Hanmi News

  • Jul 23, 2015 Hanmi Reports Strong 2015 Second Quarter Results

    Hanmi Reports Strong 2015 Second Quarter Results



    Second Quarter Net Income Up 27% Quarter-Over-Quarter


    LOS ANGELES – July 23, 2015 – Hanmi Financial Corporation (NASDAQ: HAFC, or “Hanmi”), the holding company for Hanmi Bank (the “Bank”), today reported second quarter net income increased 26.5% to $14.0 million, or $0.44 per diluted share, compared with $11.1 million, or $0.35 per diluted share, for the first quarter of 2015 and was up 26.6% from $11.0 million, or $0.35 per diluted share, for the year-ago period.
    For the first six months of 2015, net income increased 13.6% to $25.0 million, or $0.78 per diluted share, compared with $22.0 million, or $0.69 per diluted share, for the first six months of 2014.

    Mr. C. G. Kum, President and Chief Executive Officer, said, “Our second quarter results reflect the early success of our expansion efforts and improving profitability across the enterprise. While the net growth in our loans reflected a high level of payoffs, our $208 million of organic loan production increased 54% since last quarter and was 81% higher than the second quarter last year. Our loan pipeline for the third quarter is strong. Our net income for the second quarter grew 27% to $14 million driven by our ongoing initiatives to improve operating efficiencies and reduce expenses. The platforms we have in California, Texas and Illinois together with the commencement of our Healthcare Banking Group will allow us to grow our brand, expand our customer base and generate long-term sustainable growth.”

    Click to view Full Report

    Romolo (Ron) Santarosa
    Senior Executive Vice President, Corporate Finance and Strategy
    213-427-5636

    Michael McCall
    Executive Vice President & Chief Financial Officer
    213-427-5701

    Lasse Glassen
    Investor Relations
    Addo Communications
    310-829-5400

  • Jun 29, 2015 Hanmi Bank Unveils New Corporate Logo

    Hanmi Bank Unveils New Corporate Logo



    Los Angeles, CA - June 29, 2015 - Hanmi Bank (“Hanmi”)
    , a subsidiary of Hanmi Financial Corporation (NASDAQ: HAFC), today announced the introduction of a new corporate logo. A logo unveiling ceremony will be held at 10 AM today at Hanmi’s Olympic-Crenshaw branch, 3737 W. Olympic Blvd., Los Angeles, CA 90019, which is the Bank’s first branch location. Attendees expected to attend include local community leaders, customers, bank directors and executives.

    “Founded by Korean American immigrants, Hanmi Bank has always been dedicated to helping its customers achieve the American Dream and the new logo is inspired by our rich heritage. The logo embodies our desire to connect, partner and grow with our customers. It also reflects our strong commitment to continue to serve the Korean American community, while expanding our reach to include more ethnically diverse customers throughout the U.S.,” said C. G. Kum, President & CEO of Hanmi Bank.

    Hanmi has already installed temporary signage introducing its new corporate logo at all of its California branches. Permanent signage at all branches throughout the U. S. will be implemented beginning in July. Hanmi will also roll out a public advertising campaign throughout its regions to support the new logo announcement.

    About Hanmi Financial Corporation

    Headquartered in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic communities through its network of 46 full-service branches and 6 loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington and Georgia. Hanmi Bank specializes in commercial real estate, C&I, SBA and trade finance lending to small and middle market businesses. Additional information is available at www.hanmi.com.


    CONTACT:

    Jenny Park | Corporate Marketing Manager
    Hanmi Bank
    213-427-4255
    jennyjp@hanmi.com

  • Jun 08, 2015 Hanmi Financial Corp. Appoints Romolo Santarosa as Senior Executive Vice President, Corporate Finance and Strategy

    Hanmi Financial Corp. Appoints Romolo Santarosa as Senior Executive Vice President, Corporate Finance and Strategy



    LOS ANGELES, CA – June
    8, 2015 -- Hanmi Financial Corporation (NASDAQ: HAFC) (“Hanmi”), the holding company for Hanmi Bank (the “Bank”), announced today that Mr. Romolo C. Santarosa has been hired by the Company and Bank to serve as its Senior Executive Vice President, Corporate Finance and Strategy.

