10
2020 ANNUAL REPORT / 11
Hope Bancorp, Inc. and Bank of Hope
Hope Bancorp’s executive management team is supported by a distinguished group of
leaders and corporate professionals from various market sectors and industry groups.
The expertise of our Directors includes accounting, auditing and financial reporting,
commercial banking, investment banking, investment management, legal, corporate
management, strategic planning, business acquisitions, marketing, international opera-
tions, retail and small to middle-market business operations.
Kevin S. Kim
Chairman, President & Chief Executive Officer
Hope Bancorp, Inc.
Chairman & Chief Executive Officer
Bank of Hope
Scott Yoon-Suk Whang
Lead Independent Director
Founder and Former Chief Executive Officer
Orange Circle Studios
Steven S. Koh
Honorary Chairman
Chairman
Pacific Steel Corporation
Board of Directors
Donald D. Byun
Former President
Jay Dee, Inc.
Jinho Doo
Former Chief Executive Officer
Key Capital Management, LLC
Daisy Y. Ha
Attorney
Joon Kyung Kim
Former National Partner-in-Charge,
Korea Practice
KPMG LLP
David P. Malone
President & Chief Operating Officer
Bank of Hope
William J. Lewis
Former Executive Vice President &
Chief Credit Officer
East West Bank
John R. Taylor
Former Senior Audit Partner
KPMG LLP
Dale S. Zuehls, PhD
Principal
Zuehls, Legaspi & Company
Chung Hyun Lee*
Former President
NuArt International, Inc.
Jin Chul Jhung*
Chairman & President
Royal Imex, Inc.
* Term expires May 20, 2021 due to director’s decision to retire and not stand for re-election at the 2021 Annual Meeting of Stockholders.
2020 ANNUAL REPORT / 12
2020 ANNUAL REPORT / 13
Sincere Thanks
The Company thanks
retiring directors Mr. Chung
Hyun Lee and Mr. Jin Chul
Jhung for their tremendous
contributions to Bank
of Hope over the years.
Location Information
Southern California
Branches
Koreatown
Olympic-Hoover
2222 W Olympic Blvd
Los Angeles, CA 90006
T (213) 386-2222
Olympic-Vermont
2727 W Olympic Blvd, Suite 104
Los Angeles, CA 90006
T (213) 235-3100
Olympic-Western
3267 W Olympic Blvd
Los Angeles, CA 90006
T (213) 388-2222
Western-Beverly
253 N Western Ave
Los Angeles, CA 90004
T (213) 381-2222
Western-9th
841 S Western Ave
Los Angeles, CA 90005
T (213) 387-7070
Wilshire
3200 Wilshire Blvd
Los Angeles, CA 90010
T (213) 427-1000
Wilshire-Harvard
3600 Wilshire Blvd, Suite 100-A
Los Angeles, CA 90010
T (213) 351-5980
Wilshire-Manhattan
3832 Wilshire Blvd
Los Angeles, CA 90010
T (213) 427-7711
Downtown LA
Broadway
1205 S Broadway
Los Angeles, CA 90015
T (213) 746-2222
Maple
401 E 11th St #211
Los Angeles, CA 90015
T (213) 763-1800
San Pedro Mart
1100 S San Pedro St, Unit L21
Los Angeles, CA 90015
T (213) 745-5550
Huntington Park
Valley
Huntington Park
6350 Pacific Blvd
Huntington Park, CA 90255
T (323) 584-5950
South Bay
Gardena
1655 W Redondo Beach Blvd
Gardena, CA 90247
T (310) 327-2222
Torrance
2424 Sepulveda Blvd, Suite A
Torrance, CA 90501
T (310) 328-5555
Fullerton/Cerritos
Cerritos
17500 Carmenita Rd
Cerritos, CA 90703
T (562) 926-2520
Fullerton
5300 Beach Blvd, Unit 101
Buena Park, CA 90621
T (714) 690-1400
Fullerton-Beach
5307 Beach Blvd
Buena Park, CA 90621
T (714) 994-5000
La Palma
4875 La Palma Ave
