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Mar 31, 2021
Hanmi Q1 2021 Earnings Report
Hanmi reported solid first quarter performance highlighted by strong loan production, notable deposit growth, careful noninterest expense management, a significant improvement in nonaccrual loans, and excellent earnings.
Key Takeaways
Hanmi Financial Corporation reported a net income of $16.7 million, or $0.54 per diluted share, for the first quarter of 2021. Loan production reached $348.0 million, and total deposits expanded 4.5% from the prior quarter and 20.2% from a year ago.
Net income for the first quarter of 2021 was $16.7 million, or $0.54 per diluted share, compared to $2.4 million, or $0.08 per diluted share for the first quarter of 2020.
Loan production reached $348.0 million, including $131.5 million of second draw PPP loans.
Total deposits expanded 4.5% from the prior quarter and 20.2% from a year ago.
Noninterest expense was nearly flat on both a sequential quarter and year-over-year basis.
Hanmi
Hanmi
Forward Guidance
Hanmi is well-positioned to generate profitable growth as they emerge from the pandemic and macro-economic conditions continue to improve, given their strong capital position, improving credit quality, ongoing expense management and solid loan origination pipeline.
Positive Outlook
- Strong capital position
- Improving credit quality
- Ongoing expense management
- Solid loan origination pipeline
- Well-positioned to generate profitable growth