| Hope Bancorp Receives Regulatory Approvals for Its Merger With Territorial Bancorp |
LOS ANGELES & HONOLULU--(BUSINESS WIRE)--Hope Bancorp, Inc. (“Hope Bancorp”) (NASDAQ: HOPE), the holding company of Bank of Hope, and Territorial Bancorp Inc. (“Territorial”) (NASDAQ: TBNK), the holding company of Territorial Savings Bank, today jointly announced receipt of all required regulatory approvals to complete their previously announced merger (the “Merger”). Upon completion of the Merger, it is intended that the legacy Territorial franchise in Hawai‘i will operate under the trade name. |
businesswire.com |
2025-03-03 10:30:00 |
Czytaj oryginał (ang.) |
| Territorial Bancorp Inc. Announces Fourth Quarter 2024 Results |
HONOLULU, Jan. 31, 2025 (GLOBE NEWSWIRE) -- Territorial Bancorp Inc. (NASDAQ: TBNK) (the Company), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, reported a net loss of $1.72 million, or $0.20 per diluted share, for the three months ended December 31, 2024. Results reflect $1.53 million of pre-tax merger-related expenses. |
globenewswire.com |
2025-01-31 18:30:00 |
Czytaj oryginał (ang.) |
| Territorial Bancorp Shareholders Approve Hope Bancorp Merger |
HONOLULU, Nov. 06, 2024 (GLOBE NEWSWIRE) -- Territorial Bancorp Inc. (NASDAQ: TBNK) (“Territorial” or the “Company”) announced that its shareholders voted to approve the Company's proposed merger with Hope Bancorp, Inc. (“Hope Bancorp”) (NASDAQ: HOPE) at the Special Meeting of Territorial Stockholders held today. |
globenewswire.com |
2024-11-06 16:15:00 |
Czytaj oryginał (ang.) |
| Blue Hill Advisors to Territorial Shareholders: No Risk to Territorial if Board Engages with Us |
Hope Cannot Walk Away if Board Allows Investors to Perform Due Diligence Hope Can Only Walk Away if Board Changes Recommendation or Breaches Merger Agreement Calls on Board to Exercise Risk-Free Option to Explore Potentially Superior Offer Encourages Territorial Shareholders to Force Another Postponement by Voting AGAINST Hope Sale Again at the Adjourned Special Meeting of Stockholders on November 6, 2024 Responds to Illogical Board Excuses for not Engaging with Investors HONOLULU , Oct. 29, 2024 /PRNewswire/ -- Blue Hill Advisors today issued the following open letter to shareholders of Territorial Bancorp Inc. ("Territorial" or the "Company") (NASDAQ: TBNK). Dear Fellow Territorial Shareholders, Territorial's Board of Directors has flooded you with materials urging you to support the Company's proposed sale to Hope Bancorp, Inc. ("Hope") (NASDAQ: HOPE) and dismiss our proposal. |
prnewswire.com |
2024-10-29 15:43:00 |
Czytaj oryginał (ang.) |
| Territorial Bancorp Inc. Announces Third Quarter 2024 Results |
HONOLULU, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Territorial Bancorp Inc. (NASDAQ: TBNK) (the Company), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, reported a net loss of $1,318,000, or $0.15 per diluted share, for the three months ended September 30, 2024. |
globenewswire.com |
2024-10-28 09:30:00 |
Czytaj oryginał (ang.) |
| Investors Behind Territorial Proposal Advance Offer with Detailed Disclosure to Board |
Confidentially Provide Information Detailing Financial Wherewithal, Regulatory Experience and Oversubscribed Investor Interest Reduce Minimum Tender Requirement from 70% to 51% Call on Board to Recognize that Offer is "Reasonably Likely to Lead to a Superior Proposal" Remind Shareholders That Board Has Failed to Justify Territorial's Sale to Hope Urge Territorial Shareholders to Vote AGAINST Hope Sale Again at the Adjourned Special Meeting of Stockholders on November 6, 2024 HONOLULU , Oct. 25, 2024 /PRNewswire/ -- Investors behind a proposal submitted on August 26 to the Board of Directors (the "Board") of Territorial Bancorp Inc. ("Territorial" or the "Company") (NASDAQ: TBNK) have disclosed information about themselves in an addendum sent to Territorial's outside counsel today (the "Addendum"). The investors have offered repeatedly since late August to engage with the Board and advance their proposal toward a binding agreement that they believe will be better for all Territorial stakeholders. |
