With its origins as Wilshire Bank, Bank of Hope has undergone significant changes, including a merger that expanded its reach, yet challenges remain formidable.
Despite its efforts to diversify lending beyond the Korean American community, the reliance on commercial real estate loans proved detrimental as the pandemic affected the market.
In an attempt to navigate financial strain, Bank of Hope's strategy hinges on mergers, yet questions loom over whether this will suffice to overcome existing challenges.
The pandemic posed unprecedented challenges for small and mid-sized banks like Bank of Hope, revealing the vulnerabilities linked to high exposure in commercial real estate.
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