Hope Bancorp (HOPE) 2026财年第三季度业绩电话会：营收增长与MANUBANK展望

核心要点

• Hope Bancorp公布2026年第三季度营收为1.57亿美元，环比增长7%，同比增长11%，贷款增长、净息差扩大以及非利息收入增加推动了积极的营业杠杆作用。
• 稀释后每股收益为0.28美元，而2026年第二季度为0.26美元，2025年第三季度为0.24美元。扣除并购相关费用后，稀释后每股收益为0.29美元。
• 净息差增至3.02%，环比上升6个基点，同比上升13个基点，反映出生息资产收益率提高以及资金结构改善。
• 资产质量有所改善。不良资产降至1.08亿美元，不良资产率降至0.57%，年化净冲销额降至平均贷款额的0.19%。
• Hope Bancorp于10月1日完成了对三井住友银行（SMBC）旗下MANUBANK商业银行业务的收购，在收购会计调整前增加了约22亿美元的贷款和26亿美元的存款。
• 管理层预计，包含MANUBANK并在扣除上述贷款出售后，2026年期末贷款同比增长率约为15%。剔除显著项目后，预计全年营收增长约为16%至18%，拨备前净营收增长为23%至25%。

核心财务数据

业务与经营业绩

工商业贷款和住宅抵押贷款推动了第三季度的贷款增长。管理层表示，银行继续保持选择性策略，优先考虑风险调整后收益、资产组合多元化以及恰当的资金来源。

存款结构持续优化。活期及无固定期限存款环比增长6%，而定期存款下降5%。截至9月30日，定期存款占总存款的37%，低于一年前的40%。这一转变有助于降低整体存款成本。

非利息收入受益于客户相关手续费增加、小企业管理局（SBA）贷款出售收益，以及其他贷款出售带来的300万美元净收益。Hope Bancorp在本季度出售了7200万美元的SBA贷款，而第二季度为6800万美元。

信贷指标保持稳定或有所改善。关注类贷款为3.35亿美元，环比基本持平，同比下降10%。净冲销额为700万美元，占平均贷款额的年化比例为19个基点，而第二季度为24个基点。

MANUBANK收购案

收购的贷款组合包括约13亿美元的房地产贷款和9亿美元的商业贷款。扣除随后出售的收购SBA贷款后，在采购及其他会计调整前，该资产组合的加权平均票面利率为5.69%。

收购的存款包括6亿美元的无息活期存款、18亿美元的有息无固定期限存款和2亿美元的定期存款。在会计调整前，其加权平均成本为2.22%。

管理层表示，按形式计算，交易将使Hope Bancorp的存款成本降低5个基点，将定期存款占总存款的比率降至33%，并使贷存比达到约91%。

公司预计收购贷款的折价约为9000万美元。管理层表示，该折价的总摊销期约为五年，且前期占比较大，而相当于备抵的部分仍在最终确定中，约为3000万美元。

Hope Bancorp于10月21日以1.91亿美元出售了收购的MANUBANK SBA贷款组合，未确认任何损益。管理层还预计，完全到位后的成本节约将超过MANUBANK初始1.36亿美元年运营支出跑程率的40%。由于核心系统转换的时间安排，预计将在2028年全面实现。

管理层业绩指引

对于2026年全年，管理层给出了以下前景展望：

• 期末贷款额同比增长约15%，包含收购的MANUBANK余额并扣除上述贷款出售。
• 剔除显著项目后，营收增长约为16%至18%。
• 剔除显著项目后，拨备前净营收增长约为23%至25%。

该展望包含Hope银行今年以来的内生业绩以及MANUBANK在第四季度的贡献。管理层计划在公布第四季度财报时提供详细的2027年指引。

风险与关注事项

美国长期国债收益率走高使第三季度累积其他综合收益减少了5900万美元，并将有形普通股股权比率拉低了31个基点。管理层还预计MANUBANK交易将使核心一级资本充足率（CET1）比9月30日的水平下降约200个基点。

管理层指出，自宣布该交易以来，市场利率预期发生了重大变化，市场从预期降息转变为预计2027年将加息三次。未来的加息可能会提高贷款收益率，但管理层也预计随着每次额外加息，存款Beta系数将会上升。

MANUBANK成本节约的时间安排仍取决于核心系统转换进度以及外部核心系统供应商的到位情况。管理层预计会有一部分即时节约，随后进入一段较慢的时期，之后再迎来与系统转换挂钩的第二阶段。

