Hope Bancorp

Live  

Hope Bancorp, Inc. is a financial holding company that operates primarily through its subsidiary, Bank of Hope. The company was founded in 1983 and is headquartered in Los Angeles, California. It provides a range of banking products and services, including commercial, small business, and consumer banking, as well as specialized services such as SBA lending and trade finance.
The company was formerly known as BBCN Bancorp, Inc. and changed its name to Hope Bancorp, Inc. in August 2016. The name change came after the company completed its acquisition of Wilshire Bancorp, Inc. and its subsidiary, Wilshire Bank, in July 2016. This acquisition expanded Bank of Hope’s presence in the Korean-American community and in other Asian-American communities in the United States.
Currently, Bank of Hope operates 58 branches in California, Washington, Texas, Illinois, New York, Virginia, New Jersey, and Alabama, as well as 10 loan production offices. The majority of its customers are small- to medium-sized businesses and individuals in diverse ethnic communities.
In addition to traditional banking services, Hope Bancorp also offers wealth management and investment services through its Wealth Management and Retirement Services division.
The company is publicly traded on the NASDAQ stock exchange under the ticker symbol HOPE. As of June 2021, the company had a market capitalization of approximately $1.4 billion. Its current Chairman, President, and Chief Executive Officer is Kevin S. Kim.

Hope Bancorp is a company that operates a bank called Hope Bank. This bank helps people and businesses manage their money. It offers services like checking accounts, savings accounts, loans, and credit cards. When people put their money in the bank, Hope Bank pays them a little bit of interest as a thank you for keeping their money there.
Hope Bancorp makes money mainly by lending out money. When people want to buy a house or start a business, they can take out a loan from the bank. The bank charges them extra money, called interest, for using that loan. So, when someone takes out a loan, the bank gives them money now, and then they pay it back over time plus some extra. That extra is how the bank earns most of its money.
Hope Bancorp is successful for a few reasons. First, it offers helpful services that many people need, like loans for houses or cars. Second, it has a good reputation, meaning that people trust it to keep their money safe. If more people trust the bank and use its services, it can continue to make money.
