Hanmi Financial Corporation
- Open
- 32.63
- Day high
- 32.67
- Day low
- 32.13
- Prev close
- 32.63
- Volume
- 216K
- Mkt cap
- $958M
- P/E (TTM)
- 11.9
- EPS (TTM)
- $2.71
- P/B
- 1.2
- P/S
- 2.2
- Yield
- 3.42%
- Per share
- $1.10
- ▼Insiders net selling -$266K over the last 3 months (0 open-market buys, 2 sales)
- 🏛Institutions accumulating (13F)
Hanmi Financial Corporation (HAFC) is a Financial Services company listed on NASDAQ. The stock is up 24% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 2 sales (SEC Form 4).
Hanmi Financial Corporation (HAFC) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 2 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
HAFC earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 21, 2026 | $0.71 | $0.75 | +5.6% | $72M | +0.5% |
| Jan 27, 2026 | $0.71 | $0.70 | -1.4% | $71M | -1.2% |
| Oct 21, 2025 | $0.66 | $0.73 | +10.6% | $71M | -0.6% |
| Jul 22, 2025 | $0.62 | $0.50 | -19.4% | $66M | -3.2% |
| Jan 28, 2025 | $0.53 | $0.58 | +9.4% | $61M | -1.2% |
| Oct 22, 2024 | $0.48 | $0.49 | +2.1% | $58M | -2.3% |
| Jul 23, 2024 | $0.47 | $0.48 | +2.1% | $57M | -3.4% |
| Jan 23, 2024 | $0.59 | $0.61 | +3.4% | $60M | -5.3% |
| Jul 25, 2023 | $0.65 | $0.67 | +3.1% | $61M | -4.2% |
| Jan 24, 2023 | $0.83 | $0.93 | +12.0% | $72M | -1.9% |
| Oct 25, 2022 | $0.78 | $0.89 | +14.1% | $72M | +4.4% |
| Jul 26, 2022 | $0.67 | $0.82 | +22.4% | $68M | +7.2% |
HAFC insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jun 8, 2026 | Kim Anthony I.officer: Chief Banking Officer | Sell | 5,333 | $30.73 |
| May 28, 2026 | Williams Thomas Jamesdirector | Grant | 2,298 | — |
| May 28, 2026 | Ball Christine Pdirector | Grant | 2,298 | — |
| May 28, 2026 | Marasco James Adirector | Grant | 2,298 | — |
| May 28, 2026 | Ahn John Jdirector | Grant | 2,298 | — |
| May 28, 2026 | Chung Harrydirector | Grant | 2,298 | — |
| May 28, 2026 | Chu Christie Kdirector | Grant | 2,298 | — |
| May 28, 2026 | Medici Daniel Johndirector | Grant | 2,298 | — |
| May 28, 2026 | Rosenblum David Ldirector | Grant | 2,298 | — |
| May 28, 2026 | Lee Gloria Jdirector | Grant | 2,298 | — |
| Apr 28, 2026 | Fuhr Matthewofficer: Chief Credit Officer | Sell | 3,300 | $30.83 |
| Apr 6, 2026 | Fuhr Matthewofficer: Chief Credit Officer | Tax | 1,193 | $26.33 |
| Apr 6, 2026 | SANTAROSA ROMOLOofficer: Chief Financial Officer | Tax | 916 | $26.60 |
| Apr 6, 2026 | LEE BONITAofficer: President & CEO | Tax | 3,769 | $26.60 |
| Apr 6, 2026 | Du Michaelofficer: Chief Risk Officer | Tax | 763 | $26.33 |
Source: HAFC SEC Form 4 filings, latest Jun 8, 2026. For informational purposes only — not investment advice.
See the full HAFC insider & 13F page →Hanmi Financial Corporation company profile
Overview
Hanmi Financial Corporation (NASDAQ:HAFC) is a Los Angeles-based bank holding company founded in 1982 that operates through its subsidiary Hanmi Bank. The company has grown from its origins serving the Korean-American community to become a regional bank with 35 full-service branches and 8 loan production offices across nine states including California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington, and Georgia. Hanmi went public in 1994 and has established itself as a relationship-focused community bank specializing in serving small and middle-market businesses, particularly those with Korean business connections.
Business
Hanmi Financial operates as a traditional community bank providing comprehensive banking services to businesses and consumers. The company generates revenue through two primary business segments that reflect typical banking operations. The lending business represents the core revenue driver, encompassing various loan products including commercial real estate loans for property acquisition and construction, commercial and industrial loans providing working capital and term financing to businesses, residential mortgages for home purchases, Small Business Administration (SBA) loans for business expansion and equipment purchases, and consumer loans including home equity lines and credit cards. Commercial real estate historically comprises the largest portion of the loan portfolio, though management is actively working to diversify this concentration. The deposit and treasury services business provides traditional banking products including noninterest-bearing checking accounts, interest-bearing savings and money market accounts, certificates of deposit, and negotiable order of withdrawal accounts. The bank also offers international trade finance services, letters of credit, and import/export financing to support business customers' global operations. A distinguishing feature is Hanmi's Corporate Korea initiative, which focuses on serving U.S. subsidiaries of Korean companies and Korean-American businesses. This specialized segment has grown to represent approximately 15% of both loans and deposits, leveraging the bank's cultural expertise and language capabilities. The bank recently opened a representative office in Seoul, South Korea to further develop these relationships. The loan portfolio composition includes commercial real estate (the largest segment), commercial and industrial loans (15% and growing), residential mortgages (15%), SBA loans, and the Corporate Korea portfolio (15%). Management is actively working to reduce commercial real estate concentration while growing the more diversified commercial and industrial lending business.
