Hanmi News

  • Aug 06, 2014 Hanmi Financial Receives CDBO approval

    Hanmi Financial Receives CDBO approval



    On August 1, 2014, Hanmi Financial Corporation, a Delaware corporation (the “Corporation”) and the parent company of Hanmi Bank (“Hanmi Bank”), a California state-chartered bank, received a waiver of the application requirements under the Bank Holding Company Act of 1956 from the Federal Reserve Bank of San Francisco (the “Federal Reserve Bank”), acting on delegated authority from the Board of Governors of the Federal Reserve System, in connection with the proposed merger of Central Bancorp, Inc., a Texas corporation (“CBI”) with and into the Corporation and the proposed merger of United Central Bank (“UCB”), the Texas state-chartered bank subsidiary of CBI, with and into Hanmi Bank.

    On August 4, 2014, the California Department of Business Oversight (the “CDBO”) approved Hanmi Bank’s application to merge with UCB.  With the receipt of the waiver from the Federal Reserve Bank and the notice of approval from the CDBO, the Corporation and Hanmi Bank, which had previously announced receipt of
    approval for the merger from the Federal Reserve Bank under the Bank Merger Act on July 17, 2014, have received all necessary regulatory clearances to consummate the mergers.

    “This is a momentous occasion for Hanmi Financial Corporation and Hanmi Bank,” said President and Chief Executive Officer, C. G. Kum. “I am extremely pleased that the regulatory approvals process went smoothly. With the anticipated completion of the merger, Hanmi is taking a significant step towards establishing its brand presence on a nationwide scale. Through the expansion of our regional networks, we can continue to serve an increasingly diverse customer base and support the growth of the local communities we serve.”

    The transaction, which was announced on December 16, 2013 and approved by the shareholders of CBI on April 17, 2014, is expected to be completed on August 31, 2014, subject to the satisfaction of other customary closing conditions. The combined companies will operate as Hanmi Financial Corporation and Hanmi Bank, respectively, with banking operations conducted under the Hanmi Bank brand.


    Contact:
    Jenny Park, Marketing Manager (213-427-4255) 
    Katie Kwon, Creative Strategy Officer (213-368-3237)



  • Jul 22, 2014 Hanmi Earns $11.0 Million, or $0.35 per Share, in 2Q14

    Hanmi Earns $11.0 Million, or $0.35 per Share, in 2Q14



    Profits from Continuing Operations Increase to $11.5 Million in 2Q14

    LOS ANGELES – July 22, 2014 – Hanmi Financial Corporation (NASDAQ: HAFC, or “Hanmi”), the holding company for Hanmi Bank (the “Bank”), today reported second quarter 2014 net income totaled $11.0 million, or $0.35 per diluted share. Reflecting improving asset quality, the second quarter net income includes a negative loan loss provision of $3.9 million. In the first quarter of 2014, Hanmi earned $11.0 million, or $0.34 per diluted share, including a $3.3 million negative loan loss provision, and earned $9.5 million, or $0.30 per diluted share, for the second quarter of 2013. Excluding results from its discontinued insurance businesses, earnings from continuing operations increased 4.9% to $11.5 million, or $0.36 per diluted share, in the second quarter of 2014 from $11.0 million, $0.34 per diluted share, in the first quarter of 2014 and increased 23.4% from $9.3 million, $0.29 per diluted share, in the second quarter a year ago.

    In the first six months of 2014, net income increased 12.7% to $22.0 million, or $0.69 per diluted share, compared to $19.5 million, or $0.62 per diluted share, in the first six months of 2013. Earnings from continuing operations increased 15.5%, to $22.5 million in the first six months of 2014, from $19.5 million in the first six months of 2013.

    “Our second quarter profits continue to reflect the core operating strength of our franchise,” said C. G. Kum, President and Chief Executive Officer. “We are continuing to streamline our operations, through staff reductions, closing one branch and the sale of our insurance agencies. These initiatives are making Hanmi more efficient and will allow us to focus on growing our core business banking franchise. These steps are particularly important as we move closer to completing the acquisition of Central Bancorp, Inc.”


    To view the entire report, visit our Investor Relations page.


  • Jul 15, 2014 Hanmi Bank Revamps Credit Card Service

    Hanmi Bank Revamps Credit Card Service



    Hanmi Bank has been aggressively marketing their new credit card services, which made a soft launch in May of this year.  With their new Visa line, issued by Elan Financial Services, a much wider pool of customers can take advantage of the products.  Although Hanmi has been offering a credit card service since 2000, the variety was rather limited.  By partnering with the nation’s biggest credit card issuer, the bank is offering much wider pool of options that customers can take advantage of.