La Palma, CA 90623
T (562) 468-0900
Garden Grove/Irvine
Garden Grove
9580 Garden Grove Blvd Suite 100
Garden Grove, CA 92844
T (714) 891-2222
Irvine-Culver
14429 Culver Dr
Irvine, CA 92604
T (949) 777-3777
Rowland Heights/
Diamond Bar/Inland Empire
Diamond Bar
2809 S Diamond Bar Blvd
Diamond Bar, CA 91765
T (909) 718-2000
Inland
1040 S Mt. Vernon Ave, Suite A
Colton, CA 92324
T (909) 370-2222
Rowland Heights-Colima
10911 Colima Rd
Walnut, CA 91789
T (909) 979-8020
La Crescenta
3231 Foothill Blvd, Suite 205
La Crescenta, CA 91214
T (818) 551-0700
North Northridge
10147 Reseda Blvd
Northridge, CA 91324
T (818) 534-3333
South Northridge
8401 Reseda Blvd
Northridge, CA 91324
T (818) 773-6133
San Diego
San Diego
4428 Convoy St, Suite #A-200
San Diego, CA 92111
T (858) 874-3333
Commercial Loan Centers
Broadway Office
1205 S Broadway
Los Angeles, CA 90015
T (213) 763-1122
Cerritos Office
17500 Carmenita Rd
Cerritos, CA 90703
T (562) 926‐9091
Gardena Office
1655 W Redondo Beach Blvd, Suite 101
Gardena, CA 90247
T (310) 327-2222
OC Region Loan Center
6131 Orangethorpe Ave, Suite 305
Buena Park, CA 90621
T (562) 345‐3102
Olympic-Hoover Office
2222 W Olympic Blvd,
Los Angeles, CA 90006
T (213) 386-2222
Olympic-Vermont Office
2727 W Olympic Blvd, Suite 104
Los Angeles, CA 90006
T (213) 235-3100
Olympic‐Western Office
3267 W Olympic Blvd
Los Angeles, CA 90006
T (213) 401‐2302
Wilshire-Harvard Office
3600 Wilshire Blvd, Suite 100-A
Los Angeles, CA 90010
T (213) 427-1000
T (213) 427‐6540
Premier Banking Group
3267 W Olympic Blvd, 2nd Floor
Los Angeles, CA 90006
T (213) 235-3113
SBA Department
3200 Wilshire Blvd, 7th Floor
Los Angeles, CA 90010
T (877) 627-2722
Mortgage Banking Division
3200 Wilshire Blvd, 4th Floor
Los Angeles, CA 90010
T (866) 972-2265
Gardena/Torrance LPO
1655 W Redondo Beach Blvd, 3rd Floor
Gardena, CA 90247
T (310) 352‐3000
Newport Beach LPO
24 Corporate Plaza, Suite 180
Newport Beach, CA 92660
T (949) 999-7900
Corporate Banking Group
8117 Preston Rd, Suite 510
Dallas, TX 75225
T (469) 619-1848
Credit Card Center
3200 Wilshire Blvd, 7th Floor
Los Angeles, CA 90010
Commercial Leasing
3200 Wilshire Blvd, 4th Floor
Los Angeles, CA 90010
Investment Services
Olympic-Western Office
3267 W Olympic Blvd
Los Angeles, CA 90006
T (213) 201-3600
Northern California
Branches
Oakland
1939 Harrison St, Suite 110
Oakland, CA 94612
T (510) 302-0505
Silicon Valley
1102 E El Camino Real
Sunnyvale, CA 94087
T (408) 557-2000
Commercial Loan Center
NCA Region Loan Center
47102 Mission Falls Ct, Suite 100
Fremont, CA 94539
T (510) 550-8000
Washington
Branches
Federal Way
31827-B Pacific Hwy S
Federal Way, WA 98003
T (253) 941-9200
Lynnwood
17410 Hwy 99, Suite 120
Lynnwood, WA 98037
T (425) 743-7777
Tacoma
8608 S Tacoma Way
Lakewood, WA 98499
T (253) 984-7900
Commercial Loan Center
PNW Region Loan Center
3500 188th St SW, Suite 234
Lynnwood, WA 98037
T (425) 921-1261
Texas
Branches
Dallas
2237 Royal Ln
Dallas, TX 75229
T (972) 919-9999
Fort Worth
7553 Boulevard 26
North Richland Hills, TX 76180
T (817) 514-4600
Houston
10000 Harwin Dr
Houston, TX 77036
T (713) 774-0411
Houston-Spring
13890 Blalock Rd
Houston, TX 77055
T (281) 407-3355
Commercial Loan Centers
