Hanmi Financial Corporation (HAFC) 10-Year Financial Performance & Capital Metrics

HAFC • • Banking & Credit

Financial ServicesRegional BanksDigital & Specialized BankingSBA & Specialty Lending

AboutHanmi Financial Corporation operates as the holding company for Hanmi Bank that provides business banking products and services in the United States. The company offers various deposit products, including noninterest-bearing checking accounts, interest-bearing checking and savings accounts, negotiable order of withdrawal accounts, money market accounts, and certificates of deposit. It also provides real estate loans, such as commercial property, construction, and residential property loans; and commercial and industrial loans, such as commercial term loans and commercial lines of credit, as well as international finance, and trade services and products comprising letters of credit, and import and export financing. In addition, the company offers consumer loans, secured and unsecured loans, home equity loans, residential mortgages, and credit cards; SBA and trade finance lending to small and middle market businesses; and small business administration loans for business purposes, which comprise owner-occupied commercial real estate, business acquisitions, start-ups, franchise financing, working capital, improvements and renovations, inventory and equipment, and debt-refinancing, as well as equipment lease financing. As of February 28, 2022, it operated a network of 35 full-service branches and 8 loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington, and Georgia. The company was founded in 1982 and is headquartered in Los Angeles, California.Show more

Net Interest Income $201M -8.5%
Total Revenue $430M +8.0%
Net Income $62M -22.3%
Return on Equity 8.67% -27.4%
Net Interest Margin 2.62% -9.8%
Efficiency Ratio 32.71% -0.4%
ROA 0.82% -23.8%
Equity / Assets 9.54% +2.9%
Book Value per Share 24.32 +5.1%
Tangible BV/Share 23.96 +5.2%
Debt/Equity 0.54 -17.2%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 32.7% efficiency ratio
✓Healthy dividend yield of 3.6%
✓Trading at only 1.1x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y10.08%

5Y9.48%

3Y18.7%

TTM-

Profit (Net Income) CAGR

10Y2.26%

5Y13.66%

3Y-14.26%

TTM14.9%

EPS CAGR

10Y2.77%

5Y14.1%

3Y-13.97%

TTM15.38%

ROCE

10Y Avg12.29%

5Y Avg12.01%

3Y Avg12.5%

Latest8.94%

Peer Comparison

SBA & Specialty Lending

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TFINTriumph Financial, Inc.	1.6B	67.15	124.35	3.34%	3.3%	1%		0.16
LOBLive Oak Bancshares, Inc.	1.66B	36.12	21.37	19.67%	8.34%	5.78%	29.41%	0.11
ESQEsquire Financial Holdings, Inc.	901.77M	105.28	20.48	13.67%	31.57%	17.59%	4.33%
FINWFinWise Bancorp	238.99M	17.59	18.91	12.56%	13.07%	7.97%		0.03
FSFGFirst Savings Financial Group, Inc.	224.48M	32.00	16.16	4.58%	10.11%	11.73%	40.32%	1.98
RBBRBB Bancorp	361.56M	21.21	14.43	-1.75%	11.49%	5.09%	15.96%	0.72
HOPEHope Bancorp, Inc.	1.45B	11.28	13.76	-8.63%	9.96%	2.29%	7.39%	0.18
HAFCHanmi Financial Corporation	830.06M	27.71	13.52	8.03%	14.48%	9.31%	6.18%	0.54