分析师问答环节要点

• 利率敏感性：截至9月30日，Hope Bancorp贷款组合中48%为直接浮动利率贷款，另有27%为混合利率贷款。管理层表示，浮动利率占比高于先前周期，因为近期发放的贷款（特别是商业房地产贷款）更加注重浮动利率。
• 存款定价：针对最近一次加息，包含Territorial且不含定期存单的有息无固定期限存款Beta系数略低于24%。Territorial的可比Beta系数低于5%。
• 过剩流动性：MANUBANK增加了超过5亿美元的过剩流动性。管理层计划随着成本较高的资金到期来使用该资金，包括第四季度原本将按约4.4%重新定价的资金。
• 成本结构：管理层将MANUBANK相对较高的费用基数归因于其先前作为全球机构三井住友银行（SMBC）的一部分运营。Hope Bancorp预计随着整合推进将消除重复职能。
• SBA业务活动：管理层表示，内生SBA贷款发放量保持稳健，这与交割后出售的收购MANUBANK SBA贷款组合有所区别。

业绩电话会议完整文字记录

完整财报电话会议逐字稿

管理层陈述

Operator

Good day, and welcome to the Hope Bancorp Third Quarter 2026 Earnings Conference Call. [Operator Instructions] Please also note, today's event is being recorded.

I would now like to turn the conference over to Maxime Olivan, Investor Relations Manager. Please go ahead.

Maxime Olivan

Thank you, Roco. Good morning, everyone, and thank you for joining us for the Hope Bancorp Investor Conference Call for the third quarter of 2026. As usual, we will be using a slide presentation to accompany our discussion this morning, which is available on the Presentations page of our Investor Relations website.

Beginning on Slide 2. Let me start with a brief statement regarding forward-looking remarks. Today's call contains forward-looking statements and projections regarding the future financial performance of the company and future events. Forward-looking statements are not guarantees of future performance. Actual outcomes and results may differ materially. Hope Bancorp assumes no obligation to revise any forward-looking projections that may be made on today's call.

In addition, some of the information referenced during today's call includes non-GAAP financial measures. For a more detailed description of the risk factors and a reconciliation of GAAP to non-GAAP financial measures, please refer to the company's filings with the SEC as well as the safe harbor statements in our earnings press release.

Presenting from management today will be Kevin Kim, Hope Bancorp's Chairman, President and CEO; Julianna Balicka, Hope Bancorp Chief Financial Officer; and Peter Koh, Bank of Hope President and Chief Operating Officer, is also here with us as usual and will be available for the Q&A session.

With that, let me turn the call over to Kevin Kim. Kevin?

Kevin Kim

Thank you, Maxime. Good morning, everyone, and thank you for joining us today. Beginning with Slide 3, I will provide an overview of our third quarter results. Bancorp post positive earnings momentum in the first half of the year, continued in the third quarter, supported by revenue growth, positive operating leverage and stable asset quality, with continued improvements in key asset quality metrics.

Third quarter revenue growth was driven by loan growth, net interest margin expansion and increased noninterest income. And once again, revenue growth outpaced expense growth. As a result, we delivered strong sequential and year-over-year growth in pre-provision net revenue and after-tax net income.

Third quarter 2026 revenue totaled $157 million, an increase of 7% quarter-over-quarter and 11% year-over-year. Pre-provision net revenue increased to $55 million, up 11% from the prior quarter and up 21% from the prior year.

Reported diluted earnings for the third quarter were $0.28 per share, up 7% from $0.26 in the prior quarter and up 16% from $0.24 in the year ago quarter. Excluding notable items, which consisted of merger-related costs, diluted earnings for the third quarter were $0.29 per share, up from $0.27 sequentially and $0.25 a year ago.

Our balance sheet grew in the third quarter with gross loans of $15.1 billion and total deposits of $16.1 billion at September 30, 2026. Alongside that growth, our funding mix improved with growth in non-maturity deposits offsetting continued planned decreases in higher-cost time deposits. This shift helped lower our overall deposit cost.

The positive trends in our third quarter results are a sound foundation from which to enter a new chapter for Bank of Hope following the completion of our acquisition of SMBC Manu banks Commercial Banking unit on October 1, 2026. The transaction strengthens our commercial banking franchise, expands our presence in Southern California, and enhances our ability to serve Korean and Japanese businesses. Our partnership and collaboration agreement with SMBC also provides opportunities to develop relationships with multinational companies operating in the United States.

