Hope Bancorp, Inc. - Common Stock (HOPE)

Competitors to Hope Bancorp, Inc. - Common Stock (HOPE)

Banner Corporation 

Banner Corporation, like Hope Bancorp, is a bank holding company that specializes in commercial banking and personal financial services. The competition mainly revolves around consumer loans, retail banking services, and drive for new customer acquisition. However, Banner’s superior financial performance metrics and strategic acquisitions have resulted in a diversified business model that positions it as a formidable competitor in the Pacific Northwest, allowing it to leverage economies of scale in an expanding market.

CIT Group Inc.

CIT Group Inc. provides a variety of lending and leasing services to small and middle market businesses, similar to the community-focused services of Hope Bancorp. Both companies focus on supporting small businesses through various financial products, including commercial loans. CIT has a competitive advantage due to its diversified portfolio and larger asset size, allowing for broader service offerings and potentially lower cost of capital.

East West Bancorp, Inc. 

East West Bancorp, Inc. focuses on serving the Asian American community and businesses, providing a wide range of banking services similar to Hope Bancorp. Both institutions compete for market share in California and surrounding markets by offering competitive loan products, including mortgages, business loans, and commercial real estate financing. However, East West Bancorp has a larger asset base and a more established presence in key financial markets, giving it an edge in resources and brand recognition.

First Internet Bancorp 

First Internet Bancorp operates primarily as an online bank that offers personal and commercial banking products, competing with Hope Bancorp in the digital space. The convenience and accessibility provided by First Internet's banking services attract tech-savvy customers who prefer online banking solutions over traditional banks. First Internet Bancorp holds a competitive advantage through its strong digital infrastructure and marketing strategies that cater specifically to an evolving digital banking audience.

TriCo Bancshares 

TriCo Bancshares is involved in commercial banking and offers similar products as Hope Bancorp, including loans and deposits. Operating mainly in Northern California, TriCo has a strong focus on community engagement and local customer service, which competes directly with Hope Bancorp's community-oriented approach. However, TriCo has reported overall higher growth metrics and stronger capital ratios, positioning it as a more favorable competitor with advantages in market penetration and financial stability.