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	145.33M	157.73M	175.57M	179.6M	174.72M	180M	194.11M	236.62M	220.04M	201.34M
NII Growth %	0.2%	0.09%	0.11%	0.02%	-0.03%	0.03%	0.08%	0.22%	-0.07%	-0.09%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	161.44M	176M	208.09M	232.98M	245.63M	222.96M	215.73M	272.79M	368.1M	397.35M
Interest Expense	16.11M	18.27M	32.52M	53.38M	70.9M	42.97M	21.63M	36.17M	148.06M	196.01M
Loan Loss Provision	-11.61M	-4.34M	831K	3.99M	30.17M	45.45M	-24.4M	836K	4.34M	4.42M
Non-Interest Income+	50.39M	35.54M	34.65M	25.93M	27.46M	42.6M	41.07M	35.22M	29.46M	32.16M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	211.83M	211.55M	242.74M	258.92M	273.09M	265.56M	256.8M	308.01M	397.56M	429.51M
Revenue Growth %	0.29%	-0%	0.15%	0.07%	0.05%	-0.03%	-0.03%	0.2%	0.29%	0.08%
Non-Interest Expense	115.33M	108.22M	114.1M	117.57M	124.67M	117.64M	124.08M	130.28M	130.58M	140.47M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	92M	89.39M	95.28M	83.97M	47.35M	59.49M	135.49M	140.73M	114.58M	88.61M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.27%	-0.03%	0.07%	-0.12%	-0.44%	0.26%	1.28%	0.04%	-0.19%	-0.23%
Pretax Income+	92M	89.39M	95.28M	83.97M	47.35M	59.49M	135.49M	140.73M	114.58M	88.61M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	38.18M	32.9M	40.62M	26.1M	14.56M	17.3M	36.82M	39.33M	34.54M	26.4M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	53.82M	56.49M	54.66M	57.87M	32.79M	42.2M	98.68M	101.39M	80.04M	62.2M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.08%	0.05%	-0.03%	0.06%	-0.43%	0.29%	1.34%	0.03%	-0.21%	-0.22%
Net Income (Continuing)	53.82M	56.49M	54.66M	57.87M	32.79M	42.2M	98.68M	101.39M	80.04M	62.2M
EPS (Diluted)+	1.68	1.75	1.69	1.79	1.06	1.38	3.22	3.32	2.62	2.05
EPS Growth %	0.08%	0.04%	-0.03%	0.06%	-0.41%	0.3%	1.33%	0.03%	-0.21%	-0.22%
EPS (Basic)	1.69	1.76	1.70	1.81	1.06	1.38	3.22	3.33	2.63	2.07
Diluted Shares Outstanding	31.88M	32.05M	32.25M	32.05M	30.76M	30.28M	30.47M	30.39M	30.33M	30.1M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	164.36M	147.24M	153.83M	155.38M	121.68M	391.85M	608.97M	352.42M	302.32M	304.8M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	3.84B	4.34B	4.86B	5.15B	4.71B	5.15B	5.53B	6.17B	6.99B	7.1B
Investments Growth %	0.01%	0.13%	0.12%	0.06%	-0.09%	0.09%	0.07%	0.12%	0.13%	0.02%
Long-Term Investments	3.14B	3.82B	4.28B	4.58B	4.08B	4.39B	4.62B	5.32B	6.12B	6.19B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	11.03M	11.03M	11.03M	11.03M	11.03M	11.03M	11.03M	11.03M	11.03M
Intangible Assets	1.7M	1.86M	1.51M	1.15M	842K	581K	364K	194K	68K	0
PP&E (Net)	29.83M	28.7M	26.66M	27.75M	26.07M	26.43M	24.79M	22.85M	21.96M	21.4M
Other Assets	102.66M	84.85M	77.96M	76.74M	39.4M	77.81M	78.37M	79.43M	185.64M	177.25M
Total Current Assets	904.97M	706.92M	781.06M	780.15M	1.34B	1.69B	2.13B	1.94B	1.23B	1.28B
