Yakira Capital Refutes Territorial Bancorp's Board of Directors' Public Concerns Related to Acquisition Offer from Blue Hill Advisors

Board of Directors Continues its Refusal to Consider a Superior Offer from Blue Hill Advisors, Potentially Breaching their Fiduciary Duty

WESTPORT, Conn., Oct. 24, 2024 /PRNewswire/ -- Yakira Capital Management, an investment manager based in Westport, CT, has been compelled to issue an additional public response regarding Territorial Bancorp's (NASDAQ: TBNK) Board of Directors' rejection to consider a superior acquisition offer from the Blue Hill Advisors consortium, in favor of a merger with Hope Bancorp "Hope" (NASDAQ: HOPE). With 111,247 shares (approximately 1.23%), Yakira is one of the largest shareholders of Territorial, and has urged the Board of Directors to at least examine an acquisition offer by Blue Hill.