Hanmi Financial Declares Cash Dividend of $0.25 per share
25 July 2024 - 10:00PM
Hanmi Financial Corporation (NASDAQ: HAFC, or
“Hanmi”), the parent company of Hanmi Bank (the “Bank”),
today announced that its Board of Directors declared a cash
dividend on its common stock for the 2024 third quarter of $0.25
per share. The dividend will be paid on August 21, 2024, to
stockholders of record as of the close of business on August 5,
2024.
About Hanmi Financial
Corporation Headquartered in Los Angeles, California,
Hanmi Financial Corporation owns Hanmi Bank, which serves
multi-ethnic communities through its network of 32 full-service
branches and eight loan production offices in California, Texas,
Illinois, Virginia, New Jersey, New York, Colorado, Washington and
Georgia. Hanmi Bank specializes in real estate, commercial, SBA and
trade finance lending to small and middle market businesses.
Additional information is available at www.hanmi.com.
Forward-Looking Statements
This press release contains forward-looking
statements, which are included in accordance with the “safe harbor”
provisions of the Private Securities Litigation Reform Act of 1995.
All statements other than statements of historical fact are
“forward–looking statements” for purposes of federal and state
securities laws, including, but not limited to, statements about
our anticipated future operating and financial performance,
financial position and liquidity, business strategies, regulatory
and competitive outlook, investment and expenditure plans, capital
and financing needs and availability, plans and objectives of
management for future operations, developments regarding our
capital and strategic plans, and other similar forecasts and
statements of expectation and statements of assumption underlying
any of the foregoing. In some cases, you can identify
forward-looking statements by terminology such as “may,” “will,”
“should,” “could,” “expects,” “plans,” “intends,” “anticipates,”
“believes,” “estimates,” “predicts,” “potential,” or “continue,” or
the negative of such terms and other comparable terminology.
Although we believe that our forward-looking statements to be
reasonable, we cannot guarantee future results, levels of activity,
performance or achievements.
Forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause our
actual results, levels of activity, performance or achievements to
differ from those expressed or implied by the forward-looking
statements. These factors include the following:
- a failure to maintain adequate
levels of capital and liquidity to support our operations;
- general economic and business
conditions internationally, nationally and in those areas in which
we operate, including any potential recessionary conditions;
- volatility and deterioration in the
credit and equity markets;
- changes in consumer spending,
borrowing and savings habits;
- availability of capital from
private and government sources;
- demographic changes;
- competition for loans and deposits
and failure to attract or retain loans and deposits;
- inflation and fluctuations in
interest rates that reduce our margins and yields, the fair value
of financial instruments, the level of loan originations or
prepayments on loans we have made and make, the level of loan sales
and the cost we pay to retain and attract deposits and secure other
types of funding;
- our ability to enter new markets
successfully and capitalize on growth opportunities;
- the current or anticipated impact
of military conflict, terrorism or other geopolitical events;
- the effect of potential future
supervisory action against us or Hanmi Bank and our ability to
address any issues raised in our regulatory exams;
- risks of natural disasters;
- legal proceedings and litigation
brought against us;
- a failure in or breach of our
operational or security systems or infrastructure, including
cyberattacks;
- the failure to maintain current
technologies;
- risks associated with Small
Business Administration loans;
- failure to attract or retain key
employees;
- our ability to access
cost-effective funding;
- changes in liquidity, including the
size and composition of our deposit portfolio and the percentage of
uninsured deposits in the portfolio;
- fluctuations in real estate
values;
- changes in accounting policies and
practices;
- changes in governmental regulation,
including, but not limited to, any increase in FDIC insurance
premiums and changes in the monetary policies of the U.S. Treasury
and the Board of Governors of the Federal Reserve System;
- the ability of Hanmi Bank to make
distributions to Hanmi Financial Corporation, which is restricted
by certain factors, including Hanmi Bank’s retained earnings, net
income, prior distributions made, and certain other financial
tests;
- strategic transactions we may enter
into;
- the adequacy of and changes in the
methodology for computing our allowance for credit losses;
- our credit quality and the effect
of credit quality on our credit losses expense and allowance for
credit losses;
- changes in the financial
performance and/or condition of our borrowers and the ability of
our borrowers to perform under the terms of their loans and other
terms of credit agreements;
- our ability to control expenses;
and
- cyber security and fraud risks
against our information technology and those of our third-party
providers and vendors.
In addition, we set forth certain risks in our
reports filed with the U.S. Securities and Exchange Commission,
including, Item 1A of our Annual Report on Form 10-K for the year
ended December 31, 2023, our Quarterly Reports on Form 10-Q, and
Current Reports on Form 8-K that we will file hereafter, which
could cause actual results to differ from those projected. We
undertake no obligation to update such forward-looking statements
except as required by law.
Investor Contacts:Romolo (Ron) SantarosaSenior
Executive Vice President & Chief Financial
Officer213-427-5636
Lisa FortunaInvestor RelationsFinancial Profiles,
Inc.lfortuna@finprofiles.com 310-622-8251
Source: Hanmi Bank
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