HANMI FINANCIAL CORPORATION HAFC Income Statement

Hanmi financial corporation (HAFC)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Dec'12	Sep'12	Jun'12	Mar'12	Dec'11	Sep'11	Jun'11	Mar'11	Sep'10	Jun'10
Interest and dividend income:
Interest and fees on loans receivable
54,648	56,267	57,929	56,872	58,334	57,947	56,361	53,708	51,574	52,176	50,265	47,971	45,378	43,780	41,150	40,645	39,067	38,382	36,466	36,915	37,034	36,459	30,912	27,522	27,329	25,068	29,098	27,839	26,799	24,900	26,781	27,241	27,542	28,162	29,355	29,249	30,905	33,681	34,486
Interest on securities
3,655	3,666	3,769	3,770	3,456	3,276	3,238	3,198	3,105	3,193	3,188	2,949	2,520	2,550	2,701	2,886	3,017	2,685	2,884	2,979	3,874	4,568	3,158	2,375	2,537	2,461	2,040	2,100	2,116	2,138	1,992	2,190	2,098	1,979	2,022	3,094	2,673	1,592	1,359
Dividends on FHLB stock
289	289	286	283	289	555	286	283	289	289	286	283	374	927	419	579	542	581	607	1,116	482	832	463	236	236	955	194	147	108	127	24	29	29	18	17	20	21	33	20
Tax-exempt interest on securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	20	76	-	69	73	95	95	98	99	102	100	39	37	40	62	77
Interest on deposits in other banks
333	477	193	557	335	179	151	133	114	126	123	123	77	56	55	49	48	65	68	40	48	39	29	18	21	69	28	24	88	219	142	59	2	72	75	79	89	165	99
Interest on term federal funds sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	22	191	168	325	182	49	18	27	32	11
Interest on federal funds sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0	6	-119	20	31	128	5	5	9	8	8	16
Dividends on FRB stock
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	172	168	-	198	196	183	239	154	148	68	122	112	112	112	102	103
Total interest and dividend income
58,925	60,699	62,177	61,482	62,414	61,957	60,036	57,322	55,082	55,784	53,862	51,326	48,349	47,313	44,325	44,159	42,674	41,713	40,025	41,050	41,438	41,462	34,562	30,343	30,367	27,739	31,627	30,379	29,395	27,621	29,402	29,965	30,294	30,640	31,674	32,618	33,875	35,675	36,171
Interest expense:
Interest on deposits
12,742	14,699	15,995	16,728	15,683	14,136	11,694	9,465	7,785	7,401	7,071	6,463	5,154	4,801	4,358	3,684	3,727	3,947	3,881	3,802	3,780	3,908	3,278	3,153	3,221	3,302	3,117	3,100	3,159	3,366	3,639	3,953	4,919	5,301	5,730	6,192	6,735	8,299	8,813
Interest on borrowings
496	325	367	0	71	421	1,300	1,000	679	385	198	49	468	206	179	299	195	15	1	4	56	36	37	30	48	36	36	41	38	39	40	43	43	44	46	239	333	342	339
Interest on subordinated debentures
1,712	1,739	1,757	1,764	1,772	1,754	1,749	1,728	1,694	1,677	1,667	1,636	373	240	206	196	183	169	158	151	145	-	73	0	-	0	0	84	594	303	804	797	799	767	739	711	698	739	692
Interest on rescinded stock obligation
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	87	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Interest on other borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	-	22	31
Total interest expense
14,950	16,763	18,119	18,492	17,526	16,311	14,707	12,208	10,158	9,440	8,936	8,148	5,995	5,247	4,743	4,179	4,105	4,131	4,040	3,957	3,981	4,106	3,475	3,183	3,269	3,338	3,153	3,225	3,791	3,708	4,483	4,793	5,761	6,206	6,515	7,143	7,766	9,402	9,875
Net interest income before credit loss expense
43,975	43,936	44,058	42,990	44,888	45,646	45,329	45,114	44,924	46,344	44,926	43,178	42,354	42,066	39,582	39,980	38,569	37,582	35,985	37,093	37,457	37,356	31,087	27,160	27,098	24,401	28,474	27,154	25,604	23,913	24,919	25,172	24,533	24,434	25,159	25,475	26,109	26,273	26,296