In the future, Hope Bancorp is likely to stay successful because it can adapt to new technologies. For example, banks now have mobile apps that make it easy for people to manage their money from their phones. As more people use banking services online, Hope Bank can grow by offering even more easy-to-use services.
So, to summarize, Hope Bancorp helps people manage their money and earns money by lending that money out at a higher interest rate. Its good reputation and ability to adapt to new ways of doing things mean it will likely continue to succeed in the future.

MS4gU3Ryb2 5nIGZvY3Vz IG9uIGRpdm Vyc2l0eSBh bmQgaW5jbH VzaW9uOiBI b3BlIEJhbm NvcnAgaGFz IGEgZGVlcC Bjb21taXRt ZW50IHRvIG RpdmVyc2l0 eSBhbmQgaW 5jbHVzaW9u LCBib3RoIH dpdGhpbiB0 aGUgY29tcG FueSBhbmQg aW4gdGhlIG NvbW11bml0 aWVzIGl0IH NlcnZlcy4g VGhlIGNvbX BhbnnigJlz IGJvYXJkIG 9mIGRpcmVj dG9ycyBhbm QgbGVhZGVy c2hpcCB0ZW FtIGFyZSBt YWRlIHVwIG 9mIGluZGl2 aWR1YWxzIG Zyb20gZGl2 ZXJzZSBiYW NrZ3JvdW5k cy48YnI+Mi 4gSGVhdnkg ZW1waGFzaX Mgb24gY29t bXVuaXR5IG RldmVsb3Bt ZW50OiBBcy BhIGNvbW11 bml0eS1mb2 N1c2VkIGJh bmssIEhvcG UgQmFuY29y cCBwbGFjZX MgYSBzdHJv bmcgZW1waG FzaXMgb24g Y29tbXVuaX R5IGRldmVs b3BtZW50IG FuZCByZWlu dmVzdGluZy BpbiB0aGUg bmVpZ2hib3 Job29kcyBp dCBzZXJ2ZX MuIFRoZSBj b21wYW55IH BhcnRuZXJz IHdpdGggbG 9jYWwgb3Jn YW5pemF0aW 9ucyB0byBz dXBwb3J0IG FmZm9yZGFi bGUgaG91c2 luZywgc21h bGwgYnVzaW 5lc3MgZGV2 ZWxvcG1lbn QsIGFuZCBm aW5hbmNpYW wgZWR1Y2F0 aW9uIGluaX RpYXRpdmVz Ljxicj4zLi BFeHBlcnRp c2UgaW4gc2 VydmluZyBp bW1pZ3Jhbn QgY29tbXVu aXRpZXM6IE hvcGUgQmFu Y29ycCBoYX MgYSBsb25n IGhpc3Rvcn kgb2Ygc2Vy dmluZyB0aG UgZmluYW5j aWFsIG5lZW RzIG9mIGlt bWlncmFudC Bjb21tdW5p dGllcywgcG FydGljdWxh cmx5IGluIH RoZSBBc2lh biBBbWVyaW NhbiBtYXJr ZXQuIFRoZS Bjb21wYW55 IG9mZmVycy BzcGVjaWFs aXplZCBzZX J2aWNlcyBh bmQgcmVzb3 VyY2VzIHRv IGhlbHAgdG hlc2UgY3Vz dG9tZXJzIG 5hdmlnYXRl IHRoZSBmaW 5hbmNpYWwg c3lzdGVtIG FuZCBhY2hp ZXZlIHRoZW lyIGZpbmFu Y2lhbCBnb2 Fscy48YnI+ NC4gU3Ryb2 5nIGZpbmFu Y2lhbCBwZX Jmb3JtYW5j ZTogRGVzcG l0ZSBlY29u b21pYyBjaG FsbGVuZ2Vz LCBIb3BlIE JhbmNvcnAg aGFzIGNvbn Npc3RlbnRs eSBkZWxpdm VyZWQgc3Ry b25nIGZpbm FuY2lhbCBy ZXN1bHRzLi BJbiAyMDIw LCB0aGUgY2 9tcGFueSBy ZXBvcnRlZC ByZWNvcmQg ZWFybmluZ3 MgYW5kIGFz c2V0cywgaG lnaGxpZ2h0 aW5nIGl0cy ByZXNpbGll bmNlIGFuZC BzdGFiaWxp dHkgaW4gdG hlIGZhY2Ug b2YgYWR2ZX JzaXR5Ljxi cj41LiBDb2 1taXRtZW50 IHRvIHJlc3 BvbnNpYmxl IGJhbmtpbm c6IEhvcGUg QmFuY29ycC BwcmFjdGlj ZXMgcmVzcG 9uc2libGUg YmFua2luZy BieSBzdHJp Y3RseSBhZG hlcmluZyB0 byBldGhpY2 FsIGFuZCBz dXN0YWluYW JsZSBidXNp bmVzcyBwcm FjdGljZXMu IFRoZSBjb2 1wYW55IHBy aW9yaXRpem VzIHRyYW5z cGFyZW5jeS wgZmFpciB0 cmVhdG1lbn Qgb2YgY3Vz dG9tZXJzLC BhbmQgcmVz