Hope Bancorp, Inc. (NASDAQ:HOPE) Q3 2023 Earnings Conference Call October 23, 2023 12:30 PM ET

Company Participants

Angie Yang - Director, IR

Kevin Kim - Chairman, President & CEO

Julianna Balicka - EVP & CFO

Peter Koh - SEVP & COO

Conference Call Participants

Christopher McGratty - KBW

Matthew Clark - Piper Sandler

Gary Tenner - D.A. Davidson

David Chiaverini - Wedbush Securities

Operator

Good day, and welcome to the Hope Bancorp's 2023 Third Quarter Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. Please note, this event is being recorded.

And I would now like to turn the conference over to Angie Yang, Director of Investor Relations. Please go ahead.

Angie Yang

Thank you, Marlise. Good morning, everyone, and thank you for joining us for the Hope Bancorp 2023 third quarter investor conference call. As usual, we will be using a slide presentation to accompany our discussion this morning, which is available in the Presentations page of our Investor Relations website.

Beginning on Slide 2, let me begin with a brief statement regarding forward-looking remarks. The call today may contain forward-looking projections regarding the future financial performance of the company and future events. These statements may differ materially from actual results due to certain risks and uncertainties.

In addition, some of the information referenced on this call today are non-GAAP financial measures. For a more detailed description of the risk factors and a reconciliation of GAAP to non-GAAP financial measures, please refer to the company's filings with the SEC, as well as the safe harbor statements in our press release issued yesterday. Hope Bancorp assumes no obligation to revise any forward-looking projections that may be made on today's call.

Now we have allotted one hour for this call. Presenting from the management side today will be Kevin Kim, Hope Bancorp's Chairman, President and CEO; and Julianna Balicka, our Chief Financial Officer. Peter Koh, our Chief Operating Officer is also here with us as usual and will be available for the Q&A session.

With that, let me turn the call over to Kevin Kim.

Kevin Kim

Thank you, Angie. Good morning, everyone, and thank you for joining us today. Now, let's begin on Slide 3 with a brief overview of the quarter. For the third quarter of 2023, our net income was $30 million, or $0.25 per diluted share. Highlights of our third quarter results include net interest margin expansion of 13 basis points quarter-over-quarter, which led to a 4% linked quarter growth in net interest income.