Hanmi News

  • Dec 06, 2012 Hanmi Financial Corporation Announces the Lifting of Regulatory Enforcement Actions

    Hanmi Financial Corporation Announces the Lifting of Regulatory Enforcement Actions

    Hanmi Financial Corporation Announces the Lifting of RegulatoryEnforcement Actions

    by the Federal Reserve Bank of San Francisco

    LOS ANGELES — December 6, 2012 — Hanmi Financial Corporation (NASDAQ: HAFC) (“Hanmi”), the holding company for Hanmi Bank (the “Bank”), today announced that the Federal Reserve Bank of San Francisco (the “FRB”) has informed Hanmi and the Bank that the Written Agreement entered into between Hanmi, the Bank and the FRB on November 2, 2009 (the “Written Agreement”) has been terminated, effective December 4, 2012.  As a result, with the recent lifting of the Memorandum of Understanding with the California Department of Financial Institutions on October 29, 2012 and today’s termination of the Written Agreement, the Bank is no longer subject to any ongoing enforcement actions.

    “We are pleased to report the termination of the Written Agreement with the Federal Reserve Bank of San Francisco and leave our regulatory issues behind us.  This important step confirms that our efforts to improve our financial condition have been successful and we will continue to effectively manage our capital and credit,” said Jay Yoo, President and Chief Executive Officer of Hanmi.  “I would like to thank the entire Hanmi team for their dedicated contributions.  We are now a much stronger company and look forward to upcoming challenges and opportunities.” 

    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 a loan production office in 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.  Additional information is available at www.hanmi.com.

    Contact:
    Hanmi Financial Corporation
    David Yang
    Vice President & Corporate Strategy Officer
    (213) 637-4798

  • Oct 18, 2012 Hanmi Financial Corp. Earned $13.3 Million or $0.42 Per Diluted Share, in Third Quarter of 2012

    Hanmi Financial Corp. Earned $13.3 Million or $0.42 Per Diluted Share, in Third Quarter of 2012

    Company Release - 10/18/2012 08:30

    LOS ANGELES--(BUSINESS WIRE)-- Hanmi Financial Corporation (NASDAQ: HAFC), the holding company for Hanmi Bank (the “Bank”), today reported improving asset quality, and growing efficiencies contributed to third quarter net income of $13.3 million, or $0.42 per diluted share. Hanmi’s net income for the second quarter of 2012 was $55.8 million or $1.77 per diluted share, as a result of the recapture of the deferred tax asset (“DTA”) in the second quarter, and $4.2 million or $0.22 per diluted share in the third quarter a year ago. With eight consecutive quarters of profitability and continued credit improvement, Hanmi continued to benefit from the reversal of the DTA valuation allowance, recording a $4.9 million gross benefit which effectively offsets the tax obligation for the quarter. Tangible book value increased 4.5% to $11.52 per share at September 30, 2012, from $11.02 per share at June 30, 2012, and increased 8.1% from $10.66 per share a year ago. Year to date, net income in 2012 totaled $76.4 million, or $2.42 per diluted share, compared to $22.6 million, or $1.20 per diluted share, in the first nine months of 2011. All per share results are adjusted to reflect Hanmi Financial’s 1-for-8 reverse stock split, which became effective on December 19, 2011.

    “We continue to gain traction with our turnaround efforts, producing further improvements in asset quality during the quarter,” said Jay S. Yoo, President and Chief Executive Officer. “With another solidly profitable quarter, we are establishing a steady and stable foundation on which to grow our assets in the future.”


    Click here to view a PDF of the entire report.


  • Oct 02, 2012 Hanmi Financial Corporation Announces Third Quarter 2012 Conference Call and Webcast

    Hanmi Financial Corporation Announces Third Quarter 2012 Conference Call and Webcast

    Hanmi Financial Corporation Announces Third Quarter 2012 Conference Call and Webcast
    Company Release - 10/02/2012 12:30

    LOS ANGELES--(BUSINESS WIRE)-- Hanmi Financial Corporation (NASDAQ:HAFC), the holding company for Hanmi Bank, today announced that it will report third quarter 2012 financial results before the open of the stock market on Thursday, October 18, 2012. Management will host a conference call that same day, at 1:30 p.m. Pacific Time (4:30 p.m. Eastern Time) to discuss the results.