South Central Region Loan
Center
2237 Royal Ln
Dallas, TX 75229
T (972) 919-9999
Corporate Banking Group
8117 Reston Rd
Dallas, TX 75225
T (469) 619-1848
Illinois
Branches
Arlington Heights
83 West Golf Rd
Arlington Heights, IL 60005
T (847) 398-7700
Glenview
1645 N Milwaukee Ave
Glenview, IL 60025
T (855) 329-2226
Niles
8504 W Golf Rd
Niles, IL 60714
T (847) 965-7373
Skokie
5526 Touhy Ave
Skokie, IL 60077
T (773) 736-1300
Commercial Loan Center
MW Region Loan Center
8504 W Golf Rd
Niles, IL 60714
T (847) 965-7373
New York
Branches
Bayside
209-07 Northern Blvd
Bayside, NY 11361
T (718) 428-1606
Flushing-150th
150-24 Northern Blvd, Suite G4
Flushing, NY 11354
T (347) 625-2800
Flushing-Crocheron
162-05 Crocheron Ave
Flushing, NY 11358
T (718) 888-0020
Flushing-Union
138-02 Northern Blvd
Flushing, NY 11354
T (718) 886-6611
Great Neck
485 Great Neck Rd
Great Neck, NY 11021
T (516) 466-4160
Manhattan
16 W 32nd St
New York, NY 10001
T (212) 279-2790
Woodside
50-15 Roosevelt Ave
Woodside, NY 11377
T (718) 335-2000
Commercial Loan Centers
Eastern Region Headquarters
16 W 32nd St
New York, NY 10001
T (212) 279-2790
Bayside Office
222‐15 Northern Blvd, 4th Floor
Bayside, NY 11361
SBA Loan Production Offices
Atlanta LPO
3575 Koger Blvd, #380
Duluth, GA 30096
T (678) 380-0774
Dallas LPO
2727 Lyndon B Johnson Fwy Suite 110
Dallas, TX 75234
T (469) 522-4955
Denver LPO
2851 S Parker Rd, Suite 1120
Aurora, CO 80014
T (720) 535-5060
Houston LPO
10000 Harwin Dr
Houston, TX 77036
T (281) 407-3353
New York LPO
162-05 Crocheron Ave
Flushing, NY 11358
T (718) 412-9055
Northern California LPO
3340 Walnut Ave, #112
Freemont, CA 94538
T (510) 550-8001
Portland LPO
111 SW 5th Ave, Suite 3160
Portland, OR 97204
T (503) 360-9193
Seattle LPO
400 112th Ave NE, Suite 150
Bellevue, WA 98004
T (425) 921-1098
Korea
Seoul Representative Office
20F Glass Tower
534 Teheran-ro
Gangnam-gu, Seoul, Korea 06181
T +82 (2) 3439-9120
Premier Commercial Banking
Division
16 W 32nd St
New York, NY 10001
T (212) 279-2790
Eastern Region SBA Department
138‐02 Northern Blvd
Flushing, NY 11354
T (718) 886‐6611
New Jersey
Branches
Englewood Cliffs
474 Sylvan Ave
Englewood Cliffs, NJ 07632
T (201) 500-9943
Fort Lee
172 Main St
Fort Lee, NJ 07024
T (201) 585-7707
Palisades Park
303 Broad Ave
Palisades Park, NJ 07650
T (201) 582-1100
Commercial Loan Center
Eastern Region Loan Center‐
New Jersey
2200 Fletcher Ave, 3rd Floor
Fort Lee, NJ 07024
Virginia
Branches
Annandale
7410 Little River Tpke
Annandale, VA 22003
T (703) 354‐4310
Centreville
13890 Braddock Rd, Suite 102
Centreville, VA 20121
T (571) 321‐6272
Alabama
Branches
Montgomery
1605 Eastern Blvd
Montgomery, AL 36117
T (334) 277-4118
2020 ANNUAL REPORT / 14
2020 ANNUAL REPORT / 15
Corporate Information
Hope Bancorp, Inc. and Bank of Hope
Board of Directors
Executive Officers
Executive Officers
Kevin S. Kim
Chairman, President & Chief Executive
Officer
Hope Bancorp, Inc.
Chairman & Chief Executive Officer
Bank of Hope
Scott Yoon-Suk Whang
Lead Independent Director
Founder and Former Chief Executive
Officer
Orange Circle Studios
Steven S. Koh
Honorary Chairman
Chairman
Pacific Steel Corporation
Donald D. Byun
Former President
Jay Dee, Inc.
