Toggle SGML Header (+)


Section 1: 8-K (8-K)

Document
false0001128361 0001128361 2019-11-29 2019-11-29



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

November 29, 2019
Date of Report (Date of earliest event reported)

HOPE BANCORP INC
(Exact name of registrant as specified in its charter)

Delaware
000-50245
95-4849715
(State of incorporation)
(Commission File Number)
(I.R.S. Employer Identification No.)

3200 Wilshire Boulevard, Suite 1400
Los Angeles, California 90010
(Address of principal executives offices, including zip code)

(213) 639-1700
(Registrant’s telephone number, including area code)


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Common Stock
,
par value $0.001 per share
HOPE
NASDAQ Global Select Market
(Title of class)
(Trading Symbol)
(Name of exchange on which registered)

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.






Item 8.01 Other Events.
 
On November 29, 2019, Hope Bancorp, Inc. ("the Company") entered into a Rule 10b5-1 trading plan to facilitate the repurchase of its common shares in accordance the Companys $50 million share repurchase program previously announced on July 16, 2019. Repurchases under the Company’s 10b5-1 trading plan, which expires on January 31, 2020, unless the entire repurchase amount has been acquired before that date, will be administered through an independent broker, may be made in the open market or through privately negotiated transactions, and will be subject to the rules of Nasdaq and applicable securities laws and regulations, including Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1932, as amended.


Cautionary Statement Regarding Forward-Looking Statements

This disclosure contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include our expectations regarding the repurchases of our common stock under the stock repurchase program. Forward-looking statements include all statements that are not historical fact. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from expectations. These risks and uncertainties include our stock price, the trading volume of our stock, the nature of other investment opportunities presented to us from time to time, our cash flows from operations, general economic conditions, and other risks and uncertainties that are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2018, and subsequent reports that we file with the Securities and Exchange Commission. Forward-looking statements represent our beliefs and assumptions only as of the date of this disclosure. We disclaim any obligation to update forward-looking statements, except as required by law.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits
Exhibit No.
 
Description of Exhibit
 
 
 
99.1
 
104
 
Cover Page Interactive Data File (embedded within the Inline XBRL document)







SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 
 
HOPE BANCORP, INC.
 
 
 
 
Date: December 3, 2019
By:
/s/ Alex Ko
 
 
 
Alex Ko
 
 
 
Executive Vice President and Chief Financial Officer







EXHIBIT INDEX

Exhibit No.
 
Description of Exhibit
 
 
 
99.1
 
104
 
Cover Page Interactive Data File (embedded within the Inline XBRL document)




(Back To Top)

Section 2: EX-99.1 (EXHIBIT 99.1)

Exhibit


401349597_hopebancorpa05.jpg
News Release

HOPE BANCORP ANNOUNCES 10b5-1 SHARE REPURCHASE PLAN


LOS ANGELES - December 3, 2019 - Hope Bancorp, Inc. (the “Company”) (NASDAQ: HOPE) today announced that it has entered into a Rule 10b5-1 trading plan to facilitate the repurchase of its common shares in accordance with its $50 million share repurchase program previously announced on July 16, 2019. Repurchases under the Company’s 10b5-1 trading plan, which expires on January 31, 2020, unless the entire repurchase amount has been acquired before that date, will be administered through an independent broker, may be made in the open market or through privately negotiated transactions, and will be subject to the rules of Nasdaq and applicable securities laws and regulations, including Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended.

About Hope Bancorp, Inc.

Hope Bancorp, Inc. is the holding company of Bank of Hope, the first and only super regional Korean-American bank in the United States with $15.4 billion in total assets as of September 30, 2019. Headquartered in Los Angeles and serving a multi-ethnic population of customers across the nation, Bank of Hope operates 58 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, and Alabama. The Bank also operates SBA loan production offices in Seattle, Denver, Dallas, Atlanta, Portland, Oregon, New York City, Northern California and Houston; commercial loan production offices in Northern California and Seattle; residential mortgage loan production offices in Southern California; and a representative office in Seoul, Korea. Bank of Hope specializes in core business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and commercial lending, SBA lending and international trade financing. Bank of Hope is a California-chartered bank, and its deposits are insured by the FDIC to the extent provided by law. Bank of Hope is an Equal Opportunity Lender. For additional information, please go to bankofhope.com. By including the foregoing website address link, the Company does not intend to and shall not be deemed to incorporate by reference any material contained or accessible therein.

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include our expectations regarding the repurchases of our common stock under the stock repurchase program. Forward-looking statements include all statements that are not historical fact. Forward-looking statements involve substantial risks and uncertainties that may cause actual results to differ materially from expectations. These risks and uncertainties include our stock price, the trading volume of our stock, the nature of other investment opportunities presented to us from time to time, our cash flows from operations, general economic conditions, and other risks and uncertainties that are more fully described in our filings with the Securities and Exchange Commission, including in the section entitled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2018, and subsequent reports that we file with the Securities and Exchange Commission. Forward-looking statements represent our beliefs and assumptions only as of the date of this press release. We disclaim any obligation to update forward-looking statements, except as required by law.

Contacts:
Alex Ko
EVP & Chief Financial Officer
213-427-6560


Angie Yang
SVP, Director of Investor Relations &
Corporate Communications
213-251-2219
# # #


(Back To Top)