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Bank of Hope (Los Angeles, CA)


Overview / Commentary
www.bankofhope.com
213-639-1700
3731 Wilshire Boulevard, Suite 1000
Los Angeles, CA 90010

Bank of Hope (Los Angeles, CA) is headquartered in Los Angeles and is the 13th largest bank in the state of California. It is also the 105th largest bank in the nation. It was established in 1986 and as of June of 2020, it had grown to 1,475 employees at 61 locations. Bank of Hope (Los Angeles, CA) has an A+ health rating.

Related Posts

Bank Of Hope Savings APY Slashed By >50% - 5/31/2020

Ken hasn't even written about this bank yet, but there's no longer any need to. Today it slashed its savings acct rate from 1.65% to 0.80%. The highest non-promotional savings account rate with no special requirements is now 1.61%, with Nationwide. That's definitely going to drop very soon though, since Nationwide's banking product is through Axos Bank, as is UFB Direct's, and UFB just dropped to 1.51%. I predict that by 7/1, the highest non-promotional savings acct rate available, with no special requirements, will be 1.50%.

Bank Of Hope MM 1.70% APY, $1,000 Min To Earn Stated APY - 4/9/2020

Bank of Hope MM 1.70% APY, $1,000 Min Balance: $0.01-$999.99 earns 0.10% APY, & $1,000.00 and above earns 1.70% APY. The Annual Percentage Yield (APY) is accurate as of 03/27/2020. IMPORTANT INFORMATION To qualify for this offer, you must: (1) Be a new customer who currently does not have a deposit account with Bank of Hope; AND (2) Open an account with new money. New money is defined as funds not currently on deposit with Bank of Hope. The account must be funded within 10 calendar days from the account opening date. This offer is not available to residents of AL, CA, IL, NJ, NY, TX, VA, WA. https://apply.bankofhope.com/MM/?utm_source=bankrate&utm_medium=cpc&utm_campaign=DAO

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Reviews (2)

Center Bank, Los Angeles Koreatown

Posted by: |

Center Bank is one of the several Korean banks in Los Angeles. It has several branches, around 25 in all, but the main one is on Wilshire Boulevard in the heart of Koreatown. Most are in Southern California, some in Northern California, but also in Chicago and Seattle. 

Two or three different times over the past few years, I have had a CD with them. They are definitely one to watch for good specials to come out  -- although none at the moment. I also note, they have been willing to -- and aggressive in -- negotiating CD rates in the past, but of course, the conditions at the time will dictate that. 

I also note, they pay simple interest, so the annual percentage rate is the same as the annual percentage yield; there is no compounding. That also means there is nearly no advantage to leaving your interest in the CD, you might as well have it sent out monthly and put it in another interest-bearing account so you earn even more.

I found it pleasant to deal with them. However, don't forget there is a serious language difference -- unless you happen to speak Korean -- so be very precise in what you say, speak slowly, and repeat what they say very precisely to your understanding -- or you might find some communication misunderstandings. 

Most operations are the same as most American banks -- but not necessarily all the little details, so make sure you go over anything pertinent to you. 

The account clerks -- well, all that I saw in multiple branches were woman; I wonder if that is intentional or just coincidental. But they are very Korean, import models, and dress accordingly -- somewhat more professionally dressed than Americans, and cute, as is common in many Asian cultures -- and act accordingly -- somewhat more submissive personalities even as they may be being aggressive. The managers, though -- they are just tougher, although polite. They don't necessarily understand all the many details of common American banking or financial interests, but they are familiar with most. (I had most difficulty dealing with adding a Power of Attorney to my accounts -- I often have some trouble with that, but at Center Bank the trouble seems to be a lack of complete understanding of American legalities, as in the difference between an account holder and a power of attorney.) 

They also surprised with with a little gift last time I opened an account with them, a choice of a very small physical size -- little more than the size of a chicklet gum -- 2 GB flash drive or something else; I chose the flash drive.

Also, during my time there, they even e-mailed out looking for any input, how they might do even better. I take that as a good sign. And their online banking was clear and easy.

I had no trouble with any transactions with Center Bank. They were prompt, courteous and helpful. 

I would be happy to do business with them again -- if they should bring their rates back up again. 

6

Poor Service And Fraud Protection

Posted by: |

The only thing I can say is they have reasonable fees for services but you get what you pay for. Please do not put your money here.

Twice I had my account security breached. (I should of learned after the first time). But have since closed my account .
Neither time that I had money stolen from my account was I reimbursed.

In the locations I frequented the sole ATM's would be out of order for days at a time. It is not that the customer service people are rude it is they are not really interested in being helpful or try to be in any way proactive with assistance. To get them to do anything is almost like pulling teeth.


Stay away!!