With the transaction closed, our focus is on serving our expanded customer base, integrating our teams and operations and building on the organic progress we have made over the past several quarters to strengthen our earnings. We are pleased to welcome our new colleagues to Bank of Hope and look forward to combining the strengths of our organization.

Turning to capital on Slide 4. Our regulatory capital ratios remained essentially stable quarter-over-quarter. At September 30, 2026, our common equity Tier 1 capital ratio was 12.25% and our total capital ratio was 13.92%. Higher long-term U.S. treasury yields in the third quarter had a negative impact on the fair value of securities available for sale and caused a decrease in accumulated comprehensive other income, which impacted our tangible common equity ratio by 31 basis points or $59 million quarter-over-quarter. Following the MANUBANK acquisition, we expect our common equity Tier 1 ratio to be approximately 10.2%, down about 200 basis points from September 30, 2026. The transaction optimizes our capital position, and we remain focused on prudent capital management.

Lastly, our Board of Directors has declared a quarterly common stock dividend of $0.14 per share, consistent with previous quarters and reflecting our continued commitment to returning capital to stockholders.

Continuing to Slide 5. Gross loans totaled $15.1 billion at September 30, 2026, up 1% quarter-over-quarter and up 3% year-over-year. Third quarter loan growth was primarily driven by commercial and industrial lending and residential mortgage loans. We remain selective in our approach to loan growth, focusing on opportunities that meet our risk-adjusted return expectations and support a diversified portfolio, while ensuring that new lending is backed by optimal funding sources.

On the deposit side, total deposits were $16.1 billion at September 30, 2026, up 1.5% quarter-over-quarter and up 2% year-over-year.

Quarter-over-quarter, nonmaturity deposits increased 6% and time deposits decreased 5%, reflecting our continued efforts to strengthen our funding mix by reducing the share of time deposits. As of September 30, 2026, time deposits were 37% of our total deposits compared with 40% a year ago. This shift, away from time deposits, has continued to help lower our overall cost of funds.

Quarter-over-quarter, on an average basis, noninterest-bearing demand deposits grew 4%. Money market, interest-bearing demand and savings deposits increased 5% in aggregate and time deposits decreased 3%.

With that, I will turn the call over to Julianna to review our financial performance for the third quarter in more detail. Julianna?

Julianna Balicka

Thank you, Kevin, and good morning, everyone. Beginning on Slide 6. Our net interest income totaled $135 million for the third quarter of 2026, up $6 million or 5% from the prior quarter and up $9 million or 7% from the year ago quarter. The sequential increase reflected average earning asset growth, higher volumes and lower deposit costs.

Average loans grew 1% from the prior quarter, equivalent to 5% anyway. Our net interest margin has continued to expand. Third quarter 2026 net interest margin was 3.02%, up 6 basis points from 2.96% in the prior quarter and up 13 basis points from 2.8% in the year ago quarter. The sequential quarter improvement reflected higher earning asset yields, including a 5 basis point increase in loan yields as well as a favorable shift in our funding mix.

On to Slide 7. We provide more detail on balance trends, yields and rates for our average loans and deposits. On to Slide 8. For the third quarter of 2026, noninterest income totaled $22 million, up $3 million or 17% from the prior quarter and up $7 million or 44% from the year ago quarter. Sequential quarter increase reflected growth in customer-related income and fees and higher SBA loan sale gains. In addition, we booked $3 million in net gains on sales of other loans, partially offset by a $1 million decrease in gains on sale of investment securities.

During the third quarter, we sold $72 million of SBA loans for a net gain of $47 million compared with $68 million sold for a net gain of $4.4 million in the second quarter.

Moving on to noninterest expense on Slide 9. Noninterest expense totaled $103 million in the third quarter of 2026, up $4 million or 4% and $99 million for the second quarter and up $6 million or from 6% or $97 million for the third quarter of 2025. Excluding merger-related notable items, noninterest expense in the third quarter was $100 million.

Our reported efficiency ratio improved to 65.3% and for the third quarter of 2026. Excluding notable items, our efficiency ratio grew to 63.6% for the third quarter of 2026, down from 65.2% in the second quarter and 67.6% for the year ago quarter. Our efficiency ratio improvement reflects incremental positive operating leverage achieved each quarter of the year.

Next on to Slide 10. Our asset quality metrics reflects [indiscernible] portfolio management and attention to sound credit fundamentals. Criticized loans totaled $335 million at September 30, 2026, essentially unchanged from the prior quarter and down $38 million or 10% from a year ago. The criticized loan ratio was 222 basis points at September 30 compared with 224 basis last quarter and 256 basis points a year ago.

