8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________

FORM 8-K

_________________

CURRENT REPORT

Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  April 23, 2024

HANMI FINANCIAL CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	000-30421	95-4788120
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

900 Wilshire Boulevard, Suite 1250

Los Angeles, CA 90017

(Address of Principal Executive Offices) (Zip Code)

(213) 382-2200

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.001 par value	HAFC	Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company,indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On April 23, 2024, Hanmi Financial Corporation (“Hanmi Financial”) issued a press release announcing its financial results for the quarter ended March 31, 2024. A copy of the press release is attached as Exhibit 99.1 to this Form 8-K. In connection therewith, Hanmi Financial provided a supplemental presentation on its website at https://investors.hanmi.com. A copy of the supplemental presentation is attached hereto as Exhibit 99.2.

This information set forth under “Item 2.02. Results of Operations and Financial Condition,” including Exhibit 99.1 and 99.2 attached hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

99.1	Press release issued by Hanmi Financial dated April 23, 2024
99.2	Hanmi Financial First Quarter 2024 Earnings Supplemental Presentation
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

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, including 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.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	HANMI FINANCIAL CORPORATION
Date: April 23, 2024	By:	/s/ Bonita I. Lee
		Bonita I. Lee
		Chief Executive Officer

EX-99.1

EXHIBIT 99.1

Hanmi Reports 2024 First Quarter Results

LOS ANGELES, April 23, 2024 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ: HAFC, or “Hanmi”), the parent company of Hanmi Bank (the “Bank”), today reported financial results for the first quarter of 2024.

Net income for the first quarter of 2024 was $15.2 million, or $0.50 per diluted share, compared with $18.6 million, or $0.61 per diluted share, for the fourth quarter of 2023. The return on average assets for the first quarter was 0.81% and the return on average equity was 7.90%, compared with a return on average assets of 0.99% and the return on average equity of 9.70% for the fourth quarter of 2023.

CEO Commentary
“Our first quarter performance highlights the continued execution of our strategy of diversifying our loan portfolio and deposit franchise,” said Bonnie Lee, President and Chief Executive Officer of Hanmi. “Our relationship banking model enabled us to attract new customers, expanding our market share and driving a 6% annualized increase in deposits and a nearly 4% net increase in our C&I portfolio in the first quarter. We remained disciplined and selective in our underwriting practices, which have resulted in excellent asset quality.”

“The Hanmi franchise is robust and well positioned to successfully navigate a dynamic economic environment. Our balance sheet is solid with ample liquidity, and we have strong credit quality and excellent capital ratios. Furthermore, we have a healthy loan pipeline, stable core deposits, and well-managed expenses. Looking ahead, we will continue to optimize our branch network through a consolidation of existing offices and by entering new markets this year. I am grateful to our team of highly skilled bankers who continually build enduring banking relationships with our customers and create value for our shareholders.”

First Quarter 2024 Highlights:        

• First quarter net income was $15.2 million, or $0.50 per diluted share, compared with $18.6 million, or $0.61 per diluted share for the fourth quarter of 2023. The decline in net income reflects the change to a credit loss expense for the first quarter from a recovery during the fourth quarter of 2023, lower net interest income, and higher noninterest expense, partially offset by higher noninterest income.
• Loans receivable were $6.18 billion at March 31, 2024, essentially unchanged from the end of the fourth quarter of 2023; loan production for the first quarter was $234.0 million with a weighted average interest rate of 8.02%.
• Deposits were $6.38 billion at March 31, 2024, up 1.5% from the end of the fourth quarter of 2023; noninterest-bearing demand deposits were 30.3% of total deposits at the end of the first quarter.
• Net interest income for the first quarter was $50.7 million, down $2.4 million, or 4.7%, from the fourth quarter of 2023, and net interest margin (taxable equivalent) was 2.78% for the first quarter, down 14 basis points; the average yield on loans increased 12 basis points while the cost of interest-bearing deposits increased 33 basis points.

• Noninterest income for the first quarter was $7.7 million, up $1.1 million, or 15.8%, from the fourth quarter of 2023, primarily reflecting a $0.4 million gain on the sale of residential mortgage loans, a $0.3 million valuation adjustment to bank-owned life insurance in the fourth quarter of 2023, and higher trade finance and remittance fees of $0.2 million.

• Noninterest expenses were $36.4 million for the first quarter, up $1.2 million, or 3.5%, from the fourth quarter of 2023, primarily reflecting an increase in salaries and benefits, partially offset by declines in nearly all other expense categories.

• Asset quality remained favorable with criticized loans declining 11.1% from the year-end 2023 to $86.0 million, or 1.4% of loans. Nonperforming assets declined 9.3% to $14.1 million, or 0.19% of total assets, and net charge offs were low at $1.6 million, or 0.10% of average loans (annualized).

For more information about Hanmi, please see the Q1 2024 Investor Update (and Supplemental Financial Information), which is available on the Bank’s website at www.hanmi.com and via a current report on Form 8-K on the website of the Securities and Exchange Commission at www.sec.gov. Also, please refer to “Non-GAAP Financial Measures” herein for further details of the presentation of certain non-GAAP financial measures.

Quarterly Highlights
(Dollars in thousands, except per share data)

	As of or for the Three Months Ended															Amount Change
	March 31,			December 31,			September 30,			June 30,			March 31,			Q1-24			Q1-24
	2024			2023			2023			2023			2023			vs. Q4-23			vs. Q1-23
Net income	$	15,164		$	18,633		$	18,796		$	20,620		$	21,991		$	(3,469	)	$	(6,827	)
Net income per diluted common share	$	0.50		$	0.61		$	0.62		$	0.67		$	0.72		$	(0.11	)	$	(0.22	)
Assets	$	7,512,046		$	7,570,341		$	7,350,140		$	7,344,924		$	7,434,130		$	(58,295	)	$	77,916
Loans receivable	$	6,177,840		$	6,182,434		$	6,020,785		$	5,965,171		$	5,980,458		$	(4,594	)	$	197,382
Deposits	$	6,376,060		$	6,280,574		$	6,260,072		$	6,315,768		$	6,201,038		$	95,486		$	175,022
Return on average assets		0.81	%		0.99	%		1.00	%		1.12	%		1.21	%		-0.18			-0.40
Return on average stockholders' equity		7.90	%		9.70	%		9.88	%		11.14	%		12.19	%		-1.80			-4.29
Net interest margin		2.78	%		2.92	%		3.03	%		3.11	%		3.28	%		-0.14			-0.50
Efficiency ratio (1)		62.42	%		58.86	%		51.82	%		54.11	%		49.54	%		3.56			12.88
Tangible common equity to tangible assets (2)		9.23	%		9.14	%		8.89	%		8.96	%		8.77	%		0.09			0.46
Tangible common equity per common share (2)	$	22.86		$	22.75		$	21.45		$	21.56		$	21.30			0.11			1.56
(1)       Noninterest expense divided by net interest income plus noninterest income.
(2)       Refer to "Non-GAAP Financial Measures" for further details.

