Hanmi Financial - HAFC STOCK NEWS

Hanmi Financial Corporation (HAFC) reported a record net income of $22.1 million, or $0.72 per diluted share, for Q2 2021, up from $16.7 million in Q1 2021 and $9.2 million in Q2 2020. Total loans receivable remained stable at $4.82 billion, with a 2.5% increase excluding PPP loans. Deposits increased 2.2% to $5.63 billion, driven by an 8.3% rise in noninterest-bearing demand deposits. The net interest margin improved to 3.19%, while noninterest income fell 9.4% to $8.9 million.

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.