Hope Bancorp to merge with Territorial Bancorp in a $79m deal.

Hope Bancorp, the holding company of Bank of Hope, agreed to merge with Territorial Bancorp, the stock holding company of Territorial Savings Bank, in a $79m deal. “We believe this combination will strengthen our position as one of the leading Asian American banks in the country by expanding our footprint to the Hawaiian Islands. Upon the close of the transaction, we believe Territorial’s high-quality deposit base will enhance our core funding mix and Territorial’s residential mortgage portfolio will accelerate the diversification of our loans. We look forward to building on Territorial’s 100-plus year legacy of exemplary customer service and support of local communities in a strategically important market," Kevin S. Kim, Hope Bancorp Chairman, President and CEO.