Hanmi Financial Corporation (NASDAQ: HAFC) (“Hanmi” or “the company”) is a $7.6 billion-asset bank holding company for Hanmi Bank (“the bank”), an FDIC designated minority depository institution. Headquartered in Los Angeles, California, the bank operates 35 branches and 8 LPOs across the U.S., strategically in high Asian-American and multi-ethnic population MSAs, though Southern CA remains the center of the company’s operation.
The company’s long-term strategy includes targeted geographic expansion, further diversifying the loan portfolio, leveraging technology to enhance processes, diversifying fee income sources, deepening commercial banking relationships with U.S. Subsidiaries of Korean Companies (“USKC”), and strengthening the core deposit base.
The bank’s $6.2 billion loan portfolio is commercially oriented, with investor CRE loans (including multi-family) constituting 50% of total loans and commercial and industrial (C&I) and…
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