Hope Bancorp Completes Merger with Territorial

Hope Bancorp, based in Los Angeles, has successfully completed its merger with Territorial Bancorp, located in Honolulu, marking the end of an extensive bidding process. The merger, announced nearly a year ago, intended to acquire Territorial for $78.6 million in stock. Despite receiving competing offers from Blue Hill Advisors, Territorial's shareholders supported Hope's all-stock offer. Following regulatory approval last month, Territorial Savings Bank will now operate as Territorial Savings, part of the Bank of Hope. This merger expands Hope's presence across the continental U.S. and Hawaii, particularly enriching its multicultural customer base.