Territorial Bancorp Inc. reports net loss, merging with Hope Bancorp Inc., dividend approved.

From GlobeNewswire: 2025-01-31 16:30:00

Territorial Bancorp Inc., the holding company of Territorial Savings Bank, reported a net loss of $1.72 million for the three months ended December 31, 2024. The Board approved a dividend of $0.01 per share. The Company is merging with Hope Bancorp, Inc. in a $78.60 million stock-for-stock transaction. Interest income decreased by $2.21 million, while interest expense increased by $2.42 million. Noninterest income increased by $139,000, and noninterest expense increased by $1.42 million. The Company had a provision for credit losses of $51,000. Total assets were $2.17 billion at December 31, 2024. Credit quality remains a focus, with a non-performing asset ratio of 0.09% at December 31, 2024.



Read more at GlobeNewswire: Territorial Bancorp Inc. Announces Fourth Quarter 2024