---
schema_version: "secwatch.filing_event.v1"
accession: "0001128361-23-000048"
form_type: "8-K"
ticker: "HOPE"
cik: "0001128361"
company_name: "HOPE BANCORP INC"
filed_at: "2023-10-23T23:59:59+00:00"
generated_at: "2026-06-09T16:17:38.225001+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Hope Bancorp Q3 net income $30M, down 21% QoQ; announces $40M annual cost savings plan

## Summary
- Q3 net income $30.0M ($0.25 diluted EPS) vs $38.0M ($0.32) in Q2 and $53.7M ($0.45) a year ago.
- Net interest income $135.4M, up 4% QoQ; net interest margin expanded 13 bps to 2.83%.
- Recorded $17M provision for credit losses in Q3; noninterest income fell on lack of one-time gains.
- Total deposits $15.74B, up 1% QoQ; total capital ratio increased to 13.23%.
- Strategic reorganization expects >$40M annual cost savings; one-time Q4 charges ~$12M.

## SEC filing metadata
- accession: 0001128361-23-000048
- form_type: 8-K
- ticker: HOPE
- cik: 0001128361
- company_name: HOPE BANCORP INC
- filed_at: 2023-10-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1128361/000112836123000048/0001128361-23-000048-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1128361/000112836123000048/hope-20231023.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001128361-23-000048
- JSON: https://secwatch.observer/filing/0001128361-23-000048.json
- Plain text: https://secwatch.observer/filing/0001128361-23-000048.txt

## Key facts
- Earnings Releases
  HOPE BANCORP INC reported third quarter and nine months ended September 30, 2023 results: net income net income totaled $30.0 million, or $0.25 per diluted common share, EPS $0.25 per diluted common share.
  - Period: third quarter and nine months ended September 30, 2023
  - Net income: net income totaled $30.0 million, or $0.25 per diluted common share
  - EPS: $0.25 per diluted common share
  - Result: reported results
  source text: Hope Bancorp, Inc. (the "Company") (NASDAQ: HOPE), the holding company of Bank of Hope (the "Bank"), today reported unaudited financial results for its third quarter and nine months ended September 30, 2023. For the three months ended September 30, 2023, net income totaled $30.0 million, or $0.25 per diluted common share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1128361/000112836123000048/0001128361-23-000048-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.