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Sep 30, 2023
Hanmi Q3 2023 Earnings Report
Reported solid third quarter results driven by relationship banking model and disciplined lending approach.
Key Takeaways
Hanmi Financial Corporation reported a net income of $18.8 million for Q3 2023, a decrease compared to the previous quarter. The results reflect the strength of their franchise and success of their relationship banking model amidst economic uncertainty and higher interest rates.
Net income for the third quarter of 2023 was $18.8 million, or $0.62 per diluted share.
Loan production increased in the third quarter, reflecting contributions from nearly all business lines.
Asset quality remains excellent due to direct customer relationships and proactive credit administration.
The company is entering the fourth quarter with a healthy loan pipeline, stable core deposits, solid credit quality, and well-managed expenses.
Forward Guidance
Hanmi looks forward to opening two new branches in the fourth quarter to capitalize on attractive growth opportunities and will remain focused on executing on their strategic initiatives to drive disciplined growth and to create value for their shareholders over the long-term.
Positive Outlook
- Healthy loan pipeline
- Stable core deposits
- Solid credit quality
- Well-managed expenses
- Opening two new branches in Q4
Historical Earnings Impact
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Avg. Return Before/After Earnings
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