cG9uc2libG UgbGVuZGlu ZyB0byBzdX Bwb3J0IHRo ZSBsb25nLX Rlcm0gZWNv bm9taWMgc3 VjY2VzcyBv ZiBpdHMgY3 VzdG9tZXJz IGFuZCBjb2 1tdW5pdGll cy48YnI+Ni 4gSW5ub3Zh dGl2ZSBkaW dpdGFsIGJh bmtpbmcgc2 9sdXRpb25z OiBJbiByZW NlbnQgeWVh cnMsIEhvcG UgQmFuY29y cCBoYXMgaW 52ZXN0ZWQg aW4gbW9kZX JuaXppbmcg aXRzIHRlY2 hub2xvZ3kg YW5kIGRpZ2 l0YWwgYmFu a2luZyBjYX BhYmlsaXRp ZXMsIG9mZm VyaW5nIGN1 c3RvbWVycy BhIGNvbnZl bmllbnQgYW 5kIHNlY3Vy ZSB3YXkgdG 8gbWFuYWdl IHRoZWlyIG ZpbmFuY2Vz LiBUaGlzIG hhcyBoZWxw ZWQgdGhlIG NvbXBhbnkg YXR0cmFjdC BhbmQgcmV0 YWluIGEgeW 91bmdlciwg dGVjaC1zYX Z2eSBjdXN0 b21lciBiYX NlLjxicj43 LiBSZWNvZ2 5pemVkIGZv ciBpdHMgcG VyZm9ybWFu Y2UgYW5kIH ZhbHVlczog SG9wZSBCYW 5jb3JwIGhh cyByZWNlaX ZlZCBudW1l cm91cyBhd2 FyZHMgYW5k IGFjY29sYW RlcyBmb3Ig aXRzIGZpbm FuY2lhbCBw ZXJmb3JtYW 5jZSwgY29t bXVuaXR5IG ludm9sdmVt ZW50LCBhbm QgY29tbWl0 bWVudCB0by BkaXZlcnNp dHkgYW5kIG luY2x1c2lv bi4gVGhlc2 UgaW5jbHVk ZSBiZWluZy BuYW1lZCBh IFRvcCBEaX ZpZGVuZCBT dG9jayBhbm QgYSBCZXN0 IEJhbmsgYn kgRm9yYmVz IGFuZCBiZW luZyByZWNv Z25pemVkIG FzIGEgRGl2 ZXJzaXR5SW 5jIE5vdGV3 b3J0aHkgQ2 9tcGFueSBm b3IgZml2ZS Bjb25zZWN1 dGl2ZSB5ZW Fycy4=

VGhlIGJ1c2 luZXNzIG1v ZGVsIG9mIE hvcGUgQmFu Y29ycCwgSW 5jLiBpcyB0 aGF0IG9mIG EgYmFuayBo b2xkaW5nIG NvbXBhbnku IEl0IHByb3 ZpZGVzIGZp bmFuY2lhbC BzZXJ2aWNl cyBwcmltYX JpbHkgdG8g c21hbGwgYW 5kIG1lZGl1 bS1zaXplZC BidXNpbmVz c2VzIGFuZC BpbmRpdmlk dWFscyB0aH JvdWdoIGl0 cyBzdWJzaW RpYXJ5LCBC YW5rIG9mIE hvcGUsIGEg ZmVkZXJhbG x5IGNoYXJ0 ZXJlZCBiYW 5rLiBUaGUg Y29tcGFueS BvZmZlcnMg dmFyaW91cy BiYW5raW5n IHByb2R1Y3 RzIGFuZCBz ZXJ2aWNlcy wgaW5jbHVk aW5nIGRlcG 9zaXRzLCBs b2Fucywgd2 VhbHRoIG1h bmFnZW1lbn QsIGFuZCBv dGhlciByZW xhdGVkIGZp bmFuY2lhbC BzZXJ2aWNl cy4gSG9wZS BCYW5jb3Jw 4oCZcyB0YX JnZXQgbWFy a2V0IGluY2 x1ZGVzIHRo ZSBLb3JlYW 4tQW1lcmlj YW4gYW5kIG 90aGVyIGRp dmVyc2UgY2 9tbXVuaXRp ZXMgaW4gdG hlIFVTLiBU aGUgY29tcG FueeKAmXMg Z29hbCBpcy B0byBnZW5l cmF0ZSBzdG FibGUsIGRp dmVyc2lmaW VkLCBhbmQg c3VzdGFpbm FibGUgZWFy bmluZ3MgYn kgcHJvdmlk aW5nIGN1c3 RvbWl6ZWQg ZmluYW5jaW FsIHNvbHV0 aW9ucyBhbm QgZXhjZXB0 aW9uYWwgc2 VydmljZSB0 byBpdHMgY3 VzdG9tZXJz IHdoaWxlIG 1haW50YWlu aW5nIGEgc3 Ryb25nIGJh bGFuY2Ugc2 hlZXQgYW5k IHJpc2sgbW FuYWdlbWVu dCBwcmFjdG ljZXMu

AI does have the potential to impact financial institutions like Hope Bancorp in several ways:
1. Substitution: AI-driven technologies can create alternative financial services that could substitute for traditional banking products. For example, fintech companies are using AI to offer automated financial advice, instant loans, and personalized investing strategies, which may attract customers away from traditional banks.
