Item 2.02 Results of Operations and Financial Condition.
On April 28, 2020, Hope Bancorp, Inc. ("HOPE" or the "Company") issued a news
release concerning its results of operations and financial condition for the
first quarter ended and as of March 31, 2020. A copy of the April 28, 2020 press
release is attached hereto as Exhibit 99.1.
Item 8.01 Other Events.
On April 28, 2020, the Company issued a news release announcing that its Board
of Directors declared a quarterly cash dividend of $0.14 per common share. The
cash dividend is payable on or about May 22, 2020 to all stockholders of record
as of the close of business on May 8, 2020. A copy of the April 28, 2020 press
release is attached hereto as Exhibit 99.2.
Item 7.01. Regulation FD Disclosure
The Company previously announced that it will host an investor conference call
on Wednesday, April 29, 2020 at 9:30 a.m. Pacific Time / 12:30 p.m. Eastern Time
to review financial results for its first quarter ended March 31, 2020. A
presentation to accompany the conference call, which contains certain historical
and forward-looking information relating to the Company (the "Presentation
Materials"), has been made available at the Investor Relations section of Hope
Bancorp's website at www.ir-hopebancorp.com. A copy of the Presentation
Materials is attached hereto as Exhibit 99.3.
The information included in this report pursuant to Item 2.02, Item 8.01 and
Item 7.01 of Form 8-K (including Exhibit 99.1, Exhibit 99.2 and Exhibit 99.3)
shall not be deemed to be "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to
the liabilities of that section, nor shall it be deemed to be incorporated by
reference in any filing under the Securities Act of 1933 or the Exchange Act.
The following risk factor supplements the "Risk Factors" section in our 2019
Form 10-K.
The COVID-19 pandemic has had a material and adverse impact on our business,
financial condition and results of operations, and the further impact will
depend on future developments that cannot be predicted, including the scope and
duration of the pandemic, the economic implications of the same, and the actions
taken by governmental authorities in response to the pandemic.
The novel COVID-19 pandemic has substantially and negatively impacted the United
States economy, disrupted global supply chains, considerably lowered equity
market valuations, created significant volatility and disruption in financial
markets, and materially increased unemployment levels. In addition, the pandemic
has resulted in temporary closures of countless businesses and the institution
of social distancing and sheltering in place requirements in most states and
communities. As a result, the demand for our products and services has been and
likely will continue to be significantly adversely impacted, which could
materially and adversely affect our financial condition and results of
operations. Furthermore, the pandemic could result in the recognition of
amplified credit losses in our loan portfolios and increases in our allowance
for loan losses, particularly if businesses remain closed and our customers draw
on their lines of credit. Similarly, because of changing economic and market
conditions, we may be required to recognize impairments on goodwill or the
securities we hold. Our business operations may also be further disrupted if
significant portions of our workforce are unable to work effectively, including
because of challenges arising as a result of circumstances related to working
from home, illness, quarantines, government actions, or other restrictions in
connection with the pandemic, and we have already temporarily closed certain of
our branches. In response to the pandemic, we have also suspended residential
property foreclosure sales, evictions, and involuntary automobile repossessions,
and are offering payment deferrals and other expanded assistance for credit
card, mortgage and small business lending customers, and future governmental
actions may require these and other types of customer-related responses. In
addition, we may take capital actions in response to the COVID-19 pandemic. The
extent to which the COVID-19 pandemic continues to impact our business, results
of operations, and financial condition, as well as our regulatory capital and
liquidity ratios, will depend on future developments that cannot be predicted,
including the scope and duration of the pandemic, the economic implications of
the same and actions taken by governmental authorities and other third parties
in response to the pandemic.
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Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. Description of Exhibit
99.1 News release, dated April 28, 2020, concerning the results of
operations and financial condition for the first quarter ended and as
of March 31, 2020.
99.2 News release, dated April 28, 2020, announcing the declaration of a
quarter cash dividend.
99.3 Presentation Materials, dated April 29, 2020.
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document)
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HOPE BANCORP, INC. 
