Bank of Hope for first-gen and Korean American households

Overview

Bank of Hope’s root institutions date to the 1980s Korean American banking wave in Los Angeles. Today’s brand was created in July 2016 when BBCN Bank and Wilshire Bank completed a merger of equals under Hope Bancorp (Nasdaq: HOPE), marketed as the only super-regional Korean American bank in the U.S. In 2025 it merged with Territorial Bancorp; Territorial Savings continues as a Hawaii division under Bank of Hope. The brand angle is multicultural community banking with commercial, CRE, SBA, and international trade capabilities at larger scale than a single-neighborhood bank.

Strengths

• Largest Korean American banking franchise by combined history and geographic reach
• Multistate branch network plus Hawaii via Territorial Savings division
• Commercial, CRE, SBA, and trade-finance orientation for immigrant-owned businesses
• Seoul representative office heritage for Korea-facing commercial relationships

Footprint

Headquartered in Koreatown, Los Angeles. Operates across roughly a dozen U.S. states historically including California, Washington, Texas, Illinois, New York, New Jersey, Virginia, Georgia, and others, plus Hawaii through Territorial Savings. Not digital-only.

Services

• Consumer banking
• Small business
• Commercial / middle market
• SBA lending
• Mortgages
• Trade finance
• International wires

Full consumer and business banking with emphasis on SME commercial lending, CRE, SBA, and international trade services for multicultural clients.

Best for

• Korea corridor households
• Immigrant-owned small business
• Cross-border and trade complexity
• Hands-on branch banking
• Upwardly mobile professionals

Best fit when you want Korean American institutional scale - more states and product breadth than a single community bank - without leaving the multicultural relationship model. Strong for Korean immigrant and Korean American owners who need CRE/SBA/trade support and may have Korea commercial ties. Also relevant for Hawaii households banking with the Territorial Savings division after the 2025 combination.

Less ideal for: People who only want a megabank digital app and never need Korean American commercial relationships, or ultra-HNW clients seeking a global private bank brand.

Compelling offers

Checked against bank pages as of July 28, 2026. Bonuses, fee waivers, and rate specials change often. Confirm eligibility and end dates on the bank’s site before you plan around them.

• College Banking: $125 cash bonus

  Eligible students (typically ages 17–24 in College Banking) who open Bank Simply Checking and complete 10 or more debit purchases in the first 60 days can earn a $125 cash bonus credited after the qualification window.

  Limit one bonus per customer. Account must stay open and in good standing until payout. Bonus may be reported on Form 1099-INT.

  Bank of Hope College Banking →

• Online Hope Preferred CD: up to 4.10% APY (18 months)

  Hope Preferred CDs opened online list an 18-month APY of 4.10% (as of June 16, 2026) with a $1,000 minimum opening deposit. A rate special for households parking cash they will not need early.

  APY varies by term and balance tier. Early withdrawal penalties apply. Rates change; confirm the live table before funding.

  Bank of Hope online Preferred CD →

Next steps

• Immigrant-Owned Small Business Financing Basics

  Ownership maps, SBA and bank eligibility, personal guarantees, and backup capital for diaspora restaurants, agencies, clinics, and digital businesses when federal rules and family co-signing overlap.

• Send Money to Korea From the U.S.

  How the U.S.–Korea remittance corridor works, common delivery paths, licensed provider types, and planning questions before you send to family in South Korea.

• Plan Korea Remittances in Your U.S. Household Budget

  Cap sends to South Korea, separate holiday spikes from monthly support, and protect U.S. retirement when parents at home and abroad both need you.

• Family Support Budget Calculator

  Map parent support, remittances, and sibling help against housing, debt, emergency savings, and retirement so family obligations stay visible in your monthly plan.

• Remittance Quote Worksheet

  Copy two provider disclosures side by side to compare total paid, amount delivered, effective exchange rate, funding method, and delivery time.

• Household dashboard

  Track family support beside U.S. bills and savings once the account is open.

• All planners

  Send corridors and inheritance scenarios when banking is only one piece of the file.

Related bank profiles

• Hanmi Bank — The first Korean American bank in the U.S., still oriented to immigrant and multi-ethnic small-business communities in Koreatown and other Asian American MSAs.
• Shinhan Bank America — A Korea-parent FDIC bank for Korean American households and small businesses. Smaller than Hope or Hanmi, with bilingual branches in NY/NJ, California, Georgia, and Texas.
• Metro City Bank — Atlanta’s flagship Korean American commercial bank. About $4.5B after buying crosstown rival First IC, with Southeast weight, SBA/USDA desks, and a thinner California toehold.
• East West Bank — The largest Asian American–owned bank by scale, built as a U.S.–Asia bridge for Chinese American communities and cross-border commercial clients.
• Cathay Bank — The oldest operating U.S. bank founded by Chinese Americans. Chinatown roots, multistate branches, and Pacific Rim offices for Greater China households and businesses.
• Woori America Bank — A Korea-parent FDIC bank (~$4B) for Korean American households and small businesses. Woori Bank name recognition, published Korea wire fees, and bilingual branches from Flushing to LA Koreatown corridors.
• Chase — The national megabank first-gen story: payroll and ATMs almost everywhere, ITIN-friendly branch openings, Secure Banking as a no-overdraft starter, then wires and home lending as income stabilizes.
• Bank of America — The other national first-gen stack: published visa/ITIN opening guidance, SafeBalance as a no-overdraft starter that still wires, Advantage Plus for payroll, and Merrill Rewards as income rises.
• PCB Bank — A Koreatown-rooted Korean American commercial bank (~$3.5B) with branches across Southern California, Bayside, New Jersey, DFW, and Suwanee, plus SBA and trade-finance desks.

Related send corridors

• Send money to South Korea from the U.S.