6


Health
A+

Data as of Q2 2020

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #26610
Year Established1986
Employees1475
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.74%
Return on Equity - YTD5.21%
Annual Interest Income$312.4MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$17.17B$15.34B
LoansQ2 2020vs Q2 2019$12.72B$11.89B
DepositsQ2 2020vs Q2 2019$14.14B$12.19B
Equity CapitalQ2 2020vs Q2 2019$2.31B$2.27B
Loan Loss AllowanceQ2 2020vs Q2 2019$161.8MM$94.1MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$64.7MM$71.0MM
Real Estate OwnedQ2 2020vs Q2 2019$21.0MM$5.6MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Bank of Hope (Los Angeles, CA); we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Bank of Hope (Los Angeles, CA) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.01%†$1k$100k36 Month Installment Savings Account
0.75%†$1k$100k24 Month Installment Savings Account
0.60%†$1k$100k12 Month Installment Savings Account
0.05%*†$100k*-Personal Savings Account
OTHER TIERS: 0.01% → Up to $100k

Bank of Hope (Los Angeles, CA) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%*†$500k*-Money Market Account
OTHER TIERS: 0.01% → Up to $100k | 0.05% → $100k - $250k | 0.10% → $250k - $500k
0.15%*†$500k*-Business Money Market Account
OTHER TIERS: 0.01% → Up to $100k | 0.05% → $100k - $250k | 0.10% → $250k - $500k
0.15%*†$250k*-Prestige Money Market
OTHER TIERS: 0.01% → Up to $50k | 0.05% → $50k - $100k | 0.10% → $100k - $250k
0.15%*†$250k*-Business Prestige Money Market
OTHER TIERS: 0.01% → Up to $50k | 0.05% → $50k - $100k | 0.10% → $100k - $250k

Bank of Hope (Los Angeles, CA) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%*†$100k*-Interest Checking Account
OTHER TIERS: 0.01% → Up to $100k
0.05%*†$100k*-Business Interest Checking Account
OTHER TIERS: 0.01% → Up to $100k
0.01%†--Personal Reserve (Checking) Account

Bank of Hope (Los Angeles, CA) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%*†$90k*$500k4 Year CD
OTHER TIERS: 0.30% → $1k - $50k | 0.35% → $50k+
0.40%*†$90k*$500k5 Year CD
OTHER TIERS: 0.30% → $1k - $50k | 0.35% → $50k+
0.40%*†$90k*$500kBusiness 4 Year CD
OTHER TIERS: 0.30% → $1k - $50k | 0.35% → $50k+
0.40%*†$90k*$500kBusiness 5 Year CD
OTHER TIERS: 0.30% → $1k - $50k | 0.35% → $50k+
0.35%*†$90k*$500kBusiness 12 Month CD
OTHER TIERS: 0.25% → $1k - $50k | 0.30% → $50k+
0.35%*†$90k*$500k18 Month CD
OTHER TIERS: 0.25% → $1k - $50k | 0.30% → $50k+
0.35%*†$90k*$500kBusiness 2 Year CD
OTHER TIERS: 0.25% → $1k - $50k | 0.30% → $50k+
0.35%*†$90k*$500k3 Year CD
OTHER TIERS: 0.25% → $1k - $50k | 0.30% → $50k+
0.35%*†$90k*$500k12 Month CD
OTHER TIERS: 0.25% → $1k - $50k | 0.30% → $50k+
0.35%*†$90k*$500kBusiness 18 Month CD
OTHER TIERS: 0.25% → $1k - $50k | 0.30% → $50k+
0.35%*†$90k*$500k2 Year CD
OTHER TIERS: 0.25% → $1k - $50k | 0.30% → $50k+
0.35%*†$90k*$500kBusiness 3 Year CD
OTHER TIERS: 0.25% → $1k - $50k | 0.30% → $50k+
0.25%*†$90k*$500k3 Month CD
OTHER TIERS: 0.15% → $1k - $50k | 0.20% → $50k+
0.25%*†$90k*$500k6 Month CD
OTHER TIERS: 0.15% → $1k - $50k | 0.20% → $50k+
0.25%*†$90k*$500kBusiness 3 Month CD
OTHER TIERS: 0.15% → $1k - $50k | 0.20% → $50k+
0.25%*†$90k*$500kBusiness 6 Month CD
OTHER TIERS: 0.15% → $1k - $50k | 0.20% → $50k+
0.20%†$5k$250k12 Month Flex CD
0.20%†$5k$250k18 Month Flex CD
0.15%*†$90k*$500k1 Month CD
OTHER TIERS: 0.05% → $1k - $50k | 0.10% → $50k+
0.15%*†$90k*$500kBusiness 1 Month CD
OTHER TIERS: 0.05% → $1k - $50k | 0.10% → $50k+

Bank of Hope (Los Angeles, CA) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*†$90k*$500k12 Month IRA CD
OTHER TIERS: 0.25% → $1k - $50k | 0.30% → $50k+
0.35%*†$90k*$500k18 Month IRA CD
OTHER TIERS: 0.25% → $1k - $50k | 0.30% → $50k+
Locations

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