Nonperforming assets declined both quarter-over-quarter and year-over-year to $108 million and the nonperforming asset ratio improved to 57 basis points of total assets at September 30, 2026.

Third quarter 2026 net charge-off was $7 million or an annualized 19 basis points of average loans compared to 24 basis annualized in the prior quarter. The third quarter provision for credit losses increased to $9 million compared with $7 million in the second quarter, primarily reflecting loan growth, partially offset by lower net charge-offs.

The allowance for credit losses totaled $154 million at September 30, 2026, with the allowance coverage ratio remained stable at 1.03% of loans receivable.

On Slide 11, I will provide an update on the financial aspects of the MANUBANK transaction. We will provide detailed guidance for 2027 with fourth quarter earnings, but there are a few items we want to walk through here regarding the MANUBANK equity -- the MANUBANK acquisition. From the transaction, we received approximately $307 million of cash from the net settlement and we did not pay a deposit fee. We also received $65 million of interest-bearing second plus the proceeds from the SBA loan sale that we executed in October.

As of the acquisition date, loans acquired from MANUBANK totaled approximately $2.2 billion before purchase and other accounting adjustments, consisting of $1.3 billion of real estate loans plus $0.9 billion of commercial loans. We estimate the discount on acquired loans to be approximately $90 million, comprising the interest rate mark, the accretable credit mark and the nonaccretable credit mark, which is equivalent to the allowance of credit losses -- for credit losses. The commercial portfolio included $0.2 billion of SBA loans purchased by MANUBANK in the secondary market. These loans would have had a relatively low effective yield for Hope after the acquisition. Therefore, on October 21, we sold the MANUBANK SBA loan portfolio for total proceeds of $191 million with no gain or loss recognized on the sale.

Excluding the SBA loans sold, the acquired loan portfolio had a weighted average coupon of 5.69% on at September 30 before purchase and other accounting adjustments.

Deposits acquired from MANUBANK totaled $2.6 billion before purchase and other accounting adjustments, consisting of $0.6 billion of noninterest-bearing demand deposits, $1.8 billion of interest-bearing nonmaturity deposits and $0.2 billion of time deposits. Pro forma with the MANUBANK deposits, the share of time deposits in our mix decreased to 33% compared with 37% at September 30, 2026. The acquired deposits had a weighted average cost of 2.22% at September 30, before purchase and other accounting adjustments.

Pro forma, the impact of the MANUBANK deposits would reduce our cost of deposits by 5 basis points. The deposits acquired from MANUBANK exceeded acquired loan balances, resulting in an estimated pro forma loan-to-deposit ratio of 91% and providing flexibility to optimize our overall funding profile.

Total loans at closing were below what they were at the deal announcement and customer deposits were largely stable. Combined with the SBA loan sale, this provides us additional flexibility to reduce maturing higher -- highest cost funding in the near term or to grow assets, which we plan on doing in the fourth quarter and throughout 2027. We believe this positions our balance sheet very well into a higher for longer interest rate environment and prioritizes profitability and profitable growth.

Market conditions and interest rate expectations have changed meaningfully and since announcement. We have gone from an interest rate environment that was forecasting 3 rate cuts through 2027 at the start of the year with a flat rate at deal announcement, and now the market projects 3 rate increases in 2027. So all that would need to be reflected in forward estimates.

Overall, the addition of the new deposit segment from MANUBANK, namely the Japanese banking division and specialty deposits enhances our funding base with which to support profitable loan growth in a range of operating environments. The acquired loan portfolio and the banking team to join us from MANUBANK strengthened our growth capabilities for next year and beyond.

In terms of cost savings, we expect fully phased-in cost savings of over 40% up of MANUBANK's starting operating expense run rate of $136 million. Overall, we expect cost savings to come in better than originally estimated and this will help offset some of the impact of the lower loan balances once fully phased in. Relative to original expectations, fully phased-in timing is later, and this is due to the scheduled timing of the core conversion.

With that, let me turn the call back to Kevin.

Kevin Kim

Thank you, Julianna. Moving on to the 2026 outlook on Slide 13. With the close of the MANUBANK acquisition and 2 months left in 2026, we updated our full year 2026 management outlook. Including the acquired MANUBANK balances and net of BSK loan sale, we expect end-of-period loan growth of approximately 15% year-over-year. Excluding notable items, we expect full year revenue growth in the range of approximately 16% to 18% and pre-provision net revenue growth in the range of approximately 23% to 25%, reflecting year-to-date organic trends from Bank of Hope plus the impact of MANUBANK for the fourth quarter.