Credit loss expense
15,739	10,752	1,602	16,699	1,117	3,041	200	100	649	220	269	422	-80	151	-1,450	-1,515	-1,525	-3,834	-3,704	-2,403	-1,673	-13,376	-48	3,866	3,300	-	-	-	-	0	0	4,000	2,000	-	8,100	-	-	22,000	37,500
Net interest income after credit loss expense
28,236	33,184	42,456	26,291	43,771	42,605	45,129	45,014	44,275	46,124	44,657	42,756	42,434	41,915	41,032	41,495	40,094	41,416	39,689	39,496	39,130	36,496	31,039	31,026	30,398	23,825	28,474	27,154	25,604	23,913	24,919	21,172	22,533	20,434	17,059	25,475	26,109	4,273	-11,204
Noninterest income:
Service charges on deposit accounts
2,400	2,589	2,518	2,486	2,358	2,648	2,513	2,328	2,511	2,729	2,678	2,461	2,528	2,598	2,883	2,898	3,001	3,142	3,378	3,169	3,211	3,449	2,883	2,568	2,474	2,645	2,730	2,884	3,048	3,191	2,851	2,936	3,168	3,182	3,225	3,278	3,141	3,442	3,602
Bargain purchase gain, net of deferred taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	14,577	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Insurance commissions
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,213	-	1,092	1,294	1,236	1,097	940	1,203	1,260	1,089	1,206
Trade finance and other service charges and fees
986	1,267	1,191	1,204	1,124	1,166	1,128	1,149	1,173	1,046	1,133	1,269	1,047	1,132	992	1,064	1,044	1,132	1,115	1,109	1,267	2,189	1,153	1,166	438	2,956	481	541	497	559	476	487	454	495	469	499	462	484	523
Trade finance fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	252	-	248	276	277	282	274	292	292	339	341	328	297	381	412
Other service charges and fees
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	331	-	349	335	398	394	361	380	364	357	389	368	333	409	372
Bank-owned life insurance income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	223	-	230	233	230	238	235	238	399	239	237	233	230	237	235
Gain on sale of Small Business Administration ("SBA") loans
1,154	1,498	1,767	1,060	926	984	1,114	1,408	1,448	2,056	2,546	2,668	1,464	1,786	1,616	1,774	858	3,871	1,621	1,573	1,684	1,228	1,221	498	547	1,936	994	2,378	2,692	-	1,772	5,473	-	-	1,612	-	-338	229	220
Other-than-temporary impairment loss on investment securities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	176	116	-	-	-	-	-	790	-
Disposition gains on Purchased Credit Impaired (PCI) loans
-	-	-	-	-	-	-	-	-	-	979	540	183	-	789	1,963	659	2,141	4,334	2,470	1,222	-	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net gain on sales of securities
-	0	0	570	725	1	19	67	-428	274	267	938	269	0	46	0	0	467	2,048	1,912	2,184	159	67	364	1,421	116	611	303	9	4	10	1,381	1	-	1,704	-70	-	4	-
Net loss on sales of other loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-460	-97	-17,715	515	5,326	2,393	-	3,057	-77	-	-	-
Less: Portion of Loss Recognized in Other Comprehensive Income
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	-
Net Impairment Loss Recognized in Earnings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	790	-
Other operating income
1,683	1,355	1,384	2,409	1,121	1,500	1,441	993	1,357	3,277	1,213	1,826	1,726	5,962	2,348	1,674	1,399	1,305	1,065	900	1,282	1,332	1,710	892	528	2,325	416	248	90	1,594	140	150	112	255	118	255	123	186	106
Total noninterest income