Total Non-Current Assets	3.33B	3.99B	4.43B	4.72B	4.19B	4.51B	4.73B	5.43B	6.34B	6.4B
Total Assets+	4.23B	4.7B	5.21B	5.5B	5.54B	6.2B	6.86B	7.38B	7.57B	7.68B
Asset Growth %	0%	0.11%	0.11%	0.06%	0.01%	0.12%	0.11%	0.08%	0.03%	0.01%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.02%	0.01%	0.01%	0.01%
Accounts Payable	3.18M	2.57M	5.31M	11.38M	11.21M	4.56M	1.16M	7.79M	39.31M	34.82M
Total Debt+	188.7M	333.98M	267.27M	172.81M	208.38M	268.97M	352.51M	479.41M	455.01M	393.14M
Net Debt	24.34M	186.74M	113.44M	17.43M	86.7M	-122.88M	-256.46M	126.99M	152.69M	88.34M
Long-Term Debt	188.7M	18.98M	117.27M	117.81M	193.38M	268.97M	302.51M	179.41M	205.01M	168.14M
Short-Term Debt	0	315M	150M	55M	15M	0	50M	300M	250M	225M
Other Liabilities	8.37M	978K	803K	173K	66K	1.32M	0	328K	93.56M	82.01M
Total Current Liabilities	3.54B	4.15B	4.53B	4.83B	4.78B	5.35B	5.91B	6.56B	6.57B	6.7B
Total Non-Current Liabilities	197.07M	19.96M	118.07M	117.98M	193.44M	270.29M	302.51M	179.74M	298.57M	250.15M
Total Liabilities	3.74B	4.17B	4.65B	4.95B	4.97B	5.62B	6.22B	6.74B	6.87B	6.95B
Total Equity+	493.92M	531.02M	562.48M	552.57M	563.27M	577.04M	643.42M	637.51M	701.89M	732.17M
Equity Growth %	0.09%	0.08%	0.06%	-0.02%	0.02%	0.02%	0.12%	-0.01%	0.1%	0.04%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.11%	0.11%	0.1%	0.1%	0.06%	0.07%	0.16%	0.16%	0.12%	0.09%
Book Value per Share	15.49	16.57	17.44	17.24	18.31	19.06	21.12	20.98	23.14	24.32
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	257K	33K	33K	33K	33K	33K	33K	33K	34K	34K
Additional Paid-in Capital	557.76M	562.45M	565.63M	569.71M	575.82M	578.36M	580.8M	583.41M	586.91M	591.07M
Retained Earnings	6.42M	41.73M	70.58M	97.54M	100.55M	114.62M	196.78M	269.54M	319.05M	350.87M
Accumulated OCI	-315K	-2.39M	-1.87M	-6.08M	3.38M	3.08M	-8.44M	-88.98M	-71.93M	-70.72M
Treasury Stock	-70.21M	-70.79M	-71.89M	-108.64M	-116.52M	-119.05M	-125.75M	-126.48M	-132.18M	-139.07M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	66.53M	59.35M	81.66M	76.64M	58.8M	60.2M	93.73M	147.31M	107.8M	53.95M
Operating CF Growth %	1.61%	-0.11%	0.38%	-0.06%	-0.23%	0.02%	0.56%	0.57%	-0.27%	-0.5%
Net Income	53.82M	56.49M	54.66M	57.87M	32.79M	42.2M	98.68M	101.39M	80.04M	62.2M
Depreciation & Amortization	17.85M	14.58M	12.85M	11.11M	9.53M	10.95M	16.09M	12.38M	6.79M	6.46M
Deferred Taxes	0	0	0	0	0	0	0	0	0	0
Other Non-Cash Items	-25.88M	-9.57M	-982K	2.36M	21.73M	16.61M	-32.83M	9.18M	-2.12M	3.65M
Working Capital Changes	18.5M	-5.15M	12.23M	1.78M	-8.37M	-12.1M	9.35M	21.76M	20.41M	-21.94M
Cash from Investing+	-20.27M	-496.46M	-520.18M	-311.57M	-44.55M	-407.59M	-447.04M	-881.51M	-209.99M	-107.47M
Purchase of Investments	-233.86M	-20.32M	-242.37M	-141.35M	-320.81M	-837.26M	-513.24M	-166.56M	-106.97M	-196.36M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	-374.88M	-667.7M	-454.12M	-300.52M	4.6M	-295.07M	-262.58M	-819M	-214.6M	-64.65M
