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Dec 31, 2023
Hanmi Q4 2023 Earnings Report
Reported strong fourth quarter results and built a solid foundation for 2024.
Key Takeaways
Hanmi Financial Corporation reported a net income of $18.6 million for the fourth quarter of 2023, with an annualized return on average assets of 0.99% and a return on average equity of 9.70%. The company saw a decrease in net interest income but optimized its banking network with new branch locations.
Net income for the fourth quarter of 2023 was $18.6 million, or $0.61 per diluted share.
Opened two new branch locations, optimizing the banking network.
New loan production was $389.5 million for the fourth quarter of 2023 at an average rate of 8.10%.
Nonperforming loans improved to 0.25% at quarter-end.
Hanmi
Hanmi
Forward Guidance
Hanmi will continue to take a selective and disciplined approach to lending, focusing on attractively priced loans and high-quality borrowers.
Positive Outlook
- Continue to take a selective and disciplined approach to lending
- Focus on attractively priced loans and high-quality borrowers.
- Continue to invest in our people
- Continue to invest in technology.
- Continue to invest in infrastructure to drive operational efficiencies
Challenges Ahead
- Near-term macroeconomic uncertainty