olivLaw · US equity research
Hanmi Financial Corporation HAFC
National Commercial Banks · SIC 6021 · Vertical: National Commercial Banks (SIC 6021)
Hanmi Financial is the holding company for Hanmi Bank, a community bank serving primarily the Korean-American community and other multi-ethnic communities in California and other U.S. states, with a strong focus on commercial and real estate lending. In the second quarter of 2026 the bank reported net income of $23.5 million, and deposits reached $7.0 billion.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 06 Nov 2026, Hanmi Financial Corporation (HAFC) stock was 32.68 USD (+0.46% on the day), with market capitalisation 968.9 m USD, P/E 11.0 on diluted EPS of 2.97 USD over the last 12 months, dividend yield 3.37%, beta 0.78, 52-week range 24.77–33.70 USD. Latest reported quarter (Q2 2026): revenue of 72.2 m USD (+10.7% YoY), net income of 23.5 m USD (+55.5% YoY), diluted EPS 0.79 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 54.7
- neutral
- Bollinger (20, 2)
- 30.23 – 33.88
- in the upper half of the band · %B 0.67 · band width 11.4%
- SMA 50 / 200
- 31.80 / 30.00
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.41 / 0.33
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +4.1% | −5.9% | +10.1 pp | — |
| 3 months | +2.4% | −4.6% | +7.0 pp | — |
| 6 months | +7.6% | +0.2% | +7.4 pp | — |
| Year to date | +20.9% | +7.4% | +13.5 pp | — |
| 1 year | +23.7% | +8.2% | +15.5 pp | +16.7% |
| 3 years | +104.1% | +68.4% | +35.7 pp | +69.1% |
| 5 years | +36.3% | +56.5% | −20.3 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 58.5 m | 60.8 m | 62.8 m | 65.2 m | 71.0 m | 71.2 m | 71.7 m | 72.2 m |
| Operating income | 14.9 m | 17.7 m | 17.7 m | 15.1 m | 22.1 m | 21.2 m | 22.6 m | 23.5 m |
| Depreciation & amortisation | -777.0 k ≈ | 763.0 k | 801.0 k | 828.0 k ≈ | 829.0 k ≈ | 842.0 k | 862.0 k | 858.0 k ≈ |
| Pre-tax income | 21.1 m | 25.3 m | 25.1 m | 21.2 m | 31.5 m | 30.1 m | 30.5 m | 32.0 m |
| Income tax | 6.2 m | 7.6 m | 7.4 m | 6.1 m | 9.4 m | 8.9 m | 7.9 m | 8.5 m |
| Net income | 14.9 m | 17.7 m | 17.7 m | 15.1 m | 22.1 m | 21.2 m | 22.6 m | 23.5 m |
| Diluted EPS | 0.49 | 0.59 ≈ | 0.58 | 0.50 | 0.73 | 0.70 ≈ | 0.75 | 0.79 |
| Operating cash flow | 6.7 m ≈ | 13.8 m | 26.4 m | -18.5 m ≈ | 145.9 m ≈ | 52.2 m | 23.9 m | -8.8 m ≈ |
| Capex | 217.0 k ≈ | 840.0 k | 263.0 k | 569.0 k ≈ | 560.0 k ≈ | 915.0 k | 499.0 k | 1.1 m ≈ |
| Dividends paid | 7.6 m ≈ | 7.5 m | 8.2 m | 8.3 m ≈ | 8.1 m ≈ | 8.1 m | 8.4 m | 8.5 m ≈ |
| Share repurchases | 1.4 m ≈ | 554.0 k | 1.1 m | 1.6 m ≈ | 4.7 m ≈ | 2.0 m | 4.8 m | 4.8 m ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 59 percentile of its own 39-quarter history (min 4.6, median 10.7, max 19.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | unavailable | unavailable | unavailable | unavailable | 271.8 m | 255.5 m | 234.4 m | 270.2 m |