Jinho Doo
Former Chief Executive Officer
Key Capital Management, LLC
Daisy Y. Ha
Attorney
Jin Chul Jhung *
Chairman & President
Royal Imex, Inc.
Joon Kyung Kim
Former National Partner-in-Charge
Korea Practice
KPMG LLP
Chung Hyun Lee *
Former President
NuArt International, Inc.
David P. Malone
President & Chief Operating Officer
Bank of Hope
William J. Lewis
Former Executive Vice President &
Chief Credit Officer
East West Bank
John R. Taylor
Former Senior Audit Partner
KPMG LLP
Dale S. Zuehls, PhD
Principal
Zuehls, Legaspi & Company
* Term expires May 20, 2021 due to
director’s decision to retire and not stand
for re-election at the 2021 Annual Meeting
of Stockholders.
2020 ANNUAL REPORT / 16
Kevin S. Kim
Chairman, President &
Chief Executive Officer Hope Bancorp, Inc.
Chairman & Chief Executive Officer, Bank of Hope
Alex Ko
Senior Executive Vice President,
Chief Financial Officer
Hope Bancorp, Inc. and Bank of Hope
Kyu S. Kim
Senior Executive Vice President,
Eastern Regional President
Bank of Hope
Craig L. Campbell
Executive Vice President,
Chief Corporate Banking Officer
Bank of Hope
Angelee J. Harris
Executive Vice President,
General Counsel & Corporate Secretary
Hope Bancorp, Inc. and Bank of Hope
David W. Kim
Executive Vice President,
Midwest Regional President
Bank of Hope
Richard D. Marshall
Executive Vice President,
Credit Administration
Bank of Hope
Thomas P. Stenger
Executive Vice President,
Chief Risk Officer
Hope Bancorp, Inc. and Bank of Hope
David P. Malone
President & Chief Operating Officer
Bank of Hope
Jason K. Kim
Senior Executive Vice President,
Western Regional President
Bank of Hope
Peter Koh
Executive Vice President,
Chief Credit Officer
Bank of Hope
Andy Chan
Executive Vice President,
Chief Internal Audit Executive
Hope Bancorp, Inc. and Bank of Hope
Daniel H. Kim
Executive Vice President,
Chief Strategy & Administrative Officer
Hope Bancorp, Inc. and Bank of Hope
Young K. Lee
Executive Vice President,
Chief Human Resource Officer
Bank of Hope
David L. Song
Executive Vice President,
Credit Administration
Bank of Hope
Hung Van
Executive Vice President,
Chief Information Officer
Bank of Hope
Independent Auditors
Investor Relations
Crowe LLP
Los Angeles, California
SEC Counsel
Sheppard, Mullin, Richter & Hampton LLP
Los Angeles, California
Transfer Agent and Registrar
If you have questions about stock
certificates, or if you need to transfer
shares or change the name in which
they are registered, please contact:
Computershare Trust Company, N.A.
250 Royall St
Canton, MA 02021
T (877) 272-7494
www.computershare.com/investor
Securities Listing
Hope Bancorp, Inc.’s common stock
is traded on the NASDAQ Global Select
Market under the symbol HOPE.
Angie Yang
Senior Vice President, Director of Investor
Relations & Corporate Communications
T (213) 251-2219
angie.yang@bankofhope.com
Offer of 10-K Report
Stockholders may obtain without charge
copies of Hope Bancorp’s 2020 Annual
Report to the Securities and Exchange
Commission on Form 10-K by sending
a request to investor@bankofhope.com.
Annual Meeting of Stockholders
The Annual Meeting of Stockholders will be
held on Thursday, May 20, 2021 at 10:30 a.m. Pacific
Time. In light of public health concerns related to
the COVID-19 coronavirus, the Annual Meeting will
be held in a virtual meeting format only.
Stockholders of the Company may attend the
Annual Meeting online by visiting
www.meetingcenter.io/287772759.
The password for the meeting is HOPE2021.
Corporate Headquarters
3200 Wilshire Blvd, 14th Floor
Los Angeles, CA 90010
T (213) 639-1700
HOPE 2020 Form 10-K
Hope Bancorp’s 2020 Form 10-K is provided in
electronic form in the attached USB drive. To
request printed copies, please send an email
request to investor@bankofhope.com
The Hope Bancorp 2020 Annual Report has not been reviewed, or confirmed for accuracy or relevance, by the Federal Deposit Insurance Corporation.
3200 Wilshire Blvd, 14th Floor Los Angeles, CA 90010 T (213) 639-1700