Territorial Bancorp reaffirms recommendation shareholders vote ‘FOR’ merger

Territorial Bancorp (TBNK) announced that the Company’s Board of Directors has reaffirmed its recommendation that Territorial shareholders vote “FOR” the merger with Hope Bancorp, (HOPE) at the November 6, 2024, Special Meeting of Stockholders. On October 25, 2024, Territorial received additional information from Blue Hill Advisors with respect to its preliminary indication of interest to acquire the Company. Territorial’s Board of Directors, with the assistance of its legal and financial advisors, over the course of several meetings, carefully reviewed this information in accordance with its fiduciary duties, its commitment to serving the best interests of all Territorial shareholders and its obligations under Territorial’s merger agreement with Hope Bancorp.