Hope Bancorp, Inc. (HOPE) announced its fourth-quarter earnings on Monday, revealing a net income of $24.34 million, or $0.20 per share. This marks a decline from the $26.48 million, or $0.22 per share, reported during the same period the previous year.
Typically, financial analysts exclude special items when providing estimates, and the consensus among the four analysts who reviewed the company projected earnings to be precisely $0.20 per share.
The company's net interest income fell to $102.14 million, compared to $125.92 million the previous year. Additionally, Hope Bancorp reported a provision for credit losses of $10 million for the fourth quarter, significantly higher than the $2.4 million provision recorded last year.
Furthermore, the company's Board announced a quarterly dividend of $0.14 per share, which is scheduled to be distributed by February 20 to shareholders who are on record by February 6.
