Hanmi Financial Stock Price, News & Analysis

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.

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.