Hope Bancorp(US:HOPE)2023-10-23 18:24Financial Performance - Net income for 3Q23 was $30 million, or $025 per diluted share[2] - Net interest income for 3Q23 was $135 million, a 4% increase QoQ, driven by net interest margin expansion of +13 bps QoQ[2] - Noninterest income for 3Q23 was $8 million, compared to $17 million in 2Q23[46, 60] Balance Sheet Strength - Total capital ratio was 1323% at 9/30/23[2] - Tangible common equity (TCE) ratio was 796% at 9/30/23[2] - Available borrowing capacity, cash & equivalents, & unpledged investment securities totaled $83 billion, representing 53% of deposits, at 9/30/23[2, 16, 21] - Total deposits were $157 billion at 9/30/23, a 1% increase QoQ, driven by a 3% QoQ growth in customer deposits[2, 26] - Gross loans were $143 billion at 9/30/23, a 4% decrease QoQ[2] Asset Quality - Nonperforming assets (NPA) were $62 million at 9/30/23, a 20% decrease QoQ[2] - NPAs represented 031% of total assets at 9/30/23, an improvement from 038% at 6/30/23[2] - Net charge-offs for 3Q23 were $31 million, including an idiosyncratic charge-off of $234 million[2, 70]