Hope Bancorp to Close SMBC MANUBANK Unit Purchase
The regional lender said the all-cash asset purchase of the commercial banking unit is expected to close early in the fourth quarter of 2026.
Hope Bancorp, Inc. (HOPE) will have Bank of Hope acquire the Commercial Banking Unit of SMBC MANUBANK in an all-cash asset purchase, with closing expected early in the fourth quarter of 2026, subject to customary closing conditions.
The deal, first announced in late March, adds the unit’s loan book and deposits to the Los Angeles-based regional bank and deepens its commercial franchise in Southern California. Net assets purchased will be settled in cash, and the transaction includes the CBU’s loan portfolio and deposits.
Chairman, President and Chief Executive Officer Kevin S. Kim said the combination will bring together two complementary organizations, diversify the deposit franchise, strengthen commercial banking capabilities and expand the bank’s presence in the Greater Los Angeles market.
Based on Commercial Banking Unit balances as of Dec. 31, 2025, the acquisition adds about $2.5 billion in loans and $2.7 billion in deposits. The unit operates eight branches in Southern California, concentrated in the greater Los Angeles metropolitan area, and its commercial lending teams are described as complementary to Bank of Hope’s existing segments.
Bank of Hope and SMBC intend to enter a collaboration and partnership agreement to provide commercial and consumer banking services to SMBC’s Japanese midsize business and retail customers that need U.S. banking. The partnership will position Hope as a banking partner to middle-market customers from Asia and combine SMBC MANUBANK’s Japanese Banking Division with Hope’s Korean subsidiary banking group.
The CBU’s deposit mix includes a specialty deposits group covering trust and estate banking, nonprofit organizations and high-net-worth clients, alongside a Japanese Banking Division that is primarily deposit-focused. Loan lines include diversified general middle-market, franchise finance, commercial real estate and SBA lending.
The deal was approved unanimously by the boards of Hope Bancorp, Bank of Hope, SMBC Americas Holdings, Inc. and SMBC MANUBANK. Keefe, Bruyette & Woods, Inc., a Stifel Company, acted as financial advisor to Hope, with Skadden, Arps, Slate, Meagher & Flom LLP as legal advisor; RBC Capital Markets was exclusive financial advisor to SMBC, with Davis Polk & Wardwell LLP as legal advisor.
Hope Bancorp had $18.53 billion in total assets as of Dec. 31, 2025, after adding Territorial Savings as a division of Bank of Hope. The acquisition aligns with its strategy to enhance commercial banking capabilities, expand services to Asian subsidiaries and middle-market businesses in the United States and grow core funding. Closing remains subject to regulatory approvals and other customary conditions.