Hanmi Financial Corporation (HAFC) Income Statement Analysis

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Complete financial analysis of Hanmi Financial Corporation (HAFC) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Hanmi Financial Corporation, a leading company in the Banks – Regional industry within the Financial Services sector.

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Hanmi Financial Corporation (HAFC)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.hanmi.com

About Hanmi Financial Corporation

Hanmi 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.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008	2007	2006	2005	2004	2003	2002	2001	2000	1999
Revenue	249.17M	271.85M	235.55M	224.00M	203.42M	205.53M	210.22M	193.27M	195.72M	149.90M	139.84M	125.34M	125.03M	131.28M	133.34M	169.67M	193.28M	189.36M	169.21M	129.15M	76.64M	69.18M	60.94M	56.34M	46.29M
Cost of Revenue	11.26M	0.00	9.58M	10.02M	16.39M	11.26M	10.87M	10.99M	10.81M	6.41M	8.10M	6.94M	8.19M	8.56M	11.04M	16.23M	11.87M	10.11M	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Gross Profit	237.91M	271.85M	225.97M	213.98M	187.03M	194.28M	199.35M	182.28M	184.91M	143.49M	131.75M	118.40M	116.84M	122.72M	122.30M	153.44M	181.41M	179.25M	169.21M	129.15M	76.64M	69.18M	60.94M	56.34M	46.29M
Gross Profit Ratio	95.48%	100.00%	95.93%	95.53%	91.94%	94.52%	94.83%	94.31%	94.48%	95.72%	94.21%	94.46%	93.45%	93.48%	91.72%	90.43%	93.86%	94.66%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	81.40M	76.14M	72.56M	66.99M	67.90M	69.44M	67.94M	63.96M	62.86M	52.90M	40.94M	42.55M	54.50M	56.28M	52.17M	42.21M	47.04M	40.51M	36.84M	33.54M	21.21M	17.93M	16.79M	14.25M	12.37M
Selling & Marketing	3.11M	3.64M	2.65M	2.67M	3.80M	4.04M	3.95M	3.91M	4.20M	3.44M	4.08M	3.88M	2.99M	2.39M	2.40M	3.52M	3.63M	3.00M	2.91M	3.00M	1.64M	1.52M	1.75M	1.72M	1.42M
SG&A	84.50M	79.78M	75.21M	69.66M	71.70M	73.48M	71.90M	67.87M	67.07M	56.34M	45.02M	46.42M	54.50M	56.28M	54.57M	45.73M	50.67M	43.51M	39.75M	36.54M	22.85M	19.45M	18.53M	15.97M	13.79M
Other Expenses	165.00M	-189.79M	-175.26M	452.00K	-227.77M	-151.53M	-30.46M	-28.96M	0.00	0.00	0.00	0.00	0.00	790.00K	0.00	0.00	0.00	0.00	-52.17M	-73.40M	-47.06M	-41.24M	-18.97M	-15.10M	-20.55M
Operating Expenses	249.51M	-110.01M	-100.05M	70.11M	-156.08M	-68.18M	9.42M	9.28M	12.11M	11.00M	11.48M	8.57M	7.18M	5.92M	6.50M	7.06M	6.10M	4.91M	-12.42M	-36.86M	-24.21M	-21.79M	-437.35K	867.04K	-6.76M
Cost & Expenses	249.51M	-110.01M	-100.05M	70.11M	-156.08M	-68.18M	20.28M	20.28M	22.91M	17.41M	19.58M	15.51M	15.37M	14.47M	17.54M	23.29M	17.97M	15.02M	-12.42M	-36.86M	-24.21M	-21.79M	-437.35K	867.04K	-6.76M
Interest Income	368.10M	272.79M	215.73M	222.96M	245.63M	232.98M	208.09M	176.00M	161.44M	134.97M	120.92M	118.98M	128.27M	143.98M	183.49M	238.18M	280.90M	260.19M	199.11M	134.17M	77.76M	69.61M	76.94M	72.52M	52.62M
Interest Expense	148.06M	36.17M	21.63M	42.97M	70.90M	53.38M	32.52M	18.27M	16.11M	14.03M	13.51M	18.75M	27.63M	38.64M	82.92M	103.78M	128.69M	106.43M	62.11M	32.62M	20.80M	21.35M	32.99M	30.89M	18.85M
Depreciation & Amortization	9.25M	15.06M	4.62M	10.95M	3.61M	2.96M	345.00K	3.23M	17.85M	133.00K	164.00K	198.00K	2.86M	3.44M	1.57M	6.32M	5.50M	5.57M	6.05M	7.57M	1.89M	1.43M	1.28M	610.61K	1.59M
EBITDA	0.00	155.78M	8.06M	9.63M	6.27M	5.29M	6.25M	6.41M	102.16M	74.92M	64.42M	0.00	0.00	0.00	-142.55M	0.00	0.00	124.93M	108.09M	73.59M	0.00	0.00	0.00	0.00	0.00
EBITDA Ratio	0.00%	65.07%	64.35%	31.45%	27.96%	72.23%	66.91%	63.25%	64.36%	63.29%	55.51%	51.12%	47.49%	-35.00%	-50.11%	3.92%	50.78%	115.25%	96.24%	77.32%	70.88%	70.57%	101.39%	102.62%	88.84%
Operating Income	15.37M	161.84M	135.49M	59.50M	47.35M	137.35M	6.25M	6.41M	4.55M	3.58M	735.00K	538.00K	751.00K	867.00K	704.00K	214.90M	262.93M	245.17M	156.80M	92.29M	52.44M	47.39M	60.50M	57.20M	39.53M
Operating Income Ratio	6.17%	59.53%	57.52%	26.56%	23.28%	66.83%	2.97%	3.32%	2.33%	2.39%	0.53%	0.43%	0.60%	0.66%	0.53%	126.66%	136.03%	129.47%	92.66%	71.46%	68.42%	68.50%	99.28%	101.54%	85.40%
Total Other Income/Expenses	99.21M	-15.06M	370.00K	-9.02M	-16.39M	-12.10M	-11.13M	-11.37M	-13.08M	-1.93M	-9.81M	-5.14M	28.13M	-88.89M	-154.11M	-318.34M	-298.97M	0.00	509.00K	-2.05M	-20.80M	-21.35M	-32.99M	-30.89M	-18.85M
Income Before Tax	114.58M	140.73M	135.49M	59.50M	47.35M	83.97M	95.28M	89.39M	92.01M	72.58M	61.99M	43.01M	28.88M	-88.02M	-153.40M	-103.45M	-36.04M	106.24M	94.68M	59.68M	31.64M	26.04M	27.51M	26.31M	20.69M
Income Before Tax Ratio	45.99%	51.77%	57.52%	26.56%	23.28%	40.85%	45.33%	46.25%	47.01%	48.42%	44.33%	34.31%	23.10%	-67.05%	-115.05%	-60.97%	-18.65%	56.10%	55.96%	46.21%	41.28%	37.65%	45.15%	46.70%	44.69%
Income Tax Expense	34.54M	39.33M	36.82M	17.30M	14.56M	26.10M	40.62M	32.90M	38.18M	22.38M	22.09M	-47.37M	733.00K	-12.00K	-31.13M	-1.36M	24.48M	40.59M	36.46M	22.98M	12.43M	9.01M	10.70M	10.79M	8.68M
Net Income	80.04M	101.39M	98.68M	42.20M	32.79M	57.87M	54.66M	56.49M	53.82M	49.76M	39.91M	90.37M	28.15M	-88.01M	-122.28M	-102.09M	-60.52M	65.65M	58.23M	36.70M	19.21M	17.03M	16.81M	15.52M	12.01M
Net Income Ratio	32.12%	37.30%	41.89%	18.84%	16.12%	28.16%	26.00%	29.23%	27.50%	33.20%	28.54%	72.10%	22.51%	-67.04%	-91.70%	-60.17%	-31.31%	34.67%	34.41%	28.42%	25.07%	24.62%	27.58%	27.56%	25.93%
EPS	2.63	3.33	3.22	1.38	1.06	1.81	1.70	1.76	1.69	1.57	1.26	2.87	1.38	-7.46	-20.56	-17.80	-10.13	10.72	9.44	3.48	2.72	4.92	4.51	2.49	3.19
EPS Diluted	2.62	3.32	3.22	1.38	1.06	1.81	1.69	1.75	1.68	1.56	1.26	2.87	1.38	-7.46	-20.56	-17.80	-10.13	10.64	9.36	3.36	2.68	4.80	4.44	2.49	3.19
Weighted Avg Shares Out	30.27M	30.30M	30.39M	30.28M	30.73M	31.92M	32.07M	31.90M	31.79M	31.70M	31.60M	31.48M	20.41M	11.79M	5.95M	5.73M	5.97M	6.11M	6.15M	10.57M	7.02M	3.46M	3.72M	3.39M	3.77M
Weighted Avg Shares Out (Dil)	30.33M	30.39M	30.47M	30.28M	30.76M	32.05M	32.25M	32.05M	31.88M	31.98M	31.70M	31.52M	20.42M	11.79M	5.95M	5.73M	5.97M	6.18M	6.24M	10.88M	7.17M	3.55M	3.79M	3.41M	3.77M

