What to do when a Bank of Hope account holder dies

Hope Bancorp completed its merger with Territorial Bancorp on April 2, 2025. Territorial Savings Bank merged INTO Bank of Hope — Bank of Hope is now the FDIC-member legal entity that holds the account — but the 28 Hawaii branches on Oahu, Maui, Kauai, and Hawaii island still trade as "Territorial Savings, a division of Bank of Hope," and Territorial accounts did not convert. Settle the account through the Territorial service line at 808-946-1400 (Oahu) or 1-800-951-8418 (8:00 AM to 4:30 PM Hawaii Time), or at a former Territorial branch — not the mainland Bank of Hope call center. Mail goes to Territorial Savings, P.O. Box 1481, Honolulu, HI 96806. Bring a certified death certificate plus the beneficiary, trust, or probate documents that match how the account is titled. Because the account sits in Hawaii, the state's Affidavit for Collection of Personal Property (Haw. Rev. Stat. 560:3-1201, for estates of $100,000 or less in personal property with no real estate) can apply when there is no POD beneficiary. One merger note for survivors who banked at both: deposits held at Territorial and at Bank of Hope kept separate FDIC coverage for a six-month grace period after the merger.

For a Bank of Hope Regular, Hope Preferred, or Flex Certificate of Deposit with a POD beneficiary, the named beneficiary presents a certified death certificate and photo ID to claim the funds at a branch. Bank of Hope's published CD disclosures state only that "a penalty may be imposed for early withdrawal" and do not publish a death exception, so ask the banker whether the penalty is waived before breaking the CD — the terms live in the bank's Deposit Account Agreement, which it does not post online. The Flex CD is capped at a $250,000 principal balance and runs 12- or 18-month terms. For an IRA Certificate of Deposit (12- or 18-month terms, $1,000 minimum), the transfer is governed by the beneficiary designation on file, not by POD or trust titling, and the beneficiary completes Bank of Hope's inherited IRA distribution or transfer paperwork. Naming a trust as IRA beneficiary is possible but affects how distributions must be taken, so confirm the trust language before designating it.

Under the federal Garn-St. Germain Act, Bank of Hope cannot enforce a due-on-sale clause when the property transfers to a surviving spouse, child, relative upon death, or the borrower's revocable living trust. Notify Bank of Hope Mortgage Customer Service at 1-855-816-1347 to begin the Successor in Interest process. You will need a certified death certificate and documentation proving your ownership interest in the property. Confirmed Successors in Interest are treated as borrowers under CFPB mortgage servicing rules and can pursue assumption, refinance, or payoff.