Hope Bancorp Inc (NASDAQ: HOPE) stock lost over 6% on October 17th, 2018 (As of 10:58 AM GMT-4; Source: Google finance) after the company posted mixed results in the third quarter of FY 19.The provision for loan and lease losses for the 2018 third quarter was $7.3 million, compared with $2.3 million for the immediately preceding 2018 second quarter and $5.4 million for the year-ago third quarter. For the 2018 third quarter, the company has recorded net charge offs of $6.6 million, or 0.22% of average loans receivable on an annualized basis, primarily attributed to the charge off of one large relationship that was fully reserved for in a prior quarter. This compares with net recoveries of $1.1 million, or 0.04% of average loans receivable on an annualized basis, for the 2018 second quarter. In the 2017 third quarter, the Company recorded net charge offs of $1.8 million, or 0.07% of average loans receivable on an annualized basis.

Net income for the 2018 third quarter totaled $46.4 million compared with net income for the second quarter of $47.5 million. Loans receivable increased 2% to $11.9 billion at September 30, 2018 from $11.67 billion at June 30, 2018, reflecting a 9% annualized growth rate. Year-over-year, loans receivable increased 9% from $10.96 billion at September 30, 2017. New loan originations funded during the 2018 third quarter totaled $784.1 million and included SBA loan production of $71.4 million and residential mortgage loan originations of $165.6 million. This compares with 2018 second quarter originations of $792.3 million, including SBA loan production of $87.0 million and residential mortgage loan originations of $182.1 million. In the year-ago third quarter, new loan originations funded totaled $610.9 million, including SBA loan production of $67.9 million and residential mortgage loan originations of $119.9 million.

HOPE in the third quarter of FY 19 has reported the adjusted earnings per share of 36 cents, which is in line with the analysts’ estimates for the adjusted earnings per share of 36 cents. The company had reported the adjusted revenue of $136.6 million in the in the third quarter of FY 19, missing the analysts’ estimates for revenue of $140.9 million. Further, Net interest income before provision for loan losses for the 2018 third quarter totaled $123.1 million, compared with $122.8 million in the 2018 second quarter and $123.3 million in the year-ago third quarter. The net interest margin (net interest income divided by average interest earning assets) for the 2018 third quarter declined 14 basis points to 3.47% from 3.61% in the preceding 2018 second quarter, reflecting the impact of higher deposit costs and a stable loan yield. In the year-ago third quarter, the net interest margin was 3.83%.

HOPE has declared a quarterly cash dividend of $0.14 per common share. The dividend is payable on or about November 9, 2018 to all stockholders of record as of the close of business on October 26, 2018.