Financial Data and Key Metrics Changes - The company reported net income of $108.8 million or $1.08 per diluted share in Q4 2025, compared to $71.4 million or $0.69 per diluted share in Q3 2025 [15] - Net interest income decreased by $0.4 million or 0.2% to $206.4 million compared to the prior quarter, and decreased by $7.9 million or 3.7% compared to Q4 2024 [15][16] - Non-interest income was $106.6 million, an increase of $62.9 million from the prior quarter, driven by a gain on sale of $62.7 million associated with divestitures [17] - Non-interest expense was $166.7 million for Q4 2025, an increase of $8.8 million from the prior quarter [17] Business Line Data and Key Metrics Changes - Loans decreased by $632.8 million in Q4 2025, including $62.8 million from the indirect portfolio and $72.5 million in loans moving to held for sale due to branch sales [19] - Total deposits decreased by $516.7 million to $22.1 billion as of December 31, 2025, primarily driven by the sale of $641.6 million of deposits in the Arizona and Kansas transaction [19] Market Data and Key Metrics Changes - The ratio of loans held for investment to deposits was 68.8% at the end of Q4 2025, down from 70.1% at the end of Q3 2025 [20] - The company maintained a proactive approach to credit, with criticized loans decreasing by $112.3 million or 9.6% in Q4 2025 [9] Company Strategy and Development Direction - The company is refocusing capital investment and optimizing its balance sheet by exiting markets with lower growth potential and enhancing its presence in high-potential areas [6][10] - A new, flatter organizational structure is being implemented to improve decision-making and support organic growth [12] - The company plans to continue share repurchases as a priority for capital allocation, with an increased authorization of $300 million [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for organic growth in 2026, driven by a redesigned banking organization and improved credit culture [32][54] - The company anticipates a slight decline in total loans for 2026, with expectations for modest growth in the latter half of the year [24][25] - Management highlighted the importance of maintaining disciplined credit practices to enhance long-term shareholder value [56] Other Important Information - The company declared a dividend of $0.47 per common share, equating to a 5.7% annualized yield based on the average closing price during Q4 2025 [22] - The Common Equity Tier 1 capital ratio ended Q4 2025 at 14.38%, an increase of 48 basis points from the prior quarter [22] Q&A Session Summary Question: Loan balances and production outlook - Management noted that a significant portion of the decline in loan balances was due to payoffs of criticized loans, which is viewed positively [31] - There is confidence in improved loan production due to a reorganization of the banking structure and increased focus on organic growth [32] Question: Margin expectations - Management expects net interest margin to improve sequentially, with a target of north of 3.5% by the end of 2026 [34] Question: Credit quality and criticized loans - Management indicated that criticized loans have stabilized and are expected to continue trending down, although variability is inherent in credit [41][52] Question: Expense guidance - Management anticipates flat to slightly lower expenses in 2026, with a focus on maintaining discipline across controllable expenses [26][45] Question: Market expansion and hiring - The company is confident in its current footprint and plans to continue hiring in growth markets like Colorado [61][62]