prnewswire.com |
2024-10-25 22:51:00 |
Czytaj oryginał (ang.) |
| Leading Independent Proxy Advisory Firm Glass Lewis Joins ISS in Recommending that Territorial Shareholders Vote “FOR” Merger with Hope Bancorp |
Glass Lewis Recognizes the Value Creation and Additional Upside that the Hope Bancorp Merger Provides to Territorial Shareholders |
globenewswire.com |
2024-10-25 11:30:00 |
Czytaj oryginał (ang.) |
| Yakira Capital Refutes Territorial Bancorp's Board of Directors' Public Concerns Related to Acquisition Offer from Blue Hill Advisors |
Board of Directors Continues its Refusal to Consider a Superior Offer from Blue Hill Advisors, Potentially Breaching their Fiduciary Duty WESTPORT, Conn. , Oct. 24, 2024 /PRNewswire/ -- Yakira Capital Management, an investment manager based in Westport, CT, has been compelled to issue an additional public response regarding Territorial Bancorp's (NASDAQ: TBNK) Board of Directors' rejection to consider a superior acquisition offer from the Blue Hill Advisors consortium, in favor of a merger with Hope Bancorp "Hope" (NASDAQ: HOPE). |
prnewswire.com |
2024-10-24 12:02:00 |
Czytaj oryginał (ang.) |
| Leading Independent Proxy Advisory Firm ISS Issues New Recommendation in Support of Territorial/Hope Bancorp Combination |
ISS Recommends Territorial Shareholders Vote “FOR” Hope Bancorp Transaction ISS Recognizes Value Creation Upside of the Hope Bancorp Merger and Risks and Uncertainty Associated with Blue Hill's Preliminary Indication of Interest Territorial Board Urges Shareholders to Follow ISS's Recommendation and Vote “FOR” the Hope Bancorp Merger Today HONOLULU, Oct. 21, 2024 (GLOBE NEWSWIRE) -- Territorial Bancorp Inc. (NASDAQ: TBNK) (“Territorial” or the “Company”) today announced that leading independent proxy advisory firm Institutional Shareholder Services (“ISS”) has reissued its report assessing Territorial's proposed merger with Hope Bancorp, Inc. (NASDAQ: HOPE) (“Hope Bancorp”). In its report, ISS recommends that Territorial shareholders vote “FOR” the Company's pending merger with Hope Bancorp at the Special Meeting on November 6, 2024, at 8:30 a.m. |
globenewswire.com |
2024-10-21 11:00:00 |
Czytaj oryginał (ang.) |
| Blue Hill Advisors and Investors Reaffirm Commitment to Territorial Transaction; Will Stand by Offer if Hope Deal Terminates |
Reiterate Desire to Engage Directly with the Board, Not in a Public Fight Commit to Completing Transaction on the Same Proposed Terms if Sale to Hope Terminates Urge Territorial Shareholders to Vote AGAINST Hope Sale Again at the Adjourned Special Meeting of Stockholders on November 6, 2024 HONOLULU , Oct. 17, 2024 /PRNewswire/ -- Former Hawaii banking executive Allan Landon, Blue Hill Advisors and other leading bank investors today reaffirmed their commitment to successfully completing a transaction with Territorial Bancorp Inc. ("Territorial" or the "Company") (NASDAQ: TBNK) and clarified their intent to stand by their offer if shareholders vote down the proposed sale to Hope Bancorp, Inc. ("Hope") (NASDAQ: HOPE) at the adjourned Special Meeting of Stockholders on November 6. Mr. Landon and the investors, which also include O'Brien-Staley Partners and veteran bank investor Mark Lynch, have favored a collaborative approach with Territorial's Board of Directors (the "Board"). |