    In this newly created position, Mr. Santarosa will oversee the Company’s corporate strategy, financial planning and corporate development activities, while providing additional leadership and experience to the Bank’s finance and accounting teams.

    Mr. Santarosa, 58, has over 22 years of experience in banking and financial services. Over his career, he has been responsible for leading and directing growth strategies, cost reduction and process improvement initiatives, technology implementations and capital management.  Most recently, since June 2013 he was Executive Vice President and Chief Operating Officer at Opus Bank, where he was responsible for operational and support functions. Prior to this, Mr. Santarosa served as the Senior Executive Vice President, Chief Financial Officer and Chief Operating Officer at First California Financial Group, Inc. and its bank subsidiary, First California Bank from November 2002 to May 2013. Before 2002, Mr. Santarosa served in leadership positions with several financial institutions and was an Audit Senior Manager with Price Waterhouse. Mr. Santarosa graduated from Ithaca College, with a B.S. in Accounting and a Minor in Mathematics.

    About Hanmi Financial Corporation
    Headquartered in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic communities through its network of 46 full-service branches and 6 loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington and Georgia. Hanmi Bank specializes in commercial real estate, C&I, SBA and trade finance lending to small and middle market businesses. Additional information is available at www.hanmi.com.

    CONTACT:

    Lasse Glassen
    Investor Relations
    Addo Communications
    310-829-5400

    Michael McCall
    EVP & Chief Financial Officer
    213-427-5701


  • May 01, 2015 Hanmi Financial Corp. Announces the Opening of Two New Loan Production Offices in New York and Georgia

    Hanmi Financial Corp. Announces the Opening of Two New Loan Production Offices in New York and Georgia




    LOS ANGELES, CA – May 1, 2015 -- Hanmi Financial Corporation (NASDAQ: HAFC)
    (“Hanmi”), the holding company for Hanmi Bank (the “Bank”), today announced that it has opened two new Loan Production Offices (LPOs) in New York and Georgia. With the addition of these locations, Hanmi now has a total of six LPOs serving customers nationwide.

    Chris Hwang, SVP and New York Corporate Banking LPO Manager, will lead the New York LPO located at 1140 Avenue of the Americas, 9th Floor, New York, New York. The New York LPO will focus on middle market and C&I loans. Mr. Hwang joined the Hanmi team in January 2015 and has more than 25 years of experience in community banking, serving in several senior level banking/relationship management roles at East West Bank, TD Bank, N.A., Flushing Bank, Korea First Bank, and Long Island Savings Bank. Mr. Hwang earned his Masters of Science in Accounting from the C.W. Post College of Long Island University and completed the Graduate Commercial Lending School for the American Bankers Association at Southern Methodist University.

    A new LPO has also been opened at 3700 Crestwood Parkway, Suite 360, Duluth, Georgia. James Lee, FVP and Georgia LPO Manager, will lead the Georgia LPO, which will focus on SBA loans. Mr. Lee, who joined Hanmi in January 2015, has a decade of experience in mortgage, commercial, and SBA lending, having served as a LPO manager at Wilshire Bank and in loan officer roles at JS Capital Group and Centro Mortgage, Inc. Mr. Lee earned his Masters of Science in Quantitative Computational Finance from the Georgia Institute of Technology.

    About Hanmi Financial Corporation
    Headquartered in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic communities through its network of 46 full-service branches and 6 loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington and Georgia. Hanmi Bank specializes in commercial real estate, C&I, SBA and trade finance lending to small and middle market businesses. Additional information is available at www.hanmi.com.


    CONTACT:

    Christina C. Lee
    FVP & Senior Strategy Officer
    213-427-5631

    Lasse Glassen
    Investor Relations
    Addo Communications
    310-829-5400



  • Apr 23, 2015 Hanmi Reports Strong 2015 First Quarter Results

    Hanmi Reports Strong 2015 First Quarter Results



    First Quarter Net Income of $11.1 Million, Up 86.5% Quarter-Over-Quarter

    LOS ANGELES – April 23, 2015 – Hanmi Financial Corporation (NASDAQ: HAFC, or “Hanmi”), the holding company for Hanmi Bank (the “Bank”), today reported first quarter 2015 results. For the quarter, net income increased 86.5% to $11.1 million, or $0.35 per diluted share, compared to $5.9 million, or $0.19 per diluted share, in the fourth quarter 2014 and was up 0.6% from $11.0 million, or $0.34 per diluted share, in the year-ago period. In the first quarter 2015, pretax income from continuing operations grew 125.9% to $18.6 million from $8.2 million in the fourth quarter 2014 but was down 1.2% from $18.8 million in the year-ago period.

