Raises Cash Offer from $12.00 to $12.50, a 27% Premium to the Value of the Hope Takeover

Releases Presentation: "A Better Deal for Territorial"

Launches to Keep Stakeholders Informed of the Latest Developments

HONOLULU, Sept. 26, 2024 /PRNewswire/ -- Blue Hill Advisors LLC ("Blue Hill") and former Hawaii banking executive Allan Landon today announced an increased cash offer for Territorial Bancorp Inc. ("Territorial" or the "Company") (NASDAQ:TBNK) from $12.00 per share to $12.50 per share. The increased offer represents a 27% premium over Territorial's proposed takeover by Hope Bancorp, Inc. ("Hope") (NASDAQ:HOPE) based on Hope's closing stock price on the Nasdaq on September 25.

"This increase makes our offer even more attractive," said Mr. Landon.

Jason Blumberg, Managing Member of Blue Hill, added, "Shareholders recognize the superiority of our offer and want Territorial to engage with us."

Blue Hill and Mr. Landon also released a presentation titled, "A Better Deal for Territorial". The presentation and other information can be found at . Stakeholders are encouraged to visit the site to stay updated on the latest developments.

Among other topics, the presentation highlights the vastly superior value of the Landon and Blue Hill proposal and provides additional information about the investors behind it, which include funds with a total of greater than $3 billion in assets under management that have completed dozens of similar bank transactions in recent years. The presentation reiterates the investors' confidence in the transaction, and their expectation to complete due diligence quickly and close the transaction by the end of the year.