LOS ANGELES, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (Nasdaq: HAFC) ("Hanmi"), the holding company for Hanmi Bank, today announced that it will report third quarter 2024 financial results after the market close on Tuesday, October 22, 2024. Management will host a conference call that same day, at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results. Investment professionals and all current and prospective shareholders are invited to access the live call on October 22 ...

LOS ANGELES, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ: HAFC, or "Hanmi"), the parent company of Hanmi Bank (the "Bank"), today announced its participation in the Janney Financial Services Conference on Tuesday, September 17, 2024, in Washington, DC. Bonnie Lee, President and Chief Executive Officer, and Ron Santarosa, Chief Financial Officer, will host oneon-one meetings throughout the day. A copy of the presentation being used for meetings with institutional investors will be ...

Company Overview - Hanmi Financial Corporation is headquartered in Los Angeles, California, and owns Hanmi Bank, which operates 32 full-service branches and eight loan production offices across multiple states including California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington, and Georgia [1] - Hanmi Bank specializes in real estate, commercial, SBA, and trade finance lending, primarily serving small and middle market businesses [1] Investor Relations - Hanmi Financial Corporation will participate in the 25th Annual KBW Community Bank Investor Conference on July 30, 2024, in New York City [2] - Bonnie Lee, President and CEO, and Ron Santarosa, CFO, will host one-on-one and small group meetings during the conference [3] - The presentation for institutional investors will be available on the company's website in the Investor Relations section [3]

Core Insights - Hanmi Financial (HAFC) reported a revenue of $56.68 million for the quarter ended June 2024, reflecting a decrease of 10.6% year-over-year [1] - The earnings per share (EPS) for the quarter was $0.48, down from $0.67 in the same quarter last year [1] - The reported revenue fell short of the Zacks Consensus Estimate of $59.07 million, resulting in a surprise of -4.05% [1] - The company met the consensus EPS estimate of $0.48, indicating no surprise in earnings [1] Financial Metrics - Efficiency Ratio stood at 62.2%, higher than the average estimate of 59.8% from three analysts [3] - Net interest margin was reported at 2.7%, slightly below the estimated 2.8% [3] - Average balance of total interest-earning assets was $7.27 billion, compared to the average estimate of $7.38 billion [3] - Net loan charge-offs to average loans were 0.1%, better than the estimated 0.2% [3] - Total non-interest income was $8.06 million, below the average estimate of $8.32 million [3] - Net interest income reported was $48.62 million, compared to the estimated $50.35 million [3] - Service charges on deposit accounts were $2.43 million, lower than the estimated $2.74 million [3] - Other operating income was $2.71 million, slightly above the estimated $2.55 million [3] - Trade finance and other service charges and fees were $1.28 million, compared to the average estimate of $1.33 million [3] Stock Performance - Hanmi Financial's shares have returned +28.3% over the past month, outperforming the Zacks S&P 500 composite's +2% change [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]