Financial Data and Key Metrics Changes - The company reported a net income of $22.7 million or $0.79 per share for Q4 2025, a 21.5% increase compared to Q4 2024, resulting in a record earnings per share of $3.13 for the year [3] - Loan outstandings grew by $129.3 million during Q4 2025, with a 7.6% annualized growth rate [5] - Non-accrual loans to total loans declined by 20 basis points to 0.2%, and non-performing assets to total assets declined by 16 basis points to 0.45% [4] Business Line Data and Key Metrics Changes - Loans grew by $88.2 million, or 1.3%, for the full year of 2025 [6] - Non-interest expense increased by $2.1 million, or 4.1%, compared to Q4 2024, with total non-interest expense for 2025 at $203 million [7] Market Data and Key Metrics Changes - Deposits decreased by $130.8 million in Q4 2025, primarily due to a $198.8 million decrease in public funds, partially offset by an $84 million increase in consumer balances [6] - Total deposits grew by $328.1 million, or 4.9%, for the full year of 2025 [6] Company Strategy and Development Direction - The company plans to repurchase approximately $10 million-$12 million of shares per quarter in 2026, with 2.3 million shares available for repurchase under the current plan [8] - The company is targeting loan growth of approximately 2%-3% and modest net interest margin (NIM) expansion for 2026, expecting net interest income growth of approximately 4%-6% [9] Management's Comments on Operating Environment and Future Outlook - Management expects $100 million-$150 million in public funds to flow out in Q1 and Q2 2026, with a significant portion of excess liquidity expected to be deployed during this period [15] - The company anticipates a relatively stable environment with modest Fed actions not expected to materially impact net interest income [9] Other Important Information - The provision for credit losses for 2026 is expected to be in the range of $11 million-$13 million, reflecting changes in economic forecasts and credit performance [9] - The effective tax rate is expected to be in the range of 20%-21% based on current statutory rates [10] Q&A Session Summary Question: What is the seasonality for deposits in Q1? - The company expects $100 million-$150 million in public funds to flow out in Q1 and Q2, with significant deployment of excess liquidity [15] Question: How should we think about the NIM trajectory over the course of the year? - The company expects NIM to be relatively in line to slightly up compared to Q4 2025, with overall expansion anticipated for 2026 [16] Question: What are you seeing in terms of deposit competition? - Competition remains, with slight increases noted, but the company has been successful in retaining CDs and is working to acquire more operating accounts [19][20] Question: Can you review your ag farmland portfolio? - The ag portfolio consists of smaller family farms with a conservative underwriting approach, and the company has a diversified business underlying these loans [22] Question: What are you seeing regarding spread compression? - The company has seen some compression on the commercial side, with new loan rates down by 40-50 basis points, but has not experienced true spread compression [28] Question: Can you discuss the deposit pipeline and initiatives? - The company is making progress with commercial lending and small business initiatives, aiming to capture more deposits and improve the mix of operating accounts [42][44]

Financial Data and Key Metrics Changes - The company reported net income of $22.7 million or $0.79 per share for Q4 2025, a 21.5% increase compared to Q4 2024, resulting in record earnings per share for the year of $3.13 [3] - Loan outstandings grew by $129.3 million during Q4 2025, with solid loan growth as early payoffs and paydowns eased back to normal levels [3][4] - The reported net interest margin (NIM) decreased by 7 basis points to 3.10% compared to Q3 2025, while core NIM increased by 4 basis points to 3.37% [5] Business Line Data and Key Metrics Changes - Loans grew by $129.3 million during Q4 2025, or 7.6% annualized, while total loans for the full year increased by $88.2 million, or 1.3% [5][6] - Non-interest expense increased by $2.1 million, or 4.1% compared to Q4 2024, with full-year expenses rising by $5 million, or 2.5% [7] Market Data and Key Metrics Changes - Deposits decreased by $130.8 million in Q4 2025, primarily due to a $198.8 million decrease in public funds, partially offset by an $84 million increase in consumer balances [6] - Total deposits grew by $328.1 million, or 4.9%, for the full year of 2025 [6] Company Strategy and Development Direction - The company plans to target repurchases of $10 million-$12 million per quarter in 2026, with 2.3 million shares available for repurchase under the plan [8][9] - For 2026, the company expects loan growth of approximately 2%-3% and modest NIM expansion, resulting in net interest income growth of approximately 4%-6% [9][10] Management Comments on Operating Environment and Future Outlook - Management noted that the provision for credit losses is expected to be in the range of $11 million-$13 million for 2026, driven by changes in economic forecasts and credit performance [10] - The effective tax rate is expected to be in the range of 20%-21% based on current statutory rates [10] Other Important Information - The company repurchased approximately 400,000 shares of common stock at an average cost of $32.17 per share during Q4 2025 [7][8] - The company recorded a provision for credit losses of $3.1 million in Q4 2025, with a coverage ratio of 1.28% [6] Q&A Session Summary Question: What is the seasonality for deposits in Q1? - Management expects $100 million-$150 million per quarter in public funds to flow out in Q1 and Q2, with a significant portion of excess liquidity deployed during that time [15][16] Question: How should we think about the NIM trajectory over the course of the year? - Management expects NIM to be relatively in line to slightly up by the end of 2026 compared to Q4 2025, with overall expansion anticipated [18][19] Question: What are you seeing in terms of deposit competition? - Competition remains, with some slight increases noted. The company has been successful in CD retention and is working to change the mix of deposits [21][22] Question: Can you review your ag farmland portfolio? - The ag book consists of smaller family farms diversified across various sectors, with a conservative underwriting approach and a diversified business underlying the loans [23] Question: Can you discuss the margin and incremental loan yields? - Management noted some compression on the commercial side, with new loan rates down by 40-50 basis points, but no true spread compression observed [28][29] Question: What is the expected provision level for next year? - The provision is expected to normalize in the 12-13 basis point range, with guidance provided for the year [40] Question: Can you talk about the deposit pipeline and initiatives? - The company is making progress with various initiatives aimed at capturing deposits from small businesses and other targeted programs [42][44]