Results of Operations
Net interest income for the first quarter decreased $2.4 million to $50.7 million from $53.1 million for the fourth quarter of 2023, down 4.7%. The decrease was primarily due to an increase in the cost of interest-bearing deposits, partially offset by an increase in interest-earning asset yields. The cost of interest-bearing deposits increased 33 basis points to 4.16% for the first quarter of 2024, from 3.83% for the fourth quarter of 2023. The increase in the cost of interest-bearing deposits was due to higher market interest rates and higher average balances. Average interest-bearing deposits were $4.41 billion for the first quarter, up 5.6% from $4.17 billion for the fourth quarter of 2023. The yield on average loans for the first quarter increased 12 basis points to 6.00%, from 5.88% for the fourth quarter of 2023. Average loans were $6.14 billion for the first quarter, up 1.1% from $6.07 billion for the fourth quarter of 2023. First quarter loan prepayment fees were $0.2 million, compared to $0.1 million for the fourth quarter of 2023. Net interest margin (taxable-equivalent) for the first quarter was 2.78%, compared with 2.92% for the fourth quarter of 2023.

	As of or For the Three Months Ended (in thousands)															Percentage Change
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,			Q1-24			Q1-24
Net Interest Income	2024			2023			2023			2023			2023			vs. Q4-23			vs. Q1-23
Interest and fees on loans receivable(1)	$	91,674		$	89,922		$	85,398		$	83,567		$	80,923			1.9	%		13.3	%
Interest on securities		4,955			4,583			4,204			4,126			4,025			8.1	%		23.1	%
Dividends on FHLB stock		361			341			317			283			289			5.9	%		24.9	%
Interest on deposits in other banks		2,604			2,337			4,153			2,794			2,066			11.4	%		26.0	%
Total interest and dividend income	$	99,594		$	97,183		$	94,072		$	90,770		$	87,303			2.5	%		14.1	%
Interest on deposits		45,638			40,277			36,818			32,115			25,498			13.3	%		79.0	%
Interest on borrowings		1,655			2,112			753			1,633			2,369			-21.6	%		-30.1	%
Interest on subordinated debentures		1,646			1,654			1,646			1,600			1,583			-0.5	%		4.0	%
Total interest expense		48,939			44,043			39,217			35,348			29,450			11.1	%		66.2	%
Net interest income	$	50,655		$	53,140		$	54,855		$	55,422		$	57,853			-4.7	%		-12.4	%
(1)       Includes loans held for sale.
	For the Three Months Ended (in thousands)															Percentage Change
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,			Q1-24			Q1-24
Average Earning Assets and Interest-bearing Liabilities	2024			2023			2023			2023			2023			vs. Q4-23			vs. Q1-23
Loans receivable (1)	$	6,137,888		$	6,071,644		$	5,915,423		$	5,941,071		$	5,944,399			1.1	%		3.3	%
Securities		969,520			961,551			955,473			971,531			980,712			0.8	%		-1.1	%
FHLB stock		16,385			16,385			16,385			16,385			16,385			0.0	%		0.0	%
Interest-bearing deposits in other banks		201,724			181,140			317,498			230,974			192,902			11.4	%		4.6	%
Average interest-earning assets	$	7,325,517		$	7,230,720		$	7,204,779		$	7,159,961		$	7,134,398			1.3	%		2.7	%
Demand: interest-bearing	$	86,401		$	86,679		$	94,703		$	99,057		$	109,391			-0.3	%		-21.0	%
Money market and savings		1,815,085			1,669,973			1,601,826			1,463,304			1,453,569			8.7	%		24.9	%
Time deposits		2,507,830			2,417,803			2,438,112			2,403,685			2,223,615			3.7	%		12.8	%
Average interest-bearing deposits		4,409,316			4,174,455			4,134,641			3,966,046			3,786,575			5.6	%		16.4	%
Borrowings		162,418			205,951			120,381			196,776			268,056			-21.1	%		-39.4	%
Subordinated debentures		130,088			129,933			129,780			129,631			129,483			0.1	%		0.5	%
Average interest-bearing liabilities	$	4,701,822		$	4,510,339		$	4,384,802		$	4,292,453		$	4,184,114			4.2	%		12.4	%
Average Noninterest Bearing Deposits
Demand deposits - noninterest bearing	$	1,921,189		$	2,025,212		$	2,136,156		$	2,213,171		$	2,324,413			-5.1	%		-17.3	%
(1)       Includes loans held for sale.
	For the Three Months Ended															Yield/Rate Change
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,			Q1-24			Q1-24
Average Yields and Rates	2024			2023			2023			2023			2023			vs. Q4-23			vs. Q1-23
Loans receivable(1)		6.00	%		5.88	%		5.73	%		5.64	%		5.51	%		0.12			0.49
Securities (2)		2.07	%		1.93	%		1.79	%		1.73	%		1.67	%		0.14			0.40
FHLB stock		8.87	%		8.25	%		7.67	%		6.92	%		7.16	%		0.62			1.71
Interest-bearing deposits in other banks		5.19	%		5.12	%		5.19	%		4.85	%		4.34	%		0.07			0.85
Interest-earning assets		5.47	%		5.34	%		5.19	%		5.09	%		4.96	%		0.13			0.51
Interest-bearing deposits		4.16	%		3.83	%		3.53	%		3.25	%		2.73	%		0.33			1.43
Borrowings		4.10	%		4.07	%		2.48	%		3.33	%		3.58	%		0.03			0.51
Subordinated debentures		5.06	%		5.09	%		5.07	%		4.94	%		4.89	%		-0.03			0.17
Interest-bearing liabilities		4.19	%		3.88	%		3.55	%		3.30	%		2.85	%		0.31			1.34
Net interest margin (taxable equivalent basis)		2.78	%		2.92	%		3.03	%		3.11	%		3.28	%		-0.14			-0.50
Cost of deposits		2.90	%		2.58	%		2.33	%		2.08	%		1.69	%		0.32			1.21
(1)       Includes loans held for sale.
(2)       Amounts calculated on a fully taxable equivalent basis using the federal tax rate in effect for the periods presented.

Credit loss expense for the first quarter was $0.2 million, compared to a credit loss recovery of $2.9 million for the fourth quarter of 2023. First quarter credit loss expense included a $0.4 million credit loss expense for loan losses, offset by a $0.2 million recovery for off-balance sheet items. First quarter net loan charge-offs were $1.6 million, compared to fourth quarter of 2023 net loan recoveries of $5.0 million that included a $6.0 million recovery from a 2019 troubled loan relationship.

Noninterest income for the first quarter increased $1.1 million to $7.7 million, or 15.8%, from $6.7 million for the fourth quarter of 2023. The increase primarily reflected a $0.4 million gain on sale of residential mortgage loans, a $0.3 million valuation adjustment to bank-owned life insurance in the fourth quarter of 2023, and a $0.2 million increase in trade finance and other service charges and fees. Additionally, gains on sales of SBA loans remained stable at $1.5 million. The volume of SBA loans sold in the first quarter decreased to $25.6 million, from $29.9 million for the fourth quarter of 2023, while trade premiums increased to 7.23% for the first quarter, from 6.17% for the fourth quarter of 2023.

