Hanmi News

  • 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.




  • Apr 12, 2012 Hanmi Financial Corporation Announces First Quarter 2012 Conference Call and Webcast

    Hanmi Financial Corporation Announces First Quarter 2012 Conference Call and Webcast

    Hanmi Financial Corporation Announces First Quarter 2012 Conference Call and Webcast

    Company Release - 04/12/2012 16:00

    LOS ANGELES--(BUSINESS WIRE)-- Hanmi Financial Corporation (NASDAQ: HAFC), the holding company for Hanmi Bank, today announced that it will report first quarter 2012 results before the open of the stock market on Thursday, April 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 April 19 by dialing (480)-629-9818 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 4531652 where it will be archived until May 3, 2012.

    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, 213-368-3200
    EVP & Chief Financial Officer

    Source: Hanmi Financial Corporation

  • Jan 31, 2012 Hanmi to Participate in FIG Partners West Coast CEO Forum

    Hanmi to Participate in FIG Partners West Coast CEO Forum

    Hanmi to Participate in FIG Partners West Coast CEO Forum

    Company Release - 01/31/2012 17:00

    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, is scheduled to participate in a Greater Los Angeles Banks Panel at the FIG Partners 3rd Annual West Coast Bank CEO Forum on Tuesday, February 7, 2012, at 8:55 a.m. PST. The forum is scheduled for February 6-7 at the Westin St. Francis Hotel on Union Square in San Francisco.

    About FIG Partners
    FIG Partners LLC is an employee-owned broker/dealer specializing in financial institutions. Its expertise includes independent research on nearly 70 public bank stocks and the industry at large, completion of over 80 transactions to raise new capital and provide strategic advice, and OTC market-making for 200+ banks nationwide.

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

    Source: Hanmi Financial Corporation

  • Jan 19, 2012 Hanmi Earns $28.1 Million, or $1.38 Per Share in 2011

    Hanmi Earns $28.1 Million, or $1.38 Per Share in 2011


    Company Release - 01/19/2012 08:00

    4Q11 Net Income Grows to $5.5 Million, or $0.22 Per Share, up 31% from 3Q11

    Robust Capital Position and Improving Asset Quality Contributed to Hanmi’s Fifth Consecutive Quarterly Profit

    LOS ANGELES--(BUSINESS WIRE)-- Hanmi Financial Corporation (NASDAQ: HAFC), the holding company for Hanmi Bank (the “Bank”), today reported 2011 net income totaled $28.1 million, or $1.38 per diluted common share, a significant improvement from the loss of $88.0 million, or $7.46 per share, posted in 2010. These results reflect the successful fourth quarter capital raise, continuing improvement in asset quality, strong SBA loan originations and enhanced operating efficiency. The fourth quarter of 2011 marks Hanmi’s fifth consecutive quarterly profit, with net income totaling $5.5 million, or $0.22 per share. All per share results are adjusted to reflect the 1-for-8 reverse split, which became effective on December 19, 2011.

    “2011 was a year of great transformation for Hanmi. With hard work and dedication of all our employees, we have overcome many challenges and have already implemented steps to continue on the road to profitability,” said Jay S. Yoo, President and Chief Executive Officer. “We launched the new year with an all-company rally that brought the entire Hanmi team together. I was impressed with the dedication and enthusiasm that our team members demonstrated at the rally. We are once again dedicated to make Hanmi 'The Bank of Choice' for our customers, our employees, our communities, and our shareholders.”

    Click here to view a PDF of the entire report.


  • Jan 12, 2012 Hanmi Financial Corporation Announces Fourth Quarter and Year End 2011 Conference Call and Webcast

    Hanmi Financial Corporation Announces Fourth Quarter and Year End 2011 Conference Call and Webcast

    Hanmi Financial Corporation Announces Fourth Quarter and Year End 2011 Conference Call and Webcast

    Company Release - 01/12/2012 14:36

    LOS ANGELES, Jan. 12, 2012 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (Nasdaq:HAFCD), the holding company for Hanmi Bank, today announced that it will report fourth quarter and year end 2011 results before the open of the stock market on Thursday, January 19, 2012. Management will host a conference call on that same day at 1:30 p.m. Pacific Time (4:30 p.m. ET) 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 January 19 by dialing (617) 213-8055 at 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 (617) 801-6888, using access code #78210974 where it will be archived until February 2, 2012.

    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.

    CONTACT: LONNY D. ROBINSON
    EVP & Chief Financial Officer
    (213) 368-3200

    Source: Hanmi Bank

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