DEF 14A of Hope Bancorp Inc, Apr 11, 2025

DEF 14A of Hope Bancorp Inc

Filed Apr 11, 2025 · FY20240001193125-25-078439

Open on EDGAR

  1. Director Nominees at the Annual Meeting

    Director Nominees at the Annual Meeting Our Board currently consists of 12 directors, 11 of whom are standing for re-election. Director William J. Lewis has made the decision not to stand for re-election at the expiration of his term. Mr. Lewis previously notified the Company that he will retire from the Board following the 2025 Annual Meeting. Each of the 11 individuals identified below are standing for re-election at the Annual Meeting. All director nominees have agreed to serve as directors of the Company, each for a one-year term until the 2026 annual meeting of stockholders, and until their successors are duly elected and qualified.

  2. Director Nominees at the Annual Meeting

    | Director Nominees | | Current Position | Age(1) | Independence | Principal Occupation | | | Kevin S. Kim | Chairman, President & Chief Executive Officer | 67 | | Banker | Attorney | Accountant | | | Dale S. Zuehls | Lead Independent Director | 74 | ✓ | Auditor | Consultant | Entrepreneur | | | Steven S. Koh | Honorary Chairman | 79 | | Entrepreneur | | | Donald D. Byun | Director | 73 | ✓ | Retired Entrepreneur | | | Jinho Doo | Director | 69 | ✓ | Retired Portfolio Manager | Financial Analyst | | | Daisy Y. Ha | Director | 50 | ✓ | Attorney | | | Joon Kyung Kim | Deputy Lead Independent Director | 66 | ✓ | Retired Auditor | | | Rachel H. Lee | Director | 40 | ✓ | Former Private Equity Partner | | | David P. Malone | Director | 74 | ✓ | Retired Banker | Accountant | | | Lisa K. Pai | Director | 65 | ✓ | Retired Banker | Attorney | | | Scott Yoon-Suk Whang | Director | 79 | ✓ | Retired Entrepreneur |

  3. Director Nominees at the Annual Meeting

    | (1) As of the Record Date. |

  4. Director Nominees at the Annual Meeting

    | | 3 | 2025 PROXY STATEMENT |

  5. Director Nominees at the Annual Meeting

    Of the 11 director nominees at the Annual Meeting, nine of the director nominees are independent as defined under SEC rules and the applicable Listing Rules of the Nasdaq Stock Market. The director nominees that are not determined to be independent are: our Chairman, President and Chief Executive Officer, Kevin S. Kim as he is a member of management; and our Honorary Chairman, Steven S. Koh as he is the father of our Chief Operating Officer, Peter J. Koh. We believe that the broad range of diverse skills, backgrounds and experience of our director nominees are integral to the effectiveness of the Board. For more information about our director nominees and their qualifications, please refer to page 13.

  6. 2024 Say-on-Pay Compensation Decisions

    | Base Salary | We approved base salary increases for all NEOs for fiscal 2024, with larger increases approved for Peter J. Koh and Kyu S. Kim of 11.4% and 7.2%, respectively. Our Chief Executive Officer Kevin S. Kim received a base salary increase of 4.8% and Julianna Balicka and Thomas P. Stenger received increases of 4.4% and 4.1%. respectively. See ‘‘2024 Executive Compensation Program in Detail – Base Salary” under Proposal 3. | | Short-Term Incentive Program (“STIP”) | Consistent with financial performance and strategic achievements of the Company, STIP awards to the NEOs were paid out below target. See “2024 Executive Compensation Program in Detail – Annual Incentive Awards” under Proposal 3. | | Long-Term Incentive Program (“LTIP”) | The 2024 LTIP awards granted to our NEOs are 50% time-vested Restricted Stock Units (“RSUs”) were 50% PSUs over three years. Consistent with the terms of the 2022 LTIP, the NEOs earned 70% of their target PSUs for the 2022 – 2024 performance cycle. See “2024 Executive Compensation Program in Detail – Long-Term Equity Incentive Awards” under Proposal 3. |

  7. Best Compensation Practices & Policies

    | ● | No automatic “single trigger” vesting upon a change of control; |

  8. Best Compensation Practices & Policies

    | ● | Independent compensation consultant retained and consulted, as needed; and |

  9. PROPOSAL 1: ELECTION OF DIRECTORS

    PROPOSAL 1: ELECTION OF DIRECTORS Our Board currently consists of 12 directors. As previously reported by the Company, Director William J. Lewis has elected not to stand for re-election at the Annual Meeting due to his impending retirement from the Board at the expiration of his term effective at the 2025 Annual Meeting. The remaining 11 incumbent directors have all elected to stand for re-election at the 2025 Annual Meeting. Mr. Lewis’ decision to retire from the Board was not the result of any disagreements with the Board or the Company on matters related to the Company’s operations, policies or practices. The Board would like to thank Mr. Lewis for his valuable contributions to the Company and the Board since his appointment in 2014.

  10. Nominees for Director at the Annual Meeting

    Nominees for Director at the Annual Meeting Our Board has nominated each of the 11 director nominees listed below, to serve as directors of the Company, each for a one-year term expiring at the 2026 annual meeting of stockholders, and until their successors are duly elected and qualified.

  11. Nominees for Director at the Annual Meeting

    | Director Nominee | Director Since | | Age(1) | Independent | Professional or Relevant Experience | | | Kevin S. Kim Chairman, President & CEO Director since 2011 | 67 | | Banker | Attorney | Accountant | | | Dale S. Zuehls Lead Independent Director Director since 2014 | 74 | ✓ | Auditor | Consultant | Entrepreneur | | | Steven S. Koh Honorary Chairman Director since 2016 | 79 | | Entrepreneur | | | Donald D. Byun Director since 2016 | 73 | ✓ | Retired Entrepreneur | | | Jinho Doo Director since 2014 | 69 | ✓ | Retired Portfolio Manager | Financial Analyst | | | Daisy Y. Ha Director since 2016 | 50 | ✓ | Attorney | | | Joon Kyung Kim Deputy Lead Independent Director Director since 2020 | 66 | ✓ | Retired Auditor | | | Rachel H. Lee Director since 2024 | 40 | ✓ | Former Private Equity Partner | | | David P. Malone Director since 2014 | 74 | ✓ | Retired Banker | Accountant | | | Lisa K. Pai Director since 2021 | 65 | ✓ | Retired Banker | Attorney | | | Scott Yoon-Suk Whang Director since 2007 | 79 | ✓ | Retired Entrepreneur |

  12. Nominees for Director at the Annual Meeting

    | (1) As of the Record Date. |

  13. Nominees for Director at the Annual Meeting

    | 2025 PROXY STATEMENT | 8 | |

  14. Nominees for Director at the Annual Meeting

    Each of the 11 director nominees named in this Proxy Statement has agreed to serve if elected and the Board has no reason to believe that any director nominee will become unavailable to serve as a director. The proxy holders named on the proxy card will vote all proxies for the election of the 11 director nominees listed above, unless authority to vote for the election of any of the director nominees is withheld. If any of the director nominees should become unable to serve as a director, the proxies solicited hereby may be voted for a substitute nominee designated by the Board. The 11 director nominees receiving the highest number of affirmative votes of the shares entitled to be voted at the Annual Meeting shall be elected as directors. Withheld votes and broker non-votes will have no effect on the election of director nominees. However, those failing to receive a majority of the votes cast for election are required to tender their resignation. See “Actions Required if Any Director Nominee Does Not Receive the Required Majority Vote” under General Information. We believe that each director nominee has the skills, experience and qualifications we seek in our directors, and that the combination of the director nominees standing for election will allow for an effective, engaged and well-functioning Board that serves both the Company and its stockholders.

  15. Stockholder Recommended Candidates

    | ● | whether such person has filed or intends to file with any bank regulatory bodies any notice, application or other filing concerning a change of control of the Company or any of its subsidiaries. |

  16. Overview of Director Nominee Qualifications and Experience

    Overview of Director Nominee Qualifications and Experience Our slate of director nominees consists of senior leaders with expertise in financial services, banking and regulatory compliance, and corporate governance. The chart below depicts an overview of the key industry experience and qualifications of our 11 director nominees. While taken into consideration by our Board in connection with the director nomination process, this chart does not encompass all of the qualifications and experience of our director nominees, who also have substantial experience in community relations, credit risk management, and board and committee leadership, among other skills. For more information about the qualifications and expertise considered by our Board for all director nominees, see “Director Nomination Process” under this Proposal 1.

  17. Director Nominee Biographies

    Director Nominee Biographies The section contains the biographical information of each of our 11 director nominees, all of whom have been nominated by the Board to stand for election at the Annual Meeting. The biographies below contain information about each of the director nominees, including their principal occupation, business experience and qualifications to serve on the Board. There are no arrangements or understandings by which any of the directors or nominees for director of the Company were selected. Other than Director Steven S. Koh, whose son, Peter J. Koh, currently serves as Chief Operating Officer of Bank of Hope, there are no family relationships between any of the directors, nominees or executive officers. None of our director nominees has been involved in any bankruptcy or criminal proceedings, nor have there been any judgments or injunctions brought against any of our director nominees during the last ten years that we consider material to the evaluation of the ability and integrity of any director.

  18. Director Nominee Biographies

    | | 13 | 2025 PROXY STATEMENT |

  19. Director Nominee Biographies

    For biographical information of our Chairman and Director Nominee, Kevin S. Kim, see page 38 for the Officer biography of Mr. Kim who also serves as President and Chief Executive Officer.

  20. Director Nominee Biographies

    | Dale S. Zuehls | | | Lead Independent Director & Director Nominee Age: 74 Committee Membership: Compensation Committee (Chair) Audit Committee Nomination Committee | Dale S. Zuehls was appointed to the Boards of Hope Bancorp, Inc. and Bank of Hope effective March 20, 2014. He was appointed as the Lead Independent Director effective May 23, 2024, after serving as the Deputy Lead Independent Director since February 1, 2024. Mr. Zuehls has more than 45 years of experience in areas of complex auditing, accounting, fraud and forensic accounting, complex tax issues, performance measurement and related consulting matters. Since 2002, his firm, Zuehls, Legaspi & Company, has provided specialized advisory services in the areas of auditing and tax, and fraud, forensic and litigation support. In addition to being a certified public accountant, Mr. Zuehls has a Ph.D. in accounting, holds a law degree and is a Certified Fraud Examiner. Previously, Mr. Zuehls held various leadership positions at KPMG and Arthur Andersen & Co., two of the largest international public accounting firms in the world. A recognized expert in complex accounting matters, Mr. Zuehls has taught in Ph.D. and Masters’ programs at several Southern California universities and has held numerous seminars on various accounting and tax issues. He serves on the Audit Committee of Cal State LA Foundation, the largest research foundation at California State University, Los Angeles. Mr. Zuehls earned his B.S. in Accounting at California State University, Los Angeles, and a J.D. from Southwestern University School of Law in Los Angeles. Director Nominee Qualifications and Expertise ● Audit, accounting and financial reporting ● Executive and incentive compensation and benefits ● Human capital management and succession planning | | Steven S. Koh | | | Honorary Chairman & Director Nominee Age: 79 Committee Membership: Board Risk Committee Executive Committee | Steven S. Koh was named Honorary Chairman of the Board on July 6, 2017, in recognition of his 30-plus years of service on the Board, including with the former Wilshire Bancorp and Wilshire Bank, of which he served as Chairman for 24 years. Upon the merger of equals between BBCN Bancorp, Inc. and Wilshire Bancorp, Inc., and their respective subsidiaries, BBCN Bank and Wilshire Bank, effective July 29, 2016, Mr. Koh was appointed Chairman of the Boards of Hope Bancorp, Inc. and Bank of Hope. Previously, he served as a director of Wilshire Bank since 1986 and as its Chairman since 1993, and as the Chairman of Wilshire Bancorp, Inc. the holding company of Wilshire Bank, which was formed in 1993. Mr. Koh is the Chairman of Pacific Steel Corporation, an international steel trading and nationwide distributing company that he founded in 1973. In addition to being well recognized for his contributions to the Korean-American banking industry in Los Angeles, Mr. Koh is highly regarded for his active involvement in community affairs, including the Overseas Korean Traders Association (OKTA) and numerous philanthropic activities for the Korean-American and surrounding ethnic communities. Mr. Koh is the first and only Korean American to serve on the board of directors of Cedars-Sinai, a major healthcare organization in Los Angeles to which he was appointed to in 2016. He received his B.A. and honorary Ph.D. from Yonsei University in Seoul, Korea. He also completed the Executive Management Program at the UCLA Anderson School of Management, the graduate business school at the University of California, Los Angeles. Director Nominee Qualifications and Expertise ● Finance, capital markets and M&A ● Financial services industry ● Strategic planning, business development and operations |

  21. Director Nominee Biographies

    | 2025 PROXY STATEMENT | 14 | |

  22. Director Nominee Biographies

    | Donald D. Byun | | | Director Nominee Age: 73 Committee Membership: Nomination Committee Executive Committee | Donald D. Byun has served as a director of Hope Bancorp, Inc. and Bank of Hope formerly known as BBCN Bancorp, Inc. and Wilshire Bancorp, Inc. and their respective subsidiaries BBCN Bank and Wilshire Bank effective July 29, 2016. Prior to that, he served on the board of directors of the former Wilshire Bancorp and Wilshire Bank from 2004 to 2007 and was re-appointed to the board in July 2009, and served through the merger with BBCN. Mr. Byun established Jay Dee, Inc., an apparel manufacturer, in 1993 and served as its President and Chief Executive Officer until his retirement in 2013. He is also the Founder of OTO Sportswear, where he served as its President and Chief Executive Officer from 1988 to 2010. From 2000 to 2004, Mr. Byun served as a director of Los Angeles-based Pacific Union Bank until its acquisition by Hanmi Bank in April 2004. Mr. Byun earned his B.A. in Economics from the College of Economics and Business Administration at Yonsei University in Seoul, Korea. Director Nominee Qualifications and Expertise ● Executive leadership and management roles ● Financial services industry ● Human capital management and succession planning | | Jinho Doo | | | Director Nominee Age: 69 Committee Membership: Audit Committee Nomination Committee Board Risk Committee | Jinho Doo has served as a director of Hope Bancorp, Inc. and Bank of Hope, formerly known as BBCN Bancorp, Inc. and BBCN Bank, since October 29, 2014. From 2012 to 2020, Mr. Doo was Chief Executive Officer of New York City-based Key Capital Management, LLC, where he managed a hedge fund. From 2007 to 2012, Mr. Doo was Chief Executive Officer of JSD Investment Advisory Services, LLC, based in Los Angeles, during which time he provided investment advisory services to Korean American community banks and foreign exchange consulting services to financial institutions. Previously, Mr. Doo was a Managing Director at DaeYu Investment Management Co, LTD, in Seoul, Korea and served as Director, Head of Korean Desk, Bonds Division at BZW Asia Hong Kong, an affiliate of Barclays Capital, in Hong Kong. Mr. Doo began his professional career in 1982 as a foreign exchange trader at Standard Chartered Bank, Seoul Branch. In 1988, he joined Los Angeles-based Hanmi Bank, from which he retired in 1996 as Vice President and Manager of the Investment and Accounting department. Mr. Doo earned his B.A. in Portuguese with a minor in Economics from Hankuk University of Foreign Studies in Seoul, Korea and his M.S. in Finance from Texas A&M University in College Station, Texas. Director Nominee Qualifications and Expertise ● Accounting, auditing and financial reporting ● Executive leadership and management roles ● Finance, capital markets and financial services |

