Hope Bancorp Q3 net income $55.5M ($0.45 EPS), record loan originations $1.01B, dividend $0.14

HOPE BANCORP INC

2021-Q3 EPS reported $1.23

Net income $55.5M ($0.45 diluted EPS) up 3% QoQ and 82% YoY; NIM 3.07% down 4 bps.
Record loan originations $1.01B (up 13% QoQ); loans flat at $13.42B due to PPP forgiveness and loan sales.
Record deposits $15.06B (up 2% QoQ); noninterest bearing demand deposits 40% of total.
Negative provision for credit losses $10.0M; net charge-offs $42.7M from strategic de-risking; nonaccrual loans down 51% QoQ.
Declared $0.14 quarterly dividend payable Nov 18; $50M buyback program, $47.2M repurchased.

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