Last $20.75 USD
Change Today +0.20 / 0.97%
Volume 109.2K
HAFC On Other Exchanges
Symbol
Exchange
Berlin
NASDAQ GS
As of 8:10 PM 09/2/14 All times are local (Market data is delayed by at least 15 minutes).

hanmi financial corporation (HAFC) Snapshot

Open
$20.53
Previous Close
$20.55
Day High
$20.80
Day Low
$20.38
52 Week High
03/13/14 - $25.07
52 Week Low
09/9/13 - $15.85
Market Cap
661.1M
Average Volume 10 Days
92.8K
EPS TTM
$1.36
Shares Outstanding
31.9M
EX-Date
06/26/14
P/E TM
15.2x
Dividend
$0.28
Dividend Yield
1.35%
Current Stock Chart for HANMI FINANCIAL CORPORATION (HAFC)

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hanmi financial corporation (HAFC) Details

Hanmi Financial Corporation operates as the holding company for Hanmi Bank that operates as a community bank in the United States. The company offers a range of deposit products, including non-interest bearing checking accounts, interest bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit. It also provides real estate loans, such as commercial property, construction, and residential property loans; commercial and industrial loans, including commercial term loans, commercial lines of credit, small business administration loans, and international trade finance; and consumer loans consisting of automobile loans, secured and unsecured personal loans, home improvement loans, home equity lines of credit, and unsecured lines of credit and credit cards. In addition, the company offers insurance products, such as life, commercial, automobile, health, and property and casualty. It serves the Korean-American community, as well as other communities in the multi-ethnic populations. As of April 22, 2013, the company operated 27 branch offices Los Angeles, Orange, San Bernardino, San Francisco, Santa Clara, and San Diego counties in California; and 2 loan production offices in Texas and Washington State. Hanmi Financial Corporation was founded in 1981 and is headquartered in Los Angeles, California.

480 Employees
Last Reported Date: 03/17/14
Founded in 1981

hanmi financial corporation (HAFC) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $238.8K
Chief Financial Officer, Principal Accounting...
Total Annual Compensation: $220.2K
Chief Operating Officer, Senior Executive Vic...
Total Annual Compensation: $118.8K
Compensation as of Fiscal Year 2013.

hanmi financial corporation (HAFC) Key Developments

Hanmi Financial Corporation to Close Branch

Hanmi Financial Corp. completed a 7% reduction in its workforce in the second quarter and is in the process of closing one branch.

Hanmi Financial Corporation Reports Unaudited Consolidated Earnings Results for the Second Quarter Ended June 30, 2014; Reports Net Charge-Offs for the Second Quarter Ended June 30, 2014

Hanmi Financial Corporation reported unaudited consolidated earnings results for the second quarter ended June 30, 2014. For the quarter, the company reported net income of $11,042,000 against $9,487,000 a year ago. Net income per basic and diluted common share was $0.35 against $0.30 a year ago. Total interest and dividend income was $31,176,000 against $30,379,000 a year ago. Income from continuing operations before provision for income taxes was $18,375,000 against $15,285,000 a year ago. Income from continuing operations, net of taxes was $11,509,000 or $0.36 basic and diluted per share against $9,327,000 or $0.29 diluted per share a year ago. Return on average assets was 1.54% against 1.34% a year ago. Return on average stockholders equity was 11.05% against 9.53% a year ago. Return on average tangible equity was 11.05% against 9.56% a year ago. Net interest income after provision for credit losses was $31,859,000 against $27,154,000 a year ago. For the six months, the company reported total interest and dividend income of $62,403,000 against $59,774,000 a year ago. Net interest income, before provision for credit losses $55,950,000 against $52,758,000 a year ago. Net interest income after provision for credit losses $63,116,000 against $52,758,000 a year ago. Income from continuing operations before provision for income taxes was $37,187,000 against $30,382,000 a year ago. Income from continuing operations, net of taxes was $22,477,000 or $0.70 diluted per share against $19,456,000 or $0.62 basic and diluted per share a year ago. Net income was $22,033,000 or $0.69 diluted per share against $19,545,000 or $0.62 basic and diluted per share a year ago. Net income per diluted common share was $0.69 against $0.62 a year ago. Return on average assets was 1.52% against 1.40% a year ago. Return on average stockholders equity was 11.01% against 10.13% a year ago. Return on average tangible equity was 11.03% against 10.16% a year ago. The company reported net charge-offs of $806,000 in the second quarter of 2014, compared to net recoveries of $2.6 million in the preceding quarter and net charge-offs of $1,600,000 a year ago.

Hanmi Financial Seeks Acquisitions

Hanmi Financial Corporation (NasdaqGS:HAFC) will seek acquisitions. C.G. Kum, President and Chief Executive Officer of Hanmi said, "We will continuously look for ways by which to enhance the portfolio size by acquisitions. One of the other reasons why we are looking at these kinds of situations is because, with the acquisition of Central Bancorp, we will be picking up significant line of liquidity that needs to be deployed into earning assets. And, by having these acquisitions of portfolios, we are in position to acquire some assets that enables us to quickly deploy some of the surplus liquidity that we are going to pick up.

 

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Industry Analysis

HAFC

Industry Average

Valuation HAFC Industry Range
Price/Earnings 15.2x
Price/Sales 4.4x
Price/Book 1.5x
Price/Cash Flow 15.4x
TEV/Sales 2.9x
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