  23. Director Nominee Biographies

    | | 15 | 2025 PROXY STATEMENT |

  24. Director Nominee Biographies

    | Daisy Y. Ha | | | Director Nominee Age: 50 Committee Membership: Audit Committee Compensation Committee | Daisy Y. Ha has served as a director of Hope Bancorp, Inc. and Bank of Hope since the merger of equals between BBCN Bancorp, Inc. and Wilshire Bancorp, Inc. and their respective subsidiaries BBCN Bank and Wilshire Bank effective July 29, 2016. Previously, she served on the board of directors of the former Wilshire Bancorp and Wilshire Bank from January 2014. Ms. Ha began her legal career as a term law clerk to a United States district court judge in 2000. The following year, she joined the employment law department of Paul Hastings, where she litigated and provided advice on matters of employment law. In 2004, Ms. Ha returned to the United States District Court as a career law clerk, assisting in a variety of areas, including general civil law and criminal law. In 2011, she was an appellate court attorney for the California Courts of Appeal. Ms. Ha received her B.A., cum laude, from Williams College in Williamstown, Massachusetts and her J.D. from University of California, Berkeley, School of Law. Director Nominee Qualifications and Expertise ● Corporate governance and ethics ● Executive and incentive compensation and benefits ● Human capital management and succession planning | | Joon Kyung Kim | | | Deputy Lead Independent Director & Director Nominee Age: 66 Committee Membership: Audit Committee (Chair) Nomination Committee Board Risk Committee | Joon Kyung Kim has served as a director of Hope Bancorp, Inc. and Bank of Hope since October 1, 2019 and was recently appointed to serve as the Board’s Deputy Lead Independent Director effective May 23, 2024. He is a Certified Public Accountant and retired from KPMG LLP on September 30, 2019, in accordance with the firm’s mandatory retirement policy, after having served as National Partner in Charge of KPMG’s Korean practice since 2005. Having joined the firm in 1983, Mr. Kim was promoted to a Partner in 1999 and led financial statement audits, operational reviews, credit risk management reviews, and performance improvement, regulatory and internal control advisements across a broad spectrum of industries, including banking, electronics, automotive, trading and distribution. He also performed strategic consulting projects for international corporations with an emphasis on preparing for disruptive technologies and a rapidly changing global environment. Previously, Mr. Kim served as a field examiner for the Department of Financial Protection and Innovation, formerly known as California State Department of Corporations, from 1981 to 1983. Mr. Kim also served on the board of directors of DZS, Inc. (NASDAQ: DZSI) since 2019 as a member of the Audit, Compensation, and Nominating and Corporate Governance Committees, until his resignation on March 14, 2025. Mr. Kim earned his B.S. degree in Business Administration from the Haas School of Business at the University of California, Berkeley. Director Nominee Qualifications and Expertise ● Accounting, auditing and financial reporting ● Banking and regulatory compliance ● Finance and capital markets |

  25. Director Nominee Biographies

    | 2025 PROXY STATEMENT | 16 | |

  26. Director Nominee Biographies

    | Rachel H. Lee | | | Director Nominee Age: 40 Committee Membership: Audit Committee Board Risk Committee | Rachel H. Lee was appointed to the Boards of Hope Bancorp, Inc. and Bank of Hope effective May 23, 2024. She has 17 years of finance and investment experience and over 10 years of board-related experience at growth-oriented companies, including publicly traded entities. Ms. Lee was appointed to the board of directors of Applied Digital Corporation (NASDAQ: APLD) in February 2024. She also serves on the board of directors of Legacy Franchise Concepts. Prior to that, she has served on the boards of various other companies, including Cooper’s Hawk Winery & Restaurants from 2019 to 2022, Floor and Decor Holdings, Inc. (NYSE: FND) from 2015 to 2021, and Insight Global from 2014 to 2016, among others. Ms. Lee is a former Partner and Head of the Consumer Private Equity practice at Ares Management Corporation (NYSE: ARES), which she departed in December 2022. At Ares, she was responsible for all aspects of deal activity from origination to monetization, including due diligence, debt capital raises, tack-on acquisitions, legal negotiations, and initial public offerings. Ms. Lee holds a B.S. in Business Administration and a B.S. in Accounting from the University of Southern California. Director Nominee Qualifications and Expertise ● Executive and incentive compensation and benefits ● Finance, capital markets and M&A ● Strategic planning, business development and operations | | David P. Malone | | | Director Nominee Age: 74 Committee Membership: Board Risk Committee (Chair) | David P. Malone has served as a director of Hope Bancorp, Inc. and Bank of Hope, formerly known as BBCN Bancorp, Inc. and BBCN Bank, since May 2014. From May 2017 until his retirement on December 31, 2021, Mr. Malone served in various employment and advisory roles at Bank of Hope, which included Chief Operating Officer, President and Advisor until March 31, 2022, then as Interim Chief Financial Officer and an advisor to Hope Bancorp, Inc. from January 6, 2023, to April 30, 2023. Prior to joining the Hope Bancorp Board, Mr. Malone held various executive management roles at Community Bank in Pasadena, including as its Chairman, President and Chief Executive Officer. During his 15 years at Community Bank, Mr. Malone was responsible for transforming the company into a relationship-oriented community bank, developing a high-performing sales culture, introducing new business lines, and expanding the bank’s geographical footprint. Under Mr. Malone’s leadership, Community Bank grew into one of the leading financial institutions in Southern California, with more than $3 billion in assets and 17 offices across five counties. Mr. Malone began his professional career as a certified public accountant with Arthur Andersen, where he later served as a Senior Manager, providing strategic and operational consulting services to financial institutions in the Western United States. Mr. Malone currently serves as Chairman of the advisory board of the David Nazarian College of Business and Economics, California State University, Northridge (CSUN) and is a member of CSUN’s foundation board. Mr. Malone earned his B.S. degree in Accounting from CSUN. Director Nominee Qualifications and Expertise ● Accounting, auditing and financial reporting ● Banking and regulatory compliance ● Credit review and management |

  27. Director Nominee Biographies

    | | 17 | 2025 PROXY STATEMENT |

  28. Director Nominee Biographies

    | Lisa K. Pai | | | Director Nominee Age: 65 Committee Membership: Board Risk Committee Executive Committee | Lisa K. Pai has served as a director of Hope Bancorp, Inc. and Bank of Hope since December 8, 2021. She brings 26 years of experience serving in general counsel and corporate secretary capacities at various Korean American banks in Los Angeles. Most recently, she served as Executive Vice President, General Counsel and Corporate Secretary of Hope Bancorp, Inc. and Bank of Hope from 2016 until her retirement in 2020. Previously, Ms. Pai served as Executive Vice President, Chief Legal & Human Resources Officer and Corporate Secretary of Wilshire Bancorp, Inc. and Wilshire Bank from 2012 to 2016. Prior to that, Ms. Pai served in similar capacities for BBCN Bancorp, Inc., Nara Bancorp, Inc. and Center Financial Corporation and their wholly owned subsidiaries. Before joining the banking industry, Ms. Pai practiced law at Thelen, Marrin, Johnson and Bridges from 1990 to 1994. Following her retirement from Bank of Hope, Ms. Pai served on the board of directors of First Choice Bank from April 2021 through July 2021. Ms. Pai has been an active member of the community throughout her professional career, having served in board and advisory roles for the Hope Scholarship Foundation, a charitable subsidiary of Bank of Hope, the Center for the Pacific Asian Family, a non-profit organization, Los Angeles County Bar Association, Korean American Bar Association of Southern California, and UCLA Asian Pacific Alumni Association. Ms. Pai earned her B.A. in Economics from the University of Chicago and her J.D. from University of California, Los Angeles, School of Law. Director Nominee Qualifications and Expertise ● Banking and regulatory compliance ● Corporate governance and ethics ● Executive leadership and management roles | | Scott Yoon-Suk Whang | | | Director Nominee Age: 79 Committee Membership: Nomination Committee (Chair) Compensation Committee Executive Committee | Scott Yoon-Suk Whang has been a director of the Hope Bancorp, Inc. and Bank of Hope since 2007 when he was appointed to the board of directors of the predecessor entities Nara Bancorp, Inc. and Nara Bank, and was integrally involved with the merger of equals between BBCN Bancorp, Inc. and Wilshire Bancorp, Inc. that ultimately created Hope Bancorp, Inc. He has served in various roles on the Hope Bancorp, Inc. Board, most recently as its Lead Independent Director from May 23, 2019, to May 23, 2024, and prior to that, as Chairman of the Board from 2017 to 2019. Since joining the Board, Mr. Whang has been a strong advocate committed to enhancing board leadership and governance. Mr. Whang is the founder and Chairman of Orange Circle Studios, which provides premier lines of gift product and calendar publishing services. He is a serial entrepreneur who has started three successful companies over the past 20 years, including Codra Enterprises, a commercial printing company, in 1985 and Avalanche Publishing, Inc. in 1990, in addition to Orange Circle Studios. Previously, Mr. Whang held various management positions with Daewoo Corporation, where he began his career in the early 1970s until 1985, at which time he served as President of the Western division of Daewoo International (USA). In 2006, Mr. Whang was chosen as entrepreneur of the year by the Korean American Chamber of Commerce in recognition of his success in the mainstream publishing industry and as an exemplary minority entrepreneur. Mr. Whang graduated from the College of Business Administration at Seoul National University with a B.A. in International Economics. Director Nominee Qualifications and Expertise ● Financial services industry and M&A ● Human capital management and succession planning ● Strategic planning, business development and operations |

  29. Director Nominee Biographies

    | 2025 PROXY STATEMENT | 18 | |

  30. Board Composition Considerations and Director Nominee Independence

    Board Composition Considerations and Director Nominee Independence The Listing Rules of the Nasdaq Stock Market require that a majority of the members of a listed company’s Board qualify as “independent”, as affirmatively determined by the Board. Our Board consults with our legal counsel to ensure that the Board’s determinations of independence are consistent with all relevant securities and other laws and regulations regarding the definition of “independent”, including those set forth in pertinent Listing Rules of the Nasdaq Stock Market, as in effect from time to time. Consistent with these considerations, after review of all relevant transactions or relationships between each director, or any of his or her family members, and the Company, the Company’s senior management and the Company’s independent registered accounting firm, the Board affirmatively has determined that all of our directors are independent within the meaning of the applicable Listing Rules of the Nasdaq Stock Market, other than Steven S. Koh (Honorary Chairman); and Kevin S. Kim (Chairman, President and Chief Executive Officer). In addition, with regards to the Audit Committee, the Board has also affirmatively determined that at least one or more members of the Audit Committee meet the definition of “financial expert” as defined by the SEC. While our Nomination Committee carefully considers diversity of professional disciplines and backgrounds when evaluating director candidates, our Board does not have a formal written diversity policy. When reviewing the qualifications of candidates to the Board, our Nomination Committee considers the following factors, among others:

  31. Board Composition Considerations and Director Nominee Independence

    | ● | personal and professional ethics and integrity, including prominence and reputation, and ability to enhance the reputation of the Company; |

  32. Board Composition Considerations and Director Nominee Independence

    | ● | the current composition of the Board, including size, diversity among the existing Board members, specific business experience and competence, including an assessment of whether the candidate has experience in, and possesses an understanding of, business issues applicable to the success of the banking industry; |

  33. Board Composition Considerations and Director Nominee Independence

    | ● | financial acumen, including whether the candidate, through education or experience, has an understanding of financial matters and the preparation and analysis of financial statements; |

  34. Board Composition Considerations and Director Nominee Independence

    | ● | professional accomplishments, ethical character, and reputation in the community; |

  35. Board Composition Considerations and Director Nominee Independence

    | ● | educational background; and |

  36. Board Composition Considerations and Director Nominee Independence

    | ● | whether the candidate has expressed a willingness to devote sufficient time to carrying out his or her duties and responsibilities effectively and is committed to service on the Board. |

  37. Board Composition Considerations and Director Nominee Independence

    As currently comprised, the members of our Board are drawn from various market sectors and industry groups with a presence in the Company’s niche markets, and collectively have a wealth of banking experience. Board members are individuals with knowledge and experience who serve and represent the communities in which we serve. Based on their professional acumen and experience, the current director nominees provide expertise in accounting, auditing, financial services, financial reporting, banking and regulatory compliance, corporate governance, executive and incentive compensation and benefits, executive leadership, finance and capital markets, human capital management and succession planning, M&A, strategic planning, business development and operations, among other skills and qualifications. The Nomination Committee believes that the backgrounds and qualifications of the director nominees, considered as a group, provide a significant composite mix of experience, knowledge and qualifications, as discussed above, which will allow the Board to effectively perform its duties. For specific information about the diversity of our director nominees, see “Overview of Director Nominee Qualifications and Experience” under this Proposal 1.

  38. Board Composition Considerations and Director Nominee Independence

    | | 21 | 2025 PROXY STATEMENT |

  39. Director Compensation

    Director Compensation The Company provides a mix of cash and equity compensation to its directors commensurate with their positions on the Board and committee assignments, which is intended to attract and retain qualified candidates to serve on our Board. The directors also receive reimbursement for expenses, including reasonable travel expenses to attend meetings, reasonable outside seminar expenses, and other Board service-related expenses. The Company’s compensation and benefits are designed to pay directors fairly for work required for an organization of the size and scope of the Company, align the directors’ interest with the long-term interests of stockholders, and provide compensation that is transparent and straightforward for stockholders to understand. In setting the compensation for directors, the Company considers the amount of time that directors expend in fulfilling their duties to the Company as well as the skill level and experience required by our Board. The Company also considers Board compensation practices at similarly situated banks, while keeping in mind the compensation philosophy of the Company and the stockholders’ interests.

