Territorial Bancorp to be acquired by Hope Bancorp in all-stock merger, exchange ratio 0.8048

Territorial Bancorp Inc.

Each Territorial Bancorp share to be exchanged for 0.8048 shares of Hope Bancorp common stock; deal expected to close in Q4 2024.
Boards of both companies unanimously approved; Territorial board recommends stockholders adopt the agreement.
Directors and certain officers entered into voting agreements to vote their shares in favor.
Termination fee of $3.0 million payable by Territorial if deal terminates under certain circumstances.
Transaction subject to regulatory approvals, stockholder vote, and other customary conditions.

item 1.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Territorial Bancorp Inc. entered into Agreement and Plan of Merger with Hope Bancorp, Inc. (effective 2024-04-26).

Action: entry
Agreement: merger
Counterparty: Hope Bancorp, Inc.
Effective: 2024-04-26

Exact text from the filing

On April 26, 2024, Hope Bancorp, Inc., a Delaware corporation (“Hope Bancorp”), and Territorial Bancorp Inc., a Maryland corporation (“Territorial Bancorp”), entered into an Agreement and Plan of Merger (the “Merger Agreement”).

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Territorial Bancorp Inc. entered into Voting Agreement with directors and certain executive officers of Territorial Bancorp (effective 2024-04-26).

Action: entry
Agreement: merger
Counterparty: directors and certain executive officers of Territorial Bancorp
Effective: 2024-04-26

Exact text from the filing

On April 26, 2024, in connection with the execution of the Merger Agreement, Hope Bancorp entered into a voting agreement (the “Voting Agreement”) with the directors and certain executive officers of Territorial Bancorp.

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246 material agreements filed in the last 30 days. Browse all material agreements →

Source: SEC EDGAR

accession 0001104659-24-055737

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