HOPE BANCORP, INC. (NASDAQ:HOPE) Files An 8-K Changes in Registrant’s Certifying Accountant
Item 4.01. Change in Registrants Certifying Accountant.
by the Audit Committee of the Board of Directors, Hope Bancorp,
Inc. (the Company) engaged Crowe Horwath LLP (Crowe Horwath)
effective May 25, 2017 as the Companys independent registered
public accounting firm for the fiscal year ending December 31,
2017 and dismissed its prior audit firm, BDO USA, LLP (BDO). The
change in accountant was not a result of any dissatisfaction with
the quality of professional services rendered by BDO. The
decision to change registered public accounting firms and the
appointment of the new registered public accounting firm was made
following the recommendation by the Audit Committee and the
unanimous approval by the Companys Board of Directors.
through May 25, 2017, there were no disagreements between the
Company and BDO on any matter of accounting principles or
practices, financial statement disclosure or auditing scope or
procedures, which, if not resolved to the satisfaction of BDO,
would have caused BDO to make reference to the matter in their
report. Other than advising the Company regarding the existence
of material weaknesses in internal control over financial
reporting as of December 31, 2016 discussed below, none of the
reportable events described in Item 304(a)(1)(v) of Regulation
S-K of the U.S. Securities and Exchange Commissions (the
Commission) rules and regulations have occurred during the fiscal
years ended December 31, 2015 and 2016 or through May 25, 2017.
statements for the years ended December 31, 2016 and 2015 did not
contain an adverse opinion or a disclaimer of opinion and were
not qualified or modified as to uncertainty, audit scope, or
accounting principles, except that BDO issued an adverse audit
report on the effectiveness of the Companys internal control over
financial reporting in its Report of Independent Registered
Public Accounting Firm as of December 31, 2016 due to material
weaknesses in our internal control over financial reporting as of
December 31, 2016. Both the Audit Committee and the Board of
Directors have discussed the identified material weaknesses with
BDO. The Company has authorized BDO to respond fully to any
inquiries of Crowe Horwath concerning the identified material
weaknesses.
disclosure. The Company has also requested that BDO furnish the
Company with a letter addressed to the Commission stating whether
BDO agrees with the above statements, and if not, stating the
respects in which BDO does not agree. A copy of BDOs letter,
dated May 30, 2017, is attached as Exhibit 16.1 to this Current
Report on Form 8-K.
through May 25, 2017, the Company did not consult with Crowe
Horwath regarding (i) the application of accounting principles to
a specified transaction, (ii) the type of audit opinion that
might be rendered by Crowe Horwath, or (iii) any matter that was
either the subject of a disagreement as defined in Item
304(a)(1)(iv) of Regulation S-K or a reportable event as defined
in Item 304(a)(1)(v) of Regulation S-K.
change in its independent registered public accounting firm. A
copy of the news release is attached hereto as Exhibit 99.1 and
is incorporated herein by reference.
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16.1
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Letter from BDO USA, LLP to the U.S. Securities and
Exchange Commission, dated May 30, 2017. |
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99.1
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News release dated May 31, 2017 announcing the change in
Hope Bancorp, Inc.s independent registered public accounting firm. |
About HOPE BANCORP, INC. (NASDAQ:HOPE)
Hope Bancorp, Inc., formerly BBCN Bancorp, Inc., is the holding company of Bank of Hope. Bank of Hope is the regional Korean-American bank in the United States. Bank of Hope operates approximately 85 full-service branches in California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia and Alabama. The Bank also operates small business administration (SBA) loan production offices in Seattle, Denver, Dallas, Atlanta, Northern California, Annandale, Virginia, Portland, Oregon and Fremont, California; residential mortgage loan production offices in California, and a representative office in Seoul, Korea. Bank of Hope specializes in business banking products for small and medium-sized businesses, with an emphasis in commercial real estate and commercial lending, SBA lending and international trade financing. Bank of Hope is a California-chartered bank, and its deposits are insured by the Federal Deposit Insurance Corporation (FDIC). HOPE BANCORP, INC. (NASDAQ:HOPE) Recent Trading Information
HOPE BANCORP, INC. (NASDAQ:HOPE) closed its last trading session down -0.07 at 17.41 with 641,275 shares trading hands.
