Capital allocation remains disciplined with quarterly dividends of approximately $8 million, though operating cash flow is heavily distorted by non-operating movements, evidenced by an OCF/NI ratio that reached 6.66 in 2025Q3.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 |
|---|
| Cash from Operations | 204.04M | 206.01M | 53.95M | 107.8M | 147.31M | 93.73M | 60.2M | 58.8M | 76.64M | 81.66M | 59.35M | 66.53M | 25.47M | 60.72M | 52.83M | 49.24M | 226.44M | 92.26M | 43.76M | 94.82M | 48.91M | 68.94M | 37.73M | 13.59M | 20.95M | 11.2M | 23.7M | -1.64M |
| Operating CF Growth % | 1721.92% | 281.89% | -49.96% | -26.82% | 57.16% | 55.69% | 2.39% | -23.28% | -6.15% | 37.58% | -10.79% | 161.24% | -58.06% | 14.94% | 7.27% | -78.25% | 145.45% | 110.85% | -53.86% | 93.87% | -29.06% | 82.72% | 177.69% | -35.14% | 87.06% | -52.74% | 1540.9% | - |
| Net Income | 80.97M | 76.09M | 62.2M | 80.04M | 101.39M | 98.68M | 42.2M | 32.79M | 57.87M | 54.66M | 56.49M | 53.82M | 49.76M | 39.86M | 90.32M | 28.15M | -88.01M | -122.28M | -102.09M | -60.76M | 65.35M | 58.23M | 36.7M | 19.21M | 17.03M | 16.81M | 15.52M | 12.01M |
| Depreciation & Amortization | 990K | 5.66M | 6.46M | 6.79M | 12.38M | 16.09M | 10.95M | 9.53M | 11.11M | 12.85M | 14.58M | 17.85M | 8.7M | 6.67M | 7.48M | 2.86M | 3.44M | 4.18M | 4.86M | 7.54M | 6.87M | 6.05M | 7.57M | 1.89M | 1.43M | 1.28M | 610.61K | 1.59M |
| Deferred Taxes | -15K | -10.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -52.34M | 0 | 3.56M | 26.02M | -11.25M | -14.62M | -2.94M | -2.71M | 6.57M | -2.07M | -469K | -41K | -1.23M | -912.46K |
| Other Non-Cash Items | 137.55M | 141.03M | 3.65M | -2.12M | 9.18M | -32.83M | 16.61M | 21.73M | 2.36M | -982K | -9.57M | -25.88M | -28.48M | 14M | 66.88M | 21.61M | 258.85M | 230.55M | 154.66M | 137.62M | 558K | 8.77M | -483K | -8.49M | 6.09M | -3.04M | 7.03M | -14.03M |
| Working Capital Changes | -18.89M | -9.61M | -21.94M | 20.41M | 21.76M | 9.35M | -12.1M | -8.37M | 1.78M | 12.23M | -5.15M | 18.5M | -6.68M | -512K | -59.99M | -3.98M | 47.59M | -47.12M | -3.45M | 25.04M | -20.93M | -1.4M | -12.62M | 3.04M | -3.13M | -3.81M | 1.77M | -296.42K |
| Cash from Investing | -295.22M | -384.32M | -107.47M | -209.99M | -881.51M | -447.04M | -407.59M | -44.55M | -311.57M | -520.18M | -496.46M | -20.27M | 16.4M | -304.37M | -37.16M | 99.34M | 35.98M | 427.08M | 49.52M | -423.27M | -307.54M | -279.64M | -49.74M | -379.74M | -257.4M | -214.81M | -181.82M | -85.49M |
| Purchase of Investments | -176.34M | -173.09M | -196.36M | -106.97M | -166.56M | -513.24M | -837.26M | -320.81M | -141.35M | -242.37M | -20.32M | -233.86M | -127.85M | -251.83M | -271.61M | -428.73M | -449.09M | -89.36M | -24.58M | -47.83M | -14.36M | -134.96M | -27.24M | -358.22M | -284.25M | -194.35M | -93.82M | -37.62M |
| Sale/Maturity of Investments | 356M | 233.31M | 156.16M | 114M | 105.98M | 331.51M | 729.14M | 273.25M | 134M | 177.15M | 192.29M | 589.61M | 271.25M | 144.05M | 264.41M | 409.31M | 166.49M | 155.83M | 175.82M | 89.96M | 61.73M | 101.25M | 173.69M | 245.94M | 217.6M | 191.19M | 63.36M | 78.26M |
| Net Investment Activity | 179.66M | 60.22M | -40.2M | 7.03M | -60.59M | -181.74M | -108.13M | -47.57M | -7.35M | -65.22M | 171.98M | 355.75M | 143.4M | -107.78M | -7.2M | -19.42M | -282.6M | 66.47M | 151.24M | 42.13M | 47.38M | -33.72M | 146.45M | -112.28M | -66.65M | -3.16M | -30.46M | 40.64M |
| Acquisitions | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 118.93M | 0 | 0 | 0 | 0 | 0 | 0 | -1.73M | 0 | 0 | -63.5M | 0 | 0 | 0 | 0 | 0 |