Analysts Estimate Hanmi Financial (HAFC) to Report a Decline in Earnings: What to Look Out for

April 16, 2024zacks.com

Hanmi Financial (HAFC) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

Hanmi Financial Corporation Announces First Quarter 2024 Earnings and Conference Call Date

April 9, 2024globenewswire.com

LOS ANGELES, April 09, 2024 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (Nasdaq: HAFC) (“Hanmi”), the holding company for Hanmi Bank, today announced that it will report first quarter 2024 financial results at the market close on Tuesday, April 23, 2024....

Hanmi Releases 2023 Annual Shareholder Letter

April 4, 2024globenewswire.com

LOS ANGELES, April 04, 2024 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ: HAFC, or “Hanmi”), the parent company of Hanmi Bank (the “Bank”), today announced the release of its 2023 annual letter to shareholders entitled “Building on our Legacy of...

New Strong Sell Stocks for February 20th

February 20, 2024zacks.com

HAFC, AVTR and WHD have been added to the Zacks Rank #5 (Strong Sell) List on February 20, 2024.

New Strong Sell Stocks for January 29th

January 29, 2024zacks.com

T, DSRLF and HAFC have been added to the Zacks Rank #5 (Strong Sell) List on January 29, 2023.

James Marasco Appointed to the Board of Hanmi Financial Corporation

January 25, 2024globenewswire.com

LOS ANGELES, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ: HAFC, or “Hanmi”), and its wholly-owned subsidiary, Hanmi Bank (the “Bank”), today announced that James Marasco has been appointed to the Board of Directors of the Company and...