	For the Three Months Ended (in thousands)												Percentage Change
	Mar 31,		Dec 31,			Sep 30,		Jun 30,			Mar 31,		Q1-24			Q1-24
Noninterest Income	2024		2023			2023		2023			2023		vs. Q4-23			vs. Q1-23
Service charges on deposit accounts	$	2,450	$	2,391		$	2,605	$	2,571		$	2,579		2.5	%		-5.0	%
Trade finance and other service charges and fees		1,414		1,245			1,155		1,173			1,258		13.6	%		12.4	%
Servicing income		712		772			838		825			742		-7.8	%		-4.0	%
Bank-owned life insurance income (expense)		304		(29	)		280		271			270		1148.3	%		12.6	%
All other operating income		928		853			1,178		1,811			1,618		8.8	%		-42.6	%
Service charges, fees & other		5,808		5,232			6,056		6,651			6,467		11.0	%		-10.2	%
Gain on sale of SBA loans		1,482		1,448			1,172		1,212			1,869		2.3	%		-20.7	%
Gain on sale of mortgage loans		443		-			-		-			-		0.0	%		0.0	%
Net gain (loss) on sales of securities		-		-			-		(1,871	)		-		0.0	%		0.0	%
Gain (loss) on sale of bank premises		-		-			4,000		-			-		0.0	%		0.0	%
Legal settlement		-		-			-		1,943			-		0.0	%		0.0	%
Total noninterest income	$	7,733	$	6,680		$	11,228	$	7,935		$	8,336		15.8	%		-7.2	%

Noninterest expense for the first quarter increased by $1.2 million to $36.4 million from $35.2 million for the fourth quarter of 2023. The increase was primarily due to a $1.5 million increase in salaries and benefits due to seasonally higher employer taxes and benefits of $1.4 million. All other categories of noninterest expense combined, except for data processing, decreased $0.3 million in the first quarter from the fourth quarter of 2023. Data processing increased by less than $0.1 million. The efficiency ratio for the first quarter was 62.42%, compared with 58.86% for the fourth quarter of 2023, primarily due to the lower revenue and higher expenses.

	For the Three Months Ended (in thousands)												Percentage Change
	Mar 31,		Dec 31,		Sep 30,		Jun 30,			Mar 31,			Q1-24			Q1-24
	2024		2023		2023		2023			2023			vs. Q4-23			vs. Q1-23
Noninterest Expense
Salaries and employee benefits	$	21,585	$	20,062	$	20,361	$	20,365		$	20,610			7.6	%		4.7	%
Occupancy and equipment		4,537		4,604		4,825		4,500			4,412			-1.5	%		2.8	%
Data processing		3,551		3,487		3,490		3,465			3,253			1.8	%		9.2	%
Professional fees		1,893		1,977		1,568		1,376			1,335			-4.2	%		41.8	%
Supplies and communication		601		613		552		638			676			-2.0	%		-11.1	%
Advertising and promotion		907		990		534		748			833			-8.4	%		8.9	%
All other operating expenses		3,160		3,252		2,852		3,243			1,957			-2.8	%		61.5	%
Subtotal		36,234		34,985		34,182		34,335			33,076			3.6	%		9.5	%
Other real estate owned expense (income)		22		15		16		4			(201	)		46.7	%		-110.9	%
Repossessed personal property expense (income)		189		211		47		(59	)		(84	)		-10.4	%		-325.0	%
Total noninterest expense	$	36,445	$	35,211	$	34,245	$	34,280		$	32,791			3.5	%		11.1	%

Hanmi recorded a provision for income taxes of $6.6 million for the first quarter of 2024, compared with $8.8 million for the fourth quarter of 2023, representing an effective tax rate of 30.2% and 32.2%, respectively for each period. The 2024 first quarter provision included a $0.2 million charge for share-based compensation vesting and $0.2 million additional expense associated with amended state tax returns. The fourth quarter 2023 income tax expense included a $0.6 million charge to increase the valuation allowance on state net operating loss carryforwards.

Financial Position
Total assets at March 31, 2024 decreased 0.8%, or $58.3 million, to $7.51 billion from $7.57 billion at December 31, 2023. The sequential quarter decrease reflected a 15.3%, or $46.3 million, decrease in cash and due from banks, and an $8.0 million decrease in loans held for sale. The decrease in cash and $95.5 million increase in deposits supported a $152.5 million reduction in borrowings.

Loans receivable, before allowance for credit losses, were $6.18 billion at March 31, 2024, consistent with December 31, 2023. Loans held for sale, representing the guaranteed portion of SBA 7(a) loans, were $4.0 million at the end of the first quarter of 2024, down from $12.0 million at year-end 2023.

	As of (in thousands)															Percentage Change
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,			Q1-24			Q1-24
	2024			2023			2023			2023			2023			vs. Q4-23			vs. Q1-23
Loan Portfolio
Commercial real estate loans	$	3,878,677		$	3,889,739		$	3,773,015		$	3,738,325		$	3,784,176			-0.3	%		2.5	%
Residential/consumer loans		970,362			962,661			926,326			886,984			817,917			0.8	%		18.6	%
Commercial and industrial loans		774,851			747,819			728,792			753,456			778,149			3.6	%		-0.4	%
Equipment finance		553,950			582,215			592,652			586,406			600,216			-4.9	%		-7.7	%
Loans receivable		6,177,840			6,182,434			6,020,785			5,965,171			5,980,458			-0.1	%		3.3	%
Loans held for sale		3,999			12,013			11,767			7,293			3,652			-66.7	%		9.5	%
Total	$	6,181,839		$	6,194,447		$	6,032,552		$	5,972,464		$	5,984,110			-0.2	%		3.3	%
	As of
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,
	2024			2023			2023			2023			2023
Composition of Loan Portfolio
Commercial real estate loans		62.7	%		62.8	%		62.5	%		62.6	%		63.2	%
Residential/consumer loans		15.7	%		15.5	%		15.4	%		14.9	%		13.7	%
Commercial and industrial loans		12.5	%		12.1	%		12.1	%		12.6	%		13.0	%
Equipment finance		9.0	%		9.4	%		9.8	%		9.8	%		10.0	%
Loans receivable		99.9	%		99.8	%		99.8	%		99.9	%		99.9	%
Loans held for sale		0.1	%		0.2	%		0.2	%		0.1	%		0.1	%
Total		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%

New loan production was $234.0 million for the first quarter of 2024 at an average rate of 8.02%, while $86.3 million of loans paid-off during the quarter at an average rate of 7.60%.

Commercial real estate loan production for the first quarter of 2024 was $60.1 million. Commercial and industrial loan production was $50.8 million, SBA loan production was $30.8 million, equipment finance production was $39.2 million, and residential mortgage loan production was $53.1 million.

	For the Three Months Ended (in thousands)
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,
	2024			2023			2023			2023			2023
New Loan Production
Commercial real estate loans	$	60,085		$	178,157		$	106,151		$	40,989		$	75,528
Commercial and industrial loans		50,789			52,079			67,907			36,322			27,055
SBA loans		30,817			48,432			36,109			30,926			34,472
Equipment finance		39,155			57,334			71,075			50,905			69,307
Residential/consumer loans		53,115			53,465			55,026			100,161			97,201
subtotal		233,961			389,467			336,268			259,303			303,563
Payoffs		(86,250	)		(77,961	)		(62,140	)		(120,609	)		(124,923	)
Amortization		(90,711	)		(106,610	)		(116,411	)		(102,248	)		(102,675	)
Loan sales		(55,321	)		(29,861	)		(22,496	)		(20,933	)		(30,002	)
Net line utilization		(4,150	)		(11,609	)		(70,238	)		(28,092	)		(30,401	)
Charge-offs & OREO		(2,123	)		(1,777	)		(9,369	)		(2,708	)		(2,237	)
Loans receivable-beginning balance		6,182,434			6,020,785			5,965,171			5,980,458			5,967,133
Loans receivable-ending balance	$	6,177,840		$	6,182,434		$	6,020,785		$	5,965,171		$	5,980,458

Deposits were $6.38 billion at the end of the first quarter of 2024, up $95.5 million, or 1.5%, from $6.28 billion at the end of the preceding quarter. Driving the change was a $125.2 million increase in money market and savings deposits and a $40.9 million increase in time deposits, partially offset by a $70.5 million decline in noninterest-bearing demand deposits. Noninterest-bearing demand deposits represented 30.3% of total deposits at March 31, 2024 and the loan-to-deposit ratio was 96.9%.