Our third quarter results reflected the continued improvement in Bank of Hope fundamentals throughout 2026. With the MANUBANK transaction complete, we are well positioned to build on this momentum. With an active loan pipeline, we see opportunities to grow selectively while maintaining close credit oversight and prudent capital management. Our priority now is execution to build a more profitable and resilient Bank of Hope for a range of operating environments and to deliver long-term value for our stockholders.

With that, operator, please open up the call for questions.

Operator

[Operator Instructions] And today's first question comes from Matthew Clark at Piper Sandler.

分析师问答

Matthew Clark

Just putting the 2 banks together, thinking about the Fed potentially hiking here again, what's kind of a good -- I guess, what percentage of your loan book will truly float or benefit from the rate hikes?

Julianna Balicka

One second, we will give you that number in terms of the floating fixed mix.

Matthew Clark

Okay. And then just...

Julianna Balicka

Yes, go ahead.

Matthew Clark

Yes, maybe another one, Julian a lawyer looking through, you may know the number off the top of your head. But in terms of the purchase accounting accretion, the $90 million, I think there's a portion in there that is nonaccretable tied to the reserve. Just do you have the reserve amount so we can deduct that in the life of that $90 million.

Julianna Balicka

Yes. The life of that $90 million is pretty short, about 5 years overall, but there is a big portion of it, that's pretty short, like 2 years or so maybe. It's very front-weighted because it's on the variable rate loans on -- what we acquired. The -- and let me just get back to you on that. Okay. And then on the piece that is the ACL equivalent, is it's going to be -- we're still finalizing our estimate on that ACL portion, and it's probably going to be all, I'm going to say around $30 million.

Matthew Clark

Okay.

Julianna Balicka

And then back to the variable question. The variable rate loans, straight variable rate loans on our loan portfolio at September 30 were 48% and then we have a further 27% loans at our hybrid.

Matthew Clark

Okay. Okay. So the -- got it. Okay.

Julianna Balicka

I would actually add a remark, Matt, since you asked this question. For those that have been following Hope for a long time, this is a higher percentage than in past cycles because we have been focusing our originations for the last couple of years on variable rate loans. Particularly in CRE for those that have been following Hope for a long time, you may recall that CRE originations used to be largely fixed and/or hybrid. And for the last couple of years, they have been predominantly variable rate. So that is a shift into a new rising rate environment vis-a-vis past cycles.

All right. I'll turn the call back to the operator for the queue.

Operator

And our next question comes from Gary Tenner at D.A. Davidson.

Gary Tenner

Just following up on that comment, Julianna, on differences, kind of the balance sheet, this rate cycle versus past with adding territorial a couple of years ago and now with MANUBANK, do you talk about thoughts around deposit betas as we go over the next several months.

Julianna Balicka

Yes. So great question. I can share with you the beta that we've had thus far. So maybe a lot as a starting point. And for Bank of Hope, including territorial and excluding CDs, because as you know, those lag, our beta on our interest-bearing nonmaturity deposits from this most recent hike was a little under 24%. That's one of our best betas ever. And so -- and the beta at MANUBANK was similarly very low. Obviously, it's a balance between providing exception pricing to your most valuable customers and holding the line on -- across the board overall.

And when we think about betas for future hikes, obviously, we expect that the betas will accelerate with each incremental hike. But overall, I think that with the approach that we have taken to managing pricing over the last couple of years. And the addition of territorial to our mix and now the addition of MANU to our mix, I think, will position us well to continue to have a relatively better performance on beta.

Just for your context, the interest-bearing nonmaturity deposit beta at the territorial was only less than 5%, okay? So that's a nice benefit. So I think that overall will be a positive.

Also another thing that I would like to highlight on this beta question is the excess liquidity that we picked up with the MANUBANK transaction. That's important because when you think about the highest cost funding, some of which is wholesale market rate linked. That funding would reprice at 4.4% in the fourth quarter, and we no longer need to have to chase that kind of price, and that will help the beta overall through the cycle.

Gary Tenner

And then I just wanted to also ask on the kind of expense add from MANUBANK. Are there incremental cost saves out of the gate before the full cost saves are recognized later in 2027? It just feels like adding the kind of annualized expense to the fourth quarter run rate pushes the expense level quite a bit above where consensus is. And I just wanted to make sure that, that's the appropriate method to follow.