    Consumers can acquire points through the VISA Bonus Rewards and VISA Bonus Rewards Plus.  College students can access the College Rewards Card, and Businesses can use the Signature Business Company Card.  Additionally, with the VISA CommUNITY Card for non-profit organizations, customers have access to 10 different credit cards.

     The most popular card by far would be the VISA Bonus Rewards Card, with which consumers receive a bonus of 2,500 points with their first purchase.  One point can be gained per net $1 with every purchase thereafter, and 25% additional points will be acquired every month.  Various rewards and gift cards are available with the points, including travel rewards and cash back.

    C. G. Kum, CEO of Hanmi Bank, said, “Hanmi Bank has been focusing its energy on developing products that offer the highest convenience to our customers.  The soft launch of the Hanmi credit cards has been garnering much interest and we hope to continue to satisfy our customers in this matter.”   More information on the Hanmi credit card can be found on www.hanmi.com. 





  • Jul 14, 2014 Hanmi Bank’s Shin-Soo Choo Fan Signing Event a Success

    Hanmi Bank’s Shin-Soo Choo Fan Signing Event a Success



    Signing event held at UCB’s Carrollton branch 

    In celebration of Texas Rangers’ first Korea Day, Hanmi Bank held a fan signing event with the bank’s spokesperson and MLB athlete Shin-Soo Choo at UCB’s (United Central Bank) Carrollton Branch.  Despite temperatures inching on 100 degrees, around 250 fans were attracted to the event, making it a major success.  Not only Korean fans, but fans of various ethnicities were present, authenticating Choo’s ever growing popularity.

    Choo has been Hanmi Bank’s spokespersons since 2011 and has participated in various events with the bank every year. This event is special, however, in that Hanmi Financial is currently in the works of finalizing an M&A with Dallas-based Central Bancorp, holding company of UCB.

    C. G. Kum, CEO of Hanmi Bank, expressed his thanks to the fans that made their way to the even despite the summer heat.  “It was great to have this opportunity to hold such an event at a significant time for Hanmi Bank.  We will work to provide the best services to customers here in Texas in the near future.”

    Hanmi Bank gave out various promotion items to the fans, such as piggy banks, umbrellas, and temporary tattoos with Choo’s caricature.

    Furthermore, Hanmi Bank was a sponsor of the Korea Society of Dallas, and gave away Rangers’ game tickets through Dallas Radio Korea and Dallas News Korea. 





    L to R: CEO C. G. Kum, Shin-Soo Choo, Chairman Joseph K. Rho, COO Bonnie Lee






    Contact:
    Jenny Park | Creative Strategy Manager (213-427-4255)
    Katie Kwon | Creative Strategy Officer (213-368-3237)





  • Jul 11, 2014 Hanmi Financial Corp. Announces Sale of Insurance Subsidiaries

    Hanmi Financial Corp. Announces Sale of Insurance Subsidiaries



    Hanmi Financial Corporation (NASDAQ: HAFC) (“Hanmi”), the holding company for Hanmi Bank (the “Bank”), today announced Hanmi sold its subsidiaries, Chun-Ha Insurance Services, Inc. and All World Insurance Services, Inc. to Chunha Holding Corporation on June 30, 2014. “As part of our strategy to focus our resources on growing our core banking franchise, we have decided to divest our insurance subsidiaries,” said C. G. Kum, President and Chief Executive Officer. “We would like to thank President Ki Hong Park and his staff for their hard work and to wish them success.”

    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 of California, with 27 full-service branch offices in Los Angeles, Orange, San Bernardino, San Francisco, Santa Clara and San Diego counties, and loan production offices in 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:
    Mark (Shick) Yoon
    EVP & Chief Financial Officer
    Direct Phone: 213-427-5636

    Christina Lee
    FVP & Senior Strategy Officer
    Direct Phone: 213-427-5631



  • Jun 02, 2014 Hanmi Financial Corp. Names Randall G. Ewig as Chief Credit Officer

    Hanmi Financial Corp. Names Randall G. Ewig as Chief Credit Officer




    LOS ANGELES, CA – May 30, 2014 -- Hanmi Financial Corporation (NASDAQ: HAFC) (“Hanmi”), the holding company for Hanmi Bank (the “Bank”), today announced that Randall G. Ewig has joined Hanmi and the Bank as Executive Vice President and Chief Credit Officer (“CCO”). As the CCO, he will be responsible for the overall quality of the Bank’s loan portfolio. All of the credit administrative departments, including loan operations, will report to Mr. Ewig.