    Investment professionals and all current and prospective shareholders are invited to access the live call on October 18 by dialing (480)-629-9692 before 1:30 p.m. Pacific Time, using access code HANMI. To listen to the call online, either live or archived, visit the Investor Relations page of Hanmi’s website at www.hanmi.com. Shortly after the call concludes, the replay will also be available at (303)-590-3030, using access code 4566282.

    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 a loan production office in 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.

    Hanmi Financial Corporation
    Lonny D. Robinson, EVP & Chief Financial Officer, 213-368-3200

    Source: Hanmi Financial Corporation

  • Jul 24, 2012 Hanmi to Present at Keefe Bruyette and Woods 13th Annual Community Bank Investor Conference

    Hanmi to Present at Keefe Bruyette and Woods 13th Annual Community Bank Investor Conference

    Hanmi to Present at Keefe Bruyette and Woods 13th Annual Community Bank Investor Conference

    Company Release - 07/24/2012 12:00

    LOS ANGELES--(BUSINESS WIRE)-- Hanmi Financial Corporation (NASDAQ: HAFC), the holding company for Hanmi Bank (the “Bank”), today announced that Jay S. Yoo, President and Chief Executive Officer, and Lonny Robinson, Chief Financial Officer, are scheduled to present at the Keefe Bruyette and Woods 13th Annual Community Bank Investor Conference. Hanmi will present on Wednesday, August 1, 2012, at 3:00 p.m. ET.

    The two-day KBW hosted event will be held on July 31 and August 1, 2012, at the Marriott Marquis Times Square in New York City. The live and archived presentation will be available at http://investors.hanmi.com/CorporateProfile.aspx?iid=4054775.

    One-on-one meetings with attending investors are currently being scheduled. To request a meeting with management, or obtain more information about this event, please contact KBW’s event manager, or your KBW 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 a loan production office in 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.

    About Keefe Bruyette and Woods.
    KBW, Inc. operates in the U.S., Europe and Asia through its broker dealer subsidiaries, Keefe, Bruyette & Woods, Inc., Keefe, Bruyette & Woods Limited and Keefe, Bruyette & Woods Asia Limited. Celebrating its 50th anniversary, KBW has established itself as a leading independent authority in the banking, insurance, brokerage, asset management, mortgage banking, real estate and specialty finance sectors. Founded in 1962, the firm maintains industry-leading positions in the areas of research, corporate finance, mergers and acquisitions as well as sales and trading in equities and debt securities of financial services companies.

    Hanmi Financial Corporation
    Lonny Robinson, 213-368-3200
    Executive Vice President and Chief Financial Officer

    Source: Hanmi Financial Corporation


  • Jul 19, 2012 Hanmi Financial Corp. Earned $55.8 Million with a Net Tax Benefit of $47.2 Million as a Result of Deferred Tax Asset Valuation Allowance Reveresal in 2Q 12

    Hanmi Financial Corp. Earned $55.8 Million with a Net Tax Benefit of $47.2 Million as a Result of Deferred Tax Asset Valuation Allowance Reveresal in 2Q 12

    Company Release - 07/19/2012 08:30

    LOS ANGELES--(BUSINESS WIRE)-- Hanmi Financial Corporation (NASDAQ: HAFC), the holding company for Hanmi Bank (the “Bank”), today reported second quarter net income of $55.8 million, or $1.77 per diluted share. Net income included pretax net income of $8.6 million, a 16% increase from $7.4 million in the first quarter of 2012, and a net tax benefit of $47.2 million resulting from a deferred tax asset (“DTA”) valuation allowance reversal. With multiple consecutive quarters of profitability and continued credit improvement, Hanmi was able to substantially reverse the valuation allowance recorded against its DTA, generating an income tax benefit of $53.1 million in the second quarter, offset by a current tax provision of $5.9 million. The reversal resulted in an increase in tangible book value to $11.02 per share at June 30, 2012, an increase of $1.74 per share, or 18.8%, compared to March 31, 2012. It is expected that an additional DTA valuation allowance reversal will occur in the next two quarters approximating an additional $10.1 million, for a total recognized DTA of approximately $63.2 million by year end. Year-to-date, net income in 2012 totaled $63.1 million, or $2.00 per diluted share. All per share results are adjusted to reflect the 1-for-8 reverse stock split, which became effective on December 19, 2011.