6,223	6,709	6,860	7,729	6,254	6,299	6,215	5,945	6,061	7,680	8,816	9,702	7,217	8,067	8,674	9,373	6,961	12,058	13,561	11,133	10,850	8,983	21,611	5,488	6,214	6,746	6,059	6,738	8,357	4,071	6,520	7,189	3,633	6,348	5,978	6,017	5,508	5,671	6,676
Noninterest expense:
Salaries and employee benefits
17,749	17,751	17,530	16,881	15,738	15,844	17,436	17,453	18,702	17,270	16,947	16,623	17,104	16,247	15,950	16,061	15,698	14,841	16,097	15,542	16,384	16,791	12,847	10,280	10,259	8,039	9,101	8,638	9,351	6,191	9,148	9,449	9,110	9,433	8,146	8,762	9,124	9,552	9,011
Occupancy and equipment
4,475	4,547	4,528	3,468	4,521	4,105	3,685	4,082	4,072	3,997	3,883	3,878	3,982	3,641	3,917	3,938	3,496	3,948	4,896	4,224	4,303	4,332	3,098	2,469	2,396	2,414	2,561	2,486	2,556	2,338	2,623	2,621	2,595	2,533	2,605	2,650	2,565	2,702	2,674
Unconsummated acquisition costs
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	307	-	-	-	-	-	-	-	-	-	-	-	-
Deposit insurance premiums and regulatory assessments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	437	-	308	517	234	1,249	283	1,498	1,401	1,631	1,552	1,377	2,070	2,253	4,075
Data processing
2,669	2,122	2,410	2,140	2,083	1,893	1,745	1,554	1,678	1,812	1,779	1,738	1,631	1,454	1,330	1,454	1,436	1,436	1,418	1,335	2,132	2,334	1,476	1,112	1,158	1,135	1,146	1,131	1,170	1,147	1,211	1,298	1,253	1,332	1,383	1,487	1,399	1,446	1,487
Professional fees
1,915	2,602	2,826	1,983	1,649	1,969	1,626	1,214	1,369	1,552	1,210	1,554	1,148	1,311	1,090	1,509	1,464	1,923	1,940	1,701	2,341	4,778	1,386	652	748	216	599	2,364	2,156	1,736	1,112	1,089	749	1,113	1,147	1,138	789	753	1,022
Directors and officers liability insurance
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	191	-	219	219	220	298	296	295	297	736	737	733	734	716	716
Supplies and communications
781	717	726	649	844	797	805	693	708	777	755	745	635	683	821	709	736	944	880	928	830	888	628	595	501	528	533	599	495	421	669	576	558	537	712	496	578	683	574
Advertising and promotion
734	1,165	927	945	760	1,317	814	1,034	876	988	1,147	1,015	802	1,141	1,153	1,094	522	1,342	1,290	1,046	523	1,292	809	753	581	866	1,039	834	672	603	1,023	1,009	601	888	631	908	566	567	503
Merger and integration costs (income)
-	-	-	-	-	-	-	-	-	-	0	-9	-	312	0	0	0	224	0	136	1,611	3,074	3,415	72	85	-	-	-	-	-	-	-	-	-	-	-	-	-	-
OREO expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	73	183	465	-322	225	-13	417	686	-741	0	6	-12	-59	-20	32	-33	352	69	-44	71	-86	806	829	2,580	1,718
Loan-related expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	83	-	91	91	146	75	164	88	200	196	222	184	225	322	310
Amortization of other intangible assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	41	-123	41	45	71	131	161	190	218	273	301
Expense related to unconsummated capital offerings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,220	-	-	-
Other operating expenses
2,745	5,186	3,660	4,078	3,470	2,527	2,897	3,480	2,352	2,893	2,939	3,400	1,938	1,887	4,003	2,915	2,251	3,852	1,976	2,127	2,851	3,787	2,564	2,206	1,354	3,508	1,791	1,748	2,094	-604	1,882	1,726	1,955	2,648	1,642	1,935	1,964	2,232	2,374
Total noninterest expense
31,068	34,090	32,607	30,144	29,065	29,298	29,008	29,510	29,757	29,258	28,660	28,944	27,240	25,955	28,337	27,863	26,068	28,188	28,722	27,026	31,392	37,251	25,482	18,139	17,799	15,031	17,636	18,607	19,167	13,298	18,804	19,763	18,746	21,249	18,852	22,886	21,061	24,079	24,765