2. Disintermediation: With the advent of AI, companies can streamline operations and reduce reliance on traditional banking services. AI-enabled platforms can connect borrowers directly with lenders, bypassing banks altogether. This could lead to reduced transaction volume for Hope Bancorp and similar institutions, as customers seek more efficient or lower-cost solutions.
3. Margin Pressure: As AI technologies become more prevalent, competition in providing banking services may increase. If competitors can leverage AI to reduce costs and improve service efficiency, Hope Bancorp may face pressure to lower its own fees or interest rates, resulting in thinning margins.
In conclusion, while AI presents opportunities for improved services and operational efficiencies, it also poses material risks to Hope Bancorp’s traditional offerings and competitive positioning. The company will need to adapt to incorporate AI into its operations to mitigate these threats and stay competitive in the evolving financial landscape.

Hope Bancorp’s earnings, cash flow, and valuation are significantly sensitive to changes in interest rates due to its operations as a financial institution that primarily engages in commercial banking.
1. Earnings Sensitivity: Changes in interest rates directly affect the interest income that Hope Bancorp generates from its loan portfolio. If interest rates rise, the bank can earn more from variable-rate loans and new lending, potentially increasing earnings. Conversely, if rates fall, the yield on its asset portfolio may decline, which could negatively impact earnings.
2. Cash Flow Sensitivity: Interest rates influence the cash flow from the bank’s operations. Higher rates can lead to increased cash flow from interest payments on loans, while lower rates may reduce cash flows as the institution earns less interest. Additionally, changes in rates can affect the cost of funding, which further impacts cash flow dynamics.
3. Valuation Sensitivity: The valuation of Hope Bancorp is likely influenced by interest rates through discounted cash flow models. As rates change, the discount rate applied to future cash flows may also change, affecting the present value of those cash flows. A higher interest rate typically results in a lower present value for future earnings, while lower rates can enhance valuation.