Q4 2025 Update January 29, 2026 Q4 2025 Highlights "The fourth quarter represented our 24th consecutive quarter of free cash flow generation, highlighting our Sustainable Business Model and consistent execution that are the cornerstones of growing our long-term per share value," commented Alan Shepard, President & CEO. "We continue to believe that our share repurchase program represents a compelling capital allocation opportunity, and as such, we are announcing an additional $2 billion share repurchase auth ...

Core Viewpoint - Hanmi Financial Corporation has declared a cash dividend of $0.28 per share for the first quarter of 2026, representing a 4% increase from the previous quarter, and has expanded its share repurchase authorization to approximately 2.3 million shares, reflecting confidence in its financial strength and commitment to enhancing stockholder returns [1][2]. Dividend Announcement - The cash dividend of $0.28 per share will be paid on February 25, 2026, to stockholders of record as of February 9, 2026 [1]. - This dividend increase indicates the Board's confidence in the company's financial outlook [2]. Share Repurchase Program - The company has expanded its share repurchase authorization by 1.5 million shares, bringing the total repurchase capacity to approximately 2.3 million shares, which is about 7.8% of shares outstanding as of December 31, 2025 [2]. - The repurchase program allows for shares to be bought back in the open market or through private transactions, and management will decide on repurchases based on market conditions and other factors [3][4]. Company Overview - Hanmi Financial Corporation is headquartered in Los Angeles, California, and owns Hanmi Bank, which serves multi-ethnic communities through a network of 32 full-service branches and additional loan production offices across several states [5]. - The bank specializes in real estate, commercial, SBA, and trade finance lending to small and middle-market businesses [5].

Core Viewpoint - KANZHUN LIMITED is actively executing its share repurchase program, demonstrating a commitment to enhancing shareholder returns through significant financial investment [1]. Group 1: Share Repurchase Program - The company has utilized over RMB20 million to repurchase 315,908 ordinary shares as part of its ongoing share repurchase initiative [1]. - Under the existing repurchase program, KANZHUN LIMITED may repurchase up to USD250 million worth of its shares by the end of August 2026 [1].

Core Viewpoint - KANZHUN LIMITED is actively executing its share repurchase program, demonstrating a commitment to enhancing shareholder returns [1] Group 1: Share Repurchase Program - The company has utilized over RMB20 million to repurchase 315,908 ordinary shares [1] - Under the existing repurchase program, KANZHUN LIMITED may repurchase up to USD250 million worth of its shares by the end of August 2026 [1]