Revenue model
Hanmi Financial generates revenue through traditional banking operations centered on the interest rate spread between what it pays depositors and what it charges borrowers. The bank's net interest income represents the primary revenue source, earned by lending customer deposits at higher rates than the cost of funds. Commercial and residential real estate loans, commercial and industrial loans, and SBA loans generate interest income, while the bank pays interest on deposits and borrowings. Noninterest income provides additional revenue through loan origination fees, SBA loan sales in the secondary market (generating 2-2.5% premiums), residential mortgage loan sales, trade finance fees, and traditional banking service charges. The bank actively sells residential mortgages and SBA loans to manage balance sheet composition and generate fee income. The bank's customers include small and middle-market businesses requiring commercial loans, real estate investors and developers, individual consumers seeking mortgages and personal banking services, and importantly, U.S. subsidiaries of Korean companies through the Corporate Korea initiative. This specialized focus on Korean business relationships provides a differentiated customer base and reduces competition for these accounts. Several factors influence Hanmi's profitability margins. Interest rate environments directly impact net interest margins - rising rates generally improve spreads on new loans while increasing deposit costs. Credit quality affects profitability through loan loss provisions, making disciplined underwriting critical. The bank's heavy concentration in commercial real estate exposes it to property market cycles and geographic concentration risk in California. Competition from larger banks and fintech companies pressures both loan pricing and deposit costs. Economic conditions in Korea and trade relationships between the U.S. and Korea specifically impact the Corporate Korea business segment. Regulatory changes affecting community banks, particularly around capital requirements and compliance costs, also influence operating margins.
Competitive moat
Hanmi Financial operates in the highly competitive community banking sector with limited sustainable competitive advantages. The bank's primary differentiator lies in its specialized expertise serving Korean businesses and Korean-American communities, which provides some protection against larger competitors who lack cultural understanding and language capabilities. This niche focus has enabled the Corporate Korea initiative to grow successfully, representing 15% of both loans and deposits. However, this moat is relatively narrow and faces several vulnerabilities. The specialization creates geographic and cultural concentration risk, making the bank dependent on continued Korean business investment in the United States and economic conditions in Korea. Larger banks with greater resources could potentially replicate this expertise by hiring Korean-speaking bankers and developing similar cultural competencies. The bank's relationship-focused approach provides some customer stickiness, particularly for small and middle-market businesses that value personalized service over purely transactional banking. Management emphasizes maintaining long-term customer relationships rather than competing solely on pricing, which can help retain deposits and borrowers. Competition comes from multiple directions: larger regional and national banks with superior technology platforms and broader product offerings, community banks serving similar markets, credit unions offering competitive rates, and emerging fintech lenders providing faster loan approvals and digital-first experiences. The bank's heavy concentration in commercial real estate lending also exposes it to specialized CRE lenders and REITs that can offer more competitive terms. Overall, Hanmi's moat is modest and primarily dependent on its cultural specialization and relationship banking model, which provides some protection but is not insurmountable for well-resourced competitors.
Risks & safety
Hanmi Financial presents a moderate margin of safety profile with mixed risk factors requiring careful consideration. • Liquidity and Solvency: Strong cash position with $305 million in cash and short-term investments against $7.7 billion in total assets. Debt-to-equity ratio of 0.54 is manageable for a bank. No immediate solvency concerns. • Profitability: Consistent profitability with 2024 net income of $62.2 million ($2.05 per share). Return on equity of 8.5% and return on assets of 0.83% are reasonable for a community bank. • Valuation Metrics: Trading at attractive valuation with P/E ratio of 11.5x and price-to-book ratio of 0.98x, suggesting shares trade near book value. • Credit Quality: Excellent asset quality with nonperforming assets at only 0.19% of total assets. Low net charge-offs at 12 basis points indicate disciplined underwriting. • Key Risks: Heavy concentration in commercial real estate lending creates cyclical vulnerability. Geographic concentration in California exposes the bank to regional economic downturns. Interest rate sensitivity could pressure margins if rates decline rapidly. Dependence on Korean business relationships creates concentration risk. • Capital Adequacy: Well-capitalized with strong regulatory capital ratios supporting growth and dividend payments.
Recent development
Over the past several years, Hanmi Financial has pursued a strategic transformation focused on diversifying its loan portfolio and expanding beyond its traditional California base. The most significant initiative has been the Corporate Korea program, which targets U.S. subsidiaries of Korean companies and has grown to represent 15% of both loans and deposits. This specialization culminated in 2024 with the opening of a representative office in Seoul, South Korea, to strengthen these business relationships. Management has actively worked to reduce commercial real estate concentration while growing the commercial and industrial loan portfolio, which increased 16% in 2024 and now represents 15% of total loans. The bank has also expanded geographically, opening new branches in Atlanta and other markets outside California to diversify its geographic footprint. Balance sheet optimization has been another key focus, with the bank regularly selling residential mortgages and SBA loans in the secondary market to manage portfolio composition and generate fee income. The bank targets approximately $30 million in quarterly residential mortgage sales at 2-2.5% premiums. Technology investments have included implementing a new loan origination system to improve efficiency and customer service. The bank has also optimized its branch network, consolidating underperforming locations while opening new branches in growth markets. Capital management has emphasized returning capital to shareholders through both dividends and share repurchases, with the bank returning approximately 64% of earnings to shareholders in 2024. The quarterly dividend was increased 8% to $0.27 per share, reflecting confidence in earnings sustainability.
HAFC company profile · for informational purposes only — not investment advice.
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