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 ...

Core Viewpoint - Hanmi Financial Corporation will report its second quarter 2024 financial results on July 23, 2024, and will host a conference call to discuss these results [2]. Group 1: 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 several states including California, Texas, and New York [4]. - Hanmi Bank focuses on lending in areas such as real estate, commercial, SBA, and trade finance, primarily serving small and middle market businesses [4]. Group 2: Financial Reporting - The financial results for the second quarter of 2024 will be announced after market close on July 23, 2024 [2]. - A conference call will take place on the same day at 2:00 p.m. Pacific Time to discuss the financial results [2][3].

[Overview & Highlights](index=5&type=section&id=Overview%20%26%20highlights) This section provides a snapshot of Hanmi Financial Corporation, its management, historical milestones, and key performance highlights for the first quarter of 2024 [Hanmi Franchise at a Glance](index=5&type=section&id=Hanmi%20Franchise%20at%20a%20Glance) Hanmi Financial Corporation is the second-largest Korean-American bank in the U.S, with $7.5 billion in total assets and a strong growth track record Key Metrics | Metric | Value (as of 1Q24) | | :--- | :--- | | Total Assets | $7.5 Billion | | Loans | $6.2 Billion | | Deposits | $6.4 Billion | | Tangible Book Value Per Share (TBVPS) | $22.86 | | Tangible Common Equity / Tangible Assets (TCE/TA) | 9.23% | | Loan Growth (CAGR since 2013) | 10.7% | - Founded in 1982, Hanmi is the second largest Korean-American bank in the U.S. and is **well-capitalized**, with capital levels significantly above regulatory requirements[10](index=10&type=chunk) [Management Team](index=6&type=section&id=Management%20Team) The company is led by a seasoned management team with extensive industry and company-specific experience, ensuring stable and knowledgeable leadership Executive Leadership | Name | Position | Banking Experience (Years) | Hanmi Experience (Years) | | :--- | :--- | :--- | :--- | | Bonnie Lee | President & CEO | 38 | 11 | | Romolo Santarosa | SEVP, Chief Financial Officer | 33 | 1 | | Anthony Kim | SEVP, Chief Banking Officer | 30 | 11 | | Matthew Fuhr | EVP, Chief Credit Officer | 28 | 1 | | Mike Park | EVP, Chief Credit Risk Officer | 36 | 10 | [The Hanmi Timeline](index=7&type=section&id=The%20Hanmi%20Timeline) Hanmi's 40-year history is marked by consistent growth, strategic acquisitions, and key leadership changes that have shaped its current market position - **1982:** Founded as the first Korean-American Bank in the U.S[16](index=16&type=chunk) - **2004:** Acquired Pacific Union Bank ($1.2 billion in assets)[16](index=16&type=chunk) - **2014:** Acquired Central Bancorp, Inc ($1.3 billion in assets)[16](index=16&type=chunk) - **2019:** Bonnie Lee appointed as the new CEO[16](index=16&type=chunk) - **2022:** Celebrated its 40th Anniversary and **surpassed $7 billion in assets**[16](index=16&type=chunk) [Why Hanmi?](index=8&type=section&id=Why%20Hanmi%3F) Hanmi's investment appeal is based on its premier deposit franchise, diversified loan portfolio, disciplined credit administration, and prudent capital management - **Premier Deposit Franchise:** Achieved a **10% CAGR** in average deposits since 2013, with noninterest-bearing deposits at 30% of the total[18](index=18&type=chunk) - **Diversified Loan Portfolio:** Reduced CRE concentration from 85% (2013) to **63% (Q1 2024)** while achieving an 11% loan CAGR since 2013[18](index=18&type=chunk) - **Disciplined Credit Administration:** Allowance for credit losses to loans was **1.11%** and nonperforming assets were **0.19%** of total assets at Q1 2024[18](index=18&type=chunk) - **Prudent Capital Management:** TCE to tangible assets ratio was **9.23%**, and the bank remains well-capitalized with a CET1 ratio of 12.05%[18](index=18&type=chunk) [1Q24 Highlights](index=9&type=section&id=1Q24%20Highlights) The first quarter of 2024 saw stable loan and deposit balances but faced profitability pressure from net interest margin compression and a higher efficiency ratio Financial Performance | Metric | 1Q24 Value | | :--- | :--- | | Net Income | $15.2 Million | | Diluted EPS | $0.50 | | ROAA | 0.81% | | ROAE | 7.90% | | Net Interest Margin (NIM) | 