We are advising SMBC MANUBANK on the transaction

Davis Polk is advising Sumitomo Mitsui Banking Corporation MANUBANK (SMBC MANUBANK) on the sale of its commercial banking unit to Bank of Hope, the bank subsidiary of Hope Bancorp, Inc. The transaction is expected to close in the second half of 2026, subject to customary regulatory approvals and the satisfaction of other customary closing conditions.

Founded in 1962, SMBC MANUBANK is a California state-chartered commercial bank based in Los Angeles and is a wholly owned subsidiary of SMBC Americas Holdings, Inc., a member of SMBC Group. SMBC MANUBANK serves the specialized needs of middle-market businesses, manufacturers, wholesalers, distributors, importers, exporters and service companies. Headquartered in Los Angeles, California, Bank of Hope offers a comprehensive range of commercial, corporate and consumer banking products and services. With $18.53 billion in total assets as of December 31, 2025, Bank of Hope operates 45 full-service branches in California, New York, New Jersey, Washington, Texas, Illinois, Alabama and Georgia under the Bank of Hope banner, and 29 branches in Hawaii under the Territorial Savings banner.

The Davis Polk financial institutions M&A team includes partners Luigi L. De Ghenghi, Lee Hochbaum and Eric McLaughlin, counsel Sašo Kraner and associates Russell Quarles and Narda Esther Vasquez Arancibia. Partner William A. Curran is providing tax advice. Partner Kyoko Takahashi Lin and counsel Christina Andersen are providing executive compensation advice. Partner Pritesh P. Shah and associate Lachlan J. Forrester are providing intellectual property advice. All members of the Davis Polk team are based in the New York office.

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