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) is set to release its second quarter 2021 financial results on July 27, 2021, after market close. A conference call will follow at 2:00 p.m. Pacific Time for discussion. Investment professionals and shareholders can join the call by dialing 1-877-407-9039 or listening online at Hanmi's Investor Relations page. Hanmi operates 35 branches and 9 loan offices across several states, focusing on lending to small and middle-market businesses.
Hanmi Financial Corporation (NASDAQ: HAFC) declared a cash dividend of $0.12 per share for Q2 2021, representing a 20% increase from the previous quarter's $0.10. The dividend is payable on May 27, 2021, to shareholders of record by May 10, 2021. President and CEO Bonnie Lee expressed optimism, stating the increase reflects the Board's confidence in the bank's growth as the economy improves post-pandemic. The Board will continue to evaluate future dividends based on the bank's financial performance amidst ongoing challenges from COVID-19.
Hanmi Financial Corporation (HAFC) reported a strong Q1 2021 with net income of $16.7 million, translating to $0.54 per diluted share, up from $14.3 million in Q4 2020. Loans receivable declined to $4.82 billion, but deposits grew by 4.5% to $5.51 billion, driven by a surge in noninterest-bearing demand deposits. Credit loss expense decreased significantly to $2.1 million, and nonperforming assets fell by 33.7% year-over-year, indicating improving asset quality. The bank remains well-capitalized with a total risk-based capital ratio of 14.96% and expects continued profitable growth.
Hanmi Financial Corporation (Nasdaq: HAFC) announced it will report its first quarter 2021 financial results on April 27, 2021, after market close. A conference call for investors will follow at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on the same day. Investors can participate by calling 1-877-407-9039 or listening online via Hanmi's Investor Relations page. Hanmi Financial operates Hanmi Bank, which supports multi-ethnic communities with 35 branches and specialized lending services across multiple states.
Hanmi Financial Corporation (Nasdaq: HAFC) announced the resumption of its stock repurchase program, which allows for the buyback of up to 5% of its outstanding shares, approximately 1.5 million shares. The company had paused the program in early 2020 due to COVID-19 uncertainties. As of February 12, 2021, 989,600 shares remain available for repurchase. CEO Bonnie Lee stated that recent financial stability and capital levels support this decision. Repurchases will be executed at management's discretion and may vary based on market conditions and performance.
Hanmi Financial Corporation (Nasdaq: HAFC) announced the appointment of Gideon Yu to its Board of Directors, effective January 27, 2021. With over 20 years of experience in finance and executive management, Yu has previously held key positions at Facebook and YouTube, and co-owned the San Francisco 49ers. Hanmi's Chairman, John J. Ahn, expressed confidence in Yu's ability to drive the company's growth and strengthen community relations. This strategic addition aims to enhance Hanmi's objectives in serving diverse communities across its multiple branches.
Hanmi Financial Corporation (NASDAQ: HAFC) declared a cash dividend of $0.10 per share for Q1 2021, marking a 25% increase from the previous $0.08. This dividend will be paid on February 24, 2021, to shareholders of record as of February 8, 2021. The annualized yield is now 3.14%, based on the closing price of $12.75. CEO Bonnie Lee expressed confidence in Hanmi's recovery from the pandemic and its ability to foster profitable growth for shareholders. The Board will continue monitoring financial performance and adjust future dividends accordingly.
Hanmi Financial Corporation (Nasdaq: HAFC) announced participation in several upcoming virtual investor conferences. These include the Janney Virtual Bank CEO Forum on February 3-4, 2021, the KBW Virtual Winter Financial Services Symposium from February 10-12, 2021, and the Piper Sandler Virtual Western Financial Services Conference on March 2, 2021. All events will feature one-on-one meetings with investors and require prior registration. Hanmi serves diverse communities through 35 branches and 9 loan production offices across multiple states, focusing on lending to small and middle market businesses.
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.
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