Hope Bancorp, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2020
January 26, 2021 at 04:46 pm EST
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Hope Bancorp, Inc. announced earnings results for the fourth quarter ended December 31, 2020. For the fourth quarter, the company announced net interest income was USD 120.756 million compared to USD 113.508 million a year ago. Net income was USD 28.319 million compared to USD 43.009 million a year ago. Basic earnings per share was USD 0.23 compared to USD 0.34 a year ago. For the full year, net interest income was USD 467.498 million compared to USD 466.595 million a year ago. Net income was USD 111.515 million compared to USD 171.040 million a year ago. Basic earnings per share was USD 0.9 compared to USD 1.35 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. 
