Hope Bancorp’s first quarter net income rose to $29.5 million, or $0.23 per diluted share, from $21.1 million, or $0.17, a year earlier, a 40% increase. Compared with the fourth quarter of 2025, profit fell 14% from $34.5 million, or $0.27 per share.
Pre-provision net revenue climbed to $46.6 million from $32.6 million a year earlier, up 43%, and edged up 1% from $46.3 million in the prior quarter.
Net interest income reached $124.1 million, up 23% from $100.9 million in the first quarter of 2025, but down 3% from $127.4 million in the fourth quarter. Net interest margin was 2.90%, unchanged from the prior quarter and up from 2.54% a year ago. The cost of interest-bearing deposits fell to 3.37% from 4.14% a year earlier.
Noninterest income was $17.0 million, up 8% from $15.7 million a year ago but down 8% from $18.4 million in the prior quarter. Noninterest expense was $94.5 million, down 5% from $99.4 million in the fourth quarter, though up 13% from $83.9 million a year earlier. The efficiency ratio improved to 67.0% from 68.2% in the prior quarter and 72.0% a year earlier.
Total assets rose to $18.66 billion from $18.53 billion at year-end and $17.07 billion a year earlier. Gross loans were $14.74 billion, essentially flat from $14.79 billion at December 31, 2025, and up from $13.34 billion a year earlier. Total deposits increased to $15.73 billion from $15.60 billion at year-end and $14.49 billion a year earlier.
The loan mix at March 31, 2026 was $8.50 billion in commercial real estate loans, $3.73 billion in commercial and industrial loans, and $2.50 billion in residential mortgage and other loans. That compares with $8.49 billion, $3.79 billion, and $2.50 billion, respectively, at year-end.
Criticized loans fell to $325.1 million from $351.1 million in the prior quarter and $448.7 million a year earlier. The criticized loan ratio improved to 2.22% from 2.39% at year-end and 3.36% a year earlier.
Nonperforming assets declined to $120.5 million from $136.1 million in the fourth quarter, though they were above the $83.9 million reported a year earlier. Net charge-offs increased to $10.7 million from $3.6 million in the fourth quarter and $8.3 million a year earlier. The allowance for credit losses was $155.1 million, down slightly from $156.7 million at year-end and up from $147.4 million a year earlier.
Hope Bancorp repurchased 604,161 shares during the quarter for $6.7 million at an average price of $11.10. Total stockholders’ equity held at $2.28 billion, while book value per share rose to $17.86 from $17.81 at year-end. Today the company's shares have moved -1.03% to a price of $12.43. For more information, read the company's full 8-K submission here.
