HANMI FINANCIAL CORPORATION HAFC Income Statement

Hanmi financial corporation (HAFC)

Income statement / Yearly

Dec'19	Dec'18	Dec'17	Dec'16	Dec'15	Dec'14	Dec'13	Dec'12	Dec'11	Dec'10	Dec'09
Interest and dividend income:
Interest and fees on loans receivable
229,402	219,590	195,790	164,642	148,797	122,222	108,804	106,464	117,671	137,328	173,318
Interest on securities
14,661	12,817	11,850	11,154	12,422	12,638	8,717	8,418	9,768	5,874	5,675
Dividends on FHLB stock
1,147	1,413	1,232	2,467	2,786	1,767	1,404	209	76	102	64
Tax-exempt interest on securities
-	-	-	-	-	-	-	394	216	225	2,303
Interest on deposits in other banks
1,562	577	449	208	221	107	209	422	315	468	151
Interest on term federal funds sold
-	-	-	-	-	-	-	706	276	33	1,718
Interest on federal funds sold
-	-	-	-	-	-	6	60	27	52	326
Dividends on FRB stock
-	-	-	-	-	-	-	609	458	430	592
Total interest and dividend income
246,772	234,397	209,321	178,471	164,226	136,734	119,140	117,282	128,807	144,512	184,147
Interest expense:
Interest on deposits
63,105	43,080	26,089	16,570	15,410	13,560	12,678	15,877	23,958	34,408	76,246
Interest on borrowings
763	3,400	1,100	879	76	151	151	165	662	1,366	3,399
Interest on subordinated debentures
7,032	6,925	5,353	825	623	235	678	2,703	2,915	2,811	3,271
Interest on rescinded stock obligation
-	-	-	-	-	87	0	-	-	-	-
Interest on other borrowings
-	-	-	-	-	-	-	-	95	53	2
Total interest expense
70,900	53,384	32,519	18,274	16,109	14,033	13,507	18,745	27,630	38,638	82,918
Net interest income before credit loss expense
175,872	181,013	176,802	160,197	148,117	122,701	105,633	98,537	101,177	105,874	101,229
Credit loss expense
30,170	3,990	831	-4,339	-11,614	-6,258	576	6,000	12,100	122,496	196,387
Net interest income after credit loss expense
145,702	177,023	175,971	164,536	159,731	128,959	105,057	92,537	89,077	-16,622	-95,158
Noninterest income:
Service charges on deposit accounts
9,951	10,000	10,396	11,380	12,900	11,374	11,307	12,146	12,826	14,049	17,054
Bargain purchase gain, net of deferred taxes
-	-	-	-	-	14,577	0	-	-	-	-
Insurance commissions
-	-	-	-	-	-	-	-	4,500	4,695	4,492
Trade finance and other service charges and fees
4,786	4,616	4,495	4,232	4,623	4,946	4,475	1,976	1,925	1,968	2,109
Trade finance fees
-	-	-	-	-	-	-	1,140	1,305	1,523	1,956
Other service charges and fees
-	-	-	-	-	-	-	1,499	1,447	1,516	1,810
Bank-owned life insurance income
-	-	-	-	-	-	-	1,110	939	942	932
Gain on sale of Small Business Administration ("SBA") loans
5,251	4,954	8,734	6,034	8,749	3,494	8,000	9,923	4,543	514	1,220
Other-than-temporary impairment loss on investment securities
-	-	-	-	-	-	-	292	-	790	-
Disposition gains on Purchased Credit Impaired (PCI) loans
-	-	-	-	10,167	1,432	0	-	-	-	-
Net gain on sales of securities
1,295	-341	1,748	46	6,611	2,011	1,039	1,396	1,635	122	1,833
Net loss on sales of other loans
-	-	-	-	-	-	-	-9,481	-6,020	-	-
Less: Portion of Loss Recognized in Other Comprehensive Income
-	-	-	-	-	-	-	-	-	0	0
Net Impairment Loss Recognized in Earnings
-	-	-	-	-	-	-	-	-	790	-