  40. Director Compensation Program

    Director Compensation Program Each year the director compensation program is reviewed by the Nomination Committee. Upon review by the Nomination Committee in 2024, the recommendation was made to revise the director compensation program previously in place to provide compensation paid to non-employees in a manner that enables us to attract and retain outstanding director candidates and reflect the time commitment necessary to oversee the Company’s affairs. Per the recommendation of the Nomination Committee, the Board approved and adopted the revised director compensation program reflected below as of May 23, 2024. The current compensation paid to non-employee directors remains a mix of cash and equity-based compensation. All directors receive the annual retainer. The Board designated that the Lead Independent Director, Honorary Chairman, and Deputy Lead Independent Director each receive additional compensation for their service in these roles. Finally, additional compensation is paid to each of the Committee Chairs for their service in these Board assigned roles. The schedules below reflect the current and prior director compensation programs wherein the revisions made to the director compensation program as of May 23, 2024, are 1) implementation of an additional fee paid to the Deputy Lead Independent Director; and 2) an increase to the additional fee paid to those serving as a Committee Chair.

  41. Director Compensation Program

    | Current Schedule of Director Fees Effective May 23, 2024 | | | | | Description | Cash(1) | Equity(2) | Other Compensation(3) | | Director Annual Retainer | $54,000 | $54,000 | $15,000 | | Lead Independent Director and Honorary Chairman Annual Retainer | $28,800 | $28,800 | — | | Deputy Lead Independent Director Annual Retainer | $9,000 | $9,000 | — | | Committee Chair Annual Retainer | $9,000 | $9,000 | — |

  42. Director Compensation Program

    | (1) In general, cash compensation is paid in monthly installments. |

  43. Director Compensation Program

    | (2) The equity awards are in the form of RSUs, whose value is determined on the date of grant, which is typically the date of the respective annual meeting of stockholders. Such RSUs will vest on the one-year anniversary of the date of grant or, if earlier, at the occurrence of the next year’s annual meeting. |

  44. Director Compensation Program

    | (3) Other compensation is the annual cost of health insurance coverage, or cash in lieu thereof. |

  45. Director Compensation Program

    | | 29 | 2025 PROXY STATEMENT |

  46. Director Compensation Program

    The previous schedule of director fees from June 2020 to May 22, 2024, is reflected below.

  47. Director Compensation Program

    | (Previous) Schedule of Director Fees | | | | | Description | Cash(1) | Equity(2) | Other Compensation(3) | | Director Annual Retainer | $54,000 | $54,000 | $15,000 | | Lead Independent Director and Honorary Chairman Annual Retainer | $28,800 | $28,800 | — | | Committee Chair Annual Retainer | $7,200 | $7,200 | — |

  48. Director Compensation Program

    | (1) In general, cash compensation is paid in monthly installments. |

  49. Director Compensation Program

    | (2) The equity awards are in the form of RSUs, whose value is determined on the date of grant, which is typically the date of the respective annual meeting of stockholders. Such RSUs will vest on the one-year anniversary of the date of grant or, if earlier, at the occurrence of the next year’s annual meeting. |

  50. Director Compensation Program

    | (3) Other compensation is the annual cost of health insurance coverage, or cash in lieu thereof. |

  51. 2024 Director Compensation Summary

    2024 Director Compensation Summary The following table presents information concerning the compensation of our non-employee directors during the fiscal year ended December 31, 2024.

  52. 2024 Director Compensation Summary

    | Non-Employee Directors | Fees Earned or Paid in Cash(1) | Stock Awards(2) | Option Awards | Change in Pension Value and Nonqualified Deferred Compensation Earnings | All Other Compensation(3) | Total | | Dale S. Zuehls | $82,050 | $94,800 | — | — | $15,000 | $191,850 | | Steven S. Koh | $82,800 | $82,800 | — | — | $15,000 | $180,600 | | Donald D. Byun | $62,250 | $63,000 | — | — | $15,000 | $140,250 | | Jinho Doo | $54,000 | $54,000 | — | — | $15,000 | $123,000 | | Daisy Y. Ha | $54,000 | $54,000 | — | — | $15,000 | $123,000 | | Joon Kyung Kim | $67,500 | $72,000 | — | — | $15,000 | $154,500 | | Rachel H. Lee | $31,500 | $54,000 | — | — | $8,750 | $94,250 | | William J. Lewis | $57,000 | $54,000 | — | — | $15,000 | $126,000 | | David P. Malone | $62,250 | $63,000 | — | — | $15,000 | $140,250 | | Lisa K. Pai | $54,000 | $54,000 | — | — | $15,000 | $123,000 | | Scott Yoon-Suk Whang | $74,250 | $63,000 | — | — | $15,000 | $152,250 |

  53. 2024 Director Compensation Summary

    | (1) Amounts shown include fees for the (i) annual director retainer for membership on the Board; and (ii) annual retainer for serving as the chair of a committee. For Messrs. Whang and Zuehls, the amounts include partial annual retainer fees paid as the Lead Independent Director (for Mr. Whang from January 1, 2024 to May 23, 2024; and for Mr. Zuehls from May 23, 2024 to December 31, 2024). For Messrs. Zuehls and Kim, the amounts include partial annual retainer fees paid as the Deputy Lead Independent Director (for Mr. Zuehls from February 2, 2024 to May 23, 2024; and for Mr. Kim from May 23, 2024 to December 31, 2024). For Ms. Lee, the amount represents the partial annual retainer fee from the date of her appointment, May 23, 2024 to December 31, 2024. Finally, for Mr. Koh, the amount includes the annual retainer fee paid as the Honorary Chairman. |

  54. 2024 Director Compensation Summary

    | (2) The grant date fair value is based on the number of shares granted and the closing price of the Company’s stock on the grant date (which was July 3, 2024, for all RSUs listed). The closing price of the Company’s stock on July 3, 2024 was $10.51. The grant date fair values are computed in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic No. 718, Compensation-Stock Compensation. See the Company’s Annual Report on Form 10-K, Note 12 Stock Compensation Plans to the Company’s Consolidated Financial Statements for the year ended December 31, 2024 on the Company’s accounting for share-based compensation plans. The following table presents: (a) the aggregate number of restricted stock units (“RSUs”) granted to each current non-employee director during 2024, the grant date fair values of which are reflected in the table above; (b) the aggregate number of outstanding unvested RSUs held by the current non-employee directors at December 31, 2024; and (c) the aggregate number of outstanding options (both vested and unvested) held by the current non-employee directors at December 31, 2024. The unvested RSUs listed in the following table generally vest on the one-year anniversary of the grant date. |

  55. 2024 Director Compensation Summary

    | 2025 PROXY STATEMENT | 30 | |

  56. 2024 Director Compensation Summary

    | Awards Reflected in the Table Above | | Aggregate Awards Outstanding as of December 31, 2024 | | | Non-Employee Directors as of December 31, 2024 | RSUs Granted During the Year Ended December 31, 2024 | Aggregate Number of Unvested RSUs Outstanding | Aggregate Number of Vested and Unvested Options Outstanding | | Dale S. Zuehls(a) | 9,019 | 9,019 | 20,000 | | Steven S. Koh(b) | 7,878 | 7,878 | 36,167 | | Donald D. Byun(a) | 5,994 | 5,994 | 20,000 | | Jinho Doo(a) | 5,137 | 5,137 | 20,000 | | Daisy Y. Ha(c) | 5,137 | 5,137 | 24,404 | | Joon Kyung Kim | 6,850 | 6,850 | — | | Rachel H. Lee | 5,137 | 5,137 | — | | William J. Lewis(a) | 5,137 | 5,137 | 20,000 | | David P. Malone | 5,994 | 5,994 | 20,000 | | Lisa K. Pai | 5,137 | 5,137 | — | | Scott Yoon-Suk Whang(a) | 5,994 | 5,994 | 20,000 |

  57. 2024 Director Compensation Summary

    | (a) For Messrs. Zuehls, Byun, Doo, Lewis and Whang, the stock options are awards with an exercise price of $17.18 per share that were initially granted on September 1, 2016, in connection with the completion of the merger of equals between BBCN Bancorp and Wilshire Bancorp on July 29, 2016, and thereafter became fully vested on September 1, 2018, and will expire on September 1, 2026. |

  58. 2024 Director Compensation Summary

    | (b) For Mr. Koh, the stock options consist of (i) 6,167 stock options (exchanged from Wilshire Bancorp stock options to the Company’s stock options upon the completion of the July 29, 2016 merger) with an exercise price of $14.65 per share that were initially granted and fully vested on August 1, 2016, and will expire on August 25, 2025; and (ii) 30,000 stock options with an exercise price of $17.18 per share that were initially granted on September 1, 2016, which became fully vested on September 1, 2018, and will expire on September 1, 2026. |

  59. 2024 Director Compensation Summary

    | (c) For Ms. Ha, the stock options consist of (i) 4,404 stock options (exchanged from Wilshire Bancorp stock options to the Company’s stock options upon the completion of the July 29, 2016 merger) with an exercise price of $14.65 per share that were initially granted and fully vested on August 1, 2016, and will expire on August 25, 2025; and (ii) 20,000 stock options with an exercise price of $17.18 per share that were initially granted on September 1, 2016, which became fully vested on September 1, 2018, and will expire on September 1, 2026. |

  60. 2024 Director Compensation Summary

    | (3) Amounts include payments made to all directors for, or in lieu of, receiving health insurance coverage paid by the Company: $15,000, annually, but for Ms. Lee, the amount was prorated from the date of her appointment to the Board on May 23, 2024. |

  61. 2024 Director Compensation Summary

    | | 31 | 2025 PROXY STATEMENT |

  62. 2024 Say-on-Pay and Compensation Decisions

    | Base Salary | Base salary is an essential component to any market-competitive compensation program. We approved base salary increases for all NEOs for fiscal 2024, with larger increases approved for Peter J. Koh and Kyu S. Kim of 11.4% and 7.2%, respectively. Our CEO, Kevin S. Kim, received a base salary increase of 4.8% and Julianna Balicka and Thomas P. Stenger received increases of 4.4% and 4.1%. respectively. See ‘‘2024 Executive Compensation Program in Detail – Base Salary” under this Proposal 3. | | Short-Term Incentive Program (“STIP”) | Annual incentives reward the achievement of short-term goals. Consistent with financial performance and strategic achievements of the Company, STIP awards to the NEOs were paid out below target. See “2024 Executive Compensation Program in Detail – Annual Incentive Awards” under this Proposal 3. | | Long-Term Incentive Program (“LTIP”) | Long-term incentives drive our NEOs to focus on long-term sustainable stockholder value creation. The 2024 LTIP awards the Compensation Committee granted to our NEOs were 50% time-vested Restricted Stock Unites (“RSUs”) and 50% PSUs, each vesting over a three-year time frame. Consistent with the terms of the 2022 LTIP, the NEOs earned 70% of their target PSUs for the 2022-2024 performance cycle. See “2024 Executive Compensation Program in Detail – Long-Term Equity Incentive Awards” under this Proposal 3. |

  63. Best Compensation Practices & Policies

    | ● | No automatic “single trigger” vesting upon a change of control; |

  64. Best Compensation Practices & Policies

    | ● | Independent compensation consultant retained and consulted, as needed; and |

  65. Compensation Philosophy and Objectives

    | ● | annual cash incentives that are tied to our financial results, achievement of our yearly strategic goals and achievement of individual performance objectives; and |

  66. Compensation Philosophy and Objectives

    | ● | long-term equity incentive awards that encourage NEOs to focus their efforts on building stockholder value by meeting longer-term financial goals. |

  67. The Role of the Independent Compensation Consultant

    The Role of the Independent Compensation Consultant The Compensation Committee at times retains the services of independent consultants to assist with its consideration of the Company’s compensation policies, programs and practices. Pursuant to authority granted to it under its charter, the Compensation Committee continued its engagement with Pearl Meyer as its independent consultant for the fiscal year 2024. Pearl Meyer provides expertise on competitive pay practices and program design and serves as an objective third-party advisor in assessing the reasonableness of compensation levels and performance metrics, as needed. During 2023, Pearl Meyer assisted the Compensation Committee with assessing the competitiveness of our compensation arrangements with our NEOs and informed the Compensation Committee’s decisions related to 2024. The Compensation Committee used information regarding our compensation arrangements as a benchmarking reference to ascertain whether we have competitive compensation levels with other comparable institutions, in setting compensation target levels, in deciding whether to make any changes in base salary, annual cash incentive awards and long-term equity awards, among other matters. Pearl Meyer reports directly to the Compensation Committee. The Compensation Committee has conducted an independence assessment of Pearl Meyer in accordance with SEC rules and has determined that Pearl Meyer does not have any conflict of interest relating to the work it is performing for the Compensation Committee.

  68. The Role of the Independent Compensation Consultant

    | 2025 PROXY STATEMENT | 44 | |

  69. The Role of Peer Groups

    The Role of Peer Groups For purposes of setting compensation levels and further informing decision-making for fiscal 2024, the Compensation Committee established an updated compensation peer group in the fall of 2023. This compensation peer group was approved by the Compensation Committee based on an in-depth review by Pearl Meyer, which included an assessment of potential comparators including publicly traded commercial banks headquartered in the U.S., with similar size characteristics (assets and revenues within 0.5x to 2.0x of the Company’s assets and revenues) and business structure (e.g. loan mix and source of revenue). The following companies comprise the 2024 compensation peer group:

  70. The Role of Peer Groups

    | 2024 Compensation Peer Group | | | ● Ameris Bancorp ● Atlantic Union Bankshares Corporation ● Banner Corporation ● Cathay General Bancorp ● CVB Financial Corp. ● First Financial Bancorp. ● First Interstate BancSystem, Inc. ● Fulton Financial, Corporation ● Glacier Bancorp, Inc | ● Heartland Financial USA, Inc. ● Independent Bank Group, Inc. ● Independent Bank Corp. ● Pacific Premier Bancorp, Inc. ● Renasant Corporation ● Simmons First National Corporation ● United Community Banks, Inc. ● WesBanco, Inc. ● WSFS Financial Corporation |

  71. The Role of Peer Groups

    In addition to peer group comparative data, our Compensation Committee may consider other factors that it deems prudent when determining executive compensation. While comparisons can be useful in identifying general compensation trends and overall pay levels, the Compensation Committee recognizes that there may be meaningful differences between our Company and our peers. The Compensation Committee uses the comparison data as a general indicator of market trends in executive compensation but does not use it exclusively to set compensation levels. For example, the Compensation Committee also reviews other information, such as individual and Company performance, the position, responsibilities within the Company, and other factors to determine total executive compensation. With regards to measuring the relative performance metrics for the LTIP award granted in 2024, the Compensation Committee approved a performance peer group comprised of the companies in the KBW Nasdaq Regional Banking Index.

