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Jun 30, 2024
Hanmi Q2 2024 Earnings Report
Reported a decrease in net income due to lower net interest income and higher credit loss expense, offset by higher noninterest income and lower noninterest expense.
Key Takeaways
Hanmi Financial Corporation reported net income of $14.5 million, or $0.48 per diluted share, for the second quarter of 2024. The company experienced a decrease in net interest income due to higher interest-bearing deposit costs, but this was partially offset by an increase in noninterest income and a decrease in noninterest expense. The company maintains strong asset quality and capital ratios.
Net income was $14.5 million, or $0.48 per diluted share, down 4.7% from the prior quarter.
Loans receivable were $6.18 billion, consistent with the prior quarter.
Deposits were $6.33 billion, down 0.7% from the prior quarter, with noninterest-bearing demand deposits representing 31.0% of total deposits.
Tangible common equity to tangible assets was 9.19%, Common equity tier 1 capital ratio was 12.11% and total capital ratio was 15.24%.
Forward Guidance
This document does not contain forward guidance.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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