    “Hanmi’s return to profitability in the past seven quarters is a direct result of the successful execution of our strategic turnaround plan and led to the reversal of the valuation allowance against our DTA. Our confidence in the sustainability of our future profitability is reflected in the decision,” said Jay S. Yoo, President and Chief Executive Officer. “More importantly, the ongoing improvement in asset quality, expanding net interest margin, improving operating efficiencies and contributions for our SBA loan originations and sales were the real highlights of the second quarter.”


    Click here to view a PDF of the entire report.




  • Jul 09, 2012 Hanmi Financial Corporation Announces Second Quarter 2012 Conference Call and Webcast

    Hanmi Financial Corporation Announces Second Quarter 2012 Conference Call and Webcast

    Hanmi Financial Corporation Announces Second Quarter 2012 Conference Call and Webcast

    Company Release - 07/09/2012 16:00

    LOS ANGELES--(BUSINESS WIRE)-- Hanmi Financial Corporation (NASDAQ:HAFC), the holding company for Hanmi Bank, today announced that it will report second quarter 2012 results before the open of the stock market on Thursday, July 19, 2012. Management will host a conference call on that same day at 1:30 p.m. Pacific Time (4:30 p.m. Eastern) to discuss the results. This call will also be broadcast live via the internet.

    Investment professionals and all current and prospective shareholders are invited to access the live call on July 19 by dialing (480)-629-9645 before 1:30 p.m. Pacific Time, using access code HANMI. To listen to the call online, either live or archived, visit the Investor Relations page of Hanmi’s website at www.hanmi.com. Shortly after the call concludes, the replay will also be available at (303)-590-3030, using access code 4550848.

    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 a loan production office in 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.

    Hanmi Financial Corporation
    LONNY D. ROBINSON, EVP & Chief Financial Officer, 213-368-3200

    Source: Hanmi Financial Corporation

  • Jun 15, 2012 Hanmi Bank will be added to the NASDAQ OMX ABA Community Bank Index

    Hanmi Bank will be added to the NASDAQ OMX ABA Community Bank Index


    NEW YORK, June 11, 2012 (GLOBE NEWSWIRE) -- The NASDAQ OMX Group, Inc. (Nasdaq:NDAQ) announced today the results of the semi-annual evaluation of the NASDAQ OMX ABA Community Bank Index (Nasdaq:ABQI), which will become effective prior to market open on Monday, June 18, 2012.

    The following seven securities will be added to the Index: BofI Holding, Inc. (Nasdaq:BOFI), CoBiz Financial Inc. (Nasdaq:COBZ), First Interstate BancSystem, Inc. (Nasdaq:FIBK), Franklin Financial Corporation (Nasdaq:FRNK), Hanmi Financial Corporation (Nasdaq:HAFC), OmniAmerican Bancorp, Inc. (Nasdaq:OABC) and Taylor Capital Group, Inc. (Nasdaq:TAYC).

    The Index is designed to track the performance of banks and thrifts, or their holding companies, listed on The NASDAQ Stock Market®. The Index is intended to serve as a benchmark for investment products by including the larger and more liquid community banks.The NASDAQ OMX ABA Community Bank Index is reviewed on a semi-annual basis. For more information about the NASDAQ OMX ABA Community Bank Index, including detailed eligibility criteria, visit https://indexes.nasdaqomx.com/.

    As a result of the evaluation the following seven companies will be removed from the index:

    Camden National Corporation (Nasdaq:CAC), Enterprise Financial Services Corp (Nasdaq:EFSC), The First of Long Island Corporation (Nasdaq:FLIC), Great Southern Bancorp, Inc. (Nasdaq:GSBC), Northfield Bancorp, Inc. (Nasdaq:NFBK), Sun Bancorp, Inc. (Nasdaq:SNBC) and Westfield Financial, Inc. (Nasdaq:WFD).