	As of (in thousands)															Percentage Change
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,			Q1-24			Q1-24
	2024			2023			2023			2023			2023			vs. Q4-23			vs. Q1-23
Deposit Portfolio
Demand: noninterest-bearing	$	1,933,060		$	2,003,596		$	2,161,238		$	2,206,078		$	2,334,083			-3.5	%		-17.2	%
Demand: interest-bearing		87,374			87,452			88,133			97,076			104,245			-0.1	%		-16.2	%
Money market and savings		1,859,865			1,734,658			1,576,006			1,580,691			1,382,472			7.2	%		34.5	%
Time deposits		2,495,761			2,454,868			2,434,695			2,431,923			2,380,238			1.7	%		4.9	%
Total deposits	$	6,376,060		$	6,280,574		$	6,260,072		$	6,315,768		$	6,201,038			1.5	%		2.8	%
	As of
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,
	2024			2023			2023			2023			2023
Composition of Deposit Portfolio
Demand: noninterest-bearing		30.3	%		31.9	%		34.5	%		34.9	%		37.6	%
Demand: interest-bearing		1.4	%		1.4	%		1.4	%		1.5	%		1.7	%
Money market and savings		29.2	%		27.6	%		25.2	%		25.0	%		22.3	%
Time deposits		39.1	%		39.1	%		38.9	%		38.6	%		38.4	%
Total deposits		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%

Stockholders’ equity at March 31, 2024 was $703.1 million, up $1.2 million from $701.9 million at December 31, 2023. First quarter net income, net of dividends paid, added $7.5 million to stockholders’ equity for the period. This addition was offset by a $3.4 million increase in unrealized after-tax losses on securities available for sale due to changes in interest rates during the first quarter and a $1.6 million increase in unrealized after-tax losses on cash flow hedges. In addition, Hanmi repurchased 100,000 shares of common stock during the quarter at an average share price of $15.92. At March 31, 2024, 309,972 shares remain under Hanmi’s share repurchase program. Tangible common stockholders’ equity was $692.0 million, or 9.23% of tangible assets, at March 31, 2024, compared with $690.8 million, or 9.14% of tangible assets at the end of the fourth quarter of 2023.

Hanmi and the Bank exceeded minimum regulatory capital requirements, and the Bank continues to exceed the minimum for the “well capitalized” category. At March 31, 2024, Hanmi’s preliminary common equity tier 1 capital ratio was 12.05% and its total risk-based capital ratio was 15.20%, compared with 11.86% and 14.95%, respectively, at the end of the fourth quarter of 2023.

	As of															Ratio Change
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,			Q1-24		Q1-24
	2024			2023			2023			2023			2023			vs. Q4-23		vs. Q1-23
Regulatory Capital ratios (1)
Hanmi Financial
Total risk-based capital		15.20	%		14.95	%		15.07	%		15.11	%		14.80	%		0.25		0.40
Tier 1 risk-based capital		12.40	%		12.20	%		12.30	%		12.25	%		11.94	%		0.20		0.46
Common equity tier 1 capital		12.05	%		11.86	%		11.95	%		11.90	%		11.59	%		0.19		0.46
Tier 1 leverage capital ratio		10.36	%		10.37	%		10.27	%		10.22	%		10.09	%		-0.01		0.27
Hanmi Bank
Total risk-based capital		14.50	%		14.27	%		14.42	%		14.45	%		14.15	%		0.23		0.35
Tier 1 risk-based capital		13.44	%		13.26	%		13.42	%		13.39	%		13.06	%		0.18		0.38
Common equity tier 1 capital		13.44	%		13.26	%		13.42	%		13.39	%		13.06	%		0.18		0.38
Tier 1 leverage capital ratio		11.29	%		11.32	%		11.25	%		11.21	%		11.06	%		-0.03		0.23
(1)       Preliminary ratios for March 31, 2024

Asset Quality
Loans 30 to 89 days past due and still accruing were 0.26% of loans at the end of the first quarter of 2024, compared with 0.17% at the end of the prior quarter.

Criticized loans totaled $86.0 million at the end of the first quarter, down from $96.7 million at the end of the fourth quarter of 2023. Special mention loans were $62.3 million at the end of the first quarter, down from $65.3 million at December 31, 2023. Reductions in special mention loans included upgrades to pass of $1.5 million, paydowns and payoffs of $1.4 million and downgrades of $0.8 million. The quarter-over-quarter change also included increases from downgrades of $0.7 million of pass loans.

Classified loans were $23.7 million at March 31, 2024, down from $31.4 million at the end of the prior quarter. The $7.7 million decrease was primarily driven by payoffs of $7.3 million, charge-offs of $1.9 million, and paydowns and amortization of $2.1 million. New downgrades to classified loans of $3.6 million partially offset the decrease.

Nonperforming loans were $14.0 million at March 31, 2024, down from $15.5 million at the end of the prior quarter. As a percentage of the loan portfolio, nonperforming loans improved to 0.23% at quarter-end, from 0.25% at the end of the fourth quarter of 2023.

Nonperforming assets were $14.1 million at the end of the first quarter of 2024, down from $15.6 million at the end of the prior quarter. As a percentage of total assets, nonperforming assets also improved to 0.19% at quarter-end, from 0.21% at the end of the fourth quarter of 2023.

Gross charge-offs for the first quarter of 2024 were $2.1 million, compared with $1.8 million for the preceding quarter. Recoveries of previously charged-off loans for the first quarter of 2024 were $0.5 million, compared with $6.8 million of recoveries for the prior quarter, which included a $6.0 million recovery from a 2019 troubled loan relationship. As a result, there were net charge-offs of $1.6 million for the first quarter of 2024, compared to net recoveries of $5.0 million for the prior quarter.

The allowance for credit losses was $68.3 million at March 31, 2024, compared with $69.5 million at December 31, 2023. Specific allowances for loans increased $1.9 million while the allowance for quantitative and qualitative considerations decreased $3.1 million. The ratio of the allowance for credit losses to loans was 1.11% at the end of the first quarter, compared with 1.12% at December 31, 2023.

