Hope Bancorp Q3 net income $53.7M; PPNR record $82.6M, NIM 3.49%, dividend $0.14

HOPE BANCORP INC

2022-Q3 EPS reported $1.38

Net income $53.7M ($0.45 EPS) vs $52.1M in Q2 and $55.5M year-ago; record PPNR of $82.6M (+11.8% QoQ).
Net interest margin expanded 13 bps QoQ to 3.49%; net interest income +8% QoQ and +18% YoY.
Loans receivable +6.5% QoQ, 11% YTD; total deposits +3.1% QoQ; cost of deposits rose 46 bps.
Provision for credit losses $9.2M reflecting loan growth and recession risk; nonperforming assets down 12%.
Quarterly cash dividend $0.14 per share, payable Nov 17 to holders of record Nov 3.

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