Cash from Financing+	-40.22M	419.97M	445.12M	236.48M	-47.95M	617.55M	570.43M	477.65M	52.1M	56M
Dividends Paid	-12.78M	-25.66M	-25.81M	-30.92M	-29.78M	-15.96M	-16.51M	-28.64M	-30.54M	-30.38M
Share Repurchases	-349K	0	0	-36.07M	-7.36M	-2.2M	-6.13M	0	-4.08M	-6.31M
Stock Issued	0	0	0	0	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	1000K	-1000K	-1000K	1000K	1000K	1000K	1000K	-1000K	-1000K
Other Financing	-47.09M	300.63M	538.1M	398.47M	-45.81M	575.71M	510.69M	381.09M	111.72M	155.2M
Net Change in Cash+	6.04M	-17.13M	6.59M	1.55M	-33.7M	270.17M	217.12M	-256.54M	-50.1M	2.48M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	158.32M	164.36M	147.24M	153.83M	155.38M	121.68M	391.85M	608.97M	352.42M	302.32M
Cash at End	164.36M	147.24M	153.83M	155.38M	121.68M	391.85M	608.97M	352.42M	302.32M	304.8M
Interest Paid	16.38M	18.88M	32.52M	47.31M	71.06M	49.62M	25.03M	29.54M	116.54M	200.49M
Income Taxes Paid	7.93M	23.33M	28.14M	20.79M	15.57M	18.02M	31.4M	12.73M	16.54M	41.67M
Free Cash Flow+	65.38M	58.62M	80.81M	72.94M	57.22M	55.81M	91M	145.38M	105.38M	51.33M
FCF Growth %	1.69%	-0.1%	0.38%	-0.1%	-0.22%	-0.02%	0.63%	0.6%	-0.28%	-0.51%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	11.36%	11.02%	10%	10.38%	5.88%	7.4%	16.17%	15.83%	11.95%	8.67%
Return on Assets (ROA)	1.27%	1.26%	1.1%	1.08%	0.59%	0.72%	1.51%	1.42%	1.07%	0.82%
Net Interest Margin	3.43%	3.35%	3.37%	3.26%	3.15%	2.9%	2.83%	3.21%	2.91%	2.62%
Efficiency Ratio	54.44%	51.16%	47.01%	45.41%	45.65%	44.3%	48.32%	42.3%	32.85%	32.71%
Equity / Assets	11.66%	11.3%	10.8%	10.04%	10.17%	9.3%	9.38%	8.64%	9.27%	9.54%
Book Value / Share	15.49	16.57	17.44	17.24	18.31	19.06	21.12	20.98	23.14	24.32
NII Growth	20.17%	8.53%	11.31%	2.3%	-2.71%	3.02%	7.84%	21.9%	-7.01%	-8.5%
Dividend Payout	23.75%	45.43%	47.22%	53.43%	90.81%	37.82%	16.74%	28.24%	38.15%	48.84%

Revenue by Segment

	2024
Banking	234.36M
Banking Growth	-

Frequently Asked Questions

Valuation & Price

Hanmi Financial Corporation (HAFC) has a price-to-earnings (P/E) ratio of 13.5x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Hanmi Financial Corporation (HAFC) grew revenue by 8.0% over the past year. This is steady growth.

Yes, Hanmi Financial Corporation (HAFC) is profitable, generating $72.5M in net income for fiscal year 2024 (14.5% net margin).

Dividend & Returns

Yes, Hanmi Financial Corporation (HAFC) pays a dividend with a yield of 3.64%. This makes it attractive for income-focused investors.

Hanmi Financial Corporation (HAFC) has a return on equity (ROE) of 8.7%. This is below average, suggesting room for improvement.

Industry Metrics

Hanmi Financial Corporation (HAFC) has a net interest margin (NIM) of 2.6%. NIM has been under pressure due to interest rate environment.

Hanmi Financial Corporation (HAFC) has an efficiency ratio of 32.7%. This is excellent, indicating strong cost control.

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