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 Corporation (NASDAQ: HAFC) reported its fourth quarter and full year 2020 financial results, highlighting a net income of $14.3 million in Q4, down 12.3% from the previous quarter. For the full year, net income rose 28.7% to $42.2 million. Loans receivable increased to $4.88 billion, up 5.9% year-over-year, while deposits reached $5.28 billion, a 12.3% increase. The credit loss expense surged to $5.1 million from $0.04 million in the prior quarter, indicating potential concerns in asset quality amid the ongoing pandemic.
Hanmi Financial Corporation (Nasdaq: HAFC) will report its fourth quarter 2020 financial results on January 26, 2021, after the market closes. A conference call to discuss these results will take place on the same day at 2:00 p.m. PT (5:00 p.m. ET). Interested parties can participate by dialing 1-877-407-9039 with the access code HANMI or by visiting Hanmi's Investor Relations page for live and archived access.
Hanmi Financial, based in Los Angeles, operates Hanmi Bank, focusing on lending to small and middle-market businesses across several states.
Hanmi Financial Corporation (NASDAQ: HAFC) has declared a cash dividend of $0.08 per share for Q4 2020. This dividend will be paid on November 30, 2020, to stockholders of record by November 16, 2020. The Board of Directors will continue to evaluate the company's financial health amidst the COVID-19 pandemic and may adjust future dividends accordingly. Hanmi Bank, a subsidiary, operates across various states, focusing on lending to small and middle-market businesses.
Hanmi Financial Corporation (HAFC) reported a net income of $16.3 million, or $0.53 per diluted share for Q3 2020, reflecting a 78.1% increase from Q2 2020 and a 32.1% increase from Q3 2019. Loans receivable remained stable at $4.83 billion, growing 5.8% year-over-year. Total deposits reached $5.19 billion, a slight decline from the previous quarter but a 10.7% increase year-on-year. The credit loss expense dramatically decreased to $0.04 million, and nonperforming assets rose to 1.07% of total assets.
Hanmi Financial Corporation (Nasdaq: HAFC) has announced it will report its third quarter 2020 financial results on October 27, 2020, after market close. A conference call will follow at 2:00 p.m. Pacific Time, inviting investment professionals and shareholders to review the results. The company, headquartered in Los Angeles, operates 35 branches and 9 loan production offices across multiple states, focusing on real estate, commercial, and trade finance lending to small and mid-market businesses.
Hanmi Financial Corporation (NASDAQ: HAFC) has reduced its quarterly cash dividend to $0.08 per share for Q3 2020, down from previous levels due to ongoing uncertainties from the COVID-19 pandemic. This decision reflects the company's prudent approach to maintain financial stability during these challenging times. The dividend will be paid on August 31, 2020, to stockholders on record as of August 10, 2020. The Board will re-evaluate future dividends quarterly as the situation evolves.
Hanmi Financial Corporation (NASDAQ: HAFC) reported a robust performance for Q2 2020, achieving a net income of $9.2 million ($0.30 per diluted share), a significant increase from $2.4 million ($0.08) in Q1 2020 and $2.7 million ($0.09) for Q2 2019. Loans receivable rose to $4.83 billion, up 6.2% quarterly and 5.9% year-over-year, driven by $308.8 million from the Paycheck Protection Program. Deposits surged 13.7% to $5.21 billion. Despite a 45 basis points decline in the cost of interest-bearing deposits, net interest income grew slightly to $44.4 million.
Hanmi Financial Corporation (Nasdaq: HAFC) will report its second quarter 2020 financial results on July 28, 2020, at market close. A conference call to discuss the results is scheduled for 2:00 p.m. PT (5:00 p.m. ET) on the same day. Interested parties can join the call by calling 1-877-407-9039 and using access code HANMI. The call will also be available online via Hanmi’s Investor Relations page. Hanmi Financial operates 35 branches in various states, focusing on lending to small and mid-sized businesses.
Hanmi Financial Corporation (NASDAQ: HAFC) announced a change in the Annual Meeting of Stockholders, now to be held digitally on June 10, 2020, at 10:30 a.m. local time due to COVID-19 health concerns. Stockholders of record as of April 17, 2020, can participate by registering online before June 8, 2020. Registration will provide unique links for meeting access, online voting, and question submissions. The company emphasizes voting by proxy even if attendance is not possible. Hanmi Bank serves numerous communities with a focus on real estate and commercial lending.
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