Shares of Hanmi Financial rallied for the seventh straight trading session. Encouraging inflation numbers and cooling employment data have increased the chances of the Federal Reserve cutting the interest rates as early as during the September FOMC meeting. As the rates come down, banks' funding costs will stabilize or move lower eventually. Also, demand for loans is expected to improve. Hence, the investors turned bullish on banking sector stocks, driving HAFC higher. While earnings and revenue growth expe ...

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 ...

About Hanmi Financial Corporation LOS ANGELES, July 09, 2024 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (Nasdaq: HAFC) ("Hanmi"), the holding company for Hanmi Bank, today announced that it will report second quarter 2024 financial results at the market close on Tuesday, July 23, 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. Contact Romolo (Ron) Santarosa Senior Executive Vice President & Chief Financial Officer 21 ...

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 ...

Financial Performance - Net income for Q1 2024 was $15.2 million, down 30% from $22.0 million in Q1 2023, with earnings per diluted share decreasing from $0.72 to $0.50[153] - Return on average assets decreased to 0.81% in Q1 2024 from 1.21% in Q1 2023, while return on average stockholders' equity fell from 12.19% to 7.90%[153] - Net interest income for Q1 2024 was $50.7 million, down from $57.9 million in Q1 2023, reflecting a decrease in net interest spread from 2.10% to 1.28%[158] - Noninterest income was $7.7 million, a decrease of $0.6 million, or 7.2%, compared to $8.3 million for the same period in 2023, primarily due to a decrease in all other operating income[172] - Total noninterest expense was $36.4 million, an increase of $3.7 million, or 11.1%, compared to $32.8 million for the same period in 2023[173] Asset and Loan Portfolio - Total assets as of March 31, 2024, were $7.51 billion, a slight decrease from $7.57 billion at the end of 2023[154] - Loans receivable, gross, were $6.18 billion as of March 31, 2024, compared to $6.18 billion at the end of 2023, indicating stability in the loan portfolio[154] - As of March 31, 2024, loans receivable totaled $6.11 billion, with new loan production of $234.0 million during the quarter[179] - The loan portfolio included significant concentrations, with 27.8% in nonresidential building lessors and 12.0% in hospitality[185] - The maturity distribution of outstanding loans showed a total of $6.18 billion, with $3.04 billion having fixed interest rates and $3.14 billion with variable rates[181] Credit Quality - Credit loss expense for Q1 2024 was $0.2 million, significantly lower than $2.1 million in Q1 2023, indicating improved credit quality[153] - Loans 30 to 89 days past due increased to $15.8 million from $10.3 million at the end of 2023, primarily due to a rise in past due residential loans[187] - Special mention loans decreased from $65.3 million at December 31, 2023 to $62.3 million at March 31, 2024, a reduction of $3.0 million[189] - Classified loans decreased from $31.4 million at December 31, 2023 to $23.7 million at March 31, 2024, a decrease of $7.7 million[190] - Nonaccrual loans decreased by $1.5 million, or 9.4%, from $15.5 million at December 31, 2023 to $14.0 million at March 31, 2024[193] Deposits and Capital - Total deposits increased to $6.38 billion as of March 31, 2024, up $95.5 million, or 1.5%, from $6.28 billion at December 31, 2023[215] - The loan-to-deposit ratio improved to 96.9% at March 31, 2024, compared to 98.4% at December 31, 2023[215] - Stockholders' equity rose to $703.1 million as of March 31, 2024, reflecting a net income addition of $7.5 million after dividends paid[223] - The Bank's total risk-based capital ratio was 14.50% as of March 31, 2024, placing it in the "well capitalized" category[231] Interest Rates and Income - The average yield on interest-earning assets increased to 5.47% in Q1 2024 from 4.96% in Q1 2023, while the cost of deposits rose to 2.90% from 1.69%[158] - Interest and dividend income increased by $12.3 million, or 14.1%, to $99.6 million for the three months ended March 31, 2024, primarily due to higher average interest-earning asset yields[165] - Interest expense increased by $19.5 million, or 66.2%, to $48.9 million for the three months ended March 31, 2024, primarily due to increases in deposit rates and average deposit balances[165] - The average cost of interest-bearing liabilities was 4.19% for the three months ended March 31, 2024, compared to 2.85% for the same period in 2023[169] Dividends and Share Repurchase - The company maintained dividends per share at $0.25 for both Q1 2024 and Q1 2023, reflecting a stable dividend policy[153] - The Company paid dividends of $7.7 million ($0.25 per share) for the three months ended March 31, 2024, compared to $30.5 million ($1.00 per share) for the year 2023[230] - The Company repurchased 100,000 shares of common stock during the quarter at an average price of $15.92, totaling $1.6 million[223] Risks and Market Conditions - The company faces various risks including economic conditions, competition for loans and deposits, and regulatory changes that could impact future performance[149] - The estimated impact of a 300 basis point increase in interest rates could result in a $3.974 million increase in net interest income over a 1- to 12-month horizon[226] - Market risk disclosures can be found in the Management's Discussion and Analysis section, specifically regarding interest rate risk management[236]

peeterv Earnings of Hanmi Financial Corporation (NASDAQ: NASDAQ:HAFC) will likely decline this year on the back of margin contraction. Pressure on asset yields was already visible during the first quarter. I’m expecting the company to report earnings of $2.18 per share for 2024, down 16.8% year-over-year. Compared to my last report on the company, I’ve reduced my earnings estimate as I’ve decreased both my margin and loan growth estimates. The year-end target price suggests a high upside from the curren ...

LOS ANGELES, April 25, 2024 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ:HAFC, or "Hanmi"))), the parent company of Hanmi Bank (the "Bank"), today announced that its Board of Directors declared a cash dividend on its common stock for the 2024 second quarter of $0.25 per share. The dividend will be paid on May 22, 2024, to stockholders of record as of the close of business on May 6, 2024. In addition, the Board of Directors today approved a new stock repurchase program. Under the new repurchase pr ...

Hanmi Financial Corporation (NASDAQ:HAFC) Q1 2024 Earnings Conference Call April 23, 2024 5:00 PM ET Company Participants Ben Brodkowitz - Investor Relations, Financial Profiles, Inc. Bonita Lee - President and Chief Executive Officer Anthony Kim - Senior Executive Vice President and Chief Banking Officer Romolo Santarosa - Senior Executive Vice President and Chief Financial Officer Conference Call Participants Kelly Motta - Keefe, Bruyette, & Woods, Inc. Adam Butler - Piper Sandler & Co. Matthew Erdner - J ...