2.78% | | Efficiency Ratio | 62.42% | | TBVPS | $22.86 | - Net interest income **decreased 4.7%** from the prior quarter to $50.7 million[21](index=21&type=chunk) - Noninterest income **increased 15.8%** from the prior quarter to $7.7 million[21](index=21&type=chunk) - Loan production was **$234.0 million** with a weighted average interest rate of 8.02%[21](index=21&type=chunk) - The cost of interest-bearing deposits **rose 33 basis points** from the prior quarter to 4.16%[21](index=21&type=chunk) [Loan Portfolio](index=10&type=section&id=Loan%20portfolio) This section details the composition, growth, and diversification of Hanmi's loan portfolio, including deep dives into key segments like CRE and Equipment Finance [Loan Production and Portfolio Growth](index=10&type=section&id=Loan%20Production%20and%20Portfolio%20Growth) Loan production totaled $234 million in Q1 2024, and the company has demonstrated strong long-term growth with an 11% CAGR in average loans since 2013 - Q1 2024 loan production was **$234.0 million**, a decrease from $259.3 million in the prior quarter, with a weighted average interest rate on new production of **8.02%**[22](index=22&type=chunk)[23](index=23&type=chunk) - The company has achieved strong average loan growth, reflecting an **11% CAGR** from 2013 to Q1 2024[26](index=26&type=chunk)[27](index=27&type=chunk) Loan Production by Type (1Q24) | Loan Production by Type (1Q24) | Amount ($M) | | :--- | :--- | | Commercial Real Estate (CRE) | $60.1 | | Residential Mortgage (RRE) | $53.1 | | Commercial & Industrial (C&I) | $50.8 | | Equipment Finance | $39.2 | | SBA | $30.8 | [Portfolio Diversification and Composition](index=12&type=section&id=Portfolio%20Diversification%20and%20Composition) Hanmi has successfully reduced its CRE concentration from 85% to 63% since 2013, creating a more balanced and diversified $6.2 billion loan portfolio Loan Composition Shift | Loan Composition | Dec 31, 2013 | Mar 31, 2024 | | :--- | :--- | :--- | | CRE | 85% | 63% | | RRE | 5% | 16% | | C&I | 10% | 12% | | Equipment Finance | 0% | 9% | | **Total Portfolio** | **$2.23 Billion** | **$6.18 Billion** | - The CRE portfolio is diversified by property type, with **Retail (26%)**, **Hospitality (19%)**, and **Office (15%)** being the largest segments[37](index=37&type=chunk) - A significant portion of the loan portfolio matures in over 3 years (**$3.36 billion**), while $1.02 billion is set to mature in less than one year[48](index=48&type=chunk) [USKC Loans & Deposits](index=18&type=section&id=USKC%20Loans%20%26%20Deposits) The USKC portfolio includes $83.8 million in loans and $847.5 million in deposits, demonstrating strong credit quality and a stable deposit base - The USKC loan portfolio is primarily composed of **C&I (76%)** and **CRE (24%)** loans, while the deposit base is dominated by **noninterest-bearing demand (60%)** and money market/savings accounts (34%)[51](index=51&type=chunk)[52](index=52&type=chunk) [Office Loan Portfolio](index=19&type=section&id=Office%20Loan%20Portfolio) The $575.8 million CRE office portfolio exhibits strong credit metrics, with a low loan-to-value ratio and high asset quality - **Portfolio Size:** **$575.8 million** (9% of total loans)[54](index=54&type=chunk)[55](index=55&type=chunk) - **Credit Metrics:** W.A. LTV of **56.29%** and W.A. DCR of **2.03x**[54](index=54&type=chunk)[55](index=55&type=chunk) - **Asset Quality:** **No delinquent loans**; criticized loans represent only 1.53% of the office portfolio[54](index=54&type=chunk)[55](index=55&type=chunk) - **Rate Structure:** **66%** of the portfolio has a variable interest rate[54](index=54&type=chunk)[55](index=55&type=chunk) [Hospitality Segment](index=20&type=section&id=Hospitality%20Segment) The $740.2 million hospitality loan segment shows strong performance with robust debt coverage and minimal criticized or nonaccrual loans - **Portfolio Size:** **$740.2 million** (12% of total loans)[58](index=58&type=chunk)[60](index=60&type=chunk) - **Credit Metrics:** W.A. DCR of **2.2x** and W.A. LTV of **51%**[58](index=58&type=chunk)[60](index=60&type=chunk) - **Asset Quality:** Criticized loans were only **$1.9 million (0.26%)**, and nonaccrual loans were $292 thousand[58](index=58&type=chunk)[60](index=60&type=chunk) [Retail Segment](index=21&type=section&id=Retail%20Segment) Hanmi's $1.1 