| Revenue YoY | unavailable | unavailable | unavailable | unavailable | unavailable | −6.0% | −8.3% | +15.3% |
| Net income | 57.9 m | 32.8 m | 42.2 m | 98.7 m | 101.4 m | 80.0 m | 62.2 m | 76.1 m |
| Net income YoY | +5.9% | −43.3% | +28.7% | +133.9% | +2.8% | −21.1% | −22.3% | +22.3% |
| Diluted EPS | 1.79 | 1.06 | 1.38 | 3.22 | 3.32 | 2.62 | 2.05 | 2.51 |
| Diluted EPS YoY | +5.9% | −40.8% | +30.2% | +133.3% | +3.1% | −21.1% | −21.8% | +22.4% |
| net % | unavailable | unavailable | unavailable | unavailable | 37.3% | 31.3% | 26.5% | 28.2% |
| Free cash flow | 72.9 m | 57.2 m | 55.8 m | 91.0 m | 145.4 m | 106.8 m | 49.9 m | 203.7 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 212.8 m USD
- Financial debt
- unavailable USD
- Net debt
- unavailable USD
- Equity
- 796.4 m USD
- Total assets
- 7.9 bn USD
- Debt / equity
- unavailable
- Current ratio
- unavailable
- ROE
- 10.0%
- ROA
- 1.0%
- FCF margin
- 75.4%
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Net interest income | 180.9 m | 195.1 m | 237.6 m | 221.3 m | 202.8 m | 236.2 m | SEC (XBRL)· 27 Feb 2026verified |
| Net fee income | 43.1 m | 40.5 m | 34.2 m | 34.2 m | 31.6 m | 34.0 m | SEC (XBRL)· 27 Feb 2026verified |
| Non-interest expense | 119.1 m | 124.5 m | 130.3 m | 136.5 m | 141.3 m | 147.8 m | SEC (XBRL)· 27 Feb 2026verified |
| Pre-tax income | 59.5 m | 135.5 m | 140.7 m | 114.6 m | 88.6 m | 107.9 m | SEC (XBRL)· 27 Feb 2026verified |
| Net income | 42.2 m | 98.7 m | 101.4 m | 80.0 m | 62.2 m | 76.1 m | SEC (XBRL)· 27 Feb 2026verified |
| Diluted EPS | 1.38 | 3.22 | 3.32 | 2.62 | 2.05 | 2.51 | SEC (XBRL)· 27 Feb 2026verified |
| Dividend per share | 0.52 | 0.54 | 0.94 | 1.00 | 1.00 | 1.08 | SEC (XBRL)· 27 Feb 2026verified |
Balance sheet · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Cash | 391.8 m | 609.0 m | 352.4 m | 302.3 m | 304.8 m | 212.8 m | SEC (XBRL)· 08 May 2026verified |
| Loans | 4.8 bn | 5.1 bn | 5.9 bn | 6.1 bn | 6.2 bn | 6.5 bn | SEC (XBRL)· 27 Feb 2026verified |
| Total assets | 6.2 bn | 6.9 bn | 7.4 bn | 7.6 bn | 7.7 bn | 7.9 bn | SEC (XBRL)· 27 Feb 2026verified |
| Deposits | 5.3 bn | 5.8 bn | 6.2 bn | 6.3 bn | 6.4 bn | 6.7 bn | SEC (XBRL)· 27 Feb 2026verified |
| Total liabilities | 5.6 bn | 6.2 bn | 6.7 bn | 6.9 bn | 6.9 bn | 7.1 bn | SEC (XBRL)· 27 Feb 2026verified |
| Equity | 577.0 m † | 643.4 m † | 637.5 m † | 701.9 m † | 732.2 m † | 796.4 m † | SEC (XBRL)· 27 Feb 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|---|---|---|
| Dividends paid | 16.0 m | 16.5 m | 28.6 m | 30.5 m | 30.4 m | 32.6 m | SEC (XBRL)· 27 Feb 2026verified |
| Share repurchases | 2.2 m | 6.1 m | — | 4.1 m | 6.3 m | 9.4 m | SEC (XBRL)· 27 Feb 2026verified |
Computed indicators
Growth
Profitability
Returns
Market and valuation
Banking
32 indicators that do not apply to the sector.
