Hope Bancorp Q1 net income $39.1M ($0.33 EPS) vs $51.7M prior; deposits up 1% to $15.83B

HOPE BANCORP INC

2023-Q1 EPS reported $0.33

Net income $39.1M, diluted EPS $0.33, down from $51.7M ($0.43) in Q4 2022 and $60.7M ($0.50) in Q1 2022.
Net interest margin 3.02% vs 3.36% prior quarter; efficiency ratio worsened to 62.38% from 51.97%.
Total deposits $15.83B (+1% QoQ, +9% YoY); uninsured deposit ratio improved to 38% from 41%.
Cash and cash equivalents surged to $2.21B from $506.8M, largely via $1.40B BTFP borrowings at 4.49%.
Board declared $0.14 per share quarterly dividend, payable May 18 to holders of record May 4.

item 2.02 item 7.01 item 9.01 item 8.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HOPE BANCORP INC reported first quarter ended March 31, 2023 results: net income $39.1 million, EPS $0.33 per diluted common share.

Period: first quarter ended March 31, 2023
Net income: $39.1 million
EPS: $0.33 per diluted common share
Result: reported results

Exact text from the filing

For the three months ended March 31, 2023, net income totaled $39.1 million, or $0.33 per diluted common share.

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Source: SEC EDGAR

accession 0001128361-23-000022

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