Bank of Hope
| Company type | Public |
|---|---|
| Industry | Banking, Financial services |
| Predecessor | Wilshire Bank, BBCN Bank |
| Founded | December 30, 1980 in Los Angeles, California, United States |
| Headquarters | Los Angeles , United States |
Area served | United States (including Los Angeles, Seattle, Chicago, Houston, Hawaii) |
| Products | Commercial banking, loans |
| Parent | Hope Bancorp, Inc. |
Bank of Hope is a financial institution headquartered in Los Angeles that primarily serves the Korean American demographic. The bank was initially established on December 30, 1980, under the name Wilshire Bank.
On November 30, 2011, Center Financial Corporation, founded in 1986, merged with Nara Bank, which had been operating since 1989. Following this merger, Nara Bancorp, Inc. was renamed BBCN Bancorp, Inc., and Center Bank was rebranded as BBCN Bank—an acronym representing Business Bank of Center and Nara.
In February 2013, BBCN Bancorp expanded its operations by acquiring Pacific International Bancorp, a bank chartered in Washington state with four branches located in the Seattle metropolitan area.
By August of the same year, the institution further extended its reach into the Chicago market through the acquisition of Foster Bankshares, Inc., thereby becoming the largest Korean American bank serving that region.
The merger between BBCN Bank and Wilshire Bank in July 2016 led to the formation of Bank of Hope, with Hope Bancorp, Inc. established as the parent holding company.
A proposed acquisition of U & I Financial Corp, based in Seattle, was announced for 2017 but was subsequently called off.
In August 2017, Bank of Hope launched a new branch in Houston as part of its strategy to broaden its geographic presence.
Amid the COVID-19 pandemic, the bank encountered over $3 billion in loans that were either deferred or modified—amounting to 170% of its tier-1 capital—with more than half of its asset portfolio consisting of commercial real estate loans. This represented one of the highest risk exposures compared to other banks of similar size.
On April 2, 2025, Bank of Hope completed a merger with Territorial Bancorp, which operates as Territorial Savings Bank in Hawaii. Following this transaction, the entity was renamed Territorial Savings and now functions as a division within Bank of Hope.