Welcome to our dedicated page for Hanmi Financial news (Ticker: HAFC), a resource for investors and traders seeking the latest updates and insights on Hanmi Financial stock.
Hanmi Financial Corp (NASDAQ: HAFC) is the parent company of Hanmi Bank, a financial institution headquartered in Los Angeles, California. Established in 1982, Hanmi Bank serves the Korean-American and broader multi-ethnic communities through its network of 35 full-service branches and eight loan production offices across several states including California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington, and Georgia.
Focusing primarily on small businesses, Hanmi Bank offers a comprehensive range of financial products and services including commercial and real estate loans, SBA loans, and trade-finance products. The bank's revenue streams are diversified, deriving from interest and fees on loans, interest and dividends on the securities portfolio, service charges on deposit accounts, and sales of SBA loans.
Beyond its traditional banking operations, Hanmi Bank has been actively expanding its footprint through strategic acquisitions and has a robust plan to enter new markets. The bank maintains a strong balance sheet with ample liquidity, high credit quality, stable core deposits, and well-managed expenses, positioning it well to navigate dynamic economic environments.
Recent achievements include the release of the 2023 annual letter to shareholders, highlighting the bank’s ongoing commitment to building trust and providing value. For the first quarter of 2024, Hanmi Financial Corporation reported a net income of $15.2 million, reflecting a solid financial performance despite a slight dip compared to the previous quarter.
Hanmi Financial Corp is dedicated to maintaining and growing its presence in the banking industry, continually enhancing its services to meet the needs of its diverse clientele. For more information, visit the investor relations page of Hanmi’s website at https://investors.hanmi.com/.
Hanmi Financial (NASDAQ: HAFC) has announced its participation in the Janney 5th Annual Bank CEO Forum, scheduled for January 29-30, 2025, in Scottsdale, Arizona. President and CEO Bonnie Lee, along with CFO Ron Santarosa, will conduct one-on-one and small group meetings with institutional investors throughout the event.
The company will make its investor presentation materials available on the Investor Relations section of their website at www.hanmi.com. This forum represents an important opportunity for Hanmi Financial, the parent company of Hanmi Bank, to engage with institutional investors and share their corporate strategy.
Hanmi Financial (Nasdaq: HAFC) has scheduled its fourth quarter 2024 earnings release and conference call for Tuesday, January 28, 2025. The financial results will be announced after market close, followed by a management-hosted conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time).
Investors, shareholders, and investment professionals can participate in the live call by dialing 1-877-407-9039 using the access code 'Hanmi Bank'. The call will also be available via webcast on Hanmi's investor relations website, with a replay option accessible approximately one hour after the call.
Hanmi Financial (HAFC) has opened its first representative office in Seoul, South Korea, located within the International Finance Center Seoul (IFC). This expansion strengthens the bank's U.S. Subsidiaries of Korean Companies (USKC) business initiative. The Seoul office complements Hanmi's existing Korea Desks across multiple U.S. locations including California, New York, New Jersey, Georgia, and Texas. The bank provides comprehensive services to Korean companies expanding into the U.S., including commercial lending, trade finance, equipment financing, real estate investment, and treasury management.
Hanmi Financial (NASDAQ: HAFC) reported its Q3 2024 financial results, showing a net income of $14.9 million or $0.49 per diluted share, up from $14.5 million or $0.48 per share in Q2 2024. The return on average assets was 0.79%, and the return on average equity was 7.55%. Net interest margin increased to 2.74%, driven by higher yields on interest-earning assets and lower funding costs. Loans grew by 2% due to a 27% increase in loan production, while total deposits increased by 1.2%, with noninterest-bearing demand deposits growing by 4.7%.
Credit loss expense rose to $2.3 million from $1 million in Q2. Nonaccrual loans decreased by 18.8%, while criticized assets increased due to downgrades. Noninterest expense dropped slightly to $35.1 million. Hanmi’s balance sheet remains strong with a robust loan pipeline and healthy capital ratios. Stockholders’ equity rose to $736.7 million, and the company repurchased 75,000 shares during the quarter.
