Hope Bancorp Inc. (HOPE) Financial Statements (2024 and earlier)

Company Profile

Business Address 3200 WILSHIRE BLVD
LOS ANGELES, CA 90010
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 6021 - National Commercial Banks (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

3/31/2024
MRQ
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments1,972,717549,907386,977438,920747,657459,606
Cash and cash equivalents1,928,967507,511329,117379,221698,567459,606
Short-term investments43,75042,39657,86059,69949,090 
Total current assets:1,972,717549,907386,977438,920747,657459,606
Noncurrent Assets
Operating lease, right-of-use asset46,61155,03452,70147,65358,593
Property, plant and equipment50,61146,85945,66748,40952,01253,794
Intangible assets, net (including goodwill)468,385470,176472,121474,158476,283478,511
Goodwill464,450464,450464,450464,450464,450464,450
Intangible assets, net (excluding goodwill)3,9355,7267,6719,70811,83314,061
Deferred income tax assets135,215150,40949,71947,693 
Total noncurrent assets:700,822722,478620,208617,913586,888532,305
Other undisclosed assets16,457,98317,892,10616,881,87616,049,83114,332,89514,314,041
TOTAL ASSETS:19,131,52219,164,49117,889,06117,106,66415,667,44015,305,952
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt1,795,726  150,000347,807345,000
Total current liabilities:1,795,726  150,000347,807345,000
Noncurrent Liabilities
Long-term debt and lease obligation:   44,62538,34147,699 
Liabilities, other than long-term debt59,40057,1119,51415,14828,48146,507
Operating lease, liability38,38345,31944,62538,34147,699
Investment program, proportional amortization method, elected, commitment21,01711,7929,51415,14828,48146,507
Total noncurrent liabilities:59,40057,11154,13953,48976,18046,507
Other undisclosed liabilities15,155,15317,088,05215,741,93914,849,43013,207,44213,011,234
Total liabilities:17,010,27917,145,16315,796,07815,052,91913,631,42913,402,741
Equity
Equity, attributable to parent2,121,2432,019,3282,092,9832,053,7452,036,0111,903,211
Common stock138137136136136136
Treasury stock, value(264,667)(264,667)(250,000)(200,000)(163,820)(150,000)
Additional paid in capital1,439,9631,431,0031,421,6981,434,9161,428,0661,423,405
Accumulated other comprehensive income (loss)(204,738)(230,857)(11,412)32,7539,149(32,705)
Retained earnings1,150,5471,083,712932,561785,940762,480662,375
Total equity:2,121,2432,019,3282,092,9832,053,7452,036,0111,903,211
TOTAL LIABILITIES AND EQUITY:19,131,52219,164,49117,889,06117,106,66415,667,44015,305,952

Income Statement (P&L) ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Revenues958,916713,834532,609554,967627,673627,058
Net investment income958,626712,952528,174554,967627,673594,103
Cost of revenue(29,100)(9,600) (95,000)(7,300)(14,900)
Provision for loan, lease, and other losses(29,100)(9,600) (95,000)(7,300) 
Financial services costs(14,900)
Gross profit:929,816704,234532,609459,967620,373612,158
Operating expenses(46,938)(52,734)(60,104)(52,715)(73,189)(223,819)
Operating income:882,878651,500472,505407,252547,184388,339
Interest and debt expense(523,017)(137,694)(53,762)(131,380)(218,191)(162,245)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes    (133,581)(102,643)29,387
Income from continuing operations before equity method investments, income taxes:359,861513,806418,743142,291226,350255,481
Other undisclosed loss from continuing operations before income taxes(181,974)(217,758)(143,471)   
Income from continuing operations before income taxes:177,887296,048275,272142,291226,350255,481
Income tax expense(44,214)(77,771)(70,700)(30,776)(55,310)(65,892)
Income from continuing operations:133,673218,277204,572111,515171,040189,589
Income before gain (loss) on sale of properties:204,572111,515171,040189,589
Net income available to common stockholders, diluted:133,673218,277204,572111,515171,040189,589

Comprehensive Income ($ in thousands)

3/31/2024
TTM
12/31/2023
12/31/2022
12/31/2021
12/31/2020
12/31/2019
12/31/2018
Net income:133,673218,277204,572111,515171,040189,589
Other comprehensive income (loss)   (44,165)23,60441,854(11,205)
Comprehensive income:133,673218,277160,407135,119212,894178,384
Other undisclosed comprehensive income (loss), net of tax, attributable to parent26,119(219,445)    
Comprehensive income (loss), net of tax, attributable to parent:159,792(1,168)160,407135,119212,894178,384

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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