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  6. Hope Bancorp Acquires Pacific International Bancorp

M&A Deal Summary

Hope Bancorp Acquires Pacific International Bancorp

On February 15, 2013, Hope Bancorp acquired financial services company Pacific International Bancorp for 8M USD

Acquisition Highlights
  • This is Hope Bancorp’s 3rd transaction in the Financial Services sector.
  • This is Hope Bancorp’s 4th largest (disclosed) transaction.
  • This is Hope Bancorp’s 3rd transaction in the United States.
  • This is Hope Bancorp’s 1st transaction in Washington.

M&A Deal Summary
Date 2013-02-15
Target Pacific International Bancorp
Sector Financial Services
Buyer(s) Hope Bancorp
Deal Type Add-on Acquisition
Deal Value 8M USD
Advisor(s) Keefe, Bruyette & Woods (Financial)
Graham & Dunn PC (Legal)

Target

Pacific International Bancorp

Seattle, Washington, United States
Pacific International Bancorp, Inc. is the holding company of Pacific International Bank which is the oldest and largest Korean American Bank headquartered in the Pacific Northwest. Pacific International Bank opened in November 2001. It is a business bank and has been a significant supporter of small businesses within the Korean American and other minority communities. Small Business Administration (SBA) lending has been a top priority Pacific International Bank, which has sponsored and held several small business financing workshops for the local small business community.

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Buyer(S) 1

Buyer

Hope Bancorp

Los Angeles, California, United States
Category Company
Founded 1986
Sector Financial Services
Employees1,244
Revenue 474M USD (2024)
DESCRIPTION

Hope Bancorp operates as the bank holding company for Bank of Hope that provides retail and commercial banking services for businesses and individuals. Hope Bancorp was founded in 1986 and is based in Los Angeles, California.

DEAL STATS #
Overall 3 of 6
Sector: Financial Services M&A 3 of 6
Type: Add-on Acquisition M&A Deals 3 of 3
State: Washington M&A 1 of 1
Country: United States M&A 3 of 6
Year: 2013 M&A 1 of 2
Size (of disclosed) 4 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-11-30 Center Financial

Los Angeles, California, United States

Center Financial Corp., offers financial services.

Buy $286M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-04-16 Foster Bankshares

Rolling Meadows, Illinois, United States

Foster Bank, a wholly owned subsidiary of Foster Bankshares, was founded in 1989 as one of the first Korean-American banks in the Chicago area. Foster Bank is a state-chartered bank, operating eight branches in the Chicago metropolitan area and one branch in Annandale, Virginia.

Buy $5M
Mergr

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