billion retail loan segment is geographically concentrated in California and features robust credit metrics and high asset quality - **Portfolio Size:** **$1.1 billion** (18% of total loans)[61](index=61&type=chunk)[63](index=63&type=chunk) - **Credit Metrics:** W.A. DCR of **2.02x** and W.A. LTV of **47.30%**[61](index=61&type=chunk)[63](index=63&type=chunk) - **Asset Quality:** Criticized loans were **$8.0 million (0.73%)** and nonaccrual loans were **$0.6 million (0.05%)**[61](index=61&type=chunk)[63](index=63&type=chunk) [Residential Real Estate Portfolio](index=22&type=section&id=Residential%20Real%20Estate%20Portfolio) The $970.4 million RRE portfolio is conservatively underwritten with a focus on high-quality originations, resulting in excellent asset quality - The bank's underwriting policy for RRE loans includes maximum LTVs of 60-70%, maximum DTI of 43%, and minimum FICO scores of 680[65](index=65&type=chunk) - The portfolio is **73.1% variable rate**, with 85.6% of that portion expected to reset within the next 12 months, and total delinquencies are extremely low at **0.06%**[66](index=66&type=chunk) [Equipment Finance Portfolio](index=23&type=section&id=Equipment%20Finance%20Portfolio) The $554.0 million equipment finance portfolio is well-diversified across various industries, equipment types, and geographic locations - The portfolio is diversified by industry, with the largest concentrations in **Transportation (15%)**, **Waste Management (13%)**, and **Manufacturing (12%)**[70](index=70&type=chunk) [Deposit Portfolio](index=24&type=section&id=Deposit%20portfolio) This section analyzes Hanmi's strong and growing deposit franchise, detailing its composition, cost trends, and sources of stability [Deposit Trends and Composition](index=24&type=section&id=Deposit%20Trends%20and%20Composition) Hanmi's deposit franchise shows strong long-term growth, with a significant portion of noninterest-bearing deposits and a balanced customer mix - Average deposits have grown at a **10% CAGR** since 2013, with average noninterest-bearing deposits also growing at a 10% CAGR and representing **30% of total deposits** in Q1 2024[73](index=73&type=chunk)[74](index=74&type=chunk) - The cost of interest-bearing deposits continued to rise, reaching **4.16%** in Q1 2024, up from 3.83% in Q4 2023 and 2.73% in Q1 2023[77](index=77&type=chunk) Deposit Metrics (as of 1Q24) | Deposit Metrics (as of 1Q24) | Value / Percentage | | :--- | :--- | | Total Deposits | $6.38 Billion | | Noninterest-bearing Deposits | 30% of total | | Business Deposits | 51% of total | | Estimated Uninsured Deposits | 40% of total | | Brokered Deposits | <1% of total | [Margin, Fee Income, & Expenses](index=26&type=section&id=Margin%2C%20fee%20income%2C%20expenses) This section examines the key drivers of profitability, including net interest margin, noninterest income sources, and expense management [Net Interest Income & Margin (NIM)](index=26&type=section&id=Net%20Interest%20Income%20%26%20Margin%20(NIM)) Net interest income and margin declined in Q1 2024 due to rising deposit costs, though the loan portfolio remains asset-sensitive NII and NIM Trends | Metric | 1Q23 | 4Q23 | 1Q24 | | :--- | :--- | :--- | :--- | | Net Interest Income ($M) | $57.9 | $53.1 | $50.7 | | Net Interest Margin (NIM) | 3.28% | 2.92% | 2.78% | - The decline in NIM from 2.92% in Q4 2023 to **2.78% in Q1 2024** was driven by a 30 basis point increase in the cost of interest-bearing deposits[80](index=80&type=chunk) - The loan portfolio is positioned for rising rates, with **$1.86 billion (28%)** of loans set to reprice or mature within 3 months[82](index=82&type=chunk)[84](index=84&type=chunk) [Noninterest Income](index=28&type=section&id=Noninterest%20Income) Noninterest income increased by 16% quarter-over-quarter, supported by service charges, fees, and gains on loan sales - Total noninterest income **increased to $7.7 million** in Q1 2024 from $6.7 million in Q4 2023[86](index=86&type=chunk)[87](index=87&type=chunk) 1Q24 Noninterest Income Components | 1Q24 Noninterest Income Components | % of Total | | :--- | :--- | | Service charges, fees & other | 50% | | Service charges on deposit accounts | 43% | | Gain on sale of SBA loans | 5% | | Gain on sale of mortgage loans | 5% | [Noninterest Expense](index=29&type=section&id=Noninterest%20Expense) Noninterest