Hope Bancorp, Inc. reported unaudited financial results for the fourth quarter and year ended December 31, 2017. For the quarter, the company reported total interest income of $153,185,000 compared to $135,387,000 a year ago. Net interest income after provision for loan losses was $122,792,000 compared to $116,409,000 a year ago. Income before income taxes was $66,215,000 compared to $67,870,000 a year ago. Net income was $17,984,000 or $0.13 per basic and diluted share compared to $40,630,000 or $0.30 per diluted share a year ago. ROA was 0.51% against 1.20% a year ago. ROE was 3.70% against 8.72% a year ago. Return on average tangible equity was 4.92% against 11.77% a year ago. Book value per common share was $14.23 compared to $13.72 a year ago. Net income, excluding tax reform adjustments were $43,407,000 or $0.32 per basic and diluted share compared to $40,630,000 or $0.30 per diluted share a year ago.

For the year, the company reported total interest income of $572,104,000 compared to $421,934,000 a year ago. Net interest income after provision for loan losses was $464,020,000 compared to $354,355,000 a year ago. Income before income taxes was $263,834,000 compared to $191,199,000 a year ago. Net income was $139,445,000 or $1.03 per diluted share compared to $113,747,000 or $1.10 per diluted share a year ago. ROA was 1.02% against 1.10% a year ago. ROE was 7.31% against 8.47% a year ago. Return on average tangible equity was 9.78% against 10.59% a year ago. Net income, excluding tax reform adjustments were $164,868,000 or $1.22 per basic and diluted share compared to $113,747,000 or $1.10 per diluted share a year ago.

Net charge offs for the quarter was $2,692,000 compared to $1,433,000 a year ago.