    The First Trust NASDAQ ABA Community Bank Fund (Nasdaq:QABA) seeks investment results that correspond generally to the price and yield (before the fund's fees and expenses) of the NASDAQ OMX ABA Community Bank Index.
  • May 15, 2012 Hanmi to Present at B. Riley & Company Inc. 13th Annual Investor Conference

    Hanmi to Present at B. Riley & Company Inc. 13th Annual Investor Conference

    Hanmi to Present at B. Riley & Company Inc. 13th Annual Investor Conference

    Company Release - 05/15/2012 16:21

    LOS ANGELES--(BUSINESS WIRE)-- Hanmi Financial Corporation (NASDAQ:HAFC), the holding company for Hanmi Bank (the “Bank”), today announced that Jay S. Yoo, President and Chief Executive Officer, and Lonny Robinson, Chief Financial Officer are scheduled to present at the 13th Annual B. Riley & Co. Investor Conference. Hanmi will present on Tuesday, May 22, at 4:30 p.m. Pacific Time.

    The B. Riley & Co. Investor Conference event will be held on May 21-23, 2012, at the Loews Santa Monica Beach Hotel, Santa Monica, CA. The live and archived webcast of Hanmi’s presentation may be accessed by visiting the investor relations section of HAFC’s website at http://investors.hanmi.com/CorporateProfile.aspx?iid=4054775.

    Conference participation is by invitation only and registration is required. For more information on the conference or to schedule a one-on-one meeting, please contact your B. Riley & Co. representative.

  • May 03, 2012 Hanmi to Present at Davidson Companies 14th Annual Financial Services Conference

    Hanmi to Present at Davidson Companies 14th Annual Financial Services Conference

    Hanmi to Present at Davidson Companies 14th Annual Financial Services Conference

    Company Release - 05/03/2012 

    LOS ANGELES--(BUSINESS WIRE)-- Hanmi Financial Corporation (NASDAQ: HAFC), the holding company for Hanmi Bank (the “Bank”), today announced that Jay S. Yoo, President and Chief Executive Officer, and Lonny Robinson, Chief Financial Officer, are scheduled to present at the Davidson Companies 14th Annual Financial Services Conference. Hanmi will present on Thursday, May 10, 2012, at 8:00 a.m. PDT.

    The two-day Davidson hosted event will be held on May 9-10, 2012, at the Bell Harbor Conference Center, Seattle, Washington. The live and archived presentation will be available at http://investors.hanmi.com/CorporateProfile.aspx?iid=4054775.

    One-on-one meetings with attending investors are currently being scheduled. To request a meeting with management, or obtain more information about this event, please contact D.A. Davidson’s event manager, April Figone, at afigone@dadco.com.

    One-on-one meetings with attending investors are currently being scheduled. To request a meeting with management, or obtain more information about this event, please contact D.A. Davidson’s event manager, April Figone, at afigone@dadco.com.

  • Apr 19, 2012 Hanmi Earns $7.3 Million, or $0.23 Per Share, in 1Q 2012

    Hanmi Earns $7.3 Million, or $0.23 Per Share, in 1Q 2012

    Company Release - 04/19/2012 08:30

    Launches 30th Anniversary with Sixth Consecutive Quarterly Profit

    LOS ANGELES--(BUSINESS WIRE)-- Hanmi Financial Corporation (NASDAQ:HAFC), the holding company for Hanmi Bank (the “Bank”), today reported first quarter net income of $7.3 million, or $0.23 per diluted common share, for the first quarter of 2012, up 33% from the preceding quarter. The first quarter of 2012 marks Hanmi’s sixth consecutive quarterly profit, with improving net interest margin, improving asset quality and lower overhead costs. Net profit in the first quarter of 2012 was 30% less than the $10.4 million, or $0.55 per diluted share, earned in the first quarter of 2011, due to a $2.0 million credit loss provision in the first quarter of 2012 (versus no provision for credit losses in the first quarter of 2011) and a $2.4 million loss on sale of loans for the first quarter 2012. All per share results are adjusted to reflect the 1-for-8 reverse stock split, which became effective on December 19, 2011.

    “As we celebrate our thirtieth anniversary, we are making progress, step by step, on the business plans that we crafted last year. We are very pleased with the increases in total assets, loans and deposits this quarter after several years of deleveraging our balance sheet. The improved operating platform we are implementing should provide further benefits and revenue growth into the future,” said Jay S. Yoo, President and Chief Executive Officer. “In the first quarter of 2012, we launched the “Hanmi Neighbor Volunteer Service Program,” to serve our community’s youth, healthcare, and education groups. We believe this program can be a great opportunity for us to return the support we have received from our customers and our community and to further build relationships in the area.”


    Click here to view a PDF of the entire report.




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