Business Wire·Mar 31, 2026, 4:30 PM ET

Bank of Hope to Acquire the Commercial Banking Unit of SMBC MANUBANK in Accretive, All-Cash Transaction

HOPE

Hope Bancorp announced a definitive agreement for Bank of Hope to acquire the Commercial Banking Unit (CBU) of SMBC MANUBANK.
The transaction includes a collaboration agreement to provide commercial & consumer banking services to SMBC's Japanese midsize business & retail customers in the U.S.
The acquisition adds approximately $2.5 billion in loans & $2.7 billion in deposits based on CBU balances as of December 31, 2025.
The CBU operates eight branches in Southern California, deepening Hope's presence in the Greater Los Angeles metropolitan area.
CBU business lines include Japanese Banking, Diversified Industries, Franchise Finance, Commercial Real Estate, SBA loans, & Specialty Deposits.
Combining SMBC's Japanese Banking Division with Hope's Korean Subsidiary Group creates a platform to serve Asian multi-national businesses.
Hope expects the transaction to be over 20% accretive to earnings per share in 2027.
Tangible book value dilution at closing is estimated at 4.5% & is expected to be earned back in approximately two years.
The all-cash transaction is projected to improve anticipated tangible returns on equity to approximately 12% in 2027.
Noninterest bearing demand deposits comprised 22% of the CBU deposit base as of December 31, 2025.
The deal is expected to close in the second half of 2026, subject to regulatory approvals.
Keefe Bruyette & Woods acts as financial advisor to Hope, while RBC Capital Markets acts as exclusive financial advisor to SMBC.
Hope Bancorp holds $18.53 billion in total assets as of December 31, 2025, & operates 45 branches in the continental U.S. & Hawaii under Bank of Hope & Territorial Savings banners.