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 Corporation reports bank earnings and capital actions as the parent company of Hanmi Bank. The bank serves multi-ethnic communities across several U.S. markets and specializes in real estate, commercial, SBA and trade finance lending to small and middle market businesses.
Recurring company updates include quarterly and annual results, loan and deposit trends, net interest margin, asset quality, liquidity and capital ratios. Hanmi also issues news on common-stock dividends, share repurchase authorizations, annual shareholder communications, investor presentations and bank-industry conference participation.
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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