prnewswire.com |
2024-10-17 19:38:00 |
Czytaj oryginał (ang.) |
| Territorial Bancorp Says Blue Hill Has Provided No Basis to Deem Its Preliminary Indication of Interest Superior |
No Proof of Committed Financing and/or Information to Validate Its Claims that a Transaction Could Receive Regulatory Approval and Be Completed |
globenewswire.com |
2024-10-16 12:30:00 |
Czytaj oryginał (ang.) |
| Blue Hill Doubles Down on Cloak of Secrecy and Unanswered Questions |
Blue Hill's Inability to Address Questions About How It Would Pay for or Complete an Acquisition Further Adds to Uncertainty, Risk and Doubt About Its Preliminary Indication of Interest |
globenewswire.com |
2024-10-09 21:02:00 |
Czytaj oryginał (ang.) |
| Blue Hill Advisors and Investors Reiterate Superior Proposal for Territorial Bancorp and Refute Territorial's Assertions |
Reaffirm Commitment to Superior $12.50 Per Share Cash Offer for Territorial Correct the Record on Board's Misleading Claims About the Hope Merger and Investor Proposal Call on Shareholders to Remain Opposed to Merger with Hope as Board Refuses to Engage Toward Better Offer Provide Updated Shareholder Presentation HONOLULU , Oct. 9, 2024 /PRNewswire/ -- Blue Hill Advisors and former Hawaii banking executive Allan Landon today reiterated their previously announced superior $12.50 per share cash offer for Territorial Bancorp Inc. ("Territorial" or the "Company") (NASDAQ: TBNK) and corrected the record on Territorial's numerous assertions regarding the proposed merger with Hope Bancorp, Inc. ("Hope") (NASDAQ: HOPE) and the investor proposal. They also provided an updated presentation urging Territorial shareholders to remain unreservedly opposed to the "merger" between Territorial and Hope, a transaction which carries the second lowest valuation of an announced bank merger since 1983 and came after Territorial shareholders bore a nearly 70% decrease in value over five years. |
prnewswire.com |
2024-10-09 14:31:00 |
Czytaj oryginał (ang.) |
| Territorial Bancorp Urges Shareholders to Vote FOR Hope Bancorp Merger |
Compelling Combination with Hope Bancorp Creates Substantial Value for All Territorial Shareholders and Significant Benefits for Hawai‘i and Territorial Customers, Employees and Communities |
globenewswire.com |
2024-10-07 12:30:00 |
Czytaj oryginał (ang.) |
| Territorial Bancorp Postpones Special Meeting of Stockholders |
Postponement Provides Additional Time for Territorial Board and Management to Engage with Territorial Stockholders Regarding Hope Bancorp Merger Postponement Provides Additional Time for Territorial Board and Management to Engage with Territorial Stockholders Regarding Hope Bancorp Merger |
globenewswire.com |
2024-10-04 13:00:00 |
Czytaj oryginał (ang.) |
| Blue Hill Advisors Announces ISS Recommendation AGAINST Territorial Bancorp Merger with Hope Bancorp |
Concludes that Proposed Merger with Hope "Does Not Appear to Maximize Value for Shareholders" Competing Offer "Appears Sufficiently Credible to Mitigate the Downside Risk of Rejecting the Proposed Merger" Recommends Territorial Shareholders Vote Against All Proposals at the Upcoming Special Meeting HONOLULU , Oct. 1, 2024 /PRNewswire/ -- Blue Hill Advisors LLC ("Blue Hill") and former Hawaii banking executive Allan Landon today announced that Institutional Shareholder Services Inc. ("ISS"), a leading independent proxy advisory firm, has recommended that shareholders of Territorial Bancorp Inc. ("Territorial" or the "Company") (NASDAQ: TBNK) vote AGAINST the proposed merger between Territorial and Hope Bancorp, Inc. ("Hope") (NASDAQ: HOPE) at the Company's Special Meeting of Stockholders on October 10, 2024. In its report, ISS concludes that Hope's takeover of Territorial is not in the best interest of the Company's shareholders:1 "Given the lack of a robust sales process, the fact that the merger agreement restrictions accepted by the board limit its ability to engage with a competing bidder, and the improved outlook for financial institutions, the proposed merger with HOPE does not appear to maximize value for shareholders. |