Overall, while rising interest rates can potentially boost earnings and cash flow in the short term, sustained high rates may also lead to increased loan defaults or reduced demand for borrowing, creating additional complexity in evaluating overall impacts. Conversely, low rates can squeeze margins but may facilitate increased lending and economic activity, impacting the bank’s long-term performance.

CiAgICAgIC AgICAgIDxk aXYgc3R5bG U9J3dpZHRo OiAxMDAlOy BkaXNwbGF5 OiBmbGV4Oy BqdXN0aWZ5 LWNvbnRlbn Q6IGNlbnRl cjsnPgogIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nCiAgIC AgICAgICAg ICAgICAgIC AgZGlzcGxh eTogZmxleD sKICAgICAg ICAgICAgIC AgICAgICBh bGlnbi1pdG VtczogY2Vu dGVyOwogIC AgICAgICAg ICAgICAgIC AgIGJhY2tn cm91bmQtY2 9sb3I6ICNm MGY0Zjg7Ci AgICAgICAg ICAgICAgIC AgICAgYm9y ZGVyOiAxcH ggc29saWQg I2QxZTNmMD sKICAgICAg ICAgICAgIC AgICAgICBi b3JkZXItcm FkaXVzOiAx MHB4OwogIC AgICAgICAg ICAgICAgIC AgIHBhZGRp bmc6IDEwcH g7CiAgICAg ICAgICAgIC AgICAgICAg bWFyZ2luOi AyMHB4IDA7 CiAgICAgIC AgICAgICAg ICAgICAgZm 9udC1mYW1p bHk6ICJTZW dvZSBVSSIs IFJvYm90by wgc2Fucy1z ZXJpZjsKIC AgICAgICAg ICAgICAgIC AgICBib3gt c2hhZG93Oi AwIDJweCA2 cHggcmdiYS gwLCAwLCAw LCAwLjA1KT sKICAgICAg ICAgICAgIC AgICAgICBt YXgtd2lkdG g6IDkwMHB4 OwogICAgIC AgICAgICAg ICAgICAgIH dpZHRoOiAx MDAlOyc+Cg ogICAgICAg ICAgICAgIC AgICAgIDxp bWcgc3JjPS Jhc3NldHMv bG9nb3Mvd0 c1b3RKZGRP OHlPZURLMG QxclAud2Vi cCIgYWx0PS JIb3BlIEJh bmNvcnAiIH RpdGxlPSJI b3BlIEJhbm NvcnAiICBj bGFzcz0iaW 1nLWZsdWlk IiBoZWlnaH Q9OTAgd2lk dGg9OTAgbG 9hZGluZz0n bGF6eScgc3 R5bGU9J2Jv cmRlci1yYW RpdXM6IDZw eDsnPgoKIC AgICAgICAg ICAgICAgIC AgICA8ZGl2 IHN0eWxlPS dmbGV4OiAx OyB0ZXh0LW FsaWduOiBj ZW50ZXI7IG 1hcmdpbi1s ZWZ0OiA1cH g7Jz4KICAg ICAgICAgIC AgICAgICAg ICAgICAgPH Agc3R5bGU9 J2ZvbnQtc2 l6ZTogMjZw eDsgY29sb3 I6ICMzMzM7 IG1hcmdpbi 1ib3R0b206 IDE1cHg7Jz 4KICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIP Cfk4ggV2Fu dCB0byByZW FkIG1vcmUg YWJvdXQgSG 9wZSBCYW5j b3JwPwogIC AgICAgICAg ICAgICAgIC AgICAgICA8 L3A+CgogIC AgICAgICAg ICAgICAgIC AgICAgICA8 YSBocmVmPS dpbmRleC5w aHA/cGFnZT 1zaWdudXAn IHN0eWxlPS cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG JhY2tncm91 bmQtY29sb3 I6ICMwMDdC RkY7CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBjb2xvcj