Other operating income
6,269	5,291	8,042	11,383	4,552	4,462	3,079	1,996	751	867	704
Total noninterest income
27,552	24,520	33,415	33,075	47,602	42,296	27,900	21,413	23,851	25,406	32,110
Noninterest expense:
Salaries and employee benefits
67,900	69,435	67,944	63,956	62,864	50,177	35,129	33,898	35,465	36,730	33,101
Occupancy and equipment
17,064	15,944	15,740	14,992	17,371	12,295	10,017	10,177	10,353	10,773	11,239
Deposit insurance premiums and regulatory assessments
-	-	-	-	-	-	-	4,431	6,630	10,756	10,418
Data processing
8,755	6,870	6,960	5,674	6,321	6,080	4,582	4,909	5,601	5,931	6,297
Professional fees
9,060	6,178	5,464	5,374	7,905	7,564	5,335	4,686	4,187	3,521	4,099
Directors and officers liability insurance
-	-	-	-	-	-	-	1,186	2,940	2,865	1,175
Supplies and communications
2,936	3,003	2,912	2,949	3,582	2,612	2,155	2,224	2,323	2,302	2,352
Advertising and promotion
3,797	4,041	3,952	3,910	4,201	3,435	3,411	3,236	2,993	2,394	2,402
Merger and integration costs (income)
-	846	-40	312	1,971	6,646	730	-	-	-	-
OREO expense
-	-	-	-	307	-49	-59	344	1,620	10,679	5,890
Loan-related expense
-	-	-	-	-	-	-	527	827	1,147	1,947
Amortization of other intangible assets
-	-	-	-	-	-	-	34	700	1,149	1,568
Expense related to unconsummated capital offerings
-	-	-	-	-	-	-	-	2,220	-	-
Other operating expenses
16,394	11,256	11,170	11,056	10,806	9,911	9,141	4,959	8,189	8,558	9,866
Total noninterest expense
125,906	117,573	114,102	108,223	115,328	98,671	70,441	70,611	84,048	96,805	90,354
Income before tax
47,348	83,970	95,284	89,388	92,005	72,584	62,516	43,339	28,880	-88,021	-153,402
Income tax expense
14,560	26,102	40,624	32,899	38,182	22,379	22,732	-46,818	733	-12	-31,125
Income from continuing operations, net of taxes
-	-	-	-	-	50,205	39,784	90,157	-	-	-
Income from operations of discontinued subsidiaries (including gain on disposal of $51 in the second quarter of 2014)
-	-	-	-	-	37	115	287	-	-	-
Income tax expense
-	-	-	-	-	481	42	120	-	-	-
Loss from discontinued operations
-	-	-	-	-	-444	73	167	-	-	-
Net income
32,788	57,868	54,660	56,489	53,823	49,761	39,857	90,324	28,147	-88,009	-122,277
Basic earnings per share:
Income from continuing operations, net of taxes (in usd per share)
-	-	-	-	-	1.58	1.26	2.86	-	-	-
Loss from discontinued operations, net of taxes (in usd per share)
-	-	-	-	-	-0.01	0.00	0.01	-	-	-
Basic earnings per share
1.06	1.80	1.70	1.76	1.69	1.57	1.26	2.87	1.38	-7.46	-20.56
Diluted earnings per share:
Income from continuing operations, net of taxes (in usd per share)
-	-	-	-	-	1.57	1.26	2.86	-	-	-
Loss from discontinued operations, net of taxes (in usd per share)
-	-	-	-	-	-0.01	0.00	0.01	-	-	-
Diluted earnings per share
1.06	1.79	1.69	1.75	1.68	1.56	1.26	2.87	1.38	-7.46	-20.56
Weighted-average shares outstanding:
Basic
30,725	31,924	32,071	31,899	31,788	31,696	31,598	31,475	20,403	11,790,278	5,946
Diluted
30,760	32,051	32,249	32,048	31,876	31,978	31,696	31,515	20,422	11,790,278	5,946
DIVIDENDS DECLARED PER SHARE
-	-	-	-	-	-	-	-	-	-	0.00