Financial Data and Key Metrics Changes - The company delivered 3,435 residential units in Q4 2025, exceeding guidance, with a total of 10,792 units delivered for the full year [4] - Net income for Q4 was $36 million, or $1.21 per diluted share, with adjusted net income at $47 million, or $1.59 per diluted share [19] - Home sales revenues for Q4 reached $1.1 billion, up 16% sequentially, while average sales price decreased by 5% to $367,000 [19][20] - The company reduced net leverage to 26% and generated cash flow from operations of over $150 million [5] Business Line Data and Key Metrics Changes - The Century Living segment contributed to revenues with the sale of a 300-unit multifamily community for $97 million [20] - The company achieved a record net new contracts of 2,702 homes in Q4, a 10% increase year-over-year and a 13% increase sequentially [9] - Direct construction costs decreased by an average of $13,000 per home, and cycle times improved to a record 114 calendar days [6][12] Market Data and Key Metrics Changes - The mortgage capture rate was 84% for both Q4 and the full year, representing records for the company [22] - Adjustable rate mortgages accounted for approximately 25% of originated mortgages in Q4, up from nearly 20% in Q3 [11] Company Strategy and Development Direction - The company plans to grow deliveries by 10% annually in 2026 and 2027 based on existing lot counts, assuming improved market conditions [6][15] - A disciplined approach will be maintained in slower market conditions, focusing on flexibility in land acquisition and development [7][15] - The company aims to deepen its market share in existing markets to drive improved margins and returns [17] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the spring selling season, noting improved order activity and potential consumer interest [28][30] - The company remains cautious, acknowledging that previous expectations for strong sales did not materialize last year [28][52] - Management highlighted the importance of external factors such as interest rate relief and consumer confidence in driving demand [7] Other Important Information - The company repurchased over 7% of its shares outstanding at the beginning of the year and returned a record $178 million to shareholders through dividends and share repurchases [5][23] - The average community count increased by 13% to 318 communities, with expectations for low- to mid-single-digit percentage growth in 2026 [12][14] Q&A Session Summary Question: Insights on the spring selling season and consumer behavior - Management noted that while January sales pace has been slower, order activity has improved sequentially, and there is hope for a better spring selling season [27][28] Question: Expectations for gross margin in the upcoming quarter - Management indicated that gross margins may see a slight pullback due to incentives but expect a more balanced approach moving forward [39] Question: Geographic performance trends - Management did not identify specific regions outperforming others but noted increased traffic driven by mortgage rate trends [40] Question: Remaining stock repurchase authorization - Approximately 1.5 million shares remain under the stock repurchase program [42] Question: Factors influencing SG&A as a percentage of sales - Management explained that Q1 is typically the lowest closing quarter, contributing to a higher percentage of SG&A [49] Question: Confidence in dialing back incentives - Management expressed caution, indicating that they will need to monitor market conditions closely before adjusting incentives [52]

Financial Data and Key Metrics Changes - Marina Bay Sands achieved an EBITDA of $806 million, marking the highest quarter in the history of casino hotels, with a total EBITDA exceeding $2.9 billion for the year [5] - Macau delivered an EBITDA of $608 million for the quarter, with an adjusted EBITDA margin of 28.9%, down 390 basis points compared to Q4 2024 [8][9] - The mass gaming revenue in Singapore exceeded $951 million, up 118% from Q4 2019 and up 27% from Q4 last year [5] Business Line Data and Key Metrics Changes - In Singapore, Marina Bay Sands had an EBITDA margin of 50.3%, with a potential EBITDA reduction of $45 million if the rolling program had held as expected [9] - Macau's mass market revenue share exceeded 25%, with a focus on premium segments driving growth [7] - The Venetian's EBITDA margin was reported at 32.3%, while The Londoner's margin was 28.8% [8] Market Data and Key Metrics Changes - The Macau market is currently driven by the premium segment, with a noted increase in rolling business as a proportion of total gaming [19] - The promotional environment in Macau has become more competitive, particularly in the premium segments [31][33] - Property visitation across Sands China exceeded 2019 levels, approaching 100 million visitations in 2025 [103] Company Strategy and Development Direction - The company is focused on delivering revenue and cash flow growth across its portfolio, leveraging scale and product advantages [8] - Continued investment in Singapore and renovations are planned to enhance service models and customer experience [17] - The company is exploring new development opportunities in markets like Japan but is currently focused on existing properties [61] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth trajectory in Singapore, citing a strong customer base and high-quality offerings [15][46] - In Macau, management acknowledged challenges in the base mass segment but noted improvements in premium segments and overall market positioning [25][90] - The company aims to maintain a low 30% margin business model while focusing on revenue growth and long-term health [96] Other Important Information - The company repurchased $500 million of LVS stock during the quarter and paid a recurring quarterly dividend of $0.25 per share [9] - The company increased its ownership percentage of SCL to 74.8% as of December 31, 2025 [10] - Rob Goldstein will serve as a senior advisor to the company for the next two years after his tenure as CEO [108] Q&A Session Summary Question: What is driving the strong quarter in Singapore? - Management attributed the success to the property's offerings and an increase in customer visits, with no significant changes needed in operations [15][16] Question: What is the outlook for Macau's EBITDA margins? - Management indicated that margins are expected to be in the low 30% range, influenced by the mix of play and promotional activities [96] Question: How is the promotional environment in Macau evolving? - The promotional environment has become more competitive, particularly in premium segments, but management sees stabilization in the current quarter [31][33] Question: Are there any impacts from the NBA activities on operating expenses? - Higher event costs were noted due to the NBA activities, which were successful but did impact margins [71][72] Question: What is the strategy for the base mass segment in Macau? - Management acknowledged the stagnant growth in the base mass segment but is focusing on leveraging assets and enhancing customer engagement to stimulate higher spending [105][106]