ogI2ZmZjsK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIHBh ZGRpbmc6ID EwcHggMjBw eDsKICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IGJvcmRlci 1yYWRpdXM6 IDVweDsKIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIHRleH QtZGVjb3Jh dGlvbjogbm 9uZTsKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIGZvbnQt d2VpZ2h0Oi Bib2xkOwog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgbWFy Z2luLXJpZ2 h0OiAxMHB4 OwogICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg dHJhbnNpdG lvbjogYmFj a2dyb3VuZC 1jb2xvciAw LjNzIGVhc2 U7JwogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC Agb25tb3Vz ZW92ZXI9J3 RoaXMuc3R5 bGUuYmFja2 dyb3VuZENv bG9yPSIjMD A1NmIzIicK ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIG9u bW91c2VvdX Q9J3RoaXMu c3R5bGUuYm Fja2dyb3Vu ZENvbG9yPS IjMDA3QkZG Iic+CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBTaWduIH VwIGZvciBm cmVlCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDwv YT4KCiAgIC AgICAgICAg ICAgICAgIC AgICAgIDxz cGFuIHN0eW xlPSdtYXJn aW46IDAgOH B4OyBjb2xv cjogIzU1NT snPm9yPC9z cGFuPgoKIC AgICAgICAg ICAgICAgIC AgICAgICAg PGEgaHJlZj 0naW5kZXgu cGhwP3BhZ2 U9bG9naW4n IHN0eWxlPS cKICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgIG NvbG9yOiAj MDA3QkZGOw ogICAgICAg ICAgICAgIC AgICAgICAg ICAgICAgdG V4dC1kZWNv cmF0aW9uOi B1bmRlcmxp bmU7CiAgIC AgICAgICAg ICAgICAgIC AgICAgICAg ICBmb250LX dlaWdodDog NTAwOyc+Ci AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICBsb2 cgaW4KICAg ICAgICAgIC AgICAgICAg ICAgICAgPC 9hPgoKCiAg ICAgICAgIC AgICAgICAg ICAgICAgID xwIHN0eWxl PSdtYXJnaW 4tdG9wOiAx NXB4OyBmb2 50LXNpemU6 IDEzcHg7IG ZvbnQtd2Vp Z2h0OiBib2 xkOyBjb2xv cjogI2QzMm YyZjsnPgog ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAg8J+G kyBEaXNjb3 ZlciA8aT4i VGhlIENoZW NrbGlzdCBW YWx1ZSBJbn Zlc3RvciDi gJQgQSBTbW FydGVyIFdh eSB0byBQaW NrIFN0b2Nr cyI8L2k+IO KAlCBmcmVl IGVCb29rIQ ogICAgICAg ICAgICAgIC AgICAgICAg ICA8L3A+Cg ogICAgICAg ICAgICAgIC AgICAgICAg ICA8IS0tCi AgICAgICAg ICAgICAgIC AgICAgICAg IDxkaXYgc3 R5bGU9J21h cmdpbi10b3 A6IDEycHg7 IGZvbnQtc2 l6ZTogMTNw eDsgY29sb3 I6ICM0NDQ7 Jz4KICAgIC AgICAgICAg ICAgICAgIC AgICAgICAg IFNpZ24gdX Agbm93IGFu ZCBnZXQgb3 VyIGZyZWUg ZUJvb2sgCi AgICAgICAg ICAgICAgIC AgICAgICAg ICAgICA8Yj 5UaGUgQ2hl Y2tsaXN0IF ZhbHVlIElu dmVzdG9yIO KAlCBBIFNt YXJ0ZXIgV2 F5IHRvIFBp Y2sgU3RvY2 tzPC9iPgog