Bank of Hope To Acquire Commercial Banking Unit Of SMBC MANUBANK For ~$2.5B In Loans And $2.7B In Deposits

Bank of Hope is set to acquire the commercial banking unit of SMBC MANUBANK for approximately $2.5 billion in loans and $2.7 billion in deposits. This acquisition aligns with Hope's strategy to enhance its commercial banking capabilities and positions the bank as a key partner for middle market customers from Asia. The deal will also provide attractive core deposit funding and diversify Hope's balance sheet, while deepening its presence in the Greater Los Angeles Metropolitan Area.