Hope Bancorp, Inc. Announces Retirement of Directors Chung Hyun Lee and Jin Chul Jhung
March 24, 2021 at 01:45 am IST
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Hope Bancorp, Inc. announced that Chung Hyun Lee and Jin Chul Jhung have each advised the board of directors of their decision not to stand for re-election at the 2021 Annual Meeting of Stockholders (the “Meeting”) and will retire from the boards of the Company and Bank following the election of directors at the Meeting. The date and time of the 2021 Annual Meeting of Stockholders will be announced with the filing of a definitive proxy statement in April 2021.
Hope Bancorp, Inc. is the holding company of Bank of Hope (the Bank). The Company's loan portfolio segments include commercial real estate (CRE) loans, commercial and industrial (C&I) loans, residential mortgage loans, and consumer and other loans. CRE loans are extended for the purchase and refinance of commercial real estate and are generally secured by first deeds of trust and are collateralized by residential or commercial properties. C&I loans are loans provided to businesses for various purposes such as for working capital, purchasing inventory, debt refinancing, business acquisitions, international trade finance activities, and other business related financing needs, and also include syndicated loans. Residential mortgage loans are extended for personal, family, or household use and are secured by a mortgage or deed of trust. Consumer and other loans consist of home equity, credit cards, and other personal loans. It operates over 54 full-service branches in the United States.