HOPE BANCORP, INC. (NASDAQ:HOPE) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; compensatory Arrangements of Certain Officers.
On August 31, 2017, Douglas J. Goddard, age 65 and Executive Vice President and Chief Financial Officer of Hope Bancorp, Inc. (the “Company”), notified the Company of his intention to retire effective October 2, 2017.
On September 1, 2017, the Board of Directors of the Company appointed Alex Ko, age 50 and Executive Vice President and Chief Financial Officer of the Company’s wholly owned subsidiary, Bank of Hope (the “Bank”), as the successor to Mr. Goddard as Executive Vice President and Chief Financial Officer of the Company, effective October 2, 2017. Mr. Ko will also maintain his position as Executive Vice President and Chief Financial Officer of the Bank.
Mr. Ko was named Executive Vice President and Chief Financial Officer of Bank of Hope effective May 1, 2017. Formerly, he served as Executive Vice President, Chief Financial Strategist and Deputy Chief Financial Officer of Bank of Hope, a position he was appointed to upon the merger of equals of BBCN Bank with Wilshire Bank, effective July 29, 2016. Previously, he served as Executive Vice President and Chief Financial Officer of Wilshire Bancorp, Inc. and Wilshire Bank from April 2010 through July 2016, after having joined Wilshire in April 2008 as Senior Vice President and Chief Financial Officer. A Certified Public Accountant, Mr. Ko completed a 12-year tenure with KPMG, LLP, where he focused primarily in the area of financial services.
Mr. Ko does not have any family relationships, and is not involved in any related party transactions that are required to be disclosed herein to applicable SEC statutes, rules or regulations. In his capacity as Executive Vice President and Chief Financial Officer of the Company and the Bank, Mr. Ko will continue to receive an annual salary of $325,531.75, will continue to be eligible to receive an annual cash bonus in the discretion of the Human Resources and Compensation Committee of the Board of Directors of the Company, will continue to be eligible to participate in the 2017 Long Term Incentive Plan, and will continue to be entitled to four (4) weeks of paid vacation per calendar year, perquisites and benefit plans available to other executive employees of the Company, and reimbursement of reasonable business-related expenses.
On September 5, 2017, the Company issued a news release announcing the planned retirement of Mr. Goddard and the appointment of Mr. Ko as Executive Vice President and Chief Financial Officer of the Company, effective October 2, 2017. A copy of the September 5, 2017 press release is attached hereto as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. Description of Exhibit
HOPE BANCORP INC ExhibitEX-99.1 2 hope8k20170905-ex991.htm EXHIBIT 99.1 Exhibit News ReleaseHOPE BANCORP ANNOUNCES RETIREMENT AND APPOINTMENT OF CHIEF FINANCIAL OFFICERLOS ANGELES - September 5,…To view the full exhibit click here
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).