Valuation
olivLaw classification
Score: 47 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
06 Nov 2026Source: olivLaw, closing series
Market cap: 968.9 m USD
Key indicators
Coverage and freshness
Score by group
- Quality53
- Growth0
- Balance sheet18
- Returns71
- Valuation64
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 14.19 – 41.79 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- Residual income28.04 – 29.31 (Mid 28.66)
- Justified P/B31.08 – 41.79 (Mid 35.65)
- Dividend discount (DDM)14.19 – 19.09 (Mid 16.28)
- Peers: P/E32.58 – 37.67 (Mid 35.00)32 companies used · median multiple 11.8x · quartiles 11.0x – 12.7xASRV, BAC, C, CAC, CBU, CFBK, CFR, CHCO, COF, DCBG, FHN, FULT, FUNC, HBAN, JPM, KEY, LCNB, MRBK, NBTB, NKSH, ONB, PNC, PRK, RF, SFST, SHBI, TBBK, USB, WAFD, WFC, WSFS, ZION
- Peers: P/B26.80 – 37.99 (Mid 33.04)33 companies used · median multiple 1.2x · quartiles 1.0x – 1.4xASRV, BAC, BANC, C, CAC, CARE, CBU, CFBK, COF, DCBG, FHN, FULT, FUNC, HBAN, KEY, LCNB, MRBK, NBHC, NBTB, NKSH, ONB, PNC, PRK, RF, SFST, SHBI, SNUS-PH, UBS, USB, WAFD, WFC, WSFS, ZION
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Neutral profile · Score 47/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROE · Quality | 11.3% | 54 (vs peers) | 19% |
| ROA · Quality | 1.1% | 52 (on a fixed band) | 7% |
| Cost-to-income · Quality | 53.8% | 45 (on a fixed band) | 12% |
| Net interest margin · Quality | 3.2% | 67 (on a fixed band) | 7% |
| EPS CAGR 3Y · Growth | -8.9% | 0 (on a fixed band) | 10% |
| Revenue CAGR 3Y · Growth | -0.2% | 0 (on a fixed band) | 7% |
| NPL ratio · Balance sheet | unavailable | unavailable | — |
| Cost of risk · Balance sheet | unavailable | unavailable | — |
| Loan-to-deposit · Balance sheet | 92.9% | 18 (on a fixed band) | 5% |
| P/B · Valuation | 1.2x | 59 (vs peers) | 12% |
| P/E (TTM) · Valuation | 11.0x | 69 (vs peers) | 12% |
| Dividend yield · Returns | 3.4% | 71 (vs peers) | 10% |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial18/100 · 1/3 factors with a value
- Growth0/100 · 2/2 factors with a value
- Quality53/100 · 4/4 factors with a value
- Returns71/100 · 1/1 factors with a value
- Valuation64/100 · 2/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
HANMI FINANCIAL CORPORATION (HAFC). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: net interest income 236.2 m USD in 2025; YoY growth 15.3%; net margin 31.2%; ROE 11.3%.
The estimated value range is 28.04–37.67 USD per share (median of 5 methods, agreement: high); assumptions are illustrative. Against the central value of 33.04 USD, the price of 32.68 USD leaves a potential of 1.1% (value / price − 1) and a margin of safety of 1.1% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 47/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: balance. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Dividend yield: 3.4%
What contradicts it
- EPS CAGR 3Y: -8.9%
- Revenue CAGR 3Y: -0.2%
- Loan-to-deposit: 92.9%
Not assessed (insufficient data or a ratio without meaning): NPL ratio, Cost of risk.