	As of or for the Three Months Ended (in thousands)															Amount Change
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,			Q1-24			Q1-24
	2024			2023			2023			2023			2023			vs. Q4-23			vs. Q1-23
Asset Quality Data and Ratios
Delinquent loans:
Loans, 30 to 89 days past due and still accruing	$	15,839		$	10,263		$	9,545		$	13,749		$	15,377		$	5,576		$	462
Delinquent loans to total loans		0.26	%		0.17	%		0.16	%		0.23	%		0.26	%		0.09			-0.00
Criticized loans:
Special mention	$	62,317		$	65,314		$	76,473		$	44,632		$	64,340		$	(2,997	)	$	(2,023	)
Classified		23,670			31,367			33,134			38,840			47,288			(7,697	)		(23,618	)
Total criticized loans	$	85,987		$	96,681		$	109,607		$	83,472		$	111,628		$	(10,694	)	$	(25,641	)
Nonperforming assets:
Nonaccrual loans	$	14,025		$	15,474		$	15,783		$	22,178		$	20,050		$	(1,449	)	$	(6,025	)
Loans 90 days or more past due and still accruing		-			-			-			-			-			-			-
Nonperforming loans		14,025			15,474			15,783			22,178			20,050			(1,449	)		(6,025	)
Other real estate owned, net		117			117			117			117			117			-			-
Nonperforming assets*	$	14,142		$	15,591		$	15,900		$	22,295		$	20,167		$	(1,449	)	$	(6,025	)
Nonperforming assets to assets*		0.19	%		0.21	%		0.22	%		0.30	%		0.27	%		-0.02			-0.08
Nonperforming loans to total loans		0.23	%		0.25	%		0.26	%		0.37	%		0.34	%		-0.02			-0.11
* Excludes repossessed personal property of $1.3 million, $1.3 million, $1.3 million, $0.8 million, and $0.6 million as of Q1-24, Q4-23, Q3-23, Q2-23, and Q1-23, respectively
	As of or for the Three Months Ended (in thousands)
	Mar 31,			Dec 31,			Sep 30,			Jun 30,			Mar 31,
	2024			2023			2023			2023			2023
Allowance for credit losses:
Balance at beginning of period	$	69,462		$	67,313		$	71,024		$	72,249		$	71,523
Credit loss expense (recovery) on loans		404			(2,880	)		5,167			514			2,181
Net loan (charge-offs) recoveries		(1,596	)		5,029			(8,878	)		(1,739	)		(1,455	)
Balance at end of period	$	68,270		$	69,462		$	67,313		$	71,024		$	72,249
Net loan charge-offs (recoveries) to average loans (1)		0.10	%		-0.33	%		0.60	%		0.12	%		0.10	%
Allowance for credit losses to loans		1.11	%		1.12	%		1.12	%		1.19	%		1.21	%
Allowance for credit losses related to off-balance sheet items:
Balance at beginning of period	$	2,474		$	2,463		$	2,476		$	3,067		$	3,115
Credit loss expense (recovery) on off-balance sheet items		(177	)		11			(13	)		(591	)		(48	)
Balance at end of period	$	2,297		$	2,474		$	2,463		$	2,476		$	3,067
Unused commitments to extend credit	$	792,769		$	813,960		$	848,886		$	791,818		$	924,371
(1)       Annualized

Corporate Developments
On January 25, 2024, Hanmi’s Board of Directors declared a cash dividend on its common stock for the 2024 first quarter of $0.25 per share. Hanmi paid the dividend on February 22, 2024, to stockholders of record as of the close of business on February 5, 2024.

Earnings Conference Call        
Hanmi Bank will host its first quarter 2024 earnings conference call today, April 23, 2024, at 2:00 p.m. PST (5:00 p.m. EST) to discuss these results. This call will also be webcast. To access the call, please dial 1-877-407-9039 before 2:00 p.m. PST, using access code Hanmi Bank. To listen to the call online, either live or archived, please visit Hanmi’s Investor Relations website at https://investors.hanmi.com/ where it will also be available for replay approximately one hour following the call.

About Hanmi Financial Corporation
Headquartered in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic communities through its network of 35 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, including 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) Santarosa
Senior Executive Vice President & Chief Financial Officer
213-427-5636

Lisa Fortuna
Investor Relations
Financial Profiles, Inc.
lfortuna@finprofiles.com
310-622-8251

Hanmi Financial Corporation and Subsidiaries
Consolidated Balance Sheets (Unaudited)
(Dollars in thousands)

	March 31,			December 31,			Percentage		March 31,			Percentage
	2024			2023			Change		2023			Change
Assets
Cash and due from banks	$	256,038		$	302,324		-15.3	%	$	386,201		-33.7	%
Securities available for sale, at fair value		872,190			865,739		0.7	%		878,701		-0.7	%
Loans held for sale, at the lower of cost or fair value		3,999			12,013		-66.7	%		3,652		9.5	%
Loans receivable, net of allowance for credit losses		6,109,570			6,112,972		-0.1	%		5,908,209		3.4	%
Accrued interest receivable		23,032			23,371		-1.5	%		19,004		21.2	%
Premises and equipment, net		21,952			21,959		-0.0	%		22,625		-3.0	%
Customers' liability on acceptances		161			625		-74.2	%		41		292.7	%
Servicing assets		6,890			7,070		-2.5	%		7,541		-8.6	%
Goodwill and other intangible assets, net		11,074			11,099		-0.2	%		11,193		-1.1	%
Federal Home Loan Bank ("FHLB") stock, at cost		16,385			16,385		0.0	%		16,385		0.0	%
Bank-owned life insurance		56,639			56,335		0.5	%		55,814		1.5	%
Prepaid expenses and other assets		134,116			140,449		-4.5	%		124,764		7.5	%
Total assets	$	7,512,046		$	7,570,341		-0.8	%	$	7,434,130		1.0	%
Liabilities and Stockholders' Equity
Liabilities:
Deposits:
Noninterest-bearing	$	1,933,060		$	2,003,596		-3.5	%	$	2,334,083		-17.2	%
Interest-bearing		4,443,000			4,276,978		3.9	%		3,866,955		14.9	%
Total deposits		6,376,060			6,280,574		1.5	%		6,201,038		2.8	%
Accrued interest payable		38,007			39,306		-3.3	%		20,512		85.3	%
Bank's liability on acceptances		161			625		-74.2	%		41		292.7	%
Borrowings		172,500			325,000		-46.9	%		350,000		-50.7	%
Subordinated debentures		130,165			130,012		0.1	%		129,558		0.5	%
Accrued expenses and other liabilities		92,053			92,933		-0.9	%		70,816		30.0	%
Total liabilities		6,808,946			6,868,450		-0.9	%		6,771,965		0.5	%
Stockholders' equity:
Common stock		34			34		0.0	%		33		3.0	%
Additional paid-in capital		587,687			586,912		0.1	%		584,884		0.5	%
Accumulated other comprehensive income		(76,890	)		(71,928	)	-6.9	%		(79,059	)	2.7	%
Retained earnings		326,526			319,048		2.3	%		283,910		15.0	%
Less treasury stock		(134,257	)		(132,175	)	-1.6	%		(127,603	)	-5.2	%
Total stockholders' equity		703,100			701,891		0.2	%		662,165		6.2	%
Total liabilities and stockholders' equity	$	7,512,046		$	7,570,341		-0.8	%	$	7,434,130		1.0	%

Hanmi Financial Corporation and Subsidiaries
Consolidated Statements of Income (Unaudited)
(Dollars in thousands, except share and per share data)