  72. Base Salary

    | ● | 11.4% for our Chief Operating Officer, Peter J. Koh, to improve his competitive pay positioning relative to the market based on his expanded role, and |

  73. Short Term Incentive Plan (“STIP”)

    Short Term Incentive Plan (“STIP”) Our annual performance-based incentive compensation program is designed to align the interests of our NEOs with those of our stockholders and provides for cash awards driven by criteria primarily tied to the Bank’s performance. To ensure stronger alignment between the Chief Executive Officer and NEO compensation programs, we implemented a weighted scorecard under the STIP for all NEOs starting in 2024 which places an emphasis on financial performance. The scorecard is 80% weighted based on achievement of pre-determined financial objectives and 20% weighted based on achievement of individual objectives. The Compensation Committee may use its discretion to increase or decrease the 20% portion based on individual objectives in light of considerations it deems relevant and appropriate. The target opportunity for all the NEOs is determined as a percent of base salary and corporate title (such as Senior Executive Vice President or Executive Vice President). The current targets are set forth in the table below, with threshold set at 50% of target and maximum at 150% of target, and performance in between threshold/target and maximum determined on a linear interpolation.

  74. Short Term Incentive Plan (“STIP”)

    | | Annual Target Incentive Opportunity (as a % of Salary) | Annual Target Incentive Opportunity ($) | | Kevin S. Kim | 100% | $1,100,000 | | Julianna Balicka | 40% | $188,000 | | Kyu S. Kim | 45% | $211,500 | | Peter Koh | 45% | $220,500 | | Thomas P. Stenger | 45% | $225,000 |

  75. 2024 Corporate Performance Metrics (80% of STIP)

    2024 Corporate Performance Metrics (80% of STIP) In March 2024, the Compensation Committee reviewed and approved the 2024 corporate performance metrics and weightings for the year, aligning them with our Board-approved financial plan. This plan reflected our growth strategies, historical performance, and key economic assumptions for our industry. To determine the 2024 performance metrics and target goals, the Compensation Committee first assessed the financial measures most relevant to driving the Company’s strategic and operational priorities. The Committee refined the incentive structure by removing overlapping metrics between the STIP and LTIP and selecting those that best reflect the Company’s desired performance outcomes. It also determined the appropriate weightings and performance targets for each metric to ensure a rigorous and balanced incentive framework. In finalizing the target goals, the Compensation Committee considered the broader macroeconomic landscape. At the beginning of 2024, expectations reflected a more conservative Federal Reserve policy, with multiple rate cuts anticipated amid inflation concerns. While economic forecasts projected continued growth, they also highlighted risks such as geopolitical tensions, energy supply disruptions, financial vulnerabilities, inflationary pressures and political gridlock. The Compensation Committee also reviewed proposed targets and reviewed a goal calibration with the assistance of Pearl Meyer. After this review, the Compensation Committee set targets for the selected metrics as described below; the calculation of the selected metrics is also described below. The selected STIP metrics were (1) earnings per share (“EPS”) excluding notable items; (2) pre-provision net revenue (excluding notable items) as a percentage of average assets (“PPNR ROAA”); (3) criticized loan ratio, 4 quarter-end average; (4) total loan growth; and (5) average deposit growth, excluding brokered deposits.

  76. 2024 Corporate Performance Metrics (80% of STIP)

    | 2025 PROXY STATEMENT | 46 | |

  77. 2024 Corporate Performance Metrics (80% of STIP)

    The STIP metrics targets were set by the Compensation Committee as follows:

  78. 2024 Corporate Performance Metrics (80% of STIP)

    | ● | EPS (excluding notable items) target at $1.00. The 2024 EPS target was lower than the $1.20, excluding notable items, that we earned per share in 2023. The year-over-year decrease in earnings primarily reflected lower net interest income, caused by continued net interest margin headwinds in a high interest rate environment as well as loan growth pressures. |

  79. 2024 Corporate Performance Metrics (80% of STIP)

    | ● | PPNR ROAA (excluding notable items) target at 0.98%. The 2024 PPNR ROAA target was lower than the 1.12% (excluding notable items) earned in 2023, in line with the decrease in earnings due to net interest income pressures. |

  80. 2024 Corporate Performance Metrics (80% of STIP)

    | ● | Criticized loan ratio (4 quarter-end average) target at 2.33%. The target was consistent with the Company’s criticized loan ratio of 2.33% at December 31, 2023. |

  81. 2024 Corporate Performance Metrics (80% of STIP)

    | ● | Total loan growth target at 3.0%. For context, total loans decreased by 10% year-over-year between December 31, 2023, and December 31, 2022. |

  82. 2024 Corporate Performance Metrics (80% of STIP)

    | ● | Average deposit change (excluding brokered deposits) target at -2.0%. The year-over-year targeted decrease in average deposits reflected the impact on average balances of deposit outflows in the first quarter of 2023, which reflected the impact of certain regional bank failures on the broader banking industry. For context, on an end-of-period basis, the Company anticipated that deposits (excluding brokered deposits) would grow 5% between December 31, 2024, and December 31, 2023. |

  83. 2024 Corporate Performance Metrics (80% of STIP)

    The following definitions and calculations were used to determine the achievement of the 2024 performance measures for the annual incentive awards issued in 2024. In addition, with regards to certain of the financial metrics listed below (earnings per share and pre-provision net revenue return on average assets), the actual results calculated excluded notable items, after tax, as outlined in “What Guides Our Executive Compensation Program — Reconciliation of GAAP to Non-GAAP Financial Measures” under this Proposal 3. Notable items vary year-to-year, depending on circumstances, and are disclosed through reconciliation tables of GAAP to Non-GAAP Financial Measures in the Company’s financial statements.

  84. 2024 Corporate Performance Metrics (80% of STIP)

    | ● | Earnings per share (excluding notable items), or EPS: net income, excluding notable items, divided by weighted average diluted common shares. In 2024, notable items consisted of an FDIC special assessment that was approved by the FDIC Board of Directors on November 2023, restructuring-related costs and merger-related costs (referred to as “notable items”). EPS (excluding notable items) is a non-GAAP financial measure; quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are set forth below and in Appendix A. |

  85. 2024 Corporate Performance Metrics (80% of STIP)

    | ● | Pre-Provision Net Revenue (excluding notable items) as a percentage of Average Assets (also referred to as pre-provision net revenue return on average assets, or PPNR ROAA): pre-provision net revenue (excluding notable items) divided by average assets. Pre-provision net revenue consists of net interest income plus noninterest income less noninterest expense. PPNR ROAA (excluding notable items) is a non-GAAP financial measure; quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are set forth below and in Appendix A. |

  86. 2024 Corporate Performance Metrics (80% of STIP)

    | ● | Criticized loan ratio (4 quarter-end average): measured as the average of the four quarter-end ratios. The ratio is calculated as total criticized loans divided by total loans. |

  87. 2024 Corporate Performance Metrics (80% of STIP)

    | ● | Total loan growth: the annual percentage growth in total loans, which consist of loans receivable and loans held-for-sale. |

  88. 2024 Corporate Performance Metrics (80% of STIP)

    | ● | Average deposit change (excluding brokered deposits): the annual percentage change in average total deposits, excluding brokered deposits. |

  89. 2024 Corporate Performance Metrics (80% of STIP)

    | | 47 | 2025 PROXY STATEMENT |

  90. 2024 Actual Results of Corporate Performance Measures

    2024 Actual Results of Corporate Performance Measures In early 2025, the Compensation Committee reviewed the Bank’s actual financial and regulatory performance relative to the approved goals to determine the annual incentive award payout for the NEOs. As summarized in the table below, the Company was below threshold for two metrics relating to financial performance, and between threshold and target for all other financial performance metrics. Total percent of achievement based on the corporate performance measures for 2024 was 40%. The actual target goals for the corporate performance metrics for 2024, the respective weightings and performance levels are set forth below. Performance levels are commensurate with actual 2024 results for the given metric.

  91. 2024 Actual Results of Corporate Performance Measures

    | Performance Measures | Weight | 2024 Performance Target Goals | | | Actual 2024 Results(1) | Performance Achieved as a % of Target | | | | Minimum | Target | Maximum | | | | Financial Performance | | | | | | | | Earnings Per Share (excluding notable items)(1) | 25% | $0.80 | $1.00 | $1.20 | $0.85 | 63% | | Pre Provision Net Revenue (excluding notable items) as a percentage of Average Assets(1) | 25% | 0.88% | 0.98% | 1.41% | 0.88% | 50% | | Criticized Loan Ratio (4 quarter-end average) | 20% | 2.66% | 2.33% | 2.06% | 3.35% | 0% | | Total Loan Growth | 15% | 0.00% | 3.00% | 6.00% | (1.62)% | 0% | | Average Deposit Change (excluding brokered deposits) | 15% | (4.00)% | (2.00)% | 3.00% | (2.58)% | 78% | | TOTAL | 100% | | | | | |

  92. 2024 Actual Results of Corporate Performance Measures

    | (1) EPS (excluding notable items) and PPNR ROAA (excluding notable items) are each non-GAAP financial measures. Quantitative reconciliations of the most directly comparable GAAP to non-GAAP financial measures are set forth in Appendix A. |

  93. 2024 Actual Results of Corporate Performance Measures

    | 2025 PROXY STATEMENT | 48 | |

  94. Individual Performance (20% of STIP)

    Individual Performance (20% of STIP) As was initially described above, twenty percent of each NEO’s STIP payout is tied to individual performance. With respect to each fiscal year, the Chief Executive Officer evaluates the individual performance of our other NEOs using an assessment model as determined by the Chief Executive Officer in consultation with the Chief Human Resources Officer. The Chief Executive Officer’s evaluation is then provided to the Compensation Committee to assist in determining the incentive award payment and achievement of individual goals for each of our other NEOs. The Compensation Committee evaluates the Chief Executive Officer’s annual performance, and receives input from the full Board. When evaluating performance for 2024, these assessments included the following areas of focus: strategic plan, risk management initiatives, financial/operating results and metrics, leadership, drivers of profitability enhancement, enabling a durable growth-oriented operating model, customer relationships and developing a high-performance culture. Key highlights and assessments of individual goals are set forth below:

  95. Individual Performance (20% of STIP)

    | | Individual Contributions | | Kevin Kim | Mr. Kim led his management team through a building year in 2024, positioning the Bank’s balance sheet for future growth and overseeing and driving key strategic initiatives throughout the Bank. Mr. Kim also led our M&A execution strategy that resulted in the Company entering into a merger agreement to acquire Territorial Bancorp. All these factors resulted in an 86% bonus payout for the individual performance component of the STIP. | | Julianna Balicka | Ms. Balicka spearheaded many strategic initiatives in 2024, including enhanced budgeting, strategic planning and profitability analysis. Ms. Balicka also led investments in renewable solar energy tax credits that generated income tax benefits, and she led her team in supporting the financial information required for the regulatory application process for the Territorial acquisition. All these factors resulted in a 106% bonus payout for the individual performance component of the STIP. | | Kyu S. Kim | Ms. Kim led the commercial banking group during 2024, restructuring the business to better serve the Bank’s customers. 2024 was an important building year in which roles and responsibilities of relationship managers and supporting teams were streamlined and reorganized. Although financial performance fell short of achieving targets, Ms. Kim’s leadership helped further realignment in support of the Bank’s reorganization. As such, the Compensation Committee awarded Ms. Kim a 60% bonus payout for the individual performance component of the STIP. | | Peter J. Koh | Mr. Koh oversaw several key initiatives in 2024, including the development and implementation measurement tools to foster a high-performance culture throughout the Bank, as well as the development of framework of clearly defined roles, responsibilities and core processes for our lines of business, product teams and other key areas of the Bank. Mr. Koh also oversees our credit function. Net charge offs decreased between 2023 and 2024; however, criticized loans increased during the same period in 2024, although net charge offs improved year-over-year. All these factors resulted in a 67% bonus payout for the individual performance component of the STIP. | | Thomas P. Stenger | Mr. Stenger oversees the Company’s enterprise risk management function, which includes oversight of multiple areas of risk, including third party risk management, procurement, information security, compliance, model risk management, enterprise risk management and independent credit review. As a result of Mr. Stenger’s leadership the company continues to maintain a strong and balanced risk management program. Additionally, Mr. Stenger led his team in supporting risk management information required for the regulatory application process for the Territorial acquisition. The Compensation Committee approved a 40% bonus payout for the individual performance component of the STIP for Mr. Stenger, consistent with the Company’s achievement of the corporate performance measures in 2024, which was also 40%. |

  96. Individual Performance (20% of STIP)

    | | 49 | 2025 PROXY STATEMENT |

  97. 2024 Actual STIP Earned

    2024 Actual STIP Earned Below is the total 2024 STIP award earned by each NEO. The corporate performance component of the STIP is reported under the Non-Equity Incentive Compensation column of the Summary Compensation Table and the individual performance component is reported under the Bonus column.

  98. 2024 Actual STIP Earned

    | | Corporate Performance Metrics | Individual Performance | Total Cash Incentive Earned | % of Target Award Earned | | Kevin Kim | $351,560 | $189,640 | $541,200 | 49% | | Julianna Balicka | $60,085 | $39,915 | $100,000 | 53% | | Kyu S. Kim | $67,595 | $25,405 | $93,000 | 44% | | Peter J. Koh | $70,472 | $29,528 | $100,000 | 45% | | Thomas P. Stenger | $71,910 | $18,090 | $90,000 | 40% |

  99. Long-Term Equity Incentive Awards

    Long-Term Equity Incentive Awards The Compensation Committee believes that equity-based compensation ensures that the Company’s officers have a personal stake in the long-term success of the Company without encouraging such officers to take inappropriate or unnecessary risks. Our LTIP has the following objectives:

  100. Long-Term Equity Incentive Awards

    | ● | Attract and retain the services of individuals who are likely to make significant contributions to the Company’s success; |

  101. Long-Term Equity Incentive Awards

    | ● | Encourage ownership of the Company’s Common Stock by employees; |

  102. Long-Term Equity Incentive Awards

    | ● | Align executives with stockholder interests; and |

  103. Long-Term Equity Incentive Awards

    | ● | Ensure sound risk management by providing a balanced view of performance and aligning rewards with the longer-term time horizon of risk outcomes. |

  104. Long-Term Equity Incentive Awards

    The LTIP provides for long-term incentive opportunities through a combination of time-based and performance-contingent equity grants. A select group of senior management and key executives who impact organization-wide results will be considered for participation by the Compensation Committee on an annual basis, with consideration of input from our Chief Executive Officer. The Compensation Committee determined that 50% of the 2024 Long-Term Incentive Program (“2024 LTIP”) award was subject to time-based vesting and 50% of the 2024 LTIP was subject to performance-based vesting for all recipients, including our NEOs. Unless determined otherwise by the Compensation Committee, LTIP awards are expected to be granted annually, with overlapping three-year performance cycles. All LTIP awards granted in 2024 were granted under our stockholder-approved 2024 Equity Incentive Compensation Plan (“2024 Plan”). LTIP awards are typically granted on the date the Compensation Committee approves them, usually during its first-quarter meeting in March of each fiscal year. However, in 2024, the awards were granted later in the year to ensure they were issued under the newly stockholder-approved 2024 Plan. Since stockholders approved the plan in May 2024, the awards were granted in July instead of March. When awards are granted in March, it is typically after the Company files its Annual Report on Form 10-K for the prior fiscal year. If an event requires a public disclosure around that time, the Company may delay granting equity awards until the information is shared with the market. Details about the grant date for 2024 awards can be found in “Executive Compensation Tables — Grants of Plan-Based Award Table” under this Proposal 3. With the exception of termination due to change in control, and in some cases death or disability, participants will generally forfeit all rights to any unvested portion of LTIP awards upon termination of employment. The LTIP is subject to the Company’s clawback policy, as it may be modified from time to time. The time-vesting component of LTIP awards is granted as RSUs that vest one-third each on the first three anniversaries of the grant date. For the 2024 LTIP grant, our Compensation Committee responded to stockholder feedback favoring three-year performance measurement for all LTIP goals. As a result, we eliminated the previous 12-month EPS goal and structured all 2024 performance share units (PSUs), to be earned based on the achievement of pre-established performance goals over a three-year performance

  105. Long-Term Equity Incentive Awards

    | 2025 PROXY STATEMENT | 50 | |

  106. Long-Term Equity Incentive Awards

    period. These goals, designed to measure sustained business success, are set and overseen by the Compensation Committee with input from management. At the end of three years, the Company’s performance is assessed to determine the final award payout. After reviewing peer group practices and LTIP metrics, the Committee approved 2024 PSUs, the vesting of which was based on the return on average tangible common equity (ROTCE), excluding notable items, and relative total stockholder return (TSR), reinforcing our commitment to long-term value creation.

