Hope Bancorp Inc. announced that Bank of Hope, its bank subsidiary, has entered into a definitive agreement under which Bank of Hope will acquire the Commercial Banking Unit ("CBU") of SMBC MANUBANK, a wholly owned subsidiary of SMBC Americas Holdings Inc. and Sumitomo Mitsui Banking Corporation ("SMBC"). In addition, Bank of Hope and SMBC intend to enter into a collaboration and partnership agreement to provide commercial and consumer banking services to SMBC’s Japanese midsize business and retail customers needing banking services in the United States.
This transaction aligns with Hope Bancorp’s core strategies to enhance its commercial banking capabilities, expand services and product offerings to the Asian subsidiary and middle market business in the United States, and continue to grow its core funding. The acquisition adds approximately $2.5 billion in loans and $2.7 billion in deposits, based on the CBU balances as of December 31, 2025. Through the CBU, SMBC MANUBANK operates eight branches in Southern California with a focus on the attractive greater Los Angeles metropolitan area. The addition of these branches increases Bank of Hope’s core footprint in Los Angeles, the second-largest metropolitan area in the United States.
The CBU’s business lines are complementary to Bank of Hope’s key business segments, positioning the company for efficient growth. The CBU is a full service commercial bank offering a broad range of banking services across the following business lines: 1) the Japanese Banking Division, which has deep relationships with Japanese businesses that operate in the United States, 2) Diversified Industries, serving middle market and larger mid-corporate clients, 3) Franchise Finance, serving top tier branded quick service restaurant franchisees, 4) Commercial Real Estate, 5) Small Business Administration (SBA) loans, and 6) Specialty Deposit group, including Trust and Estate banking. Combining SMBC MANUBANK’s Japanese Banking Division and Bank of Hope’s Korean Subsidiary Group creates a unique, top-tier platform designed to serve Asian multi-national businesses.
"We are very excited to announce this accretive transaction, which strengthens our product offering, deepens our talent and expertise, and enhances our ability to serve the diverse multicultural communities that define modern America, with a particular focus on Korean and Japanese clients. The addition of the Japanese Banking Division complements our Korean Subsidiary Banking Group and positions us to drive strategic growth in cross-border middle market banking across the continental United States and Hawaii," said Hope Bancorp Chairman, President and CEO Kevin Kim.
"We are acquiring significant core deposits and an attractive lending business, which will meaningfully contribute to enhanced profitability and lead to earnings accretion, as we remain focused on delivering long-term value for our stockholders. We look forward to partnering with SMBC and serving the retail and commercial banking needs of Japanese clients operating in the U.S. We are pleased to welcome the CBU associates joining our Bank of Hope team," added Kim.
SMBC Americas Division CEO Hirofumi Otsuka said: "We are pleased to have reached this agreement with Bank of Hope, a trusted and well-established financial institution with a strong reputation for client service and delivering high-quality banking solutions for the communities it serves. We are confident that Bank of Hope, backed by a strong and experienced team, is well positioned to drive continued growth and provide stability and continuity for customers. For SMBC in the Americas, this transaction reinforces our U.S. strategy and our commitment to wholesale and institutional banking, positioning us squarely behind businesses where we have scale, depth, and competitive differentiation, allowing us to fully leverage SMBC’s global platform to deliver high-impact, specialized solutions across corporate and investment banking, global markets, and transaction banking."