Hope Bancorp, Inc. (HOPE) Approves $50M Buyback Plan

Hope Bancorp, Inc. (the “Company”) (NASDAQ: HOPE), the holding company of Bank of Hope (the “Bank”), today announced that its board of directors has approved a new share repurchase program that authorizes the Company to repurchase up to $50 million of its common stock.

“This new authorization will enable the Company to continue repurchasing shares of our common stock following the completion of our previous $100 million repurchase program in July 2018,” said Kevin S. Kim, President and Chief Executive Officer of Hope Bancorp. “We are optimistic about the long-term opportunities to enhance the value of our franchise, and we believe that the repurchase of our shares represents an attractive investment opportunity and a valuable tool for creating value for our shareholders.”

Purchases may be made in open-market transactions, in block transactions on or off an exchange, in privately negotiated transactions or by other means as determined by Hope Bancorp’s management and in accordance with the regulations of the Securities and Exchange Commission. The timing of purchases and the number of shares repurchased under the new program will depend on a variety of factors including price, trading volume, corporate and regulatory requirements and market conditions. Repurchases may also be made under a trading plan under Rule 10b5-1, which would permit shares to be repurchased when Hope Bancorp might otherwise be precluded from doing so because of self-imposed trading blackout periods or other regulatory restrictions. The repurchase program may be suspended or discontinued at any time without notice.

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