Bank of Hope is closing two more branches, this time in Virginia.
The bank has signed a memorandum of understanding with PromiseOne Bank, a Korean-American bank based in Atlanta, Georgia, to sell its Annandale and Centreville, Virginia, branches. The sale process is currently underway and is expected to be completed in the second half of this year, according to the bank.
“The terms of the acquisition include a transition of employment for the branch employees,” said Inyoung Park, senior vice president and marketing manager at Bank of Hope. “We expect minimal disruption to our customer service as existing employees will continue to provide banking services after the transition.”
Last month, Bank of Hope closed four California branches – Wilshire/Manhattan, Maple, Huntington Park, and Oakland – as well as branches in Chicago, Glenview, Illinois, and Dallas-Fort Worth, Texas.
Once the Virginia branch deal is finalized, Bank of Hope will have 48 branches in nine states, up from 46 in eight states.
BY JAESUN SUH, HOONSIK WOO [suh.jaesun@koreadaily.com]