Financial Data and Key Metrics Changes - Net income for the second quarter was $14.5 million, or $0.48 per diluted share, with a return on average assets of 0.77% and return on average stockholders' equity of 7.5% [24] - Net interest income decreased by 4% from the first quarter to $48.6 million, primarily due to an 11 basis point increase in the cost of interest-bearing deposits [62] - Non-interest income increased by 4.2% from the first quarter to $8.1 million [19][25] - Non-interest expenses declined by 3.2% to $35.3 million, driven by lower salaries and benefits [25][64] Business Line Data and Key Metrics Changes - New loan production increased by 17% quarter-over-quarter to $274 million, with a weighted average interest rate of 8.31% [30] - C&I production rose by 16% sequentially and 62% year-over-year, contributing to a 3.6% increase in the C&I portfolio [26] - SBA loan production reached $55 million, exceeding the quarterly target of $40 million to $45 million [29] - Residential mortgage loan production was $30 million, down 43% from the previous quarter due to lower demand [15] Market Data and Key Metrics Changes - Demand deposit accounts grew by 5.6% on an annualized basis, now comprising 31% of total deposits [9][25] - Corporate Korea production was $55 million, representing approximately 14% of total loans and deposits [11][33] - Total commitments for commercial lines of credit were over $1.2 billion, up 15% on an annualized basis [15] Company Strategy and Development Direction - The company continues to execute its core relationship banking model while diversifying and expanding its loan portfolio and deposit franchise [6] - A new branch is planned to open in the Atlanta Metropolitan region later this year, indicating geographic expansion [68] - The company completed the consolidation of three branches, part of a strategy to maximize growth and generate cost savings [12][97] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to drive ongoing growth despite broader macroeconomic uncertainties [39][40] - The loan pipeline is healthy, with expectations for low to mid-single-digit loan growth this year [68] - Management noted that asset quality remains strong, with net loan charge-offs low at 12 basis points of average loans annualized [37] Other Important Information - The tangible book value per share at the end of the second quarter was $22.99, with a common equity Tier 1 capital ratio of 12.11% [38] - The company announced a new 1.5 million share repurchase program and purchased 170,000 shares at an average price of $16.05 [65] Q&A Session Summary Question: What drove the higher payoffs or paydowns? - Management indicated that the payoffs were higher than average this quarter, with expectations that they will return to the average range of $80 million to $85 million going forward [72][73] Question: Can you provide details on the credits that migrated? - NPAs increased by approximately $5 million, primarily due to one commercial loan in foreclosure, but no loss is anticipated from that loan [75] Question: What is the outlook on deposit rates? - Management suggested that the cost of interest-bearing deposits is modestly increasing, with expectations that rates may have peaked [50][94] Question: What is the targeted loan-to-deposit ratio? - The company aims to maintain a loan-to-deposit ratio below 95%, with plans for continued loan sales to manage this ratio [100][105] Question: What are the plans for branch optimization? - The company is continuously evaluating its branch network, having closed three branches while planning to open a new one in Georgia [97][68]

Hanmi Financial (HAFC) came out with quarterly earnings of $0.48 per share, in line with the Zacks Consensus Estimate. This compares to earnings of $0.67 per share a year ago. These figures are adjusted for non-recurring items. A quarter ago, it was expected that this bank holding company would post earnings of $0.52 per share when it actually produced earnings of $0.50, delivering a surprise of -3.85%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Hanmi Financial ...

Investment professionals and all current and prospective shareholders are invited to access the live call on July 23 by dialing 1-877-407-9039 before 2:00 p.m. Pacific Time, using access code "Hanmi Bank". To listen to the call online visit the investor relations page of Hanmi's website at www.hanmi.com. The webcast will also be available for replay approximately one hour following the call. Headquartered in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic comm ...

Exhibit 99.1 D.A. Davidson's 26 th Annual Financial Institutions Conference May 8 - 10, 2024 Los Angeles New York/ New Jersey Virginia Chicago Dallas Houston San Francisco San Diego Forward-Looking Statements Hanmi Financial Corporation (the "Company") cautions investors that any statements contained herein that are not historical facts are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, including, but not limited to, tho ...

LOS ANGELES, May 06, 2024 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ:HAFC, or "Hanmi"))), the parent company of Hanmi Bank (the "Bank"), today announced its participation in the D.A. Davidson 26th Annual Financial Institutions Conference on Thursday, May 9, 2024, in Colorado Springs, CO. Bonnie Lee, President and Chief Executive Officer, and other members of the executive team will host one-on-one and small group meetings throughout the day. A copy of the presentation being used for meetings wi ...

LOS ANGELES, May 06, 2024 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ:HAFC) ("Hanmi"), the holding company for Hanmi Bank, today announced it hosted a community grand opening event on May 2 to commemorate its new branch in Fort Lee, NJ. Clients of the bank and local leaders including Assemblywoman Ellen J. Park, Fort Lee Mayor Mark J. Sokolich, and Councilman Paul K. Yoon joined the celebration. The 3,500 square foot branch is located at 1605 Lemoine Ave, Fort Lee, NJ. The new branch replaces th ...