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Jun 30, 2023
Hanmi Q2 2023 Earnings Report
Hanmi delivered solid results, reflecting steady execution of relationship banking strategy amidst rising interest rates and uncertain economic conditions.
Key Takeaways
Hanmi Financial Corporation reported a net income of $20.6 million for Q2 2023, with earnings per diluted share at $0.67. The results were supported by deposit growth, expense management, and credit administration. Deposits grew by 1.9%, and the loan pipeline began to grow as the company entered the third quarter.
Net income for the second quarter of 2023 was $20.6 million, or $0.67 per diluted share.
Deposits increased by 1.9% due to contributions from both new and existing customers.
Loan production has been impacted by lower demand due to escalating interest rates, but the loan pipeline began to grow as we entered the third quarter.
Nonperforming loans were 0.37% at quarter-end.
Hanmi
Hanmi
Forward Guidance
The company is well-positioned to navigate the remainder of the year with a strong base of loyal customers, a growing pipeline of new opportunities, a healthy balance sheet and liquidity position, excellent credit quality and an outstanding and dedicated team.
Positive Outlook
- Strong base of loyal customers
- Growing pipeline of new opportunities
- Healthy balance sheet and liquidity position
- Excellent credit quality
- Outstanding and dedicated team