Versus the vertical median
National Commercial Banks (SIC 6021) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| JPMJpmorgan Chase & Co | 895.8 bn | 14.1 | 18.0% | 36.2% | +2.8% | +8% / +116% |
| BACBofA Finance LLC | 343.4 bn | 11.7 | 10.8% | 26.8% | +6.8% | −7% / +63% |
| WFCWells Fargo & Company | 254.6 bn | 11.8 | 12.9% | — | −1.6% | −1% / +90% |
| CCitigroup Inc | 207.2 bn | 16.9 | 6.8% | 16.8% | +5.6% | +14% / +157% |
| UBSUBS Group AG | 159.7 bn | 20.2 | 8.9% | — | +7.0% | +24% / +69% |
| COFCapital One Financial Corp | 122.6 bn | 11.9 | 9.7% | 17.2% | +36.6% | −7% / +83% |
| USBUs Bancorp \de\ | 93.1 bn | 11.5 | 12.9% | 27.6% | +4.4% | +22% / +57% |
| PNCPNC Financial Services Group, Inc. | 90.0 bn | 11.8 | 13.1% | 31.1% | +7.2% | +19% / +69% |
| HBANHuntington Bancshares Incorporated | 31.5 bn | 12.6 | 9.1% | 133.3% | +6.4% | −4% / +39% |
| RFRegions Financial Corporation | 24.2 bn | 11.5 | 11.9% | — | +23.8% | +12% / +70% |
| KEYKeyCorp | 22.1 bn | 11.3 | 11.2% | 26.6% | +62.7% | +14% / +69% |
| FHNFirst Horizon Corp | 10.8 bn | 16.5 | 8.0% | 23.4% | +7.2% | +3% / +80% |
| SNUS-PHSantander Holdings USA, Inc. | 10.8 bn | 6.1 | 10.8% | — | unavailable | unavailable / unavailable |
| CFRCullen/Frost Bankers, Inc. | 9.7 bn | 14.4 | 16.3% | 29.5% | +8.3% | +25% / +58% |
| ONBOld National Bancorp | 9.4 bn | 10.2 | 11.5% | — | +6.1% | +15% / +67% |
| ZIONZions Bancorporation, National Association | 9.4 bn | 7.9 | 16.7% | 167.6% | +3.6% | +22% / +82% |
| FULTFulton Financial Corp | 4.5 bn | 11.3 | 11.1% | 137.0% | −6.5% | +31% / +67% |
| WSFSWsfs Financial Corporation | 4.0 bn | 12.4 | 12.4% | — | +50.2% | +41% / +105% |
| CBUCommunity Financial System, Inc. | 3.4 bn | 15.0 | 11.5% | 26.6% | +9.6% | +14% / +46% |
| PRKPark National Corporation | 3.2 bn | 15.5 | 11.7% | 25.7% | +2.9% | +15% / +59% |
| BANCBanc Of California, Inc. | 2.8 bn | — | -0.7% | -1.4% | −3.8% | −2% / +56% |
| NBTBNbt Bancorp Inc | 2.7 bn | 13.0 | 11.4% | 117.1% | +10.4% | +27% / +49% |
| WAFDWaFd, Inc. | 2.2 bn | 9.1 | 8.5% | 810.8% | +7.8% | −7% / +10% |
| CHCOCity Holding Company | 2.0 bn | 15.4 | 16.6% | 176.6% | +3.2% | +17% / +47% |
| TBBKThe Bancorp, Inc. | 1.9 bn | 8.5 | 33.0% | 169.9% | +20.8% | −25% / +24% |
1- and 3-year price returns: for HAFC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 18.67 Total return -40% · Per year -40% | 33.08 Total return 5% · Per year 5% | 49.94 Total return 57% · Per year 57% |
| 3 years | 16.45 Total return -42% · Per year -17% | 32.95 Total return 11% · Per year 4% | 54.84 Total return 81% · Per year 22% |
| 5 years | 14.49 Total return -44% · Per year -11% | 32.81 Total return 17% · Per year 3% | 60.23 Total return 107% · Per year 16% |
- Exit P/E± 8.24
- Net margin± 5.77
- Annual revenue growth± 4.96
- Annual dilution± 0.48
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 07 Aug 2026; since then the company filed 8-K (27 Oct 2026 · results).