Julianna Balicka

I would say that the expense kind of curve is a barbell. Is that the right word? We have expense cost savings that we are realizing upfront this quarter. And then there'll be a period of time where there'll be less incremental realization. And then with the core conversion, there's going to be the next phase of cost savings.

Operator

Our next question today comes from Andrew Lease with Stonex Financial.

Unknown Analyst

Just sticking with the expense question here, looks like they're operating maybe over 5% of assets that are coming on. I guess, what's different from their operating model versus Hopes because even with the cost saves it'll be a little over 3% of assets, but your efficiencies outstanding closer to 2%. I guess what's different with what you're acquiring and legacy Hope?

Julianna Balicka

Let me phrase your question back to you. So you're asking why is there expense run rate higher relative to their asset base than ours?

Unknown Analyst

Yes. that expense number just took me by surprise for both what they're operating...

Julianna Balicka

Yes. No, understood. It's a good question. Thank you for asking that. I would say that the reason that their expense base starting out the gate relative to their assets is higher is -- I think a lot of it had to do with the fact that they were a subsidiary of a global institution, SMBC. And as you can imagine, regardless of the size of the subsidiary, you were held to the standard of the parent. And so there were a lot of costs embedded in the run rate and operations at MANUBANK itself that really reflected the fact that they were perceived to be part of a very large bank. And that is the difference between independent banks and the run rate of larger -- and what -- and so that -- and then when it comes to the ratio, as you're pointing out, they've got that higher expense burden, but they don't have the assets with which to spread it out. So the math ends up not working very well. And so in our case, we're able to absorb the MANUBANK operations, and we don't need to duplicate certain functions because we already have it. And our functions are sized to our balance sheet size.

Unknown Analyst

Got it. All right. That's helpful. But it sounds like the like the expense run rate is going to be a little bit higher here you mentioned to Gary's question, some cost saves right after that, but really, it's going to be 2028 that we'll see the full cost save number?

Julianna Balicka

That's fair. 2028 [indiscernible] cost saves. And as I mentioned in my remarks, that is related to timing of when the core conversion is scheduled for. We have hopes that we will be able to schedule it for earlier. But of course, core conversions are not just dependent on the banks doing the conversion, but also on the core providers. So at the end of the day, this is actually better for our book value because we avoid some excessive contract breakage fees that would otherwise impact the bottom line, even if there are notable items. So net-net, it's a good outcome.

Operator

And our next question comes from Kelly Motta at KBW.

Kelly Motta

I guess to kick it off, and you alluded to it in your prepared remarks, but what are the benefits of MANUBANK is it gives you a lot of liquidity and a lot of flexibility with how to profitably fund ahead. You have some borrowings. Just wondering kind of as this closes, if there's any incremental action here with kind of reducing higher cost borrowings close to day 1? And kind of with this level of liquidity, how you manage you get near term?

Julianna Balicka

Thank you, Kelly. Great question. My treasurer has already given me his wish list of highest cost funding that we can now reduce as it matures in the fourth quarter. So I would say a lot of that $0.5 billion plus of excess liquidity that we gained, we can find very good use for it to avoid, as I mentioned in my other Q&A, 4.4% funding.

Kelly Motta

Okay. Got it. That's helpful. And then in Q3, you had a really nice fees. Part of that, you had a -- you sold a portfolio of other loans. I'm hoping to get a bit more color on that as well as on SBA where we're hearing premiums have come in, although you guys got some nice gains. So just wondering kind of the outlook for that portion of the business.

Julianna Balicka

So let's answer the SBA question because in the FDA question, just for clarity, you're talking about our SBA originations from our team as opposed to what we purchased from MANUBANK that was directly related to purchase accounting marks and discounts on those loans. So our SBA originations are holding up well. And our SBA team is able to continue to generate great volume in SBA originations.

Operator

Thank you. That concludes our question-and-answer session. I'd like to turn the conference back over to the management team for any closing remarks.

Kevin Kim

Thank you. In closing , I want to extend my sincere appreciation to our colleagues for their dedication and the care that they bring to work every day. We are grateful for all they do for Bank of Hope and want me welcome our new MANUBANK colleagues to our team. Thank you all for joining us today and for your continued interest and support. We look forward to speaking with you again next quarter.

Operator

Thank you. That does conclude our conference call for today. We thank you all for attending today's presentation. You may now disconnect your lines, and have a wonderful day.