2024-02-02 05:23:40 ET
Summary
- Hope Bancorp's Q4 revenue misses expectations, but non-GAAP EPS beats expectations.
- The bank's loan portfolio has contracted, mainly due to declines in commercial and CRE loans.
- Deposits have also declined, raising concerns about the bank's ability to issue new loans and meet growth targets.
Hope Bancorp ( HOPE ) is a small bank based in Los Angeles, California. A few days ago there was the release of Q4 2023 and the results were mixed:
- Revenue of $135.2M (-16.9% Y/Y) misses by $2.67M.
- Q4 Non-GAAP EPS of $0.32 beats by $0.02.
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For further details see:
Hope Bancorp: Deposits Drop, So Does Shareholder Confidence