    Mr. C. G. Kum, President and Chief Executive Officer, said, “We are off to a good start in 2015. First quarter net income of $11.1 million increased 86.5% from the prior quarter driven by a $5.4 million reduction in noninterest expense. We expect ongoing expense reduction initiatives currently underway will continue to improve our financial performance as we transform Hanmi into a nationwide community bank. To this end, we are making good progress integrating the acquisition of Central Bancorp, Inc. (“CBI”) and building out our asset generating platform in the former CBI markets. In doing so, we have created a platform that will enable the Hanmi franchise to generate sustainable growth well into the future.”

    Click to view full report.

    Contact:

    Michael McCall
    EVP & Chief Financial Officer
    213-427-5701

    Christina Lee
    FVP & Senior Strategy Officer
    213-427-5631

    Lasse Glassen
    Investor Relations (Addo Communications)
    310-829-5400



  • Feb 09, 2015 Hanmi Bank completes system integration with United Central Bank

    Hanmi Bank completes system integration with United Central Bank


    Hanmi Financial Corp. Announces Completion of System Conversion Following the Acquisition of Central Bancorp, Inc.

    LOS ANGELES, CA – February 9, 2015 -- Hanmi Financial Corporation (NASDAQ: HAFC) (“Hanmi”), the holding company for Hanmi Bank (the “Bank”), today announced that as of this past weekend, Hanmi successfully completed the conversion of Central Bancorp, Inc.’s (CBI) systems into Hanmi’s existing systems.  The acquisition of CBI, the parent company of United Central Bank, was completed on August 31, 2014.

    “Following the completion of Hanmi’s acquisition of CBI, we have been working diligently to integrate our combined operations,” said C. G. Kum, President and Chief Executive Officer. “These efforts culminated with the successful completion of our system conversion this past weekend.  I am very pleased that this process proceeded smoothly and was completed on-schedule.”

    About Hanmi Financial Corporation

    Headquartered in Los Angeles, Hanmi Bank, a wholly-owned subsidiary of Hanmi Financial Corporation, provides services to the multi-ethnic communities across California, Texas, Illinois, Virginia and New Jersey with 46 full-service branches as well as five loan production offices in California, Colorado, Texas, Virginia, and Washington State. Hanmi Bank specializes in commercial, SBA and trade finance lending, and is a recognized community leader. Hanmi Bank's mission is to provide a full range of quality products and premier services to its customers and to maximize shareholder value. Additional information is available at www.hanmi.com.

    CONTACT:

    Christina C. Lee

    FVP & Senior Strategy Officer

    213-427-5631

    Lasse Glassen

    Investor Relations-Addo Communications

    310-829-5400


  • Feb 05, 2015 Hanmi Reports 2014 Full-Year Financial Results

    Hanmi Reports 2014 Full-Year Financial Results





    Full-Year Net Income of $49.8 Million, Up 24.8% Year-Over-Year
    Loan Portfolio Increases to $2.74 Billion, Up 25.7% Year-Over-Year
    Integration of Central Bancorp, Inc. Remains On Track

    LOS ANGELES – February 5, 2015 – Hanmi Financial Corporation (NASDAQ: HAFC, or “Hanmi”), the holding company for Hanmi Bank (the “Bank”), today reported solid growth in 2014.  For the full year 2014, net income increased 24.8% to $49.8 million, or $1.56 per diluted share, compared to $39.9 million, or $1.26 per diluted share a year ago.  In 2014, pretax income from continuing operations grew 16.1% to $72.6 million from $62.5 million in 2013.