Financial Data and Key Metrics Changes - Marina Bay Sands achieved an EBITDA of $806 million, marking the highest quarter in the history of casino hotels, with a total EBITDA exceeding $2.9 billion for the year [4] - Macau delivered an EBITDA of $608 million for the quarter, with an adjusted EBITDA margin of 28.9%, down 390 basis points compared to Q4 2024 [6][8] - The company repurchased $500 million of LVS stock during the quarter and paid a recurring quarterly dividend of $0.25 per share [7] Business Line Data and Key Metrics Changes - Mass gaming in Singapore reached $951 million for the quarter, up 118% from Q4 2019 and up 27% from Q4 last year [4] - Macau's mass market revenue exceeded 25% share for the quarter, up 23.6% in the first quarter of 2025 [5] - The Venetian's EBITDA margin was 32.3%, while The Londoner's margin was 28.8% [6] Market Data and Key Metrics Changes - The Macau market is currently driven by the premium segment, with a focus on rolling and non-rolling segments [5][6] - The promotional environment in Macau has become more intense, particularly in the premium segments [31] Company Strategy and Development Direction - The company is focused on maximizing asset performance and achieving $700 million per quarter in Macau [5] - Continued investment in Singapore and renovations to enhance service offerings are planned [16] - The company is exploring new development opportunities in markets like Japan but is currently focused on existing properties [60] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the growth trajectory in both Singapore and Macau, citing strong customer demand and market positioning [24][46] - The company acknowledged challenges in the base mass segment but remains committed to improving revenue and EBITDA [97] - Management emphasized the unpredictability of future performance but noted a strong belief in the potential for continued growth [46] Other Important Information - The company increased its ownership percentage of SCL to 74.8% as of December 31, 2025 [9] - The impact of the NBA events in Macau was noted as a significant success, contributing to brand projection and stakeholder engagement [70] Q&A Session Summary Question: What is driving the strong quarter in Singapore? - Management attributed the success to the property's offerings and an increase in customer visits, with no significant changes needed in operations [14][16] Question: What is the outlook for Macau's EBITDA recovery? - Management indicated that they are focused on customer growth and revenue, with a positive trajectory expected despite current margin pressures [22][24] Question: How is the promotional environment in Macau evolving? - The promotional environment remains intense, particularly in premium segments, but management sees stabilization in promotional intensity [31][32] Question: Are there any concerns about the World Cup affecting traffic? - Management believes the World Cup will not significantly impact traffic, as customers can engage with the event remotely [55] Question: What is the strategy for the base mass segment? - Management noted that while visitation remains strong, spend per head in the base mass segment has declined, and they are working on initiatives to stimulate higher spending [102]