Reiterate Desire to Engage Directly with the Board

Former Hawaii banking executive Allan Landon, along with Blue Hill Advisors and other leading bank investors, have reaffirmed their commitment to completing a transaction with Territorial Bancorp Inc.

Commitment to Same Proposed Terms

Clarifying their intent to stand by their offer, these investors have pledged to complete the transaction on the same proposed terms if shareholders vote down the proposed sale to Hope Bancorp, Inc. at the adjourned Special Meeting of Stockholders on November 6.

HONOLULU, Oct. 17, 2024 /PRNewswire/ — Former Hawaii banking executive Allan Landon, Blue Hill Advisors, and other leading bank investors today reaffirmed their commitment to successfully completing a transaction with Territorial Bancorp Inc. and clarified their intent to stand by their offer if shareholders vote down the proposed sale to Hope Bancorp, Inc. at the adjourned Special Meeting of Stockholders on November 6. Mr. Landon and the investors, which also include O’Brien-Staley Partners and veteran bank investor Mark Lynch, have favored a collaborative approach with Territorial’s Board of Directors.

Territorial Shareholders Urged to Vote AGAINST Hope Sale

With the upcoming adjourned Special Meeting of Stockholders on November 6, Allan Landon and the investors are urging Territorial shareholders to vote against the sale to Hope Bancorp once again. They believe that completing the transaction with their group is the best path forward for the company.

Collaborative Approach

The group of investors is committed to engaging directly with Territorial’s Board of Directors to ensure a smooth transaction process. By reiterating their desire to work collaboratively, they hope to convey their dedication to the success of the company and its shareholders.

Effect on Individuals

Individual shareholders of Territorial Bancorp Inc. may see changes in the company’s direction based on the outcome of the upcoming Special Meeting of Stockholders. If the sale to Hope Bancorp is voted down, there may be a shift in leadership and strategic decisions within the company.

Effect on the World

The outcome of the transaction between Territorial Bancorp Inc. and the investor group led by Allan Landon could potentially impact the banking industry as a whole. A successful completion of the transaction may lead to changes in the competitive landscape and strategic partnerships within the industry.

Conclusion

In conclusion, the commitment of Allan Landon, Blue Hill Advisors, and other leading bank investors to completing a transaction with Territorial Bancorp Inc. underscores their dedication to the company’s success. By reiterating their desire to engage directly with the Board and urging shareholders to vote against the sale to Hope Bancorp, they are signaling their willingness to work collaboratively for the benefit of all stakeholders.