    “Randall has enjoyed a highly successful career in banking, which includes over 20 years of experience in various senior level credit administrative positions with major banks on the West Coast,” said C. G. Kum, President and Chief Executive Officer. “As a veteran of some of the most prestigious banks, Randall has the skills to provide the leadership in credit administration to enable Hanmi to safely grow and to enter new markets.”

    Most recently, Mr. Ewig, as a Senior Vice President and Manager at HSBC Bank, was responsible for approval and asset quality of loans for HSBC Bank’s western region and the state of Texas. Prior to HSBC Bank, he was a Senior Vice President and Credit Administrator at Sanwa Bank/Bank of the West where he was responsible for approving middle market business loans. He was also the Chief Credit Officer at Mercantile National Bank, a community bank that was based in Los Angeles, California. Mr. Ewig earned his Masters of Business Administration in Finance and Bachelor of Arts in Economics degrees from the University of Southern California.


    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 of California, with 27 full-service branch offices in Los Angeles, Orange, San Bernardino, San Francisco, Santa Clara and San Diego counties, and loan production offices in Texas 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: 
    Mark (Shick) Yoon
    EVP & Chief Financial Officer
    Direct Phone: 213-427-5636



  • May 28, 2014 2014 Hanmi Financial Corporation Shareholders Meeting

    2014 Hanmi Financial Corporation Shareholders Meeting




    On May 28, 2014, Hanmi Financial Corporation held its annual shareholders meeting at Oxford Palace Hotel at 10A.M. Pacific Time. 

    Following proposals were approved at the meeting.
    1. To elect nine (9) directors to serve for terms expiring at the 2015 Annual Meeting of Stockholders, or until their successors are elected. Elected directors are: I Joon Ahn, John Hall, Paul Seon-Hong Kim, Joon Hyung Lee, William Park, Joseph Rho, David Rosenblum, William Stolte,  and C. G. Kum
    2. To provide a non-binding advisory vote to approve the compensation of our Named Executive Officers (“NEOs”)
    3. To ratify the appointment of KPMG LLP as Hanmi Financial Corporation’s independent registered public accounting firm for the fiscal year ending December 31, 2014

    President & CEO, C. G. Kum


    President & CEO, C. G. Kum


    Chairman of the Board, Joseph K. Rho


    Download the Proxy


    CONTACT:
    Mark (Shick) Yoon
    EVP & Chief Financial Officer
    Direct Phone: 213-427-5636




  • May 07, 2014 Hanmi Financial to Present at D.A. Davidson 16th Annual Financial Services Conference on May 13 in Denver

    Hanmi Financial to Present at D.A. Davidson 16th Annual Financial Services Conference on May 13 in Denver



    LOS ANGELES May 7, 2014 – Hanmi Financial Corporation (NASDAQ: HAFC), the holding company for Hanmi Bank, today announced that C. G. Kum, President and CEO, Bonnie Lee, Senior EVP and COO, and Mark (Shick) Yoon, EVP and CFO, will present at the D.A. Davidson & Co. 16th Annual Financial Services Conference in Denver.

    Hanmi's presentation is scheduled for May 13 at 8:00 a.m. MT (10:00 a.m. ET), at the Embassy Suites Denver – Downtown/ Convention Center, Denver, CO. The live and archived presentation can be accessed through the Investor Relations section of Hanmi's website at www.hanmi.com. Interested investors can also view a live audio webcast of the presentation by logging on to http://www.wsw.com/webcast/dadco27/hafc/ on May 13 at approximately 8:00 a.m. MT (10:00 a.m. ET).

    Conference participation is by invitation only and registration is mandatory. For more information on the D.A. Davidson & Co. Conference, or to schedule a one-on-one meeting with management, please contact your Davidson representative.

    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 of California, with 27 full-service offices in Los Angeles, Orange, San Bernardino, San Francisco, Santa Clara and San Diego counties, and loan production offices in Texas 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.


    Contact: 
    Hanmi Financial Corporation
    Mark (Shick) Yoon
    EVP & CFO
    213-427-5636

    Investor Relations Contact:
    The Cereghino Group
    206-388-5788
    www.stockvalues.com




  • Apr 25, 2014 Hanmi Bank Announces New Online Payroll Service

    Hanmi Bank Announces New Online Payroll Service



    First in Korean-American Banking Industry to offer leading online payroll service

    Hanmi Bank is announcing the launch of an online payroll service to help its small business customers through a partnership with SurePayroll, Inc., a Paychex company. Available through Hanmi’s online banking system, this partnership is the first in the Korean-American banking industry to provide comprehensive online payroll services to small business customers. 