  107. Long-Term Equity Incentive Awards

    | Performance Measure | Weighting | Measurement Perspective | Performance Goals | | | | | | | Threshold | Target | Stretch | | Return on Average Tangible Common Equity (excluding notable items)(1) | 50% | Absolute | Threshold, target and maximum goals are based on the Company’s internal three-year forecast at the time of grant. | | | | Total Stockholder Return(2) | 50% | Relative | 25th Percentile | 50th Percentile | 75th Percentile | | Payout as % of Target | | | 50% | 100% | 150% |

  108. Long-Term Equity Incentive Awards

    | (1) ROTCE, excluding notable items, is measured on an absolute basis against the Company’s three-year forecast at the time of grant, taking the average of the ROTCE for the period from January 1, 2024, through December 31, 2026. Notable items are excluded from this calculation. Notable items vary year-to-year, depending on circumstances, and are disclosed through reconciliation tables of GAAP to Non-GAAP Financial Measures in the Company’s financial statements. ROTCE (excluding notable items) is a non-GAAP financial measure; it is calculated by taking net income (excluding notable items) and dividing it by average tangible common equity. Average tangible common equity is a non-GAAP financial measure and is calculated as average stockholders’ equity less goodwill and core deposit intangible assets, net. |

  109. Long-Term Equity Incentive Awards

    | (2) TSR is measured on a relative basis against the KBW Nasdaq Regional Banking Index over the period of January 1, 2024 through December 31, 2026. |

  110. Long-Term Equity Incentive Awards

    Performance below “Threshold” for a given performance measure will result in the forfeiture of that portion of the LTIP award. Performance at or above “Stretch” for a given performance measure will result in a payout equal to 150% of the respective target portion of the LTIP award. Performance between “Threshold—Target—Stretch” will be determined using a straight-line interpolation and rounded up to the nearest whole number of shares. Each LTIP participant has a target award denominated as a percentage of his/her base salary in effect on the date of grant as determined by the Compensation Committee, taking into account recommendations from our Chief Executive Officer with respect to our other NEOs. The following table summarizes target award opportunities, expressed as grant date fair market value as a percentage of base salary, for each NEO under the LTIP:

  111. Long-Term Equity Incentive Awards

    | Position | Total Target Award as % of Salary | LTIP: Time-Based Vesting RSUs | LTIP: Target Performance- Contingent PSUs | | Chairman, President & Chief Executive Officer | 150% | 75% | 75% | | Other NEOs | 40% - 60% | 20% - 30% | 20% - 30% |

  112. Long-Term Equity Incentive Awards

    The Compensation Committee approved the following number of units underlying LTIP equity awards granted to the NEOs in 2024.

  113. Long-Term Equity Incentive Awards

    | | Grant Date | LTIP: Time-Based Vesting RSUs (#) | LTIP: PSUs ROTCE (at target) (#) | LTIP: PSUs TSR (at target) (#) | | Kevin S. Kim | 7/19/2024 | 65,011 | 32,506 | 32,506 | | Julianna Balicka | 7/19/2024 | 9,259 | 4,629 | 4,630 | | Kyu S. Kim | 7/19/2024 | 10,185 | 5,092 | 5,093 | | Peter J. Koh | 7/19/2024 | 11,583 | 5,792 | 5,792 | | Thomas P. Stenger | 7/19/2024 | 8,865 | 4,432 | 4,433 |

  114. Long-Term Equity Incentive Awards

    | | 51 | 2025 PROXY STATEMENT |

  115. Long-Term Equity Incentive Awards

    For the PSUs that were granted in 2024, below is the grant date of each award and the value assuming the most probable outcome is achieved and the grant date fair value assuming achievement of the target and maximum levels of performance:

  116. Long-Term Equity Incentive Awards

    | | Grant Date | Description of PSU Granted | Grant Date Fair Value | | | | | | | Assuming Most Probable Outcome is Achieved(1) | Assuming Target Outcome is Achieved(2) | Assuming Maximum Value is Achieved(3) | | Kevin S. Kim | 7/19/2024 | LTIP (Performance-Based Absolute ROTCE) | $412,501 | $412,501 | $618,752 | | | 7/19/2024 | LTIP (Performance-Based Relative TSR) | $366,668 | $412,501 | $618,752 | | Julianna Balicka | 7/19/2024 | LTIP (Performance-Based Absolute ROTCE) | $58,742 | $58,742 | $88,113 | | | 7/19/2024 | LTIP (Performance-Based Relative TSR) | $52,226 | $58,755 | $88,132 | | Kyu S. Kim | 7/19/2024 | LTIP (Performance-Based Absolute ROTCE) | $64,617 | $64,617 | $96,926 | | | 7/19/2024 | LTIP (Performance-Based Relative TSR) | $57,449 | $64,630 | $96,945 | | Peter J. Koh | 7/19/2024 | LTIP (Performance-Based Absolute ROTCE) | $73,500 | $73,500 | $110,251 | | | 7/19/2024 | LTIP (Performance-Based Relative TSR) | $65,334 | $75,500 | $110,251 | | Thomas P. Stenger | 7/19/2024 | LTIP (Performance-Based Absolute ROTCE) | $56,242 | $56,242 | $84,363 | | | 7/19/2024 | LTIP (Performance-Based Relative TSR) | $50,004 | $56,255 | $84,382 |

  117. Long-Term Equity Incentive Awards

    | (1) Amounts reported represent most probable outcome achieved in accordance with FASB ASC Topic 718. For each LTIP performance-based relative TSR award, the value of the shares and probable vesting was determined assuming the most probable outcome achieved is calculated using the Monte Carlo simulation model. See Note 12 of the Company’s consolidated financial statements in our 2024 Annual Report on Form 10-K, incorporated by reference herein, for information regarding assumptions underlying valuation of equity awards. |

  118. Long-Term Equity Incentive Awards

    | (2) Assumes achievement of the target level of performance conditions, which is calculated as the target number of shares multiplied by $12.69, the closing price per share of the Company’s Common Stock on July 19, 2024, the date of grant. |

  119. Long-Term Equity Incentive Awards

    | (3) Assumes achievement of the maximum level of performance conditions, which is calculated as the maximum number of shares multiplied by $12.69, the closing price per share of the Company’s Common Stock on July 19, 2024, the date of grant. |

  120. 2022 LTIP Grants – Partial Achievement of Performance Goals Determined During the First Quarter of 2025

    2022 LTIP Grants – Partial Achievement of Performance Goals Determined During the First Quarter of 2025 For the 2022 LTIP grant, our Compensation Committee approved PSUs based on absolute EPS for a 12-month performance period, and relative ROTCE and relative TSR contingent on the achievement of pre-established three-year performance goals as shown in the table below. Results for EPS are linearly interpolated for performance between threshold and target and target and stretch levels. For relative ROTCE and TSR, adjustments for levels achieved between the 25th, 50th, and 75th percentiles are also linearly interpolated. The table below also shows actual performance results achieved.

  121. 2022 LTIP Grants – Partial Achievement of Performance Goals Determined During the First Quarter of 2025

    | Performance Measure | Weighting | Measurement Perspective | 2022-2024 Performance Goals | | | Results | | | | | | Threshold | Target | Stretch | Actual Performance | Percentage of Target Achieved | | Earnings Per Share(1) | 40% | Absolute | $1.47 | $1.63 | $1.79 | $1.81 | 150% | | Return on Average Tangible Common Equity(2) | 40% | Relative | 25th Percentile | 50th Percentile | 75th Percentile | 8th Percentile | — | | Total Stockholder Return(3) | 20% | Relative | 25th Percentile | 50th Percentile | 75th Percentile | 26th Percentile | 52% | | Payout as % of Target | | | 50% | 100% | 150% | | |

  122. 2022 LTIP Grants – Partial Achievement of Performance Goals Determined During the First Quarter of 2025

    | (1) EPS is measured on an absolute basis against the Company’s budget/forecast over the period January 1, 2022 through December 31, 2022. |

  123. 2022 LTIP Grants – Partial Achievement of Performance Goals Determined During the First Quarter of 2025

    | (2) ROTCE is measured on a relative basis against a defined group of peer banks over the period January 1, 2022 through December 31, 2024. ROTCE is a non-GAAP financial measure; it is calculated by taking net income and dividing it by average tangible common equity. Average tangible common equity is a non-GAAP financial measure and is calculated as average stockholders’ equity less goodwill and core deposit intangible assets, net. |

  124. 2022 LTIP Grants – Partial Achievement of Performance Goals Determined During the First Quarter of 2025

    | (3) TSR is measured on a relative basis against a defined group of peer banks over the period January 1, 2022 through December 31, 2024 (calculated assuming that dividends during the period are reinvested in company shares on the date paid). |

  125. 2022 LTIP Grants – Partial Achievement of Performance Goals Determined During the First Quarter of 2025

    | 2025 PROXY STATEMENT | 52 | |

  126. 2022 LTIP Grants – Partial Achievement of Performance Goals Determined During the First Quarter of 2025

    The target shares for the 2022 LTIP awards, as well as the number of shares earned based on actual performance of EPS, ROTCE and TSR, is set forth below. The actual award earned was calculated based on the target shares multiplied by the percentage payout.

  127. 2022 LTIP Grants – Partial Achievement of Performance Goals Determined During the First Quarter of 2025

    | | Grant Date | Target Shares | Performance Achieved | % Payout | Shares Vested on March 7, 2025 | | Kevin S. Kim | 3/23/2022 | 48,853 | Between Threshold and Target | 70% | 34,393 | | Julianna Balicka | — | — | — | — | — | | Kyu S. Kim | 3/23/2022 | 4,653 | Between Threshold and Target | 70% | 3,276 | | Peter J. Koh | 3/23/2022 | 4,273 | Between Threshold and Target | 70% | 3,713 | | Thomas P. Stenger | 3/23/2022 | 4,808 | Between Threshold and Target | 70% | 3,385 |

  128. Summary Compensation Table

    Summary Compensation Table The “Summary Compensation Table” and related narratives present the compensation paid to or earned by our NEOs for the years ended December 31, 2024, 2023 and 2022.

  129. Summary Compensation Table

    | Name and Principal Position | Year | Salary | Bonus(1) | Stock Awards(2) | Options Awards | Non-Equity Incentive Plan Compen- sation(3) | Change in Pension Value and Nonqualified Deferred Compensation Earnings(4) | All Other Compen- sation(5) | Total | | Kevin S. Kim Chairman, President & Chief Executive Officer | 2024 | $1,086,538 | $189,700 | $1,604,158 | — | $351,560 | $6,699 | $76,113 | $3,314,768 | | | 2023 | $1,050,000 | $1,050 | $1,234,428 | — | $654,980 | $6,295 | $60,712 | $3,007,465 | | | 2022 | $1,037,077 | $1,050 | $1,428,155 | — | $1,030,730 | $5,914 | $57,399 | $3,560,325 | | Julianna Balicka(6) Chief Financial Officer | 2024 | $464,615 | $39,975 | $228,465 | — | $60,085 | — | — | $793,140 | | | 2023 | $311,538 | $145,050 | $228,750 | — | — | — | — | $685,338 | | Kyu S. Kim Chief Commercial Banking Officer | 2024 | $461,446 | $25,465 | $251,314 | — | $67,595 | $2,537 | $47,196 | $855,553 | | | 2023 | $434,239 | $130,050 | $228,506 | — | — | $2,384 | $47,106 | $842,285 | | | 2022 | $417,981 | $79,286 | $218,514 | — | — | $2,240 | $43,771 | $761,792 | | Peter J. Koh Chief Operating Officer | 2024 | $476,539 | $29,588 | $285,823 | — | $70,472 | — | $31,050 | $893,472 | | | 2023 | $429,231 | $160,050 | $253,876 | — | — | — | $30,675 | $873,832 | | | 2022 | $399,145 | $83,333 | $238,152 | — | — | — | $29,410 | $750,040 | | Thomas P. Stenger Chief Risk Officer | 2024 | $494,714 | $18,150 | $218,743 | — | $71,910 | — | $139,408 | $942,925 | | | 2023 | $475,991 | $105,050 | $213,313 | — | — | — | $155,513 | $949,867 | | | 2022 | $442,276 | $81,905 | $217,548 | — | — | — | $127,986 | $869,715 |

  130. Summary Compensation Table

    | (1) Includes the amount earned from the 20% discretionary bonus opportunity based on achievement of individual performance objectives under the 2024 STIP (as was further described in the CD&A under this Proposal 3), the cash portion of awards under the 2023 and 2024 STIP, and a holiday bonus paid during the fourth quarter of 2024, 2023 and 2022. |

  131. Summary Compensation Table

    | (2) Amounts reported represent the aggregate grant date fair value for RSUs and PSUs granted in each respective year in accordance with FASB ASC Topic 718, excluding the effect of forfeitures. See “Stock Based Compensation” in Note 12 of the Company’s consolidated financial statements included in our 2024 Annual Report on Form 10-K, incorporated by reference herein, for more information regarding the Company’s accounting for stock-based compensation. Amounts reported herein include (i) time-based RSUs issued under our 2024 LTIP and (ii) PSUs issued under our 2024 LTIP. The amounts shown in the “Summary Compensation Table” above do not represent the actual value realized by each NEO. |