| Other Investing | -472.16M | -442.23M | -64.65M | -214.6M | -819M | -262.58M | -295.07M | 4.6M | -300.52M | -454.12M | -667.7M | -374.88M | -244.78M | -195.57M | -29.28M | 119.92M | 319.81M | 361.6M | -99.34M | -459.99M | -352.68M | -242.09M | -130.65M | -265.44M | -188.92M | -209.71M | -149.44M | -125.42M |
| Cash from Financing | 16.22M | 86.35M | 56M | 52.1M | 477.65M | 570.43M | 617.55M | -47.95M | 236.48M | 445.12M | 419.97M | -40.22M | -62.9M | 154.96M | 50.7M | -196.62M | -166.82M | -581.17M | 277K | 312.35M | 233.65M | 247.01M | 76.58M | 305.98M | 278.01M | 108.71M | 270.76M | 79.89M |
| Dividends Paid | -32.84M | -32.62M | -30.38M | -30.54M | -28.64M | -16.51M | -15.96M | -29.78M | -30.92M | -25.81M | -25.66M | -12.78M | -6.69M | -4.44M | 0 | 0 | 0 | 0 | -3.85M | -11.57M | -11.8M | -9.81M | -7.74M | -4.22M | -7K | -7K | -3.35K | -2K |
| Share Repurchases | -13.59M | -9.4M | -6.31M | -4.08M | 0 | -6.13M | -2.2M | -7.36M | -36.07M | 0 | 0 | -349K | 0 | 0 | 0 | 0 | 0 | 0 | -70K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Stock Issued | 0 | 0 | 0 | 0 | 19K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 77.11M | 116.27M | 6.84M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Stock Activity | -13.59M | -9.4M | -6.31M | -4.08M | 19K | -6.13M | -2.2M | -7.36M | -36.07M | 0 | 0 | -349K | 0 | 0 | 0 | 77.11M | 116.27M | 6.84M | -70K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt Issuance (Net) | 0 | -1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 1000K | 1000K | -368K | -1000K | -505K | -1000K | -1000K | 1000K | 1000K | -1000K | -1000K | 1000K | 1000K | 0 | -1000K | 1000K |
| Other Financing | 180.15M | 240.88M | 155.2M | 111.72M | 381.07M | 510.69M | 575.71M | -45.81M | 398.47M | 538.1M | 300.63M | -47.09M | -68.66M | 117.19M | 51.06M | -121.81M | -282.58M | -320.75M | 68.38M | 57.18M | 119.2M | 297.31M | 146.27M | 161.86M | 241.63M | 108.34M | 276.65M | 73.73M |
| Net Change in Cash | -74.96M | -91.96M | 2.48M | -50.1M | -256.54M | 217.12M | 270.17M | -33.7M | 1.55M | 6.59M | -17.13M | 6.04M | -21.04M | -88.69M | 66.36M | -48.04M | 95.61M | -61.84M | 93.55M | -16.1M | -24.98M | 36.31M | 64.57M | -60.18M | 41.57M | -94.9M | 112.63M | -7.25M |
| Exchange Rate Effect | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash at Beginning | 212.84M | 304.8M | 302.32M | 352.42M | 608.97M | 391.85M | 121.68M | 155.38M | 153.83M | 147.24M | 164.36M | 158.32M | 179.36M | 268.05M | 201.68M | 249.72M | 154.11M | 215.95M | 122.4M | 138.5M | 163.48M | 127.16M | 62.59M | 122.77M | 81.21M | 176.11M | 63.48M | 70.73M |
| Cash at End | 254.04M | 212.84M | 304.8M | 302.32M | 352.42M | 608.97M | 391.85M | 121.68M | 155.38M | 153.83M | 147.24M | 164.36M | 158.32M | 179.36M | 268.05M | 201.68M | 249.72M | 154.11M | 215.95M | 122.4M | 138.5M | 163.48M | 127.16M | 62.59M | 122.77M | 81.21M | 176.11M | 63.48M |
| Interest Paid | 168.58M | 174.78M | 200.49M | 116.54M | 29.54M | 25.03M | 49.62M | 71.06M | 47.31M | 32.52M | 18.88M | 16.38M | 14.43M | 21.92M | 23M | 27.7M | 35.28M | 88.85M | 107.07M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Income Taxes Paid | 35.61M | 35.83M | 41.67M | 16.54M | 12.73M | 31.4M | 18.02M | 15.57M | 20.79M | 28.14M | 23.33M | 7.93M | 37.02M | 15.11M | 4.91M | 3K | 49.97M | 0 | 13.87M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Free Cash Flow | 201.32M | 203.7M | 51.33M | 105.38M | 145.38M | 91M | 55.81M | 57.22M | 72.94M | 80.81M | 58.62M | 65.38M | 24.32M | 59.7M | 52.15M | 48.08M | 225.22M | 91.27M | 41.38M | 91.14M | 46.67M | 65.11M | 35.68M | 11.56M | 19.12M | 9.27M | 23.7M | -2.36M |