    “We’re excited to partner with Hanmi Bank to help small business owners overcome the inherent challenges associated with payroll and focus more time on their businesses,” said SurePayroll Senior Vice President Rick Gunther.   

    “Hanmi is investing in technology to offer new and enhanced products and service that will bring added value to our customers,” said C. G. Kum, President and CEO of Hanmi Bank. “Online payroll service will provide our small business customers with the resources they need to operate their business efficiently, helping them to focus on growing their business.”

    Business Online Payroll is a simple full-service online payroll service that allows Hanmi small business customers to quickly and conveniently process payroll online.  Once enrolled, subscribers simply login then enter data, preview and submit payroll while the system automatically does the rest, including calculating employee wages and deductions, as well as paying and filing all federal, state and local taxes. Business Online Payroll also tracks employee benefits, and subscribers can pay employees either by direct deposit or manually by printing checks right in their office from the online system.  The service also provides comprehensive online reports that are readily accessible to small business owners. 

    For more information on Business Online Payroll, visit www.hanmi.com

    About Hanmi Bank
    Headquartered in Los Angeles, Hanmi Bank, a wholly-owned subsidiary of Hanmi Financial Corporation, provides services to the multi-ethnic communities of California, with 27 full-service offices in Los Angeles, Orange, San Bernardino, San Francisco, Santa Clara and San Diego counties, and loan production offices in Texas 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 stockholder value.

    About SurePayroll
    SurePayroll is the trusted provider of easy online payroll services to small businesses nationwide. Whether a business has 1, 10, or 100 employees, SurePayroll delivers peace of mind by combining innovative, industry-leading technology and personalized support from an award-winning, U.S.-based customer care team. SurePayroll also provides private-label and co-branded services for accountants and banking partners as well as offering efficient online solutions for managing 401(k) plans, health insurance, workers' compensation, employee screening and more. SurePayroll is a wholly owned subsidiary of Paychex. For more information, please visit www.SurePayroll.com. Follow us on Twitter – Circle us on Google+ – Connect with us on LinkedIn – Like us on Facebook. 
    About Paychex
    Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 570,000 payroll clients as of May 31, 2013. For more information about Paychex and our products, visit www.paychex.com.


    Contact: 
    Jenny Park, FVP & Creative Strategy Manager
    (213) 427-4255




  • Apr 22, 2014 Anna Chung Joins Hanmi Bank to Lead SBA Lending Division

    Anna Chung Joins Hanmi Bank to Lead SBA Lending Division



    LOS ANGELES, CA – April 21, 2014 -- Hanmi Bank (the “Bank”), a wholly-owned subsidiary of Hanmi Financial Corporation (NASDAQ: HAFC), today announced the addition of Anna Chung as Executive Vice President & Director of SBA Lending Division. Ms. Chung will lead the Bank’s SBA Lending Division and will be responsible for managing the nationwide SBA loan production and operations.  
     
    “We are delighted to have Anna join Hanmi to revitalize our SBA lending program.  Her deep-rooted history in the SBA industry and extraordinary track-record of success will enable Hanmi to fulfill its goal to be one of the top SBA lenders,” said C. G. Kum, President and Chief Executive Officer.  “As an SBA Preferred Lender, Hanmi has a long history of working with small businesses to fund their business needs.”

    Prior to joining Hanmi Bank, Ms. Chung was the Chief SBA Lending Officer with Wilshire Bank, ranked the 9th largest SBA lender in the nation by lending volume for SBA 7(a) loan in the first quarter of fiscal year 2014.  Under her leadership, she created one of the nation’s top SBA lending teams and a highly efficient process for underwriting SBA loans.  Ms. Chung is a 31-year veteran of banking and SBA lending, and has held progressively important executive positions with prominent community banks.  She completed her SBA training with the National Association of Government Guaranteed Lenders (NAGGL), a trade association representing lenders that participate in the SBA Program, and currently serves as a member of the Technical Committee and Region IX Liaison Committee of the NAGGL.

    “I am delighted to become a part of Hanmi Bank, and look forward to continuing to work with small businesses in the communities we serve for their funding needs,” said Anna Chung, Executive Vice President & Director of SBA Lending Division.  

    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 of California, with 27 full-service branch offices in Los Angeles, Orange, San Bernardino, San Francisco, Santa Clara and San Diego counties, and loan production offices in Texas 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. 

    Source:  http://www.sba.gov/category/lender-navigation/lender-loan-data/100-most-active-sba-7a-lenders





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