In brief
Hanmi Financial is the holding company for Hanmi Bank, a community bank serving primarily the Korean-American community and other multi-ethnic communities in California and other U.S. states, with a strong focus on commercial and real estate lending. In the second quarter of 2026 the bank reported net income of $23.5 million, and deposits reached $7.0 billion 3.
SWOT
Strengths
- The bank has a loyal client base in the Korean-American community and a deposit structure with a high share of noninterest-bearing deposits 13.
- Asset quality has remained good in the recent period, with low nonperforming assets, which supports the capacity to sustain lending growth 3.
- Capital is solid, and the bank has returned a significant part of its earnings to shareholders through dividends and share repurchases 3.
Weaknesses
- The portfolio is concentrated in commercial real estate and certain industries, which raises concentration risk if those sectors weaken 1.
- Dependence on net interest income leaves the bank exposed to changes in interest rates and pressure on margins 1.
- The main market is geographically concentrated, especially in California, which exposes the bank to regional economic developments 1.
Opportunities
- Growth in commercial and industrial lending and loan diversification could support revenue growth 3.
- If deposit costs keep declining, the margin could benefit from a cheaper funding structure 3.
- Strong ties with multi-ethnic communities could allow expansion into new markets or adjacent customer segments 1.
Threats
- A economic recession could lead to higher provisions and weaker loan quality, especially in exposed sectors 1.
- New York rent rules and falling property values could affect collateral and income from the multifamily portfolio 1.
- Intense competition for deposits and loans could press margins and raise the cost of attracting funding 13.
Risks
- Commercial real estate concentrationhigh
Most loans are secured by real estate, and a fall in values or demand could increase credit losses 1.
- Interest rate riskmedium
Changes in market rates can affect the net interest margin and the value of securities, especially if deposit costs move faster than loan yields 13.
- Exposure to the California economyhigh
Operations are concentrated in California, so a regional economic downturn could weigh on repayment and collateral values 1.
- New York rent regulationmedium
Restrictions on rent increases in New York may limit income from secured properties and reduce their value 1.
- Operational and cyber riskslow
The bank relies on IT systems and third-party vendors, and security incidents or operational failures could disrupt activity 2.
Investment thesis
What would need to be true (bull case)
- The bank reported rising earnings and a return on average equity above 11% in the second quarter of 2026, showing consistent execution 3.
- A deposit base with a high share of noninterest-bearing deposits could support the net interest margin even if rates decline 3.
- Asset quality remains very good, and solid capital allows the bank to return a significant part of earnings to shareholders 3.
What would break the thesis
- The loan book is heavily concentrated in commercial real estate, and a recession could bring larger losses than currently expected 1.
- The net interest margin dipped slightly in the second quarter, and normalization of certain income items could limit net income growth 3.
- Geographic concentration in California and local regulation could weigh on the portfolio if the property market deteriorates 1.
What to watch
- Trend in net interest margin and deposit costsQ3 2026
- Level of credit loss provisions and nonperforming loansQ3 2026
- Evolution of the commercial real estate and commercial lending portfolionext 10-K
- Impact of New York rent rules on the multifamily portfolio2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 07 Aug 2026; since then the company filed 8-K (27 Oct 2026 · results).
The business
Hanmi Financial Corporation is a Delaware company incorporated in 2000 that holds Hanmi Bank, a California state-chartered bank headquartered in Los Angeles 1. The bank operates as a community bank with general business banking, a branch network across several U.S. states, and a primary market in the Korean-American and other multi-ethnic communities 1. Revenues come mainly from interest and fees on loans, interest on securities, deposit service charges, and gains on sales of SBA and mortgage loans 1.