	Three Months Ended
	March 31,		December 31,			Percentage		March 31,		Percentage
	2024		2023			Change		2023		Change
Interest and dividend income:
Interest and fees on loans receivable	$	91,674	$	89,922		1.9	%	$	80,923	13.3	%
Interest on securities		4,955		4,583		8.1	%		4,025	23.1	%
Dividends on FHLB stock		361		341		5.9	%		289	24.9	%
Interest on deposits in other banks		2,604		2,337		11.4	%		2,066	26.0	%
Total interest and dividend income		99,594		97,183		2.5	%		87,303	14.1	%
Interest expense:
Interest on deposits		45,638		40,277		13.3	%		25,498	79.0	%
Interest on borrowings		1,655		2,112		-21.6	%		2,369	-30.1	%
Interest on subordinated debentures		1,646		1,654		-0.5	%		1,583	4.0	%
Total interest expense		48,939		44,043		11.1	%		29,450	66.2	%
Net interest income before credit loss expense		50,655		53,140		-4.7	%		57,853	-12.4	%
Credit loss expense (recovery)		227		(2,870	)	-107.9	%		2,133	-89.4	%
Net interest income after credit loss expense		50,428		56,010		-10.0	%		55,720	-9.5	%
Noninterest income:
Service charges on deposit accounts		2,450		2,391		2.5	%		2,579	-5.0	%
Trade finance and other service charges and fees		1,414		1,245		13.6	%		1,258	12.4	%
Gain on sale of Small Business Administration ("SBA") loans		1,482		1,448		2.3	%		1,869	-20.7	%
Other operating income		2,387		1,596		49.6	%		2,630	-9.2	%
Total noninterest income		7,733		6,680		15.8	%		8,336	-7.2	%
Noninterest expense:
Salaries and employee benefits		21,585		20,062		7.6	%		20,610	4.7	%
Occupancy and equipment		4,537		4,604		-1.5	%		4,412	2.8	%
Data processing		3,551		3,487		1.8	%		3,253	9.2	%
Professional fees		1,893		1,977		-4.2	%		1,335	41.8	%
Supplies and communications		601		613		-2.0	%		676	-11.1	%
Advertising and promotion		907		990		-8.4	%		833	8.9	%
Other operating expenses		3,371		3,478		-3.1	%		1,672	101.6	%
Total noninterest expense		36,445		35,211		3.5	%		32,791	11.1	%
Income before tax		21,716		27,479		-21.0	%		31,265	-30.5	%
Income tax expense		6,552		8,846		-25.9	%		9,274	-29.4	%
Net income	$	15,164	$	18,633		-18.6	%	$	21,991	-31.0	%
Basic earnings per share:	$	0.50	$	0.61				$	0.72
Diluted earnings per share:	$	0.50	$	0.61				$	0.72
Weighted-average shares outstanding:
Basic		30,119,646		30,189,578					30,347,325
Diluted		30,119,646		30,251,315					30,430,745
Common shares outstanding		30,276,358		30,368,655					30,555,287

Hanmi Financial Corporation and Subsidiaries
Average Balance, Average Yield Earned, and Average Rate Paid (Unaudited)
(Dollars in thousands)

	Three Months Ended
	March 31, 2024							December 31, 2023							March 31, 2023
				Interest		Average					Interest		Average					Interest		Average
	Average			Income /		Yield /		Average			Income /		Yield /		Average			Income /		Yield /
	Balance			Expense		Rate		Balance			Expense		Rate		Balance			Expense		Rate
Assets
Interest-earning assets:
Loans receivable (1)	$	6,137,888		$	91,674	6.00	%	$	6,071,644		$	89,922	5.88	%	$	5,944,399		$	80,923	5.51	%
Securities (2)		969,520			4,955	2.07	%		961,551			4,582	1.93	%		980,712			4,025	1.67	%
FHLB stock		16,385			361	8.87	%		16,385			341	8.25	%		16,385			289	7.16	%
Interest-bearing deposits in other banks		201,724			2,604	5.19	%		181,140			2,338	5.12	%		192,902			2,066	4.34	%
Total interest-earning assets		7,325,517			99,594	5.47	%		7,230,720			97,183	5.34	%		7,134,398			87,303	4.96	%
Noninterest-earning assets:
Cash and due from banks		58,382							61,146							65,088
Allowance for credit losses		(69,106	)						(68,319	)						(71,452	)
Other assets		244,700							251,660							239,121
Total assets	$	7,559,493						$	7,475,207						$	7,367,155
Liabilities and Stockholders' Equity
Interest-bearing liabilities:
Deposits:
Demand: interest-bearing	$	86,401		$	30	0.14	%	$	86,679		$	29	0.13	%	$	109,391		$	29	0.11	%
Money market and savings		1,815,085			16,553	3.67	%		1,669,973			14,379	3.42	%		1,453,569			7,315	2.04	%
Time deposits		2,507,830			29,055	4.66	%		2,417,803			25,869	4.24	%		2,223,615			18,154	3.31	%
Total interest-bearing deposits		4,409,316			45,638	4.16	%		4,174,455			40,277	3.83	%		3,786,575			25,498	2.73	%
Borrowings		162,418			1,655	4.10	%		205,951			2,113	4.07	%		268,056			2,369	3.58	%
Subordinated debentures		130,088			1,646	5.06	%		129,933			1,653	5.09	%		129,483			1,583	4.89	%
Total interest-bearing liabilities		4,701,822			48,939	4.19	%		4,510,339			44,043	3.88	%		4,184,114			29,450	2.85	%
Noninterest-bearing liabilities and equity:
Demand deposits: noninterest-bearing		1,921,189							2,025,212							2,324,413
Other liabilities		164,524							177,321							127,112
Stockholders' equity		771,958							762,335							731,516
Total liabilities and stockholders' equity	$	7,559,493						$	7,475,207						$	7,367,155
Net interest income (tax equivalent basis)				$	50,655						$	53,140						$	57,853
Cost of deposits						2.90	%						2.58	%						1.69	%
Net interest spread (taxable equivalent basis)						1.28	%						1.47	%						2.10	%
Net interest margin (taxable equivalent basis)						2.78	%						2.92	%						3.28	%
(1)    Includes average loans held for sale
(2)    Income calculated on a fully taxable equivalent basis using the federal tax rate in effect for the periods presented.

Non-GAAP Financial Measures

Tangible Common Equity to Tangible Assets Ratio

Tangible common equity to tangible assets ratio is supplemental financial information determined by a method other than in accordance with U.S. generally accepted accounting principles (“GAAP”). This non-GAAP measure is used by management in the analysis of Hanmi’s capital strength. Tangible common equity is calculated by subtracting goodwill and other intangible assets from stockholders’ equity. Banking and financial institution regulators also exclude goodwill and other intangible assets from stockholders’ equity when assessing the capital adequacy of a financial institution. Management believes the presentation of this financial measure excluding the impact of these items provides useful supplemental information that is essential to a proper understanding of the capital strength of Hanmi. This disclosure should not be viewed as a substitute for results determined in accordance with GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.

The following table reconciles this non-GAAP performance measure to the GAAP performance measure for the periods indicated:

Tangible Common Equity to Tangible Assets Ratio (Unaudited)
(In thousands, except share, per share data and ratios)

	March 31,			December 31,			September 30,			June 30,			March 31,
Hanmi Financial Corporation	2024			2023			2023			2023			2023
Assets	$	7,512,046		$	7,570,341		$	7,350,140		$	7,344,924		$	7,434,130
Less goodwill and other intangible assets		(11,074	)		(11,099	)		(11,131	)		(11,162	)		(11,193	)
Tangible assets	$	7,500,972		$	7,559,242		$	7,339,009		$	7,333,762		$	7,422,937
Stockholders' equity (1)	$	703,100		$	701,891		$	663,359		$	668,560		$	662,165
Less goodwill and other intangible assets		(11,074	)		(11,099	)		(11,131	)		(11,162	)		(11,193	)
Tangible stockholders' equity (1)	$	692,026		$	690,792		$	652,228		$	657,398		$	650,972
Stockholders' equity to assets		9.36	%		9.27	%		9.03	%		9.10	%		8.91	%
Tangible common equity to tangible assets (1)		9.23	%		9.14	%		8.89	%		8.96	%		8.77	%
Common shares outstanding		30,276,358			30,368,655			30,410,582			30,485,788			30,555,287
Tangible common equity per common share	$	22.86		$	22.75		$	21.45		$	21.56		$	21.30
(1)       There were no preferred shares outstanding at the periods indicated.

