Hope Bancorp, 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 and Sumitomo Mitsui Banking. 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.
The acquisition adds approximately $2.5 billion in loans and $2.7 billion in deposits, based on the CBU balances as of Dec. 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.
“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,” Kevin Kim, chairman, president and CEO of Hope Bancorp, said. “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.”
Kim added, “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.”
Hirofumi Otsuka, CEO of the Americas division at SMBC, 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.”
Under the terms of the definitive agreement, net assets purchased will be settled in an all-cash transaction. The acquisition includes the CBU’s loan portfolio and deposits.
The transaction has been approved unanimously by the boards of directors of Hope Bancorp and Bank of Hope as well as SMBC Americas and SMBC MANUBANK and is expected to close in the H2/26, subject to customary regulatory approvals and the satisfaction of other customary closing conditions.
Keefe Bruyette and Woods, a Stifel company, is acting as financial advisor and Skadden, Arps, Slate, Meagher & Flom is acting as a legal advisor to Hope. RBC Capital Markets is acting as exclusive financial advisor and Davis Polk & Wardwell as legal advisor to SMBC.
