Hope Bancorp, Inc. and Bank of Hope Announce Board Changes
July 07, 2017 at 05:41 am IST
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Hope Bancorp, Inc. announced a changing of the guard as Steven S. Koh passes on his responsibilities as Chairman of the Board of the company and the Bank to Scott Yoon-Suk Whang, effective immediately. Mr. Koh will continue to serve as a member of the Board of Directors of the company and Bank. In recognition of his 31 years of service on the Board, including the former Wilshire Bancorp and Wilshire Bank, during the last 24 years of which he served as Chairman, Mr. Koh will be distinguished as Honorary Chairman of the Board. Mr. Whang, age 71, has been a director of Hope Bancorp, Inc. and Bank of Hope, formerly known as BBCN Bancorp and BBCN Bank, since 2007 and served as the Lead Independent Director since the merger of BBCN and Wilshire. Mr. Whang previously served in the capacities of Vice Chairman of the Company from May 2012 through June 2014 and Lead Independent Director from March 2013 to June 2014.
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.
HOPE BANCORP, INC. 
