On April 29, 2024, Territorial Bancorp Inc., Honolulu, Hawaii, announced the signing of a merger agreement with Hope Bancorp, Inc., Los Angeles, California, pursuant to which Territorial Bancorp will merge with and into Hope Bancorp in an all-stock transaction valued at approximately $79 million.

Territorial Bancorp is the holding company for Territorial Savings Bank and has approximately $2.2 billion in assets.

Hope Bancorp is the holding company for Bank of Hope and has approximately $18.1 billion in assets.

Luse Gorman is serving as legal counsel to Territorial Bancorp in the transaction. The Luse Gorman team consists of Larry Spaccasi, Ned Quint, Thomas Hutton, Kent Krudys and Brendan Saxon.

Luse Gorman has acted as counsel on more than 100 bank M&A transactions during the past seven years and more bank M&A transactions than any other law firm in the nation over the past 20 years. To learn more about our mergers and acquisitions practice, please visit our website.