  132. Summary Compensation Table

    | 2025 PROXY STATEMENT | 56 | |

  133. Summary Compensation Table

    | The following table sets forth the grant date fair value for each award granted to the NEOs during the year ended December 31, 2024. For PSUs, the table presents both the grant date fair value assuming achievement of the most probable outcome of the performance conditions (which is the amount set forth in column of the “Summary Compensation Table” titled Stock Awards), and the grant date fair value assuming the maximum award amount is achieved (which is calculated as the maximum number of shares that could be achieved multiplied by $12.69, the closing price per share of the Company’s Common Stock on July 19, 2024, the date of grant). However, for the PSUs that are LTIP performance-based relative TSR awards, the value reflects the most probable outcome achieved which is calculated using the Monte Carlo simulation model). See “Executive Compensation Tables — Grants of Plan Based Awards Table” under this Proposal 3 and the CD&A for additional details regarding the awards. |

  134. Summary Compensation Table

    | | | | Grant Date Fair Value | | | | Grant Date | Type of Award Granted | Assuming Most Probable Outcome is Achieved | Assuming Maximum Value is Achieved | | Kevin S. Kim | 7/19/2024 | LTIP (Time-Based) | $824,990 | $824,990 | | | 7/19/2024 | LTIP (Performance-Based Relative ROTCE) | $412,501 | $618,752 | | | 7/19/2024 | LTIP (Performance-Based Relative TSR) | $366,668 | $618,752 | | Julianna Balicka | 7/19/2024 | LTIP (Time-Based) | $117,497 | $117,497 | | | 7/19/2024 | LTIP (Performance-Based Relative ROTCE) | $58,742 | $88,113 | | | 7/19/2024 | LTIP (Performance-Based Relative TSR) | $52,226 | $88,132 | | Kyu S. Kim | 7/19/2024 | LTIP (Time-Based) | $129,248 | $129,248 | | | 7/19/2024 | LTIP (Performance-Based Relative ROTCE) | $64,617 | $96,926 | | | 7/19/2024 | LTIP (Performance-Based Relative TSR) | $57,449 | $96,945 | | Peter J. Koh | 7/19/2024 | LTIP (Time-Based) | $146,988 | $146,988 | | | 7/19/2024 | LTIP (Performance-Based Relative ROTCE) | $73,500 | $110,251 | | | 7/19/2024 | LTIP (Performance-Based Relative TSR) | $65,334 | $110,251 | | Thomas P. Stenger | 7/19/2024 | LTIP (Time-Based) | $112,497 | $112,497 | | | 7/19/2024 | LTIP (Time-Based) | $56,242 | $84,363 | | | 7/19/2024 | LTIP (Performance-Based Relative ROTCE) | $50,004 | $84,382 |

  135. Summary Compensation Table

    | (3) Reflects the 80% portion of the annual 2024 STIP based on achievement of the financial metrics (as was further described in the CD&A under this Proposal 3), and reflects amounts earned under the 2023 STIP and 2022 STIP. |

  136. Summary Compensation Table

    | (4) Amounts shown are above-market interest on long-term incentive agreement deferred accounts, based on the difference between the 6.25% annual interest rate provided on the long-term incentive agreement accounts and 120% of the applicable federal long-term rate (compounded monthly) in effect at the time the respective long-term incentive agreement was established, which was 3.06% for Kevin S. Kim and 4.60% for Kyu S. Kim. |

  137. Summary Compensation Table

    | (5) For 2024, all other compensation for each NEO includes the following: |

  138. Summary Compensation Table

    | | Year | 401(k) Match | Auto Allowance | Perquisites(a) | Other | Total | | Kevin S. Kim | 2024 | $20,700 | — | $55,413 | — | $76,113 | | Julianna Balicka | 2024 | — | — | — | — | — | | Kyu S. Kim | 2024 | $18,391 | $13,800 | $15,005 | — | $47,196 | | Peter J. Koh | 2024 | $17,250 | $13,800 | — | — | $31,050 | | Thomas P. Stenger | 2024 | $14,223 | $13,800 | $111,385 | — | $139,408 |

  139. Summary Compensation Table

    | (a) Perquisites in 2024 for Kevin S. Kim includes monthly membership fees at a social club and a country club, aggregating $43,041, auto-related expense reimbursements of $6,372, and executive medical program reimbursement of $6,000; for Kyu S. Kim it includes the estimated value of the BOLI benefit of $6,702 based on the cost of coverage specified by the IRS group-term life insurance premium table, and parking fringe benefits of $8,303; for Thomas P. Stenger it includes relocation and travel expenses of $111,385. |

  140. Summary Compensation Table

    | (6) Julianna Balicka was appointed Chief Financial Officer of the Company and the Bank effective April 17, 2023. |

  141. Summary Compensation Table

    | | 57 | 2025 PROXY STATEMENT |

  142. Grants of Plan-Based Awards Table

    Grants of Plan-Based Awards Table The following summarizes non-equity and equity incentive awards granted to the NEOs during the fiscal year ended December 31, 2024, under our 2024 Plan. There were no other plan-based awards granted to NEOs during the year.

  143. Grants of Plan-Based Awards Table

    | Name | Grant Date | Estimated Future Payouts Under Non-equity Incentive Plan Awards | | | Estimated Future Payouts Under Equity Incentive Plan Awards(1) | | | All Other Stock Awards: Number of Shares of Stock or Units | All Other Option Awards: Number of Securities Under- lying Options | Exercise or Base Price of Option Awards ($/Sh) | Grant Date Fair Value of Stock and Option Awards(2) | | | | Threshold | Target | Maximum | Threshold | Target | Maximum | | | | | | Kevin S. Kim Chairman, President & Chief Executive Officer | 3/21/2024(3) | $440,000 | $880,000 | $1,320,000 | — | — | — | — | — | — | — | | | 7/19/2024 | — | — | — | — | — | — | 65,011(4) | — | — | $824,990 | | | 7/19/2024 | — | — | — | 16,253 | 32,506 | 48,759 | — | — | — | $412,501 | | | 7/19/2024 | — | — | — | 16,253 | 32,506 | 48,759 | — | — | — | $366,668 | | Julianna Balicka Chief Financial Officer | 3/21/2024(3) | $75,200 | $150,440 | $225,600 | — | — | — | — | — | — | — | | | 7/19/2024 | — | — | — | — | — | — | 9,259(4) | — | — | $117,497 | | | 7/19/2024 | | | | 2,315 | 4,629 | 6,944 | — | | | $58,724 | | | 7/19/2024 | | | | 2,315 | 4,630 | 6,945 | — | | | $52,226 | | Kyu S. Kim Chief Commercial Banking Officer | 3/21/2024(3) | $84,600 | $169,200 | $253,800 | — | — | — | — | — | — | — | | | 7/19/2024 | — | — | — | — | — | — | 10,185(4) | — | — | $129,248 | | | 7/19/2024 | — | — | — | 2,546 | 5,092 | 7,638 | — | — | — | $64,617 | | | 7/19/2024 | — | — | — | 2,547 | 5,093 | 7,640 | — | — | — | $57,449 | | Peter J. Koh Chief Operating Officer | 3/21/2024(3) | $88,200 | $176,400 | $264,600 | — | — | — | — | — | — | — | | | 7/19/2024 | — | — | — | — | — | — | 11,583(4) | — | — | $146,988 | | | 7/19/2024 | — | — | — | 2,896 | 5,792 | 8,688 | — | — | — | $73,500 | | | 7/19/2024 | — | — | — | 2,896 | 5,792 | 8,688 | — | — | — | $65,334 | | Thomas P. Stenger Chief Risk Officer | 3/21/2024(3) | $90,000 | $180,000 | $270,000 | — | — | — | — | — | — | — | | | 7/19/2024 | — | — | — | — | — | — | 8,865(6) | — | — | $112,497 | | | 7/19/2024 | — | — | — | 2,216 | 4,432 | 6,648 | — | — | — | $56,242 | | | 7/19/2024 | — | — | — | 2,217 | 4,433 | 6,650 | — | — | — | $50,004 |

  144. Grants of Plan-Based Awards Table

    | (1) Represents PSUs issued in accordance with the objectives of the 2024 LTIP, which PSUs will vest in full no later than March 14, 2027 (or an earlier date) if the performance criteria are met. |

  145. Grants of Plan-Based Awards Table

    | (2) The grant date fair value (with respect to performance-based awards, based on the probable outcome of the applicable performance conditions), is computed in accordance with FASB ASC Topic 718. See Note 12 of the Company’s consolidated financial statements in our 2024 Annual Report on Form 10-K, incorporated by reference herein, for information regarding assumptions underlying valuation of equity awards. |

  146. Grants of Plan-Based Awards Table

    | (3) Reflects the 80% portion of the annual STIP for all NEOs, which is earned based on achievement of pre-determined financial objectives. |

  147. Grants of Plan-Based Awards Table

    | (4) Amounts reflect 2024 LTIP grants of time-vested restricted stock units under our 2024 Plan, which vest ratably on each of the first three anniversaries of the grant date. |

  148. Grants of Plan-Based Awards Table

    | 2025 PROXY STATEMENT | 58 | |

  149. Outstanding Equity Awards at Fiscal Year-End Table

    Outstanding Equity Awards at Fiscal Year-End Table The following table presents information concerning the value of all unexercised options and unvested stock awards awarded to the NEOs and remaining outstanding as of December 31, 2024. This includes options and unvested restricted stock and restricted stock units granted under the 2024 Plan, the 2019 Plan and the 2016 Plan.

  150. Outstanding Equity Awards at Fiscal Year-End Table

    | Name | | Option Awards | | | | Stock Awards | | | | | | Option/Stock Award Grant Date | Number of Securities Underlying Unexercised Options: Exercisable | Number of Securities Underlying Unexercised Options: Unexercisable | Option Exercise Price | Option Expiration Date | Number of Shares or Units of Stock That Have Not Vested(1) | Market Value of Shares or Units of Stock That Have Not Vested(2) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested(3) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested(2) | | Kevin S. Kim Chairman, President & Chief Executive Officer | 5/26/2016 | 30,660 | — | $16.12 | 5/26/2026 | — | — | — | — | | | 9/1/2016 | 60,000 | — | $17.18 | 9/1/2026 | — | — | — | — | | | 3/23/2022 | — | — | — | — | 16,284 | $200,130 | — | — | | | 3/23/2022(4) | — | — | — | — | 29,312 | $360,238 | — | — | | | 3/23/2022(5) | — | — | — | — | — | — | 19,541 | $240,159 | | | 3/23/2022(5) | — | — | — | — | — | — | 9,771 | $120,086 | | | 3/22/2023 | — | — | — | — | 45,415 | $558,150 | — | — | | | 3/22/2023(6) | — | — | — | — | — | — | — | — | | | 3/22/2023(7) | — | — | — | — | — | — | 27,249 | $334,890 | | | 3/22/2023(7) | — | — | — | — | — | — | 13,625 | $167,451 | | | 7/19/2024 | — | — | — | — | 65,011 | $798,985 | — | — | | | 7/19/2024(8) | — | — | — | — | — | — | 32,506 | $399,499 | | | 7/19/2024(8) | — | — | — | — | — | — | 32,506 | $399,499 | | Julianna Balicka Chief Financial Officer | 4/27/2023 | — | — | — | — | 20,000 | $245,800 | — | — | | | 7/19/2024 | — | — | — | — | 9,259 | $113,793 | — | — | | | 7/19/2024(8) | — | — | — | — | — | — | 4,629 | $56,890 | | | 7/19/2024(8) | — | — | — | — | — | — | 4,630 | $56,903 | | Kyu S. Kim Chief Commercial Banking Officer | 9/1/2016 | 30,000 | — | $17.18 | 9/1/2026 | — | — | — | — | | | 3/23/2022 | — | — | — | — | 1,551 | $19,062 | — | — | | | 3/23/2022(4) | — | — | — | — | 2,792 | $34,308 | — | — | | | 3/23/2022(5) | — | — | — | — | — | — | 1,861 | $22,872 | | | 3/23/2022(5) | — | — | — | — | — | — | 931 | $11,442 | | | 3/22/2023 | — | — | — | — | 3,772 | $46,358 | — | — | | | 3/22/2023 | — | — | — | — | 5,334 | $65,555 | — | — | | | 3/22/2023(6) | — | — | — | — | — | — | — | — | | | 3/22/2023(7) | — | — | — | — | — | — | 3,200 | $39,328 | | | 3/22/2023(7) | — | — | — | — | — | — | 1,602 | $19,689 | | | 7/19/2024 | — | — | — | — | 10,185 | $125,174 | — | — | | | 7/19/2024(8) | — | — | — | — | — | — | 5,092 | $62,581 | | | 7/19/2024(8) | — | — | — | — | — | — | 5,093 | $62,593 |

  151. Outstanding Equity Awards at Fiscal Year-End Table

    | 2025 PROXY STATEMENT | 60 | |

  152. Outstanding Equity Awards at Fiscal Year-End Table

    | Name | | Option Awards | | | | Stock Awards | | | | | | Option/Stock Award Grant Date | Number of Securities Underlying Unexercised Options: Exercisable | Number of Securities Underlying Unexercised Options: Unexercisable | Option Exercise Price | Option Expiration Date | Number of Shares or Units of Stock That Have Not Vested(1) | Market Value of Shares or Units of Stock That Have Not Vested(2) | Equity Incentive Plan Awards: Number of Unearned Shares, Units or Other Rights That Have Not Vested(3) | Equity Incentive Plan Awards: Market or Payout Value of Unearned Shares, Units or Other Rights That Have Not Vested(2) | | Peter J. Koh Chief Operating Officer | 9/1/2016 | 20,000 | — | $17.18 | 9/1/2026 | — | — | — | — | | | 3/23/2022 | — | — | — | — | 1,758 | $21,606 | — | — | | | 3/23/2022(4) | — | — | — | — | 3,164 | $38,879 | — | — | | | 3/23/2022(5) | — | — | — | — | — | — | 2,109 | $25,920 | | | 3/23/2022(5) | — | — | — | — | — | — | 1,055 | $12,966 | | | 3/22/2023 | — | — | — | — | 3,965 | $48,730 | — | — | | | 3/22/2023 | — | — | — | — | 6,344 | $77,968 | — | — | | | 3/22/2023(6) | — | — | — | — | — | — | — | — | | | 3/22/2023(7) | — | — | — | — | — | — | 3,806 | $46,776 | | | 3/22/2023(7) | — | — | — | — | — | — | 1,904 | $23,400 | | | 7/19/2024 | — | — | — | — | 11,583 | $142,355 | — | — | | | 7/19/2024(8) | — | — | — | — | — | — | 5,792 | $71,184 | | | 7/19/2024(8) | — | — | — | — | — | — | 5,792 | $71,184 | | Thomas P. Stenger Chief Risk Officer | 3/23/2022 | — | — | — | — | 1,603 | $19,701 | — | — | | | 3/23/2022(4) | — | — | — | — | 2,885 | $35,451 | — | — | | | 3/23/2022(5) | — | — | — | — | — | — | 1,923 | $23,634 | | | 3/23/2022(5) | — | — | — | — | — | — | 962 | $11,823 | | | 3/22/2023 | — | — | — | — | 3,897 | $47,894 | — | — | | | 3/22/2023 | — | — | — | — | 4,902 | $60,246 | — | — | | | 3/22/2023(6) | — | — | — | — | — | — | — | — | | | 3/22/2023(7) | — | — | — | — | — | — | 2,941 | $36,145 | | | 3/22/2023(7) | — | — | — | — | — | — | 1,471 | $18,079 | | | 7/19/2024 | — | — | — | — | 8,865 | $108,951 | — | — | | | 7/19/2024(8) | — | — | — | — | — | — | 4,432 | $54,469 | | | 7/19/2024(8) | — | — | — | — | — | — | 4,433 | $54,482 |

