$HAFC

HANMI FINANCIAL CORP

CIK:0001109242|SEC Filings

Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Interest and dividend income:
Interest and fees on loans	$ 94,808	$ 92,589	$ 188,674	$ 183,476
Interest on securities	6,337	6,261	12,296	12,430
Dividends on FHLB stock	219	354	1,050	714
Interest on deposits in other banks	1,958	2,129	3,454	3,969
Total interest and dividend income	103,322	101,333	205,474	200,589
Interest expense:
Interest on deposits	37,774	41,924	74,512	82,483
Interest on borrowings	154	684	830	2,708
Interest on subordinated debentures	1,537	1,586	3,072	3,167
Total interest expense	39,465	44,194	78,414	88,358
Net interest income before credit loss expense	63,857	57,139	127,060	112,231
Credit loss expense	1,186	7,631	4,078	10,352
Net interest income after credit loss expense	62,671	49,508	122,982	101,879
Noninterest income:
Service charges on deposit accounts	2,102	2,169	4,229	4,387
Trade finance and other service charges and fees	1,902	1,461	3,403	2,858
Gain on sale of Small Business Administration ("SBA") loans	1,318	2,160	3,421	4,161
Gain on sale of residential mortgage loans	357		842	175
Other operating income	2,669	2,281	4,992	4,215
Total noninterest income	8,348	8,071	16,887	15,796
Noninterest expense:
Salaries and employee benefits	22,784	22,069	44,740	43,041
Occupancy and equipment	4,383	4,344	8,797	8,794
Data processing	4,555	3,727	8,941	7,514
Professional fees	1,997	1,725	4,777	3,194
Supplies and communications	491	515	1,047	1,031
Advertising and promotion	679	798	1,368	1,382
Other operating expenses	4,150	3,169	7,737	6,374
Total noninterest expense	39,039	36,347	77,407	71,330
Income before tax	31,980	21,232	62,462	46,345
Income tax expense	8,475	6,115	16,400	13,556
Net income	$ 23,505	$ 15,117	$ 46,062	$ 32,789
Basic earnings per share	$ 0.79	$ 0.5	$ 1.54	$ 1.09
Diluted earnings per share	$ 0.79	$ 0.5	$ 1.54	$ 1.08
Weighted-average shares outstanding:
Basic	29,514,712	29,948,836	29,593,872	29,943,279
Diluted	29,689,113	30,054,456	29,770,045	30,048,704

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 46,062	$ 32,789
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	1,720	1,629
Amortization of servicing assets - net	1,153	1,335
Share-based compensation expense	1,636	1,756
Credit loss expense	4,078	10,352
Gain on sales of other real estate owned	(850)
Gain on sales of SBA loans	(3,421)	(4,161)
Gain on sales of residential mortgage loans	(842)	(175)
Origination of loans held for sale	(128,320)	(108,610)
Proceeds from sales of loans	123,263	83,090
Change in bank-owned life insurance	649	183
Change in prepaid expenses and other assets	(6,624)	(4,686)
Change in income tax assets	(11,839)	(988)
Change in accrued interest payable and other liabilities	(11,613)	(4,636)
Net cash provided by operating activities	15,052	7,878
Cash flows from investing activities:
Purchases of securities available for sale	(181,101)	(101,004)
Proceeds from matured, called and repayment of securities	159,276	109,626
Purchases of loans	(12,569)	(44,631)
Purchases of premises and equipment	(1,592)	(832)
Proceeds from disposition of premises and equipment	16	14
Proceeds from sales of other real estate owned ("OREO")	2,830	713
Change in loans, excluding purchases and sales	36,788	(34,761)
Net cash provided by (used in) investing activities	3,648	(70,875)
Cash flows from financing activities:
Change in deposits	277,692	293,346
Change in open FHLB advances		(135,000)
Repayments of FHLB term advances	(150,000)
Cash paid for surrendered employee vested shares due to tax liability	(1,483)	(938)
Repurchase of common stock	(9,646)	(2,754)
Cash dividends paid	(16,898)	(16,407)
Net cash provided by financing activities	99,665	138,247
Net increase in cash and due from banks	118,365	75,250
Cash and due from banks at beginning of year	212,841	304,800
Cash and due from banks at end of period	331,206	380,050
Supplemental disclosures of cash flow information:
Interest paid	85,667	92,615
Income taxes paid	26,884	13,590
Non-cash activities:
Transfer of loans to loans held for sale	1,433
Income tax benefit (expense) related to other comprehensive income items	1,271	(6,484)
Right-of-use asset obtained in exchange for lease liability	$ 3,591	$ 3,814

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Assets
Cash and due from banks	$ 331,206	$ 212,841
Securities available for sale, at fair value (amortized cost of $962,255 and $941,760 as of June 30, 2026 and December 31, 2025, respectively)	896,610	880,624
Loans held for sale, at the lower of cost or fair value	16,969	7,403
Loans, net of allowance for credit losses of $70,475 and $69,903 as of June 30, 2026 and December 31, 2025, respectively	6,464,837	6,493,465
Accrued interest receivable	24,613	24,466
Premises and equipment, net	20,251	20,378
Customers' liability on acceptances	116	125
Servicing assets	6,419	6,459
Goodwill	11,031	11,031
Federal Home Loan Bank ("FHLB") stock, at cost	16,385	16,385
Income tax assets	53,555	40,467
Bank-owned life insurance	56,048	56,697
Prepaid expenses and other assets	103,433	98,844
Total assets	8,001,473	7,869,185
Deposits:
Noninterest-bearing	2,135,418	2,015,212
Interest-bearing	4,819,924	4,662,438
Total deposits	6,955,342	6,677,650
Accrued interest payable	27,530	34,783
Bank's liability on acceptances	116	125
Borrowings		150,000
Subordinated debentures	130,773	130,463
Accrued expenses and other liabilities	75,032	79,778
Total liabilities	7,188,793	7,072,799
Stockholders' equity:
Preferred stock, $0.001 par value; authorized 10,000,000 shares; no shares issued as of June 30, 2026 and December 31, 2025
Common stock, $0.001 par value; authorized 62,500,000 shares; issued 34,445,437 shares (29,650,306 shares outstanding) and 34,287,779 shares (29,894,757 shares outstanding) as of June 30, 2026 and December 31, 2025, respectively	34	34
Additional paid-in capital	596,303	594,667
Accumulated other comprehensive loss, net of tax benefit of $19,093 and $17,822 as of June 30, 2026 and December 31, 2025, respectively	(46,552)	(43,175)
Retained earnings	423,499	394,335
Less treasury stock; 4,795,131 shares and 4,393,022 shares as of June 30, 2026 and December 31, 2025, respectively	(160,604)	(149,475)
Total stockholders' equity	812,680	796,386
Total liabilities and stockholders' equity	$ 8,001,473	$ 7,869,185