Hope Bancorp Q4 net income $26.5M; adjusted $38.3M (+26% QoQ); declares $0.14 dividend

HOPE BANCORP INC

2023-FY EPS reported $1.11

Net income $26.5M ($0.22 diluted EPS) vs $30.0M in Q3 2023; full-year net income $133.7M ($1.11 EPS).
Excluding FDIC assessment ($3.1M after tax) and restructuring ($8.7M), adjusted net income $38.3M ($0.32 EPS), up 26% QoQ.
Net interest margin fell 13 bps to 2.70% on higher deposit costs; net interest income down 7% QoQ to $125.9M.
Credit quality improved: nonperforming assets down 26%, criticized loans down 11% QoQ; net charge-offs 5 bps annualized.
Board declared $0.14 quarterly dividend, payable Feb 23 to holders of record Feb 9; tangible book value up 6% YoY.

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 the fourth quarter ended December 31, 2023 results: net income $26.5 million, EPS $0.22 per diluted common share.

Period: the fourth quarter ended December 31, 2023
Net income: $26.5 million
EPS: $0.22 per diluted common share
Result: reported results

Exact text from the filing

For the three months ended December 31, 2023, net income totaled $26.5 million, or $0.22 per diluted common share.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

HOPE BANCORP INC reported the full year ended December 31, 2023 results: net income $133.7 million, EPS $1.11 per diluted common share.

Period: the full year ended December 31, 2023
Net income: $133.7 million
EPS: $1.11 per diluted common share
Result: reported results

Exact text from the filing

For the full year ended December 31, 2023, net income totaled $133.7 million, or $1.11 per diluted common share.

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Source: SEC EDGAR

accession 0001128361-24-000002

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