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Jun 30, 2021
Hanmi Q2 2021 Earnings Report
Hanmi's second quarter earnings were driven by loan and lease production, deposit growth, and improved asset quality, resulting in record earnings.
Key Takeaways
Hanmi Financial Corporation reported a record net income of $22.1 million for the second quarter of 2021, driven by loan and lease production, deposit growth and improving asset quality.
Net income for the second quarter of 2021 was $22.1 million, or $0.72 per diluted share, compared to $16.7 million, or $0.54 per diluted share for the first quarter.
New loan and lease production increased to $465.6 million, up nearly 34% from the prior quarter.
Excluding PPP loans, loans receivable were up 2.5% from the prior quarter.
Nonaccrual loans declined nearly 30% from the prior quarter, with a $3.3 million recovery of credit loss expense.