Mergers and Acquisitions (Tables)

3 Months Ended

Mar. 31, 2017

Consideration Paid, Assets Acquired and Liabilities Assumed

The consideration paid, the assets acquired, and the liabilities assumed are summarized in the following table:



	(Dollars in thousands)
Consideration Paid:
Hope common stock issued in exchange for Wilshire common stock	$	852,939
Cash paid for fractional shares	3
Hope stock options issued in exchange Wilshire stock options	3,370
Total consideration paid	$	856,312

Assets Acquired:
Cash and cash equivalents	$	100,127
Investment securities available for sale	478,938
Loans receivable	3,800,807
FRB and FHLB stock	16,539
OREO	13,173
Premises and equipment	16,812
Bank owned life insurance	25,240
Servicing assets	16,203
Low income housing tax credit investments	47,111
Core deposit intangibles	18,138
Deferred tax assets, net	18,174
Other assets	76,818
Liabilities Assumed:
Deposits	(3,812,367		)
Borrowings	(206,282		)
Subordinated debentures	(56,942		)
Other liabilities	(54,751		)
Total identifiable net assets	$	497,738
Excess of consideration paid over fair value of net assets acquired (goodwill)	$	358,574

Acquisition Related Expenses

The following table presents acquisition-related expenses associated with the merger with Wilshire, the pending acquisition of U & I, and other previous acquisitions which were reflected in the Consolidated Statements of Income in merger and integration expense. These expenses are comprised primarily of salaries and employee benefits, professional fees, and other noninterest expense related to acquisitions.



	Three Months Ended March 31,
	2017		2016
	(Dollars in thousands)
Wilshire	$	401	$	1,183
U & I	522		—
Other	24		24
Total merger and integration expenses	$	947	$	1,207