Net interest income is the bank's main revenue source, and results depend on the level and mix of earning assets and liabilities as well as market interest rates 1. In fiscal 2025 interest and fees on loans made up about 84.5% of revenues, which shows a heavy dependence on lending activity 1. For the quarter ended June 30, 2026, the net interest margin was 3.36% 3.
Segments
Commercial real estate lending
Commercial real estate is the largest loan segment, and investor-owned (non-owner-occupied) properties carry the largest share within it 1. These loans are generally secured by properties and, at origination, typically have a debt coverage ratio of 1.25 or more and a loan-to-value ratio of 70% or less 1.
Market context
Competition for loans and deposits is intense in the bank's service areas, where a few large nationwide banks dominate, while its direct rivals are other community banks targeting the same multi-ethnic communities 1. The primary market is concentrated in California, with additional presence in Texas, New York, Illinois, Georgia and other states 1. Exposure to the Southern California real estate market is an important factor for portfolio risk 1.
The macroeconomic backdrop remains a factor: inflation has stayed above the Federal Reserve's long-term target, and tariff and trade policy changes can affect borrowers 1. If the economy were to enter a mild recession, the bank's own scenario analysis indicates that credit loss provisions could increase 1.
Trends
- Interest rate path and net interest marginmixed
The rate environment has affected deposit costs, which declined in recent quarters, while loan yields stayed stable 3. If funding costs keep falling faster than asset yields, the margin could support net income, whereas a drop in rates could reduce interest income.
- Growth in commercial lendingtailwind
Commercial and real estate loans have grown in recent quarters, and the bank plans to keep focusing on these lines 13. This growth can support revenue but also raises concentration risk.
- Real estate risk and New York rent rulesheadwind
Commercial real estate loans, especially in the hotel and office sectors, are sensitive to falling property values and weaker demand 1. New York rent regulation limits rent increases and may affect the value of collateral, which could weigh on portfolio quality 1.
- Strong asset qualitymixed
Asset quality indicators improved, and nonperforming assets stayed at very low levels in the second quarter of 2026 3. If this trend holds, provisions could stay low, although a weaker economic scenario could change that view.
Competitive position
The main competitors are other community banks that target the same Korean-American and multi-ethnic communities in the areas where Hanmi operates 1. In broader markets, competition also comes from a few large nationwide banks with many branches across wide geographic areas 1.
Competition for deposits is especially important because deposit costs directly affect the bank's margin 3. The bank aims to protect its position through client relationships and a noninterest-bearing deposit base, but local competition may limit margin expansion 13.
- Other community banks serving Korean-American and multi-ethnic businesses
Direct competitors in the bank's service areas that target the same small and mid-sized customer segments.
- Large nationwide banks
Banks with many branches and wide geographic reach that dominate the general banking market, according to the company's filings.
- Regional banks in California
Banks competing for commercial real estate loans and deposits in the same regional markets.
- Other SBA lenders
Institutions offering SBA loans and competing for the origination and sale of these loans.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report29 Oct 2026Other events · Financial statements and exhibits
- Current report27 Oct 2026Results of operations · Financial statements and exhibits
- Current report17 Aug 2026Regulation FD disclosure · Financial statements and exhibits
- Current report11 Aug 2026Regulation FD disclosure · Financial statements and exhibits
- Quarterly report07 Aug 2026
- Current report31 Jul 2026Material agreement · Creation of a direct financial obligation · Regulation FD disclosure · Other events · Financial statements and exhibits
- Current report27 Jul 2026Regulation FD disclosure · Financial statements and exhibits
- Current report23 Jul 2026Other events · Financial statements and exhibits
- Current report21 Jul 2026Results of operations · Financial statements and exhibits
- Current report28 May 2026Departure or appointment of officers · Shareholder vote · Financial statements and exhibits
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Hanmi Financial Corporation · 27 Feb 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Hanmi Financial Corporation · 07 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Hanmi Financial Corporation · 21 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.