Hanmi Financial (Nasdaq: HAFC), the holding company for Hanmi Bank, has announced its schedule for reporting third quarter 2024 financial results. The company will release its earnings report after the market closes on Tuesday, October 22, 2024. Following the release, management will host a conference call at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day to discuss the results.
Investors, shareholders, and interested parties are invited to participate in the live call by dialing 1-877-407-9039 before 2:00 p.m. Pacific Time, using the access code "Hanmi Bank". For those unable to join the call, a webcast will be available on the investor relations page of Hanmi's website at www.hanmi.com. The webcast recording will be accessible for replay approximately one hour after the call concludes.
Hanmi Financial (Nasdaq: HAFC) announced that its President and CEO, Bonnie Lee, has been named one of The Most Powerful Women to Watch in 2024 by American Banker. Lee, appointed CEO in 2019, has led the company to deliver solid results, drive innovation, and enhance its core relationship banking model. The recognition is part of American Banker's 22nd annual The Most Powerful Women in Banking™ initiative, which honors leaders demonstrating exceptional skills, strong performance, and commitment to diversity, equity, and inclusion in financial services.
Honorees will be recognized at The Most Powerful Women in Banking Gala on October 24, 2024, in New York City. Additionally, a conference featuring panels, discussions, and workshops will be held on October 22–23, open to all banking and finance professionals.
Hanmi Financial (NASDAQ: HAFC), parent company of Hanmi Bank, has announced its participation in the Janney Financial Services Conference on September 17, 2024, in Washington, DC. Bonnie Lee, President and CEO, and Ron Santarosa, CFO, will host one-on-one meetings with institutional investors throughout the day.
The company will make its investor presentation available on its website at www.hanmi.com in the Investor Relations section. This event provides an opportunity for Hanmi Financial to engage with investors and share insights about its financial performance and strategic direction.
Hanmi Financial (NASDAQ: HAFC), the parent company of Hanmi Bank, has announced a cash dividend of $0.25 per share for the third quarter of 2024. The dividend will be paid on August 21, 2024, to stockholders of record as of the close of business on August 5, 2024. This declaration by the Board of Directors demonstrates Hanmi's commitment to returning value to its shareholders and reflects the company's financial stability.
Hanmi Financial (NASDAQ: HAFC), parent of Hanmi Bank, announced its participation in the 25th Annual KBW Community Bank Investor Conference on July 30, 2024, in New York City. Bonnie Lee, President and CEO, and Ron Santarosa, CFO, will host one-on-one and small group meetings with institutional investors throughout the day.
The company will make its investor presentation available on its website at www.hanmi.com in the Investor Relations section. This event provides an opportunity for Hanmi Financial to engage with investors and showcase its financial performance and strategic initiatives.
Hanmi Financial (NASDAQ: HAFC) announced its Q2 2024 financial results. Net income was $14.5M ($0.48/share), down from $15.2M ($0.50/share) in Q1 2024. ROA was 0.77% and ROE was 7.50%, compared to 0.81% and 7.90% in Q1. Though net income declined, business activity improved with a 17% growth in loan production and a rise in demand deposit accounts. Net interest income fell 4.0% to $48.6M, while the net interest margin decreased to 2.69%. Total loans receivable were stable at $6.18B. Deposits declined 0.7% to $6.33B. Noninterest income grew 4.2% to $8.1M, while noninterest expenses fell 3.2% to $35.3M. Asset quality improved, with criticized loans dropping 17.6%. However, nonperforming assets increased to 0.26% of total assets. The allowance for credit losses slightly decreased to $67.7M. As of June 30, 2024, Hanmi maintained a strong balance sheet and capital ratios, positioning it well for future growth.
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