  153. Outstanding Equity Awards at Fiscal Year-End Table

    | | 61 | 2025 PROXY STATEMENT |

  154. Outstanding Equity Awards at Fiscal Year-End Table

    | (1) Vesting information about RSUs outstanding at December 31, 2024, are set forth in the table below; RSUs are time-vested only: |

  155. Outstanding Equity Awards at Fiscal Year-End Table

    | | Grant Date | Program RSUs Granted Under | Shares Granted | Vesting Period | Vesting Portion | Vesting Begins /Occurs | | Kevin S. Kim | 3/23/2022 | 2022 LTIP | 48,852 | 3 years | Substantially equal vesting | First anniversary of grant date | | | 3/22/2023 | 2023 LTIP | 68,122 | 3 years | | | | | 7/19/2024 | 2024 LTIP | 65,011 | 3 years | | | | Julianna Balicka | 4/27/2023 | New Hire Grant | 25,000 | 5 years | | | | | 7/19/2024 | 2024 LTIP | 9,259 | 3 years | | | | Kyu S. Kim | 3/23/2022 | 2022 LTIP | 4,652 | 3 years | | | | | 3/22/2023 | 2022 STIP | 7,544 | 2 years | | | | | 3/23/2023 | 2023 LTIP | 8,001 | 3 years | | | | | 7/19/2024 | 2024 LTIP | 10,185 | 3 years | | | | Peter J. Koh | 3/23/2022 | 2022 LTIP | 5,273 | 3 years | | | | | 3/22/2023 | 2022 STIP | 7,929 | 2 years | | | | | 3/22/2023 | 2023 LTIP | 9,515 | 3 years | | | | | 7/19/2024 | 2024 LTIP | 11,583 | 3 years | | | | Thomas P. Stenger | 3/23/2022 | 2022 LTIP | 4,807 | 3 years | | | | | 3/22/2023 | 2022 STIP | 7,793 | 2 years | | | | | 3/22/2023 | 2023 LTIP | 7,352 | 3 years | | | | | 7/19/2024 | 2024 LTIP | 8,865 | 3 years | | |

  156. Outstanding Equity Awards at Fiscal Year-End Table

    | (2) Value based on $12.29, the closing price per share of the Company’s Common Stock on December 31, 2024. |

  157. Outstanding Equity Awards at Fiscal Year-End Table

    | (3) Represents the number of shares issuable, assuming achievement of the target level performance conditions associated with each PSU. |

  158. Outstanding Equity Awards at Fiscal Year-End Table

    | (4) Represents a PSU that is being reported in the respective columns due to determination as of December 31, 2022 of achievement of the maximum level of performance condition based on a 12-month EPS goal, and, thereafter, the award was, in effect, a time-based award with the shares vesting in full on March 7, 2025. See “2024 Executive Compensation Program in Detail — Long-Term Equity Incentive Awards” under this Proposal 3. |

  159. Outstanding Equity Awards at Fiscal Year-End Table

    | (5) Represents PSUs that vested in part on March 7, 2025, based on satisfaction of the associated performance criteria, in each case as described above in “2024 Executive Compensation Program in Detail — 2022 LTIP Grants — Partial Achievement of Performance Goals Determined During Q1 2025” under this Proposal 3. The value was calculated based on achievement of target performance. |

  160. Outstanding Equity Awards at Fiscal Year-End Table

    | (6) Represents a PSU that is being reported at $0 value due to the determination as of December 31, 2023 of failure to achieve the threshold performance condition based on a 12-month EPS goal and, thereafter, the award was, in effect, a time-based award with the shares forfeiting in full on March 7, 2026. |

  161. Outstanding Equity Awards at Fiscal Year-End Table

    | (7) Represents PSUs that are scheduled to vest in March 2026, assuming the performance criteria are met. The value was calculated based on achievement of target level performance conditions. |

  162. Outstanding Equity Awards at Fiscal Year-End Table

    | (8) Represents PSUs that are scheduled to vest in March 2027, assuming the performance criteria are met as described in “2024 Executive Compensation Program in Detail — Long-Term Equity Incentive Awards” under this Proposal 3. The value was calculated based on achievement of target level performance conditions. |

  163. Outstanding Equity Awards at Fiscal Year-End Table

    | 2025 PROXY STATEMENT | 62 | |

  164. Option Exercises and Stock Vested Table

    Option Exercises and Stock Vested Table The following table presents information concerning the number of shares acquired and the value realized during 2024 upon the exercise of stock options and the vesting of restricted stock and restricted stock units previously granted to each of the NEOs:

  165. Option Exercises and Stock Vested Table

    | | Option Awards | | Stock Awards | | | | | Name | Number of Shares Acquired on Exercise | Value Realized on Exercise(1) | Number of Shares Acquired on Vesting | Value Realized on Vesting(2) | Date Vested | Closing Price on Date Vested | | Kevin S. Kim Chairman, President & Chief Executive Officer | — | — | 25,047 | $269,756 | 3/15/2024 | $10.77 | | | — | — | 9,354 | $100,743 | 3/15/2024 | $10.77 | | | — | — | 22,707 | $250,458 | 3/22/2024 | $11.03 | | | — | — | 16,284 | $179,613 | 3/23/2024 | $11.03 | | | — | — | 13,916 | $152,102 | 5/19/2024 | $10.93 | | Julianna Balicka Chief Financial Officer | — | — | 5,000 | $54,800 | 4/27/2024 | $10.96 | | Kyu S. Kim Chief Commercial Banking Officer | — | — | 980 | $10,555 | 3/15/2024 | $10.77 | | | — | — | 2,627 | $28,293 | 3/15/2024 | $10.77 | | | — | — | 2,667 | $29,417 | 3/22/2024 | $11.03 | | | — | — | 3,772 | $41,605 | 3/22/2024 | $11.03 | | | — | — | 1,551 | $17,108 | 3/23/2024 | $11.03 | | | — | — | 2,559 | $28,226 | 3/23/2024 | $11.03 | | | — | — | 1,460 | $15,958 | 5/19/2024 | $10.93 | | Peter J. Koh Chief Operating Officer | — | — | 2,820 | $30,371 | 3/15/2024 | $10.77 | | | — | — | 1,054 | $11,352 | 3/15/2024 | $10.77 | | | — | — | 3,964 | $43,723 | 3/22/2024 | $11.03 | | | — | — | 3,171 | $34,976 | 3/22/2024 | $11.03 | | | — | — | 2,559 | $28,226 | 3/23/2024 | $11.03 | | | — | — | 1,758 | $19,391 | 3/23/2024 | $11.03 | | | — | — | 1,568 | $17,138 | 5/19/2024 | $10.93 | | Thomas P. Stenger Chief Risk Officer | — | — | 1,140 | $12,198 | 2/28/2024 | $10.70 | | | — | — | 2,724 | $29,337 | 3/15/2024 | $10.77 | | | — | — | 1,016 | $10,942 | 3/15/2024 | $10.77 | | | — | — | 2,450 | $27,024 | 3/22/2024 | $11.03 | | | — | — | 3,896 | $42,973 | 3/22/2024 | $11.03 | | | — | — | 1,602 | $17,670 | 3/23/2024 | $11.03 | | | — | — | 2,389 | $26,351 | 3/23/2024 | $11.03 | | | — | — | 1,514 | $16,548 | 5/19/2024 | $10.93 |

  166. Option Exercises and Stock Vested Table

    | (1) Values were determined by multiplying the number of stock options exercised by the difference between the closing market price per share of the Company’s Common Stock on the date of exercise and the stock option exercise price. |

  167. Option Exercises and Stock Vested Table

    | (2) Values were determined by multiplying the number of shares or units, as applicable, that vested by the closing market price per share of the Company’s Common Stock on the vesting date. |

  168. Option Exercises and Stock Vested Table

    | | 63 | 2025 PROXY STATEMENT |

  169. Non-Qualified Deferred Compensation Table

    Non-Qualified Deferred Compensation Table The following table presents information concerning deferred compensation during the fiscal year ended December 31, 2024. Kevin S. Kim and Kyu S. Kim currently are the only NEOs employed with the Company who participated in the Company’s legacy Long-Term Cash Incentive Plan (“Legacy LTIP”).

  170. Non-Qualified Deferred Compensation Table

    | Name | Executive Contributions in Last Fiscal Year | Registrant Contributions in Last Fiscal Year | Aggregate Earnings in Last Fiscal Year(1) | Aggregate Withdrawals/ Distributions | Aggregate Balance at Last Fiscal Year-End | | Kevin S. Kim(2) Chairman, President & Chief Executive Officer | — | — | $16,242 | — | $268,749 | | Kyu S. Kim(3) Chief Commercial Banking Officer | — | — | $21,724 | — | $359,464 |

  171. Non-Qualified Deferred Compensation Table

    | (1) The earnings on the employee deferred compensation plans are calculated based on the total amount of interest accrued on account balances during 2024. The above-market portion of these interest amounts in 2024, which amounted to $6,699 for Kevin S. Kim and $2,537 for Kyu S. Kim are reported in the “Executive Compensation Tables — Summary Compensation Table” under this Proposal 3. |

  172. Non-Qualified Deferred Compensation Table

    | (2) Kevin S. Kim became a Legacy LTIP participant in 2014. According to the terms of his individual Legacy LTIP agreement, Mr. Kim was entitled to have up to $50,000 per year, for a five-year period beginning in 2014 through 2018, credited to a deferred compensation account which accrues interest at an annual rate of 6.25%, to be paid out starting when he reaches 65 years of age. The agreement had a three-year vesting cliff of 50% of his total potential contribution amount plus accrued interest in his deferred compensation account, with an additional 25% of the total contributions plus accrued interest vesting in each of years four and five. |

  173. Non-Qualified Deferred Compensation Table

    | (3) Kyu S. Kim became a Legacy LTIP participant in 2008. According to the terms of her individual Legacy LTIP agreement, Ms. Kim was entitled to have up to $30,000 per year, for a ten-year period beginning in 2008 through 2017, credited to a deferred compensation account which accrues interest at an annual rate of 6.25%, to be paid out starting when she reaches 65 years of age. The agreement had a five-year vesting cliff of 50% of her total contribution amounts plus accrued interest in her deferred compensation account, with an additional 10% of the total contributions plus accrued interest vesting in each of years six through ten. |

  174. CEO Employment Agreement

    | Bonus | Non-Solicitation and Confidentiality Restriction | | | Annual Cash Bonus and Annual Equity Incentive | | Payments Upon Termination | | Cash Bonus. Eligible for annual bonus opportunity, with an initial target amount equal to 100% of Mr. Kim’s annual base salary in effect at the applicable time. Actual cash bonus payments will be determined in good faith by the Compensation Committee and are subject to achievement of certain annual performance criteria. Equity Incentive. Eligible for annual equity award with a grant date fair value of up to 150% of base salary, of which 50% of such annual equity awards will have service-based vesting conditions and the other 50% will have performance-based vesting conditions. The specific terms of any such equity award are determined at the discretion of the Compensation Committee. | Agreement provides for a non-solicitation restriction for a period of one-year following termination. In addition, Agreement requires certain information to remain confidential for an indefinite term. | Termination by the Company for Cause or by Mr. Kim without Good Reason. Entitled to receive all salary and other benefits earned or accrued, but unpaid through the date of termination (“Accrued Benefits”). In the event Mr. Kim’s employment is terminated due to death or disability, then all unvested awards granted to Mr. Kim will vest; provided that if any award is subject to performance vesting conditions that have not been met, then the awards shall automatically become fully vested at the target number of shares. Termination by the Company without Cause or by Mr. Kim with Good Reason. Entitled to receive: i. all Accrued Benefits; ii. severance of 150% of base salary (increases to 250% if termination occurs within one-year following a Change of Control); and iii. accelerated vesting of any previously issued equity awards (provided that any performance-based awards will only vest to the extent any applicable performance conditions of such award are satisfied). |

  175. Potential Payments Upon Termination of Employment or Change in Control

    Potential Payments Upon Termination of Employment or Change in Control The following table presents the estimated payments and benefits that each NEO would have been entitled to receive if his or her employment had terminated on December 31, 2024, for the various reasons specified in the table. Unless otherwise indicated, all amounts are payable in lump sums.

