Bank of Hope Receives Regulatory Approvals to Acquire the Commercial Banking Unit of SMBC MANUBANK
Hope Bancorp announced that its subsidiary, Bank of Hope, received all required regulatory approvals from the Federal Deposit Insurance Corporation and the State of California to complete its previously announced acquisition of the Commercial Banking Unit of SMBC MANUBANK, a wholly owned subsidiary of SMBC.
Why it matters — This clears a key regulatory hurdle for Bank of Hope's planned acquisition of MANUBANK's commercial banking unit, bringing the deal a step closer to completion.