expense increased modestly due to seasonal factors, while the company maintains its focus on disciplined expense management - Salaries and employee benefits, the largest expense component, were **$21.6 million** in Q1 2024, up from $20.6 million in Q4 2023[89](index=89&type=chunk) - The ratio of noninterest expense to average assets increased to **1.94%** in Q1 2024 from 1.87% in the prior quarter[89](index=89&type=chunk) [Pretax, Pre-Provision Income (PTPP)](index=30&type=section&id=Pretax%2C%20Pre-Provision%20Income%20(PTPP)) Pretax, pre-provision income declined in Q1 2024, reflecting the pressure on net interest income during the period PTPP Performance | Metric | 1Q23 | 4Q23 | 1Q24 | | :--- | :--- | :--- | :--- | | PTPP ($M) | $33.4 | $24.6 | $21.9 | | PTPP / Average Assets | 1.84% | 1.31% | 1.17% | [Asset Quality](index=31&type=section&id=Asset%20quality) This section highlights Hanmi's strong and stable asset quality, characterized by low levels of criticized loans and nonperforming assets [Credit Quality Indicators](index=31&type=section&id=Credit%20Quality%20Indicators) Hanmi's asset quality remained strong in Q1 2024, with criticized loans and nonperforming assets continuing to decline to very low levels Key Credit Ratios | Metric | 1Q23 | 4Q23 | 1Q24 | | :--- | :--- | :--- | :--- | | Criticized Loans / Total Loans | 1.87% | 1.40% | 1.39% | | Delinquent Loans / Total Loans | 0.26% | 0.17% | 0.23% | | Nonperforming Assets / Total Assets | 0.30% | 0.21% | 0.19% | - Total nonperforming assets **decreased from $15.6 million** at the end of Q4 2023 to **$14.1 million** at the end of Q1 2024[97](index=97&type=chunk) [Charge-offs & Allowance for Credit Losses (ACL)](index=33&type=section&id=Charge-offs%20%26%20Allowance%20for%20Credit%20Losses%20(ACL)) Net charge-offs were minimal in Q1 2024, and the allowance for credit losses provides a solid coverage ratio of 1.11% to total loans - Net charge-offs were **$1.6 million** in Q1 2024, compared to net recoveries of $0.6 million in Q4 2023[101](index=101&type=chunk)[102](index=102&type=chunk) Allowance for Credit Losses | Metric | 1Q23 | 4Q23 | 1Q24 | | :--- | :--- | :--- | :--- | | Allowance for Credit Losses ($M) | $72.2 | $69.5 | $68.3 | | ACL to Loans | 1.21% | 1.12% | 1.11% | | Credit Loss Expense ($M) | $2.1 | ($2.9) | $0.2 | [Securities & Liquidity](index=36&type=section&id=Securities%20%26%20liquidity) This section covers the composition of the securities portfolio and the company's robust liquidity position [Securities Portfolio](index=36&type=section&id=Securities%20Portfolio) The $979 million securities portfolio is entirely classified as Available-for-Sale and has a moderate duration profile - The **$979 million** securities portfolio is composed primarily of U.S. Agency MBS Residential (72%) and U.S. Agency CMOs (13%)[111](index=111&type=chunk)[112](index=112&type=chunk) - The portfolio has a weighted average modified duration of **4.6 years** and carried a pre-tax unrealized loss of **$106 million**[111](index=111&type=chunk)[112](index=112&type=chunk) [Liquidity](index=37&type=section&id=Liquidity) Hanmi maintains a strong liquidity position with total available liquidity of $2.54 billion, equivalent to 33.8% of total assets Liquidity Position | Liquidity Source | Balance ($ millions) | | :--- | :--- | | Cash & cash equivalents | $256 | | Securities (unpledged) | $814 | | **Total Liquid Assets** | **$1,070** | | FHLB available borrowing capacity | $1,334 | | FRB discount window borrowing capacity | $22 | | Federal funds lines (unsecured) available | $115 | | **Total Secondary Liquidity Sources** | **$1,471** | | **Total Bank Liquidity** | **$2,541** | - The ratio of liquid assets to total assets was **14.2%**, and the ratio of liquid assets to deposits was **16.8%** at the end of Q1 2024[115](index=115&type=chunk) [Capital Management](index=38&type=section&id=Capital%20management) This section details Hanmi's strong capital position, with regulatory ratios significantly exceeding well-capitalized minimums [Capital Ratios and TBVPS](index=38&type=section&id=Capital%20Ratios%20and%20TBVPS) Hanmi remains well-capitalized with all regulatory capital ratios significantly exceeding minimum requirements and an increasing tangible book value per share - Tangible book value per share (TBVPS) **increased to $22.86** in Q1 2024, and the Tangible Common Equity to Tangible Assets (TCE/TA) ratio improved to **9.23%**[118](index=118&type=chunk)[119](index=119&type=chunk) Regulatory Capital Ratios (Company) | Regulatory Capital Ratios (Company) | 1Q24 | Well Capitalized Minimum | | :--- | :--- | :--- | | CET1 Capital Ratio | 12.05% | 6.50% | | Tier 1 Capital Ratio | 12.40% | 8.00% | | Total Capital Ratio | 15.20% | 10.00% | [Corporate Sustainability](index=40&type=section&id=Corporate%20Sustainability) This section outlines Hanmi's commitment to ESG principles, including strong governance, community support, and human capital diversity [ESG Overview and Governance](index=40&type=section&id=ESG%20Overview%20and%20Governance) Hanmi demonstrates a strong commitment to corporate sustainability through top-rated governance practices, community investment, and a diverse workforce - Received the **highest ISS ESG QualityScore designation** in Governance in 2022[128](index=128&type=chunk) - Recognized by Bank Director as a top-performing bank, **ranking 3** in its asset category[128](index=128&type=chunk) - **Community Support:** Made a **$7.5 million** long-term commitment to a Community Reinvestment Act fund and awarded 426 scholarships to at-risk youth[139](index=139&type=chunk) - **Human Capital:** Workforce is **68% female** and **91% ethnically diverse**[139](index=139&type=chunk) - **Board Governance:** The Board is **90% independent**, **30% female**, and **70% ethnically diverse**, with ESG oversight from a dedicated sub-committee[141](index=141&type=chunk)[144](index=144&type=chunk) [Appendix](index=44&type=section&id=Appendix) This section provides supplementary information, including details on risk management practices and reconciliations of non-GAAP financial measures [Risk Management](index=45&type=section&id=Risk%20Management) Hanmi employs robust risk management practices, including concentration monitoring and stress testing, which indicate resilience under adverse scenarios - **CRE Concentration:** The bank has **not exceeded supervisory criteria** for CRE concentration risk[149](index=149&type=chunk) - **Liquidity Stress Test:** Recent tests indicate the bank could withstand a severe stress scenario and **remain above policy minimums**[152](index=152&type=chunk) - **Capital Stress Test:** The bank's annual stress test shows capital levels **remain adequate** even in a severely adverse case[155](index=155&type=chunk) [Financial Summary & Reconciliations](index=46&type=section&id=Financial%20Summary%20%26%20Reconciliations) The appendix provides a detailed financial summary and necessary non-GAAP reconciliations for key performance and capital metrics Quarterly Financial Summary | ($ in millions, except EPS) | March 31, 2024 | Dec 31, 2023 | March 31, 2023 | | :--- | :--- | :--- | :--- | | Net interest income | $50.7 | $53.1 | $57.9 | | Net income | $15.2 | $18.6 | $22.0 | | EPS-Diluted | $0.50 | $0.61 | $0.72 | | Loans receivable | $6,178 | $6,182 | $5,980 | | Deposits | $6,376 | $6,281 | $6,201 | | Total assets | $7,512 | $7,570 | $7,434 | - The appendix provides non-GAAP reconciliations for Pretax, Pre-Provision Income (PTPP), Tangible Common Equity to Tangible Asset Ratio, and Pro Forma Regulatory Capital[158](index=158&type=chunk)[160](index=160&type=chunk)[161](index=161&type=chunk)

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 ...

30000% Loan production of $234 million for 1Q24 reflected balanced contribution from nearly all business lines, and an 8 basis point decrease in the weighted average interest rate on new production. 90000% (1) Residential mortgage includes $2.0 million, $0.0, $0.0, $0.0, and $0.3 million of consumer loans for 1Q23, 2Q23, 3Q23, 4Q23, and 1Q24, respectively (2) $34.5 million, $30.9 million, $36.1 million, $48.4 million, and $30.8 million of SBA loan production includes $22.6 million, $19.4 million, $17.6 mill ...

For the quarter ended March 2024, Hanmi Financial (HAFC) reported revenue of $58.39 million, down 11.8% over the same period last year. EPS came in at $0.50, compared to $0.72 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $58.83 million, representing a surprise of -0.76%. The company delivered an EPS surprise of -3.85%, with the consensus EPS estimate being $0.52.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall S ...