EX-99.2

Exhibit 99.2

1Q24 Earnings Supplemental Presentation April 23, 2024 Los Angeles New York/ New Jersey Virginia Chicago Dallas Houston San Francisco San Diego

Hanmi Financial Corporation (the “Company”) cautions investors that any statements contained herein that are not historical facts are forward - looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995 , including, but not limited to, those statements regarding operating and financial performance, financial position and liquidity, business strategies, regulatory, economic and competitive outlook, investment and expenditure plans, capital and financing needs and availability, litigation, plans and objectives, merger or sale activity, financial condition and results of operations, and all other forecasts and statements of expectation or assumption underlying any of the foregoing . These statements involve known and unknown risks and uncertainties that are difficult to predict . Investors should not rely on any forward - looking statement and should consider risks, such as changes in governmental policy, legislation and regulations, economic uncertainty and changes in economic conditions, inflation, the continuing impact of the COVID - 19 pandemic on our business and results of operations, fluctuations in interest rate and credit risk, competitive pressures, the ability to succeed in new markets, balance sheet management, liquidity and sources of funding, the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio, increased assessments by the Federal Deposit Insurance Corporation, risk of natural disasters, a failure in or breach of our operational or security systems or infrastructure, including cyberattacks, the adequacy of and changes in the methodology of calculating our allowance for credit losses, and other operational factors . Forward - looking statements are based upon the good faith beliefs and expectations of management as of this date only and are further subject to additional risks and uncertainties, including, but not limited to, the risk factors set forth in our earnings release dated January 23 , 2024 , including the section titled “Forward Looking Statements” and the Company’s most recent Form 10 - K, 10 - Q and other filings with the Securities and Exchange Commission (“SEC”) . The Company disclaims any obligation to update or revise the forward - looking statements herein . 2 Forward - Looking Statements

This presentation contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”) . These non - GAAP measures include tangible common equity to tangible assets, and tangible common equity per share . Management uses these “non - GAAP” measures in its analysis of the Company’s performance . Management believes these non - GAAP financial measures allow for better comparability of period to period operating performance . Additionally, the Company believes this information is utilized by regulators and market analysts to evaluate a company’s financial condition and therefore, such information is useful to investors . These disclosures should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non - GAAP performance measures that may be presented by other companies . A reconciliation of the non - GAAP measures used in this presentation to the most directly comparable GAAP measures is provided in the Appendix to this presentation . 3 Non - GAAP Financial Information

1Q24 Highlights Diluted EPS $0.50 ROAA 0.81% NIM 2.78% Efficiency Ratio 62.42% TBVPS (1) $22.86 Net Income $15.2M • Net income was $15.2 million, or $0.50 per diluted share, down 18.6% from $18.6 million, or $0.61 per diluted share, for the prior quarter » Net interest income was $50.7 million, down 4.7% from the prior quarter » Noninterest income was $7.7 million, up 15.8% from the prior quarter » Noninterest expense was $36.4 million, up 3.5% from the prior quarter » Efficiency ratio was 62.42%, compared with 58.86% for the prior quarter • Loans receivable were $6.18 billion, consistent with the prior quarter » Loan production was $234.0 million with a weighted average interest rate of 8.02% • Deposits were $6.38 billion, up 1.5% from the prior quarter, with noninterest - bearing demand deposits representing 30.3% of total deposits » Cost of interest - bearing deposits was 4.16%, up 33 basis points from the prior quarter • Credit loss expense was $0.2 million; allowance for credit losses to loans was 1.11% at March 31, 2024 • Tangible common equity to tangible assets (1) was 9.23%, Common equity tier 1 capital ratio was 12.05% and total capital ratio was 15.20% ROAE 7.90% (1) Non - GAAP financial measure; refer to the non - GAAP reconciliation slide 4

32% 46% 23% 9% 25% 11% 16% 21% 20% $303.6 11% 32% $259.3 12% 39% 20% 13% 16% $336.3 $389.5 12% 14% 15% 13% $234.0 12% 23% 17% 22% 26% 1Q23 2Q23 3Q23 4Q23 CRE C&I Equipment Finance RRE (1) 1Q24 SBA (2,3) 7.19% 7.39% 7.80% 8.10% 8.02% Loan Production • Commercial real estate loan production was $60.1 million and Residential mortgage (1) loan production was $53.1 million. • Commercial and industrial loan production was $50.8 million and equipment finance production was $39.2 million for the first quarter. • SBA (2,3) loan production was $30.8 million for the first quarter. Loan production of $234 million for 1Q24 reflected balanced contribution from nearly all business lines, and an 8 basis point decrease in the weighted average interest rate on new production. Weighted average interest rate on new production (1) Residential mortgage includes $2.0 million, $0.0, $0.0, $0.0, and $0.3 million of consumer loans for 1Q23, 2Q23, 3Q23, 4Q23, and 1Q24, respectively (2) $34.5 million, $30.9 million, $36.1 million, $48.4 million, and $30.8 million of SBA loan production includes $22.6 million, $19.4 million, $17.6 million, $20.2 million, and $12.2 million of loans secured by CRE and the remainder representing C&I as of 1Q23, 2Q23, 3Q23, 4Q23, and 1Q24, respectively (3) Production includes purchases of guaranteed SBA loans of $9.7 million, and $10.2 million for 4Q23, and 1Q24, respectively 5 ($ in millions)

Loan Portfolio Commercial Real Estate (CRE) (1,2) Portfolio $3,879 Outstanding ($ in millions) 5.70% 1Q24 Average Yield $6.2 Billion Loan Portfolio (as of March 31, 2024) C&I - 12% 6 Equipment Finance - 9% CRE (2) Multifamily 154 # of Loans 55.0% Weighted Average Loan - to - Value Ratio (4) 1.58x Weighted Average Debt Coverage Ratio (4) CRE (2) Investor (non - owner) 871 # of Loans 49.8% Weighted Average Loan - to - Value Ratio (4) 2.07x Weighted Average Debt Coverage Ratio (4) CRE (2) Owner Occupied 732 # of Loans 47.1% Weighted Average Loan - to - Value Ratio (4) 2.71x Weighted Average Debt Coverage Ratio (4) Residential Real Estate (RRE) (3) Portfolio $970 Outstanding ($ in millions) 5.17% 1Q24 Average Yield Commercial & Industrial (C&I) (1) Portfolio $775 Outstanding ($ in millions) 8.90% 1Q24 Average Yield Equipment Finance Portfolio $554 Outstanding ($ in millions) 5.93% 1Q24 Average Yield Note: Numbers may not add due to rounding (1) Includes syndicated loans of $294.1 million in total commitments ($237.2 million disbursed) across C&I ($229.7 million committed and $172.8 million disbursed) and CRE ($64.4 million committed and disbursed) (2) Commercial Real Estate (CRE) is a combination of Investor (non - owner), Owner Occupied, Multifamily, and Construction. Investor (or non - owner occupied) property is where the investor does not occupy the property. The primary source of repayment stems from the rental income associated with the respective properties. Owner occupied property is where the borrower owns the property and also occupies it. The primary source of repayment is the cash flow from the ongoing operations and activities conducted by the borrower/owner. Multifamily real estate is a residential property that has 5 or more housing units. (3) Residential real estate is a loan (mortgage) secured by a single family residence, including one to four units (duplexes, triplexes, and fourplexes). RRE also includes $1.5 million of HELOCs and $5.3 million in consumer loans (4) Weighted average DCR and weighted average LTV calculated when the loan was first underwritten or renewed subsequently (5) $51.3 million, or 12.3%, of the CRE multifamily loans are located in the rent - controlled New York City (2) CRE Construction - 2% (2,5) CRE Multifamily - 7% (2) CRE Owner - 12% CRE Investor (non - owner) (2) - 42% (3) RRE - 16%

