Territorial Bancorp says Glass Lewis recommends shareholders vote ‘for’ merger

Territorial Bancorp (TBNK) announced that leading independent proxy advisory firm Glass, Lewis & Co has joined Institutional Shareholder Services, ISS, in recommending that Territorial shareholders vote “FOR” the Company’s pending merger with Hope Bancorp (HOPE).Commenting on the Glass Lewis and ISS reports, Territorial issued the following statement: “The Territorial Board of Directors and management team collectively own 9.2% of Territorial’s outstanding shares. We are confident that the Hope Bancorp transaction is the best path forward for Territorial, our shareholders, customers, employees and the local communities we serve. We have already voted all of our shares FOR the transaction, and we urge our fellow Territorial shareholders to join us and also follow the recommendations from the Territorial Board, Glass Lewis and ISS by voting FOR the Hope Bancorp transaction today.”