    Hanmi’s acquisition of Central Bancorp, Inc. (“CBI”), the parent company of United Central Bank, was completed on August 31, 2014. The combined companies began operating as Hanmi Financial Corporation and Hanmi Bank, respectively, with banking operations conducted under the Hanmi Bank brand effective as of September 1, 2014. The 2014 financial results reflect eight months of stand-alone operations of Hanmi and four months of combined operations.  Hanmi’s accounting for this business combination is incomplete and has been recorded based on provisional amounts.  The accounting is updated during the measurement period to reflect new information obtained about facts and circumstances that existed at the acquisition date.  Adjustments to the provisional amounts during the measurement period are recognized as retrospective adjustments as of the date of the acquisition.  During the fourth quarter Hanmi identified a retrospective adjustment of $8.0 million to the bargain purchase gain that was provisionally reported for the third quarter of 2014.  This retrospective adjustment revises the reported third quarter net income to $21.2 million from $13.3 million as previously reported.

    Fourth quarter 2014 net income totaled $6.5 million, or $0.20 per diluted share, compared $21.2 million, or $0.66 per diluted share, in the third quarter of 2014 and $9.9 million, or $0.31 per diluted share, in the fourth quarter a year ago.

    Full year financial results reflect the impact of the following significant items recorded in conjunction with the CBI acquisition:
    • $14.6 million provisional bargain purchase gain recorded in 2014
    • $6.6 million in merger and integration related expenses in 2014
    • $7.6 million in professional fees for the year, which included significant costs to strengthen our infrastructure and to meet heightened control standards

    Mr. C. G. Kum, President and Chief Executive Officer, said, “2014 was a transformative year for Hanmi highlighted by the acquisition of CBI, strong loan growth and solid credit quality to help continue the growth trajectory across our enterprise. Full year profitability increased sharply with net income of $49.8 million, up 24.8% from 2013.  Strong organic loan production from the legacy Hanmi team helped expand our loan portfolio by 25.7% to $2.74 billion at year end.  Credit quality improved throughout the year with classified loans, excluding PCI loans, declining 42.0% during the year to $47.7 million, or 1.71% of gross loans at year end. Importantly, our activities to integrate the acquisition of CBI into Hanmi are proceeding as planned.” 



  • Dec 23, 2014 Hanmi Bank Opens Loan Center in Fremont

    Hanmi Bank Opens Loan Center in Fremont



    Hanmi Bank opened a new Northern California Loan Center and SBA LPO on November 3rd, and held a grand opening ceremony at the Marriot Fremont on December 19th. The loan center is located right in Fremont in between the San Francisco and Silicon Valley branches, and will cater loans regarding mortgage, SBA, international trade financing, and more. Headed by Northern California District Leader Man-Sun Cho and powered by 6 employees, it is a one-stop hub for customers to experience tailored services from consultation to finalization of the loan process.  New SBA LPO manager Peter Shin has also recently joined the team to lead SBA loan production.

    A total of 50 guests attended the grand opening ceremony, including the San Francisco Consulate General Dong Man Han, President of the Federation of Korean Associations USA Angela Chung Soon Lee, leaders of the S. F., Silicon Valley, and Monterey Korean American Federations, and Indo-Pakistani community leaders and media including Jeevan Zutshi and Sikh Guardwara.

    CEO C. G. Kum states, “Northern California is a strategically important area for business. It is our hope that customers in this area will find even more convenience through the addition of this loan center on top of our existing branches. In addition, with the acquisition of UCB, we will aggressively market to our widened multi-ethnic customer pool.”

    Hanmi Bank now has a total of 5 LPO’s in Seattle, Dallas, Virginia, Colorado, and Northern California, and 49 branches across 7 states



    Hanmi Bank Northern CA Loan Center
    39420 Liberty Street, Suite 250
    Fremont, CA 94538
    Tel: 510-824-7016
    Fax: 510-824-7006

    Center Hours: Monday to Friday 8:30am - 5:30pm


    (5th from L to R): SF General Consul Dong-Man Han, CEO C. G. Kum, President of The Federation of Korean Associations USA Angela Lee




  • Dec 15, 2014 Hanmi Bank celebrates 32nd Anniversary

    Hanmi Bank celebrates 32nd Anniversary


    Hanmi Bank held a 32nd Anniversary celebration on Monday, December 15, 2014 at its very first branch on Olympic and Crenshaw.  The branch was decorated with a mini gallery, showing the bank's history since its founding since 1982, up to the acquisition of UCB this year.  A brief ceremony was held, honoring employees and customers who were with the bank since its opening with flowers and award plaques.