ICAgICAgIC AgICAgICAg ICAgICAgIC A8L2Rpdj4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgLS0+CiAg ICAgICAgIC AgICAgICAg ICAgICAgID whLS0KICAg ICAgICAgIC AgICAgICAg ICAgICAgPG RpdiBzdHls ZT0nbWFyZ2 luLXRvcDog MTZweDsgZm 9udC1zaXpl OiAxNHB4Oy Bjb2xvcjog IzQ0NDsgZm 9udC1mYW1p bHk6IC1hcH BsZS1zeXN0 ZW0sIEJsaW 5rTWFjU3lz dGVtRm9udC wgU2Vnb2Ug VUksIFJvYm 90bywgSGVs dmV0aWNhIE 5ldWUsIHNh bnMtc2VyaW Y7IGxpbmUt aGVpZ2h0Oi AxLjY7Jz4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIEhh dmUgeW91IG hlYXJkIGFi b3V0IG91ci BzaG9ydCA8 c3Ryb25nIH N0eWxlPSdm b250LXdlaW dodDogNjAw Oyc+RGFpbH kgVmlkZW8g TmV3c2xldH Rlcjwvc3Ry b25nPj8KIC AgICAgICAg ICAgICAgIC AgICAgICAg ICAgIDxhIG hyZWY9J2h0 dHBzOi8vd3 d3Lmluc2ln aHRmdWx2YW x1ZS5jb20v bmV3c2xldH Rlci5waHAn IHRhcmdldD 0nX2JsYW5r JyBzdHlsZT 0nY29sb3I6 ICMwMDdCRk Y7IHRleHQt ZGVjb3JhdG lvbjogbm9u ZTsgZm9udC 13ZWlnaHQ6 IDUwMDsgbW FyZ2luLWxl ZnQ6IDZweD snPgogICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgICAgIEZp bmQgb3V0IG 1vcmUKICAg ICAgICAgIC AgICAgICAg ICAgICAgIC AgIDwvYT4K ICAgICAgIC AgICAgICAg ICAgICAgIC AgPC9kaXY+ CiAgICAgIC AgICAgICAg ICAgICAgIC AgIC0tPgog ICAgICAgIC AgICAgICAg ICAgIDwvZG l2PgogICAg ICAgICAgIC AgICAgPC9k aXY+CiAgIC AgICAgICAg IDwvZGl2Pg ogICAgICAg ICAgICAKIC AgICAgICAK ICAgICAgIC A8c3BhbiBj bGFzcz0nYm x1cnJlZC10 ZXh0Jz4KIC AgICAgICAg ICAgTVM0Z1 JtOXliVyBW eWJIa2dhMj V2IGQyNGdZ WE1nVjIgbH NjMmhwY21V ZyBRbUZ1WT I5eWNDIHdn U0c5d1pTQk MgWVc1amIz SndJRyBsek lHRWdWUzVU IExpMWlZWE 5sWkMgQmlZ VzVySUdodi BiR1JwYm1j Z1kyIDl0Y0 dGdWVTQjAg YUdGMElHOX daWCBKaGRH VnpJSFJvIG NtOTFaMmdn YVggUnpJSE 4xWW5OcCBa R2xoY25rc0 lFIEpoYm1z Z2IyWWcgU0 c5d1pTNDhZ biBJK01pNG dWR2hsIElH TnZiWEJoYm 4ga2dkMkZ6 SUdadiBkVz VrWldRZ2FX IDRnTVRrNE 15QmggYm1R Z2FYTWdhRy BWaFpIRjFZ WEowIFpYSm xaQ0JwYmkg Qk1iM01nUV c1biBaV3hs Y3l3Z1EyIE ZzYVdadmNt NXAgWVM0OF luSStNeSA0 Z1NHOXdaU0 JDIFlXNWpi M0p3SUcgbH pJRzl1WlNC diBaaUIwYU dVZ2JHIEZ5 WjJWemRDQk wgYjNKbFlX NHRRVyAxbG NtbGpZVzRn IFltRnVhM0 1nYVcgNGdk R2hsSUZWdS BhWFJsWkNC VGRHIEYwWl hNc0lIZHAg ZEdnZ1lTQn pkSCBKdmJt Y2djSEpsIG MyVnVZMlVn YVcgNGdRMk ZzYVdadiBj bTVwWVN3Z1 ZHIFY0WVhN c0lFbHMgYk dsdWIybHpM QyBCV2FYSm 5hVzVwIFlT d2dUbVYzSU YgbHZjbXNz SUdGdSBaQ0 JPWlhjZ1Nt IFZ5YzJWNU xqeGkgY2o0 MExpQlVhRy BVZ1kyOXRj R0Z1IGVTQj NaVzUwSUgg QjFZbXhwWX lCcCBiaUF5 TURBeElHIE Z1WkNCcGN5 QnMgYVhOMF pXUWdiMiA0 