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State: 17.08.2024 | 11PM
Tue, 17.09.2024       Hope Bancorp
US43940T1097

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. The proposal, which was delivered on August 26, 2024 by former Hawaii banking executive Allan Landon as an alternative to Territorial's planned merger with Hope Bancorp, Inc. ("Hope") (NASDAQ: HOPE), values Territorial at a 29% premium to Territorial's closing price on the Nasdaq on September 12, 20241 and at a 70% premium to Territorial's closing price on the Nasdaq one day prior to the Hope merger announcement.

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