prnewswire.com |
2024-10-01 19:43:00 |
Czytaj oryginał (ang.) |
| Territorial Bancorp Board Reaffirms Its Commitment to Proposed Merger with Hope Bancorp |
Again Rejects Blue Hill Proposal as Remaining Highly Uncertain, Inferior to Hope Merger Agreement and Unlikely to Benefit Territorial Shareholders Again Rejects Blue Hill Proposal as Remaining Highly Uncertain, Inferior to Hope Merger Agreement and Unlikely to Benefit Territorial Shareholders |
globenewswire.com |
2024-09-30 13:00:00 |
Czytaj oryginał (ang.) |
| Blue Hill Advisors Announces Increased Cash Offer for Territorial Bancorp |
Raises Cash Offer from $12.00 to $12.50, a 27% Premium to the Value of the Hope Takeover Releases Presentation: "A Better Deal for Territorial" Launches www.NewTerritorial.com to Keep Stakeholders Informed of the Latest Developments HONOLULU , Sept. 26, 2024 /PRNewswire/ -- Blue Hill Advisors LLC ("Blue Hill") and former Hawaii banking executive Allan Landon today announced an increased cash offer for Territorial Bancorp Inc. ("Territorial" or the "Company") (NASDAQ: TBNK) from $12.00 per share to $12.50 per share. |
prnewswire.com |
2024-09-26 16:31:00 |
Czytaj oryginał (ang.) |
| Territorial Bancorp Reaffirms Its Board's Commitment to Proposed Merger with Hope Bancorp |
Rejects Blue Hill Proposal as Highly Uncertain, Inferior to Hope Merger Agreement and Unlikely to Benefit Territorial Shareholders Rejects Blue Hill Proposal as Highly Uncertain, Inferior to Hope Merger Agreement and Unlikely to Benefit Territorial Shareholders |
globenewswire.com |
2024-09-19 20:30:00 |
Czytaj oryginał (ang.) |
| Blue Hill Advisors and Other Leading Bank Investors Reiterate Commitment to Superior Cash Offer for Territorial Bancorp |
Territorial Shareholders Would Receive $12.00 Per Share in Cash, a 29% Premium1 Strong Capital Support from Veteran Bank Funds Exceeds Required Capital Territorial Would Remain a Hawaii Institution Under Local Hawaii Leadership HONOLULU , Sept. 17, 2024 /PRNewswire/ -- Blue Hill Advisors LLC and other leading bank investors today reiterated their commitment to a $12.00 per share cash offer for Territorial Bancorp Inc. ("Territorial" or the "Company") (NASDAQ: TBNK) which also allows for up to 30% of existing holders to continue as shareholders and participate in the bank's recovery under new leadership. |
prnewswire.com |
2024-09-17 13:15:00 |
Czytaj oryginał (ang.) |
| Territorial Bancorp (TBNK) Reports Q2 Loss, Lags Revenue Estimates |
Territorial Bancorp (TBNK) came out with a quarterly loss of $0.09 per share versus the Zacks Consensus Estimate of a loss of $0.03. This compares to earnings of $0.17 per share a year ago. |
zacks.com |
2024-07-26 22:40:47 |
Czytaj oryginał (ang.) |
| Territorial Bancorp Inc. Announces Second Quarter 2024 Results |
HONOLULU, Hawaii, July 26, 2024 (GLOBE NEWSWIRE) -- Territorial Bancorp Inc. (NASDAQ: TBNK) (the Company), headquartered in Honolulu, Hawaii, the holding company parent of Territorial Savings Bank, announced a net loss of $775,000, or $(0.09) per diluted share, for the three months ended June 30, 2024. |
globenewswire.com |
2024-07-26 20:30:00 |
Czytaj oryginał (ang.) |