Income before tax
3,391	5,803	16,709	3,876	20,960	19,606	22,336	21,449	20,579	24,546	24,813	23,514	22,411	24,027	21,369	23,005	20,987	25,286	24,528	23,603	18,588	8,228	27,168	18,375	18,813	15,540	16,897	15,285	14,794	14,686	12,635	8,598	7,420	5,533	4,185	8,606	10,556	-14,135	-29,293
Income tax expense
1,000	2,760	4,300	1,200	6,300	8,178	6,300	5,900	5,724	13,049	9,890	9,057	8,628	9,611	8,248	8,857	6,183	10,460	10,569	9,619	7,534	2,301	5,368	6,866	7,844	5,508	6,582	5,958	4,684	924	-644	-47,177	79	27	-18	605	119	442	-36
Income from continuing operations, net of taxes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	5,927	21,800	11,509	10,969	-	10,315	9,327	-	-	-	-	-	-	-	-	-	-	-
Income from operations of discontinued subsidiaries (including gain on disposal of $51 in the second quarter of 2014)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	0	-1	37	-	112	244	-	-	-	-	-	-	-	-	-	-	-
Income tax expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	466	15	-	42	84	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	0	-467	22	-	70	160	-	-	-	-	-	-	-	-	-	-	-
Net income
2,350	3,084	12,376	2,656	14,672	11,384	16,081	15,548	14,855	11,497	14,923	14,457	13,783	14,416	13,121	14,148	14,804	14,826	13,959	13,984	11,054	5,928	21,800	11,042	10,991	9,875	10,385	9,487	10,110	13,929	13,279	55,775	7,341	5,506	4,203	8,001	10,437	-14,577	-29,257
Basic earnings per share:
Income from continuing operations, net of taxes (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.18	0.69	0.36	0.35	-	0.33	0.30	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations, net of taxes (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	-0.01	0.00	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Basic earnings per share
0.08	0.09	0.40	0.09	0.48	0.36	0.50	0.48	0.46	0.36	0.46	0.45	0.43	0.45	0.41	0.44	0.46	0.46	0.44	0.44	0.35	0.18	0.69	0.35	0.35	0.31	0.33	0.30	0.32	0.45	0.42	1.77	0.23	0.19	0.22	0.42	0.55	-0.12	-0.57
Diluted earnings per share:
Income from continuing operations, net of taxes (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.19	0.68	0.36	0.34	-	0.33	0.29	-	-	-	-	-	-	-	-	-	-	-
Loss from discontinued operations, net of taxes (in usd per share)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00	-0.01	0.00	-	-	0.01	-	-	-	-	-	-	-	-	-	-	-
Diluted earnings per share
0.08	0.09	0.40	0.09	0.48	0.35	0.50	0.48	0.46	0.35	0.46	0.45	0.43	0.44	0.41	0.44	0.46	0.45	0.44	0.44	0.35	0.19	0.68	0.35	0.34	0.31	0.33	0.30	0.32	0.45	0.42	1.77	0.23	0.19	0.22	0.42	0.55	-0.12	-0.57
Weighted-average shares outstanding:
Basic
30,469	30,718	30,830	30,685	30,667	31,210	32,155	32,189	32,145	32,111	32,095	32,078	32,001	31,956	31,912	31,882	31,846	31,831	31,799	31,774	31,747	31,735	31,708	31,681	31,659	31,644	31,621	31,590	31,538	-31,407,569	31,475	31,475	31,470,520	-18,844,630	18,888,474	18,888	18,882	122,789	51,036
Diluted
30,472	30,734	30,859	30,727	30,720	31,292	32,275	32,336	32,301	32,309	32,255	32,243	32,191	32,148	32,088	32,029	31,928	31,662	31,909	31,908	32,026	32,002	32,001	31,974	31,934	31,770	31,733	31,655	31,626	-31,426,551	31,545	31,499	31,489,569	-18,863,425	18,907,299	18,907	18,910	122,789	51,036
DIVIDENDS DECLARED PER SHARE
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0.00	0.00