    Chairman Joseph K. Rho gave a welcoming speech saying that "Hanmi Bank has been supporting the growth of the businesses of Korean immigrants since its founding.  Though the bank went through many trying times for the past 30 years, it is now a nationwide institution with 49 branches across the nation."

    President and CEO C. G. Kum also gave his remarks, "Hanmi's deeply rooted history and relationship with the community has always been the bank's pride.  It is our hope that we will continue to shine in communities nationwide."

    Refreshments and promotion items were handed out for customers who visited the bank.



    (L to R): HR Joan Lee, Western Branch Mgr. Helen Kim, Audit Mimi Park


    (L to R): CEO C. G. Kum, Jung-Ha Lee (on behalf of customer Eun-Ae Paik), customer Kyung-Hee Chung, Chairman Joseph K. Rho, Susan Cho (on behalf of customer In-Hwa Ahn) 



    (L to R): CEO C. G. Kum, First Chairman Ji-Choi Cho, Chairman Joseph K. Rho, Directors I-Joon Ahn, David Rosenblum, & Joon-Hyung Lee 


    (L to R): CEO C. G. Kum, First Chairman Ji-Choi Cho, Chairman Joseph K. Rho, Directors I-Joon Ahn, David Rosenblum, Paul Kim, & Joon-Hyung Lee 



  • Nov 12, 2014 Hanmi Financial Corp. Appoints Michael McCall as Chief Financial Officer

    Hanmi Financial Corp. Appoints Michael McCall as Chief Financial Officer



    LOS ANGELES, CA – November 12, 2014 -- Hanmi Financial Corporation (NASDAQ: HAFC) (“Hanmi”), the holding company for Hanmi Bank (the “Bank”), today announced that Michael W. McCall has been appointed Executive Vice President & Chief Financial Officer (“CFO”), effective November 12, 2014. As CFO, Mr. McCall will oversee Hanmi’s finance and accounting functions, as well as investor relations.

    “We are delighted to welcome Michael as CFO,” said C. G. Kum, President and Chief Executive Officer.  “Michael brings a wealth of expertise to Hanmi.  He has strong leadership capabilities with excellent financial, accounting and operational acumen in the banking industry.  Given his significant experience with banks involved in mergers and acquisitions, Michael is particularly well-suited to lead Hanmi’s complex accounting and financial reporting activities now that we have completed our acquisition of United Central Bank, a wholly-owned subsidiary of Central Bancorp, Inc.”

    Michael McCall brings more than 35 years of experience in banking and financial services to Hanmi. Most recently, Mr. McCall served as Senior Vice President and Principal Accounting Officer at BBCN Bank, where he managed the accounting and financial reporting functions for the bank and its holding company.  Prior to BBCN Bank, he held numerous leadership positions in the banking sector.   Mr. McCall earned his B.A. from the University of California, Los Angeles.

    "I look forward to leading Hanmi’s finance team as we integrate our recent acquisition and move forward with our goals of expanding the business, reducing balance sheet risk and improving operational efficiencies," said Mr. McCall.



    About Hanmi Financial Corporation 
    Headquartered in Los Angeles, Hanmi Bank, a wholly-owned subsidiary of Hanmi Financial Corporation, provides services to the multi-ethnic communities across California, Texas, Illinois, Virginia, New Jersey and New York with 49 full-service branches as well as loan production offices in Colorado, Texas, Virginia, and Washington State. Hanmi Bank specializes in commercial, SBA and trade finance lending, and is a recognized community leader. Hanmi Bank's mission is to provide a full range of quality products and premier services to its customers and to maximize shareholder value. Additional information is available at www.hanmi.com.

    Contact:
    Christina C. Lee
    FVP & Senior Strategy Officer
    213-427-5631

    Lasse Glassen
    Investor Relations
    Addo Communications
    310-829-5400


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