James Marasco Appointed to the Board of Hanmi Financial Corporation

Rhea-AI Summary

Hanmi Financial Corporation appoints James Marasco to the Board of Directors, bringing the total number of directors to ten. Marasco, with over 35 years of experience in commercial lending and financial services, is expected to enrich strategic discussions and create value for shareholders and stakeholders.

LOS ANGELES, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ: HAFC, or “Hanmi”), and its wholly-owned subsidiary, Hanmi Bank (the “Bank”), today announced that James Marasco has been appointed to the Board of Directors of the Company and the Bank. The addition of Mr. Marasco brings the total number of Hanmi Board directors to ten.

“We are delighted to welcome Jim to the Hanmi Board,” said John J. Ahn, Chairman of the Board. “With decades of experience in commercial lending and a wide array of financial services management, Jim brings a wealth of knowledge and understanding to the Board that will enrich our strategic discussions as we continue to steer Hanmi Bank toward new heights of success. We look forward to leveraging his experience and insights as we continue to create value for our shareholders and all of Hanmi’s stakeholders."

Mr. Marasco was appointed to the Risk, Compliance and Planning Committee and to the Compensation and Human Resources Committee of the Company.

With more than 35 years of experience in commercial lending and financial services, Mr. Marasco currently is an Executive Vice President and Head of Originations at Gibraltar Business Capital, a national middle market direct lender headquartered in Northbrook, Illinois. He also was an independent director for Gibraltar from 2021 to 2023. Prior to joining Gibraltar, Mr. Marasco served as a Strategic Advisor for Crescent Capital Group, L.P., a Los Angeles-based asset manager with more than $40 billion in assets under management at that time. From 1989 to 2021, Mr. Marasco held numerous leadership positions in originations and capital markets at Wells Fargo Capital Finance, a division of Wells Fargo and Company. He was a member of its senior credit committee for its asset-based lending and specialty businesses and served on the company’s administrative, management, and operating committees. Mr. Marasco earned his B.A. degree in accounting from Michigan State University.

About Hanmi Financial Corporation
Headquartered in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic communities through its network of 35 full-service branches and eight loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington and Georgia. Hanmi Bank specializes in real estate, commercial, SBA and trade finance lending to small and middle market businesses. Additional information is available at www.hanmi.com.

Investor Contacts:
Romolo (Ron) Santarosa
Senior Executive Vice President & Chief Financial Officer
213-427-5636

Larry Clark, CFA
Investor Relations
Financial Profiles, Inc.
lclark@finprofiles.com
310-622-8223

Media Contact:
Juanita Gutierrez
Vice President
Financial Profiles, Inc.
310-622-8235
jgutierrez@finprofiles.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/238e6ffb-6e36-486b-8f9f-20c5b216bf8c

FAQ

Who has been appointed to the Board of Directors of Hanmi Financial Corporation?

James Marasco has been appointed to the Board of Directors of Hanmi Financial Corporation.

How many years of experience does James Marasco have in commercial lending and financial services?

James Marasco has over 35 years of experience in commercial lending and financial services.

What committees has James Marasco been appointed to in the company?

James Marasco has been appointed to the Risk, Compliance and Planning Committee and to the Compensation and Human Resources Committee of the company.

Where is James Marasco currently employed and in what role?

James Marasco is currently employed at Gibraltar Business Capital as the Executive Vice President and Head of Originations.