| FCF Growth % | 321.9% | 296.88% | -51.3% | -27.52% | 59.75% | 63.06% | -2.46% | -21.55% | -9.74% | 37.85% | -10.34% | 168.88% | -59.27% | 14.47% | 8.47% | -78.65% | 146.76% | 120.58% | -54.6% | 95.28% | -28.32% | 82.47% | 208.77% | -39.55% | 106.29% | -60.89% | 1102.27% | - |
CRE concentration and funding
According to recent financial disclosures, Hanmi Financial Corporation has consistently generated positive net income, with quarterly earnings averaging approximately $18.2 million over the last ten quarters, providing a stable foundation for organic capital growth despite the inherent volatility in the bank's broader operating cash flow metrics.
The bank's ability to maintain consistent profitability suggests that it retains sufficient internal capital generation to support its risk-weighted asset growth. Investors should monitor whether this earnings stream remains resilient enough to offset potential credit provisioning needs without necessitating external capital raises.
Based on reported cash flow data, HAFC has actively managed its investment securities portfolio, highlighted by a significant $154.8 million in proceeds from sales during 2025Q4, which suggests a tactical approach to liquidity management rather than a passive hold-to-maturity strategy for the bank's investment assets.
The frequent turnover in the securities portfolio appears to be a mechanism for balancing liquidity needs against interest rate risk. Analysts should investigate whether these sales are driven by a strategic repositioning of the balance sheet or a reactive measure to address short-term funding pressures.
As indicated by historical cash flow statements, HAFC has maintained a consistent dividend payout, with quarterly distributions hovering around $8 million, while simultaneously utilizing modest share buybacks, which suggests a management commitment to returning capital to shareholders despite the cyclical nature of the bank's core earnings.
The stability of dividend payments relative to net income indicates a conservative payout ratio that likely preserves capital for regulatory compliance and growth. However, the variability in buyback activity may reflect management's opportunistic approach to valuation rather than a fixed, long-term capital return mandate.
Based on an analysis of the provided cash flow data, the OCF/NI ratio has exhibited extreme volatility, ranging from a low of 0.14 in 2024Q2 to a high of 6.66 in 2025Q3, which suggests that traditional cash flow metrics are heavily distorted by non-operating balance sheet movements.
This wide variance implies that the statement of cash flows is less indicative of core operational health than the income statement or balance sheet. Investors should be wary of interpreting these OCF figures as a proxy for cash-based profitability, as they are likely influenced by the timing of loan originations and sales.
Quick answers to the most common questions about buying HAFC stock.
Hanmi Financial Corporation (HAFC) generated $206.0M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Hanmi Financial Corporation (HAFC) generated $203.7M in free cash flow in 2025. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
Hanmi Financial Corporation (HAFC) spent $2.3M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2025, Hanmi Financial Corporation (HAFC) returned $32.6M to shareholders via cash dividends and spent $9.4M on share repurchases. This shows the company's commitment to returning capital to its equity investors.