$HOPE

BBCN BANCORP INC

CIK:0001128361|SEC Filings

Consolidated Statements Of (Loss) Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
INTEREST INCOME:
Interest and fees on loans	$ 211,378	$ 211,363	$ 417,297	$ 406,324
Interest on investment securities	20,359	17,769	39,577	33,661
Interest on cash and deposits at other banks	3,808	8,783	7,586	13,988
Interest on other investments	632	1,177	1,861	2,285
Total interest income	236,177	239,092	466,321	456,258
INTEREST EXPENSE:
Interest on deposits	101,785	118,852	203,240	232,437
Interest Expense, FHLB and FRB borrowings	3,180	364	5,588	720
Interest on other debt	2,243	2,421	4,467	4,829
Total interest expense	107,208	121,637	213,295	237,986
NET INTEREST INCOME	128,969	117,455	253,026	218,272
PROVISION FOR CREDIT LOSSES	6,770	11,092	15,420	15,892
NET INTEREST INCOME AFTER PROVISION FOR CREDIT LOSSES	122,199	106,363	237,606	202,380
NONINTEREST INCOME:
Service fees on deposit accounts	3,395	3,106	6,730	6,027
International service, wire transfer and foreign currency fees	1,982	1,590	4,237	3,543
Other customer-driven income and fees	5,739	4,733	10,616	8,479
Net gains on sales of SBA loans	4,447	3,998	7,713	7,129
Net (gains) losses on sales of investment securities AFS	1,172	(38,856)	1,776	(38,856)
Other noninterest income	2,115	2,473	4,745	6,410
Total noninterest income (loss)	18,850	(22,956)	35,817	(7,268)
NONINTEREST EXPENSE:
Salaries and employee benefits	56,901	52,834	113,124	101,294
Occupancy, furniture and equipment	11,353	11,093	21,919	19,929
Software and subscriptions	7,144	6,067	13,429	10,655
Data and item processing	3,206	3,143	6,774	5,505
Amortization of investments in affordable housing partnerships	2,554	2,430	5,028	4,391
Federal Deposit Insurance Corporation (“FDIC”) assessments	2,783	2,488	5,597	4,990
FDIC special assessment (reversal)	0	0	(58)	0
Earned interest credit expense	2,501	3,310	4,884	6,397
Merger-related costs	2,058	17,281	2,292	19,800
Other noninterest expense	9,964	10,827	19,930	20,373
Total noninterest expense	98,464	109,473	192,919	193,334
INCOME (LOSS) BEFORE INCOME TAXES	42,585	(26,066)	80,504	1,778
INCOME TAX PROVISION (BENEFIT)	9,554	(1,316)	17,933	5,432
NET INCOME (LOSS)	$ 33,031	$ (24,750)	$ 62,571	$ (3,654)
EARNINGS (LOSS) PER COMMON SHARE
Basic (in dollars per share)	$ 0.26	$ (0.19)	$ 0.49	$ (0.03)
Diluted (in dollars per share)	$ 0.26	$ (0.19)	$ 0.49	$ (0.03)

