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.
Overview of Hanmi Financial Corp
Established in 1982 and headquartered in Los Angeles, Hanmi Financial Corp has grown from its origins serving the Korean-American community to become a significant banking institution with a robust multi-state presence. With a strategic focus on commercial lending, trade finance, and real estate loans, Hanmi has developed a reputation in the financial sector for catering to small and middle market businesses and multi-ethnic communities. The company’s core services encompass a broad range of financial products, ensuring it meets the diverse needs of its customers.
Core Business Areas and Service Offerings
Hanmi Financial Corp primarily generates revenue through loans, including small business, commercial, and real estate lending, as well as through various fee structures and interest income streams. The bank plays a pivotal role in facilitating international trade by offering products such as letters of credit, import and export financing, and specialized trade finance services. These services are designed to support businesses in navigating both domestic and global markets, thereby creating enduring relationships with its clients.
Market Position and Competitive Landscape
Operating primarily in key states such as California, Texas, New York, and others, Hanmi Financial Corp has established itself as the preeminent Korean-American bank in California with the most extensive branch network in the state. Its strategic expansion across multi-ethnic communities into additional markets including Colorado, Georgia, Illinois, New Jersey, Virginia, and Washington distinguishes it from competitors. This geographic and demographic focus, coupled with its specialization in niche lending segments, positions the bank as a distinct entity in a competitive landscape. The company differentiates itself by leveraging its longstanding community ties and expertise in serving targeted business segments, thereby earning trust and credibility in its market.
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.
Hanmi Financial (Nasdaq: HAFC), the holding company for Hanmi Bank, will announce its second quarter 2024 financial results after the market closes on Tuesday, July 23, 2024.
A conference call will be held the same day at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) to discuss the results.
Current and prospective shareholders, along with investment professionals, can join the live call by dialing 1-877-407-9039 using the access code 'Hanmi Bank'.
The webcast and replay will be available on Hanmi’s investor relations page at www.hanmi.com approximately one hour after the call.
Levi & Korsinsky announces a $3,000,000 settlement in the class action lawsuit against Hanmi Financial (NASDAQ: HAFC). The class includes those who bought Hanmi's publicly-traded common stock from August 9, 2018, to April 30, 2020. Eligible shareholders must file a claim by August 7, 2024, to receive a share of the settlement. Levi & Korsinsky, a top securities litigation firm, has secured significant amounts for aggrieved shareholders over the past 20 years. More details and claim forms are available on their website.
Levi & Korsinsky has announced a settlement in the class action lawsuit against Hanmi Financial (NASDAQ: HAFC). The settlement amount is $3 million, available to those who purchased Hanmi common stock between August 9, 2018, and April 30, 2020. Affected shareholders must file a claim form by August 7, 2024, to receive their share. Levi & Korsinsky is not the lead counsel but is informing class members of the deadline. For more information and to file a claim, visit the link provided in the press release.
Hanmi Financial (NASDAQ: HAFC) will participate in the D.A. Davidson 26th Annual Financial Institutions Conference on May 9, 2024, in Colorado Springs, CO. Bonnie Lee, President and CEO, will host meetings with institutional investors. The presentation will be available on the company's website.
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