  176. Potential Payments Upon Termination of Employment or Change in Control

    | | Cash Severance Arrangements/ Compensation | Acceleration of Unvested Options and Stock Awards(1) | Total Termination Benefits | | Kevin S. Kim(2) | | | | | Voluntary Termination or Retirement | — | — | — | | Involuntary Termination (other than For Cause) | $1,650,000 | $3,755,038 | $5,405,038 | | Involuntary Termination (For Cause) | — | — | — | | Termination in Connection with Change in Control | $2,750,000 | $3,755,038 | $6,505,038 | | Death | — | $3,755,038 | $3,755,038 | | Disability | — | $3,755,038 | $3,755,038 | | Julianna Balicka | | | | | Voluntary Termination or Retirement | — | — | — | | Involuntary Termination (other than For Cause) | — | — | — | | Involuntary Termination (For Cause) | — | — | — | | Termination in Connection with Change in Control | — | $458,200 | $458,200 | | Death | — | $458,200 | $458,200 | | Disability | — | $458,200 | $458,200 | | Kyu S. Kim | | | | | Voluntary Termination or Retirement | — | — | — | | Involuntary Termination (other than For Cause) | — | — | — | | Involuntary Termination (For Cause) | — | — | — | | Termination in Connection with Change in Control | — | $525,431 | $525,431 | | Death | — | $525,431 | $525,431 | | Disability | — | $525,431 | $525,431 | | Peter J. Koh | | | | | Voluntary Termination or Retirement | — | — | — | | Involuntary Termination (other than For Cause) | — | — | — | | Involuntary Termination (For Cause) | — | — | — | | Termination in Connection with Change in Control | — | $601,433 | $601,433 | | Death | — | $601,433 | $601,433 | | Disability | — | $601,433 | $601,433 |

  177. Potential Payments Upon Termination of Employment or Change in Control

    | 2025 PROXY STATEMENT | 66 | |

  178. Potential Payments Upon Termination of Employment or Change in Control

    | | Cash Severance Arrangements/ Compensation | Acceleration of Unvested Options and Stock Awards(1) | Total Termination Benefits | | Thomas P. Stenger | | | | | Voluntary Termination or Retirement | — | — | — | | Involuntary Termination (other than For Cause) | — | — | — | | Involuntary Termination (For Cause) | — | — | — | | Termination in Connection with Change in Control | — | $486,829 | $486,829 | | Death | — | $486,829 | $486,829 | | Disability | — | $486,829 | $486,829 |

  179. Potential Payments Upon Termination of Employment or Change in Control

    | (1) As of December 31, 2024, awards granted to the NEOs under the 2016 Plan, 2019 Plan and the 2024 Plan (collectively, “Plans”) allow for accelerated vesting of all stock options, restricted stock and performance units only upon a Change in Control (as such term is defined in the Plans). This calculation assumes that each NEO’s restricted stock, restricted stock units and performance-based restricted stock units were paid out in stock (with respect to performance-based restricted stock units, assuming target-level performance) at the closing price on December 31, 2024, of $12.29 per share, and that unvested stock options were paid out in the amount of the difference between the stock closing price on December 31, 2024, of $12.29 per share, and the option exercise price. All stock options held by the NEOs at December 31, 2024, have exercise prices that are higher than $12.29, so no value is attributable to those stock options for purposes of this table. |

  180. Potential Payments Upon Termination of Employment or Change in Control

    | (2) Pursuant to the terms of the CEO Employment Agreement, which is more fully described above, cash severance is payable to Kevin S. Kim if termination occurs within one year following a Change of Control, as such term is defined in the CEO Employment Agreement. In addition, the CEO Employment Agreement provides for accelerated vesting of awards upon death or disability. |

  181. CEO to Median Employee Pay Ratio

    CEO to Median Employee Pay Ratio Below is (i) the 2024 total annualized compensation of Kevin S. Kim, our Chairman, President and Chief Executive Officer, as reported in this Proxy Statement; (ii) the 2024 annual total compensation of our median employee; (iii) the ratio of the annual total compensation of our Chief Executive Officer to that of our median employee; and (iv) the methodology we used to calculate our Chief Executive Officer pay ratio:

  182. CEO to Median Employee Pay Ratio

    | CEO Total Compensation | $3,314,768 | | Median Employee Annual Total Compensation | $73,454 | | CEO to Median Employee Pay Ratio | 45:1 |

  183. CEO to Median Employee Pay Ratio

    Our Chief Executive Officer pay ratio is a reasonable estimate calculated in a manner consistent with SEC rules. Our methodology and process is explained below:

  184. CEO to Median Employee Pay Ratio

    | ● | Determination of Employee Population. We determined that, as of December 31, 2024, our total employee population consisted of 1,264 individuals, consisting of full-time, part-time, and/or temporary workers, employed by the Company and the Bank. |

  185. CEO to Median Employee Pay Ratio

    | ● | Identification of the Median Employee. We identified our median employee using the federal taxable income reported for that measurement period in Box 1 of Form W-2 for each employee. We chose Form W-2 because our employee population consisted solely of U.S. employees, and this compensation measure applies to all U.S. employees, allowing for accessibility and broad comparability. No full-time equivalent adjustments were made for part-time employees. |

  186. CEO to Median Employee Pay Ratio

    | ● | Calculation of Chief Executive Officer Pay Ratio. We calculated our median employee’s annual total compensation for 2024 according to the SEC’s instructions for preparing the “Summary Compensation Table”. We then calculated Mr. Kim’s total compensation for 2024 using the same approach to determine the pay ratio shown above. |

  187. CEO to Median Employee Pay Ratio

    The SEC’s rules for identifying the median compensated employee and calculating the pay ratio based on that employee’s annual total compensation allow companies to adopt a variety of methodologies, to apply certain exclusions, and to make reasonable estimates and assumptions that reflect their compensation practices. As such, the pay ratio reported by other companies may not be comparable to the pay ratio reported above, as other companies may have different employment and compensation practices and may utilize different methodologies, exclusions, estimates and assumptions in calculating their own pay ratios.

  188. CEO to Median Employee Pay Ratio

    | | 67 | 2025 PROXY STATEMENT |

  189. Pay Versus Performance Disclosure

    Pay Versus Performance Disclosure In accordance with rules adopted by the SEC pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, we provide the following disclosure regarding SEC-defined executive “compensation actually paid” (“CAP”) for the fiscal years listed below in a pay versus performance (“PVP”) table. The PVP table shows CAP for Kevin S. Kim, our President & Chief Executive Officer, who has been identified the principal executive officer (“PEO”) and the average CAP for our other NEOs. Also as required by the SEC, this section compares CAP to various measures used to gauge performance at the Company. You should refer to our CD&A for a complete description of how executive compensation relates to Company performance and how the Compensation Committee makes its decisions. Compensation decisions are made independently of disclosure requirements.

  190. Pay Versus Performance Table – Compensation Definitions

    Pay Versus Performance Table – Compensation Definitions Salary, Bonus, Non-Equity Incentive Plan Compensation and All Other Compensation are each calculated in the same manner for purposes of both CAP and “Summary Compensation Table” (“SCT”) values. The primary difference between the calculation of CAP and SCT total compensation is the calculation of the value of “Stock Awards” and “Option Awards,” with the differences in how these awards are valued for purposes of SCT total and CAP described in the footnotes below.

  191. Pay Versus Performance Table

    Pay Versus Performance Table

  192. Pay Versus Performance Table

    | | | | | | Value of Initial Fixed $100 Investment Based on: | | | | | Year (1) | Summary Compensation Table total for PEO | Compensation actually paid to PEO (2)(3) | Average summary compensation table total for non-PEO NEOs (2) | Average compensation actually paid to non-PEO NEOs (2) | Total Stockholder Return | Peer Group Total Stockholder Return (3) | Net Income (in millions) | EPS | | 2024 | $3,314,768 | $2,790,672 | $871,273 | $801,150 | $106 | $131 | $100 | $0.82 | | 2023 | $3,007,465 | $2,127,017 | $725,042 | $664,419 | $99 | $116 | $134 | $1.11 | | 2022 | $3,560,324 | $3,098,642 | $776,244 | $710,168 | $99 | $116 | $218 | $1.81 | | 2021 | $3,356,442 | $3,886,346 | $872,446 | $996,037 | $110 | $125 | $205 | $1.66 | | 2020 | $2,823,802 | $2,122,078 | $822,295 | $670,951 | $78 | $91 | $112 | $0.90 |

  193. Pay Versus Performance Table

    | (1) The PEO and non-PEO NEOs are each indicated in the table below for each fiscal year. |

  194. Pay Versus Performance Table

    | Year | PEO | Non-PEO NEOs | | 2024 | Kevin S. Kim | Julianna Balicka, Kyu S. Kim, Peter Koh, Thomas P. Stenger | | 2023 | Kevin S. Kim | Julianna Balicka, Kyu S. Kim, Peter Koh, Thomas P. Stenger. David P. Malone, Alex Ko | | 2022 | Kevin S. Kim | Kyu S. Kim, Peter J. Koh, Thomas P. Stenger, Alex Ko | | 2021 | Kevin S. Kim | Kyu S. Kim, Thomas P. Stenger, David P. Malone, Alex Ko | | 2020 | Kevin S. Kim | Kyu S. Kim, Thomas P. Stenger, David P. Malone, Alex Ko |

  195. Pay Versus Performance Table

    | 2025 PROXY STATEMENT | 68 | |

  196. Pay Versus Performance Table

    | (2) Amounts represent compensation actually paid to our PEO and the average compensation actually paid to our remaining NEOs for the relevant fiscal year, as determined under SEC rules (and described below). The CAP was calculated beginning with the PEO’s “Summary Compensation Table” total, and the average of the Non-PEO NEOs “Summary Compensation Table” total, with the following amounts being added or deducted from the applicable total compensation: |

  197. Pay Versus Performance Table

    | Adjustments from Summary Compensation Table | | Deduction for amounts reported under the “Stock Awards” column in the “Summary Compensation Table” (a) | Increase based on fair value of awards granted during the covered fiscal year that remain unvested as of year-end, determined as of year- end (b) | Increase based on fair value of awards granted during the covered fiscal year that vested during the year, determined as of the vesting date (b) | Increase (deduction) for change in fair value from prior year-end to current year-end of awards granted prior to year that were outstanding and unvested as of year-end of covered fiscal year (b) | Increase (deduction) for change in fair value from prior-year end to vesting date of awards granted prior to covered fiscal year that vested during the covered fiscal year (b) | Total Adjustments | | PEO | 2024 | $(1,604,158) | $1,291,614 | — | $(109,553) | $(101,999) | $(524,096) | | | 2023 | $(1,234,428) | $967,339 | $1,003 | $(297,917) | $(316,445) | $(880,448) | | | 2022 | $(1,428,155) | $1,224,340 | — | $(287,720) | $29,852 | $(461,683) | | | 2021 | $(1,293,088) | $1,359,961 | — | $207,858 | $255,172 | $529,903 | | | 2020 | $(1,134,628) | $1,447,187 | — | $(748,484) | $(265,799) | $(701,724) | | Non-PEO NEOs | 2024 | $(246,086) | $198,142 | — | $(6,917) | $(15,260) | $(70,121) | | | 2023 | $(164,274) | $170,363 | $1,001 | $(22,404) | $(45,308) | $(60,622) | | | 2022 | $(232,490) | $193,821 | $374 | $(37,420) | $9,639 | $(66,076) | | | 2021 | $(265,504) | $270,365 | — | $48,129 | $70,600 | $123,590 | | | 2020 | $(239,245) | $279,249 | — | $(136,321) | $(55,027) | $(151,344) |

  198. Pay Versus Performance Table

    | (a) Reflects the deduction of the aggregate grant date fair value of equity-based awards granted each year as reported in the Stock Awards column of the SCT for the applicable year, calculated in accordance with FASB ASC Topic 718. We did not grant any option awards during these years, so no deductions were made under the Stock Option column of the SCT. In addition, we do not sponsor or maintain any defined benefit pension plans and, therefore, no deduction was made related to pension value. Finally, certain performance awards granted in prior fiscal years failed to meet applicable vesting conditions during the applicable fiscal years, which is reflected in the adjustments. |

  199. Pay Versus Performance Table

    | (b) The fair value of stock awards was based on the closing price of the Company’s Common Stock at the relevant year-end or vesting dates and projected payout amounts based on expected performance ranging from 0%, threshold, target or maximum amounts of 150%. The closing price of the Company’s Common Stock on December 31, 2024, 2023, 2022, 2021 and 2020, was $12.29, $12.08, $12.81, $14.71 and $10.91, respectively. With regards to the fair value of each LTIP performance based relative TSR award, the value of the shares and probable vesting was determined assuming the most probable outcome achieved using the Monte-Carlo simulation model, as well as projected payout amounts based on expected performance ranging from 0%, threshold, target or maximum amount of 150%. The below chart shows the fair value at December 31, 2024, 2023, 2022, 2021 and 2020, based on the Monte Carlo simulation model, as well as the grant date fair values based on the model: |

  200. Pay Versus Performance Table

    | | Fair Value as of December 31 | | | | | Fair Value as of Grant Date | | Description of Award | 2024 | 2023 | 2022 | 2021 | 2020 | | | 2024 LTIP (Performance-Based Relative TSR) | $9.01 | N/A | N/A | N/A | N/A | $11.28 | | 2023 LTIP (Performance-Based Relative TSR) | $8.45 | $10.60 | N/A | N/A | N/A | $8.21 | | 2022 LTIP (Performance-Based Relative TSR) | $12.29 | $10.17 | $10.02 | N/A | N/A | $17.21 | | 2021 LTIP (Performance-Based Relative TSR) | N/A | $12.08 | $12.77 | $15.78 | N/A | $16.09 | | 2020 LTIP (Performance-Based Relative TSR) | N/A | N/A | $12.81 | $11.60 | $7.86 | $5.77 |

  201. Pay Versus Performance Table

    | (3) The total stockholder return was determined using a $100 investment on December 31, 2019 and includes stock price appreciation, plus reinvested dividends as of December 31, 2020, and valued again on each of December 31, 2021, 2022, 2023 and 2024. The peer group total stockholder return was calculated in the same manner (which includes stock price appreciation, plus reinvested dividends) based on the cumulative total return of the KBW Nasdaq Regional Banking Index. |

  202. Pay Versus Performance Table

    | | 69 | 2025 PROXY STATEMENT |

  203. Pay Versus Performance: Graphical Description

    Pay Versus Performance: Graphical Description The illustrations below provide a graphical description of CAP (as calculated in accordance with the SEC rules) and the following measures:

  204. Pay Versus Performance: Graphical Description

    | ● | the Company’s cumulative TSR and the Peer Group’s cumulative TSR; |

  205. Pay Versus Performance: Graphical Description

    | ● | the Company’s Net Income; and |

  206. Pay Versus Performance: Graphical Description

    | ● | the Company Selected Measure, which for the Company is EPS |

  207. Pay Versus Performance: Graphical Description

    | 2025 PROXY STATEMENT | 70 | |

  208. Pay Versus Performance: Graphical Description

    | | 71 | 2025 PROXY STATEMENT |

  209. Actions Required if any Director Nominee Does Not Receive the Required Majority Vote

    Actions Required if any Director Nominee Does Not Receive the Required Majority Vote Our directors are elected by a plurality-plus voting standard coupled with a mandatory resignation policy for director nominees who fail to achieve an affirmative majority of votes cast for election. Under this policy, if a director nominee for election (or re-election) as director in an uncontested election does not receive at least a majority of the votes cast at any meeting called for, among other things, the election of directors, at which a quorum has been confirmed, the director, duly elected in accordance with the requirements of the DGCL, shall promptly (and in any event within two business days following the election) tender his or her resignation from the Board (conditioned upon acceptance by the Board) to the Chair of the Nomination Committee with a copy to the Chairman of the Board. In the event that any director does not tender his or her conditional resignation in accordance with this policy, he or she will not be re-nominated by the Board for re-election at the next annual meeting.

  210. Actions Required if any Director Nominee Does Not Receive the Required Majority Vote

    | | 79 | 2025 PROXY STATEMENT |