Julianna Balicka
HOPE BANCORPAbout Julianna Balicka
Executive Vice President and Chief Financial Officer of Hope Bancorp, appointed effective April 17, 2023; age 46 as of the 2025 record date . Background includes Senior Vice President, Director of Investor Relations & Corporate Finance at East West Bank (2016–2023) and Managing Director, Equity Research at Keefe, Bruyette & Woods (2005–2016); B.S. in Economics (Wharton) and B.A. in International Studies & German (University of Pennsylvania) . Company performance context for 2024: net income $99.6m; EPS $0.82 ($0.85 ex-notable items); PPNR ROAA 0.88% ex-notable items; capital ratios improved YoY; cumulative TSR value of a $100 investment reached $106 as of 12/31/2024 .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| East West Bank | SVP, Director of Investor Relations & Corporate Finance | 2016–2023 | Oversaw IR and corporate finance/M&A strategy, enterprise forecasting, ALM assumptions, SEC filings support |
| Keefe, Bruyette & Woods | Managing Director, Equity Research | 2005–2016 | Lead analyst for CA SMID-cap banks, Asian American banks, and marketplace lenders |
External Roles
- Not disclosed in company filings reviewed.
Fixed Compensation
| Year | Base Salary ($) | Target Bonus (% of salary) |
|---|---|---|
| 2023 | 450,000 | 40% |
| 2024 | 470,000 | 40% |
Performance Compensation
2024 STIP scorecard (corporate metrics: 80% weight)
| Metric | Weight | Target | Actual 2024 | Payout as % of Target |
|---|---|---|---|---|
| EPS (ex-notable items) | 25% | $1.00 | $0.85 | 63% |
| PPNR ROAA (ex-notable items) | 25% | 0.98% | 0.88% | 50% |
| Criticized loan ratio (4Q average) | 20% | 2.33% | 3.35% | 0% |
| Total loan growth | 15% | 3.0% | -1.62% | 0% |
| Avg deposit change (ex-brokered) | 15% | -2.0% | -2.58% | 78% |
- Individual performance (20% weight): notable contributions included enhanced budgeting/strategic planning/profitability analysis, solar energy tax credit investments generating tax benefits, and supporting regulatory financials for the Territorial acquisition; individual component paid at 106% for Balicka .
2024 STIP payout for Balicka
| Component | Amount ($) | % of Target |
|---|---|---|
| Corporate metrics (80%) | 60,085 | — |
| Individual performance (20%) | 39,915 | 106% of individual component |
| Total cash incentive | 100,000 | 53% of target |
2024 LTIP grant (granted 7/19/2024)
| Award | Units | Vesting/Terms | Grant-date fair value ($) |
|---|---|---|---|
| Time-based RSUs | 9,259 | Vest 1/3 on each of first three anniversaries | 117,497 |
| PSUs – ROTCE (at target) | 4,629 | 3-year performance (2024–2026); absolute ROTCE ex-notables; 50–150% payout | 58,742 (most probable) |
| PSUs – Relative TSR (at target) | 4,630 | 3-year performance vs KBW Nasdaq Regional Banking Index; 50–150% payout | 52,226 (most probable) |
- Program design: 50% RSUs (time-vest), 50% PSUs measured on 3-year ROTCE (ex-notables) and relative TSR, reflecting 2024 plan redesign to avoid metric overlap and extend LTIP performance periods to 3 years .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Beneficial ownership (as of 3/24/2025) | 8,216 shares total; <1% of outstanding |
| Direct shares | 3,216 shares directly owned (balance of beneficial ownership includes RSUs vesting within 60 days) |
| RSUs vesting within 60 days (as of record date) | 5,000 (from 2023 new-hire grant) |
| Unvested time-based RSUs (12/31/2024) | 20,000 (new-hire grant 4/27/2023) and 9,259 (2024 LTIP RSUs) |
| Unvested PSUs at target (12/31/2024) | 4,629 (ROTCE) and 4,630 (TSR) from 2024 LTIP |
| Options held | None for Balicka as of 12/31/2024 |
| Ownership guidelines | Only CEO and non-employee directors have ownership guidelines; NEOs (incl. CFO) do not |
| Hedging/pledging | Hedging prohibited; pledging prohibited with narrow, pre-approved exceptions |
Vesting cadence and potential selling pressure:
- New-hire RSUs (25,000 granted 4/27/2023) vest in equal annual installments over 5 years (anniversaries of 4/27) .
- 2024 RSUs (9,259 granted 7/19/2024) vest one-third annually on grant anniversaries (7/19) .
- 2024 PSUs cliff vest in 2027 based on 2024–2026 performance on ROTCE (ex-notables) and relative TSR .
Employment Terms
| Aspect | Summary |
|---|---|
| Appointment | Named EVP & CFO effective April 17, 2023 |
| Initial package | Base salary $450,000; $50,000 sign-on bonus (clawback if employment terminated before 4/17/2024); 25,000 RSUs vesting over 5 years; eligible for annual bonus up to 40% of base; eligible for LTIP from 2024 (initially targeted at 35% of base, 50% RSUs/50% PSUs vesting over 3 years) |
| 2024 targets | Base salary increased to $470,000; STIP target 40% of salary |
| Agreements | No employment agreement for CFO; only CEO has a contract |
| Change-in-control | Equity awards accelerate upon a Change in Control (target-level for PSUs assumed for valuation); estimated CFO value $458,200 as of 12/31/2024; no cash severance disclosed for CFO |
| Clawback | Company-wide clawback policy compliant with SEC/Nasdaq rules; applies to a broad set of incentive compensation |
Multi-Year Compensation Summary (NEO Table)
| Metric ($) | 2023 | 2024 |
|---|---|---|
| Salary | 311,538 | 464,615 |
| Bonus (incl. individual STIP/holiday) | 145,050 | 39,975 |
| Non-Equity Incentive (corporate STIP) | — | 60,085 |
| Stock Awards (grant-date fair value) | 228,750 | 228,465 |
| All Other Compensation | — | — |
| Total | 685,338 | 793,140 |
Performance & Track Record
- 2024 contributions (per STIP): enhanced budgeting/strategic planning/profitability analysis, tax-credit investments generating income tax benefits, and support for Territorial Bancorp acquisition regulatory financials .
- Company performance context in 2024: net income $99.6m and EPS $0.82 ($0.85 ex-notables), PPNR ROAA 0.88% ex-notables; capital ratios strengthened YoY (Total capital 14.78%, CET1 13.06%, TCE 10.05%) .
Investment Implications
- Pay-for-performance alignment: CFO’s STIP tied 80% to financial metrics (EPS ex-notables, PPNR ROAA, asset quality, loan/deposit growth) and 20% to individual goals; 2024 payouts were below target, signaling calibration to underperformance and governance responsiveness (97% Say-on-Pay support in 2024) .
- Retention vs. dilution: Significant unvested equity (29,259 time-based RSUs plus PSUs at target) provides retention hooks through 2027; the 5-year new-hire RSU schedule and 3-year PSUs stagger vesting and align with long-term value creation .
- Selling pressure windows: Annual RSU vesting on/around April 27 and July 19 each year may create periodic Form 4 activity; policy restricts hedging and pledging, moderating alignment risks .
- Change-in-control economics: No CFO cash severance disclosed; equity acceleration valued at ~$0.46m as of 12/31/2024, which is modest relative to role size—potentially positive for shareholders but a retention risk in strategic scenarios .