Z2RHaGxJRT VCIFUwUkJV U0J6ZEcgOW pheUJsZUdO byBZVzVuWl NCMWJtIFJs Y2lCMGFHVW cgZEdsamEy VnlJSCBONW JXSnZiQ0JJ IFQxQkZMan hpY2ogNDFM aUJCY3lCdi BaaUF5TURJ eExDIEJJYj NCbElFSmgg Ym1OdmNuQW dhRyBGeklH OTJaWElnIE pERTNJR0pw YkcgeHBiMj RnYVc0ZyBk RzkwWVd3Z1 lYIE56WlhS eklHRnUgWk NCelpYSjJa WCBNZ2IzWm xjaUF4IElH MXBiR3hwYj IgNGdZM1Z6 ZEc5dCBaWE p6TGp4aWNq IDQyTGlCSm JpQXkgTURJ eExDQkliMy BCbElFSmhi bU52IGNuQW dkMkZ6SUgg SmhibXRsWk NBaiBNU0J2 YmlCR2IzIE ppWlhQaWdK a2cgYkdsem RDQnZaaSBC QmJXVnlhV0 5oIDRvQ1pj eUJDWlggTj BJRk50WVd4 cyBMVU5oY0 NCQ1lXIDVy Y3lCbWIzSW cgZEdobElI Um9hWCBKa0 lHTnZibk5s IFkzVjBhWF psSUggbGxZ WEl1UEdKeS BQamN1SUZS b1pTIEJqYj Ixd1lXNTUg SUdoaGN5Qn laVyBObGFY WmxaQ0J1IG RXMWxjbTkx Y3kgQmhkMk Z5WkhNZyBZ VzVrSUhKbF kyIDluYm1s MGFXOXUgY3 l3Z2FXNWpi SCBWa2FXNW 5JR0psIGFX NW5JRzVoYl cgVmtJRzl1 WlNCdiBaaU IwYUdVZ1ZH IDl3SURFd0 lFSmggYm10 eklHSjVJRS BGemFXRnVJ RVp2IGNuUj FibVVnVFcg Rm5ZWHBwYm 1VZyBZVzVr SUdKbGFXID VuSUd4cGMz UmwgWkNCcG JpQjBhRyBV Z01qQXlNU0 JDIFpYTjBJ RkJzWVcgTm xjeUIwYnlC WCBiM0pySU dsdUlFIHh2 Y3lCQmJtZG wgYkdWeklH SjVJSCBSb1 pTQk1iM01n IFFXNW5aV3 hsY3kgQkNk WE5wYm1Wei BjeUJLYjNW eWJtIEZzTG p4aWNqNDQg TGlCSWIzQm xJRSBKaGJt TnZjbkFnIG FHRnpJR0Vn YzMgUnliMj VuSUdOdiBi VzFwZEcxbG JuIFFnZEc4 Z1pHbDIgWl hKemFYUjVJ RyBGdVpDQn BibU5zIGRY TnBiMjRzSU ggZHBkR2dn YjNabCBjaU EzTUNVZ2Iy IFlnYVhSek lHVnQgY0d4 dmVXVmxjeS BCaVpXbHVa eUJ3IFpXOX diR1VnYjIg WWdZMjlzYj NJZyBZVzVr SUc5MlpYIE lnTlRBbElH SmwgYVc1bk lIZHZiVyBW dUxqeGljaj Q1IExpQkpi aUJoWkcgUn BkR2x2YmlC MCBieUIwY2 1Ga2FYIFJw YjI1aGJDQm kgWVc1cmFX NW5JSCBObG NuWnBZMlZ6 IExDQkliM0 JsSUUgSmhi bU52Y25BZy BZV3h6YnlC dlptIFpsY2 5NZ2MzQmwg WTJsaGJHbD ZaVyBRZ2My VnlkbWxqIF pYTWdabTl5 SUggTnRZV3 hzSUdKMSBj Mmx1WlhOek lHIEZ1WkNC amIyMXQgWl hKamFXRnNJ SCBKbFlXd2 daWE4wIFlY UmxJR3hsYm 0gUnBibWNz SUdGeiBJSG RsYkd3Z1lY IE1nVTBKQk lHRnUgWkNC MGNtRmtaUy BCbWFXNWhi bU5sIElHeH ZZVzV6TGog eGljajR4TU M0ZyBWR2hs SUdOdmJYIE JoYm5rZ2FH RnogSUdFZ2 MzUnliMiA1 bklHWnZZM1 Z6IElHOXVJ R052YlcgMT FibWwwZVNC bCBibWRoWj JWdFpXIDUw SUdGdVpDQn ogZFhCd2Iz SjBjeSBCMl lYSnBiM1Z6 IElHTm9ZWE pwZEcgRmli R1VnYjNKbi BZVzVwZW1G MGFXIDl1Y3 lCaGJtUWcg WTI5dGJYVn VhWCBSNUlH bHVhWFJwIF lYUnBkbVZ6 SUggUm9jbT kxWjJnZyBh WFJ6SUVodm NHIFVnWm05 eUlIUm8gWl NCR2RYUjFj bSBVZ2NISn ZaM0poIGJT ND0KICAgIC AgICA8L3Nw YW4+CiAgIC AgICAgCiAg ICAgICAg