Hope Bancorp appoints CEO Kevin Kim to additional role of Chairman of the Board alongside Scott Yoon-Suk Whang as Lead Independent Director

– USA, CA –  Hope Bancorp, Inc. (NASDAQ: HOPE), the holding company of Bank of Hope, today announced that its Board of Directors appointed President and Chief Executive Officer Kevin S. Kim as Chairman of the Board of Directors of the Company and Bank, effective immediately. Mr. Kim succeeds Scott Yoon-Suk Whang, who was appointed Lead Independent Director of the Company and Bank, effective immediately.

“Our Board of Directors has absolute confidence in Mr. Kim’s ability to lead the Company’s strategic vision,” said Scott Yoon-Suk Whang, Lead Independent Director. “We believe that unifying the role of the Chairman and CEO is the most effective leadership structure at this time. And in accordance with our governance philosophy, I will continue my active participation as the Lead Independent Director on behalf of the Board and provide appropriate independent oversight. We also believe this structure will further promote our Board’s effectiveness and more appropriately allocate authority and responsibility between the Board and management.”

“On behalf of the Board of Directors, I express my sincerest appreciation to Mr. Whang for his strong leadership over the past two years as Chairman of the Board. I look forward to continuing to work collaboratively with him as our Lead Independent Director,” said Kevin S. Kim, Chairman, President & Chief Executive Officer.

About Hope Bancorp, Inc.

Hope Bancorp, Inc. is the holding company of Bank of Hope, the first and only super regional Korean-American bank in the United States with $15.4 billion in total assets as of March 31, 2019. Headquartered in Los Angeles and serving a multi-ethnic population of customers across the nation, Bank of Hope operates 60 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia, and Alabama. The Bank also operates SBA loan production offices in Seattle, Denver, Dallas, Atlanta, Portland, Oregon, New York City, Northern California and Houston; commercial loan production offices in Northern California and Seattle; residential mortgage loan production offices in Southern California; and a representative office in Seoul, Korea. Bank of Hope specializes in core business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and commercial lending, SBA lending, and international trade financing. Bank of Hope is a California-chartered bank, and its deposits are insured by the FDIC to the extent provided by law. Bank of Hope is an Equal Opportunity Lender.

For more information: https://www.bankofhope.com

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