Consolidated Statements Of Cash Flows (Unaudited) - USD ($) shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ 62,571	$ (3,654)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Discount accretion, net of depreciation and amortization	28,196	18,122
Stock-based compensation expense	3,712	3,572
Provision for credit losses	15,420	15,892
Gains on BOLI	(1,335)	(1,101)
Net gains on sales of loans	(8,220)	(8,998)
Net change in fair value of derivatives	(5,332)	(3,243)
Net (gains) losses on sales of investment securities AFS	(1,776)	38,856
Net change in deferred income taxes	(1,909)	409
Proceeds from sales of loans held for sale	174,229	85,510
Originations of loans held for sale	(160,057)	(66,870)
Originations of servicing assets	(3,560)	(3,430)
Net change in accrued interest receivable	(1,381)	2,798
Net change in other assets	11,877	6,081
Net change in accrued interest payable	(14,445)	(22,724)
Net change in other liabilities	(23,774)	(25,299)
Net cash provided by operating activities	74,216	35,921
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in interest earning deposits in other financial institutions	(8,184)	0
Redemption of interest earning deposits in other financial institutions	248	0
Purchase of securities	(493,279)	(686,655)
Proceeds from matured, called, or paid-down securities	210,757	112,547
Proceeds from sales of securities	156,047	953,057
Proceeds from matured, called, or paid-down securities	8,930	6,787
Purchase of investments	(2,934)	(47,597)
Proceeds from redemptions of investments	114	134
Proceeds from sales of loans held for sale previously classified as held for investment	62,026	108,662
Net change in loans receivable	(325,633)
Net change in loans receivable		119,173
Redemption of FHLB and Federal Reserve Bank ("FRB") stock	450	10,347
Purchase of premises and equipment	(6,423)	(5,148)
Proceeds from BOLI death benefits	0	964
Investments in affordable housing partnerships	(8,776)	(2,824)
Investments in renewable energy tax credits	(4,969)	0
Proceeds from terminations of derivatives	3,815	0
Net cash received from the acquisition of Territorial	0	86,696
Net cash (used in) provided by investing activities	(407,811)	656,143
CASH FLOWS FROM FINANCING ACTIVITIES
Net change in deposits	273,400	(54,560)
Proceeds from FHLB advances	322,000	100,000
Repayment of FHLB advances	(135,000)	(330,000)
Proceeds from FRB borrowings	212,000	172,100
Repayment of FRB borrowings	(212,000)	(311,100)
Purchase of treasury stock	(8,717)	0
Cash dividends paid on common stock	(35,845)	(34,835)
Taxes paid in net settlement of restricted stock	(1,859)	(2,135)
Issuance of additional stock pursuant to various stock plans	0	1
Net cash provided by (used in) financing activities	413,979	(460,529)
NET CHANGE IN CASH AND CASH EQUIVALENTS	80,384	231,535
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	560,059	458,199
CASH AND CASH EQUIVALENTS, END OF PERIOD	640,443	689,734
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid for interest	226,949	261,049
Cash paid for income taxes, net	5,316	1,799
SUPPLEMENTAL DISCLOSURES OF NON-CASH ACTIVITIES
Transfer from loans receivable to loans held for sale	74,584	115,879
Transfer from loans held for sale to loans receivable	125	0
Lease liabilities arising from obtaining ROU assets	5,501	3,297
New commitments to fund investments in renewable energy tax credits	25,000	0
Identifiable assets acquired, net of cash		1,844,093
Identifiable assets acquired, net of cash	(3,213)
Liabilities assumed	0	1,871,117
Goodwill	$ 3,213	$ 13,654
Issuance of common stock as consideration	0	73,326

Consolidated Statements Of Financial Condition - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Cash and cash equivalents:
Cash and due from banks	$ 214,045	$ 209,478
Interest earning cash in other banks	426,398	350,581
Total cash and cash equivalents	640,443	560,059
Interest earning deposits in other financial institutions	7,936	0
Investment securities available for sale (“AFS”), at fair value	1,946,810	1,833,082
Amortized Cost	232,443	239,782
Equity investments	45,250	42,476
Loans held for sale, at lower of cost or fair value	92,667	86,905
Loans receivable, net of allowance for credit losses of $153,218 and $156,661 at June 30, 2026 and December 31, 2025, respectively	14,788,302	14,544,351
Federal Home Loan Bank (“FHLB”) stock, at cost	17,250	17,700
Premises and equipment, net	69,968	69,589
Accrued interest receivable	53,592	52,211
Deferred tax assets, net	185,746	184,389
Bank owned life insurance (“BOLI”)	142,058	140,724
Investments in affordable housing partnerships	31,689	27,941
Operating lease right-of-use assets (“ROU”), net	54,581	57,443
Goodwill	484,129	480,916
Core deposit intangible assets, net	42,761	45,022
Servicing assets, net	14,654	12,954
Other assets	141,637	136,082
Total assets	18,991,916	18,531,626
Deposits:
Noninterest bearing	3,548,452	3,371,759
Interest bearing:
Money market and NOW accounts	5,066,860	4,700,146
Savings deposits	1,012,868	1,156,227
Time deposits	6,248,363	6,375,011
Total deposits	15,876,543	15,603,143
FHLB borrowings	472,000	284,922
Convertible notes and subordinated debentures, net	111,675	110,962
Accrued interest payable	63,865	78,310
Operating lease liabilities	56,041	59,258
Other liabilities	115,940	111,763
Total liabilities	16,696,064	16,248,358
Commitments and contingent liabilities (Note 9)
STOCKHOLDERS’ EQUITY:
Common stock, $0.001 par value; 300,000,000 and 300,000,000 authorized shares at June 30, 2026 and December 31, 2025, respectively: issued and outstanding 145,897,397 and 127,741,836 shares, respectively, at June 30, 2026, and issued and outstanding 145,584,490 and 128,201,655 shares, respectively, at December 31, 2025	146	146
Additional paid-in capital	1,525,555	1,523,702
Retained earnings	1,199,120	1,172,394
Treasury stock, at cost; 18,155,561 and 17,382,835 shares at June 30, 2026 and December 31, 2025, respectively	(273,384)	(264,667)
Accumulated other comprehensive loss, net	(155,585)	(148,307)
Total stockholders’ equity	2,295,852	2,283,268
Total liabilities and stockholders’ equity	$ 18,991,916	$ 18,531,626