LOS ANGELES, January 23, 2025--(BUSINESS WIRE)--Bank of Hope, a wholly owned subsidiary of Hope Bancorp, Inc. (NASDAQ: HOPE), today announced a multipronged relief plan to support victims of the devastating wildfires in Los Angeles, including a $100,000 philanthropic donation to the United Way of Greater Los Angeles Wildfire Response Fund.

"Los Angeles is home to Bank of Hope, and we are truly heartbroken to see the unprecedented destruction in our community," said Kevin S. Kim, Chairman, President and Chief Executive Officer. "Our thoughts and prayers go out to all who are being impacted by the wildfires, and we express our deepest gratitude for the first responders on the ground working tirelessly to save our communities, which continue to be threatened by this devastating fire season. As one of the largest independent banks based in Los Angeles, we are fully cognizant of the leadership role we must play in addressing the immediate needs of those impacted and supporting the longer-term rebuilding efforts."

Bank of Hope’s LA Wildfire Relief Plan includes:

• Corporate Donation of $100,000 to the United Way of Greater Los Angeles Wildfire Response Fund: Through its Wildfire Response Fund, United Way of Greater Los Angeles is addressing urgent, ongoing needs, which include support for low-income individuals and families whose livelihood has been disrupted, people experiencing homelessness and those who provide services to support them, and disruptions to community organizations and small businesses. To learn more, visit unitedwayla.org/wildfire-response-resources/.
• Bank of Hope Employee Donation + Corporate Match: Bank of Hope will match team member donations dollar-for-dollar, the aggregate of which will supplement the corporate donation noted above.
• U.S. SBA Disaster Assistance: Bank of Hope customers who have been impacted by the recent LA wildfires may contact the SBA department via email at SBAWildfireAssist@bankofhope.com for guidance about the online application process for SBA disaster loans and assistance with the requisite document list. Additional information and resources about the U.S. SBA Disaster Assistance program is available at https://www.bankofhope.com/important-notice.
• Disaster Forbearance for Bank of Hope Residential Mortgage Customers: Bank of Hope residential mortgage customers whose homes were damaged or destroyed by the recent LA wildfires may contact the mortgage customer service line at 1-855-816-1347 to request mortgage relief.

"We have not experienced any damage to any of our facilities, and all branches in Los Angeles County are operating under normal business hours," said Kim. "Our team members are proactively reaching out to customers to offer assistance during this time of need. We continue to actively monitor the evolving situation, and, more than ever, we remain steadfast in our commitment to supporting our customers and communities."

About Bank of Hope

Bank of Hope, a wholly owned subsidiary of Hope Bancorp, Inc. (NASDAQ: HOPE), is the first and only super regional Korean American bank in the United States with $17.35 billion in total assets as of September 30, 2024. Headquartered in Los Angeles and serving a multi-cultural population of customers across the nation, the Bank provides a full suite of commercial, corporate and consumer loans, including commercial and commercial real estate lending, SBA lending, residential mortgage and other consumer lending; deposit and fee-based products and services; international trade financing; cash management services, foreign currency exchange solutions, and interest rate derivative products, among others. Bank of Hope operates 46 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Alabama, and Georgia. The Bank also operates SBA loan production offices, commercial loan production offices, and residential mortgage loan production offices in the United States; and a representative office in Seoul, Korea. 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 www.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.

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Contacts

Investor Contact:
Angie Yang
SVP, Director of IR & Corporate Communications
213-251-2219
angie.yang@bankofhope.com

Media Contact:
In Young Park
SVP, Marketing Manager
213-251-2282
inyoung.park@bankofhope.com