Loan Portfolio Diversification Loan portfolio is well diversified across collateral and industry types; CRE represents 63% of the total portfolio and C&I, excluding Equipment Finance Agreements, represents 12%. CRE Portfolio (1) $3.9B C&I Portfolio (2) $775M Retail – 28% Hospitality – 19% Office – 15% Industrial – 10% Multifamily – 10% Gas Station – 6% Construction 3% Mixed Use – 3% Other – 6% Manufacturing - 26% 7 Finance & Insurance - 14% Wholesale Trade - 7% Retail Trade - 7% Healthcare - 7% Real Estate Rental & Leasing - 4% Other - 35% (1) $111.7 million, or 2.7%, of the CRE portfolio are unguaranteed SBA loans (2) $47.7 million, or 6.2%, and $28.8 million, or 3.7%, of the C&I portfolio are unguaranteed and guaranteed SBA loans, respectively

CRE Portfolio Geographical Exposure CRE Composition by State $3,879 Multifamily by State $417 Construction by State $106 Owner Occupied by State $767 Investor (Non - owner Occupied) by State $2,589 California – $2,573 67% Texas – $397 10% New York – $213 5% Illinois – $86 2% Other – $610 16% California – $206 50% Texas - $101 24% New York – $81 19% Illinois – $14 3% Other – $15 4% California – $64 60% New York – $18 17% Other – $24 23% California - $461 60% New York – $9 1% Texas – $43 6% Illinois – $15 2% Other – $239 31% California - $1,843 71% 8 Texas – $254 10% New York – $106 4% Illinois – $57 2% Other – $329 13% ($ in millions) ($ in millions)

Loan Portfolio Distribution CRE C&I ($ in millions) ($ in millions) Construction (1) Multifamily Non - owner Occupied Owner Occupied $106 $417 $2,589 $767 Total Balance $9.59 $2.71 $2.97 $1.05 Average $1.99 $1.09 $1.12 $0.33 Median $59 $302 $1,847 $579 (3) Top Quintile Balance $18.3 or more $2.5 or more $3.7 or more $1.2 or more Top Quintile Loan Size $29.55 $9.75 $10.74 $3.99 Top Quintile Average $29.55 $4.23 $6.87 $2.15 Top Quintile Median Lines of Credit (2) Term (2) $409 $366 Total Balance $0.68 $0.35 Average $0.05 $0.06 Median $358 $321 Top Quintile Balance (3) $0.6 or more $0.1 or more Top Quintile Loan Size $4.12 $1.57 Top Quintile Average $1.43 $0.26 Top Quintile Median Residential Real Estate & Equipment Finance 9 Equipment Finance Residential Real Estate $554 $970 Total Balance $0.05 $0.53 Average $0.03 $0.46 Median $283 $399 Top Quintile Balance (3) $0.1 or more $0.7 or more Top Quintile Loan Size $0.12 $1.11 Top Quintile Average $0.10 $0.91 Top Quintile Median ($ in millions) (1) Represents the total outstanding amount. Advances require authorization and disbursement requests, depending on the progress of the project and inspections. Advances are non - revolving and are made throughout the term, up to the original commitment amount (2) Term loans are a commitment for a specified term. Majority of the Lines of Credit are revolving, including commercial revolvers, with some non - revolvers (sub - notes and working capital tranches) (3) Top quintile represents top 20% of the loans

<1 Year 1 - 3 Years >3 Years Total Real estate loans $ 1,091.1 $ 629.4 $ 311.4 $ 150.3 Retail 740.2 313.3 193.2 233.7 Hospitality 575.8 178.7 342.6 54.5 Office 1,367.4 724.8 473.4 169.2 Other 3,774.5 1,846.2 1,320.6 607.7 Commercial Property 104.2 2.0 38.8 63.4 Construction 970.4 965.1 0.1 5.2 RRE / Consumer 4,849.0 2,813.3 1,359.5 676.3 Total Real Estate Loans 774.9 223.9 241.0 309.9 C&I (1) 554.0 318.0 203.6 32.3 Equipment Finance $ 6,177.8 $ 3,355.2 $ 1,804.1 $ 1,018.5 Loans receivable 10 Loan Portfolio Maturities ($ in millions) Note: numbers may not add due to rounding (1) $279.1 million of C&I are lines of credit expected to be renewed and maintain a maturity of less than one year

USKC (1) Loans & Deposits 30% 26% 19% 5% 3% 3% 3% 2% 2% 2% 5% Real Estate Investment Auto Part Manufacturer Hotel Food Education Electronics/Home Appliances Steel Golf Course Computer Equipment Transportation Other USKC portfolio represented $833.8 million in loans, or 14% of the loan portfolio and $847.5 million in deposits, or 13% of the deposit portfolio. USKC CRE portfolio had a weighted average debt coverage ratio (2) of 1.85x and weighted average loan - to - value (2) of 54.6%. USKC Loans – Top 10 Industries (as of 1Q24) $834 $764 $720 $732 $764 24% 20% 20% 23% 25% 76% 80% 80% 77% 75% 1Q24 4Q23 3Q23 2Q23 1Q23 USKC Loans by Product CRE C&I ($ in millions) USKC Deposits – Top 10 Industries (as of 1Q24) 22% Auto Part Manufacurer 12% Electronics/Home Appliances 12% Steel 7% RE Investment/Leasing 6% Food 5% All Other Financial Investment Activities 3% Research and Development 3% IT 3% Electrical Auto Parts 3% Foreign Financial Information 24% Other $848 $819 $795 $688 $565 62% 54% 49% 46% 32% 34% 41% 46% 49% 60% 1Q24 4Q23 3Q23 2Q23 1Q23 Demand Noninterest - bearing Money Market & Savings USKC Deposits by Product 11 ($ in millions) (1) U.S. subsidiaries of Korean Corporations (2) Weighted average DCR and weighted average LTV calculated when the loan was first underwritten or renewed subsequently (3) Time deposits, not illustrated, represent the remainder to add to 100%. (3)

Office Loan Portfolio The CRE office portfolio (1) was $575.8 million (3) at March 31, 2024, representing 9% of the total loan portfolio. 81% 12% 3% Remaining = 3% 1% Portfolio by State • Average balance and median balance of the portfolio were $4.5 million and $1.0 million, respectively • Weighted average debt coverage ratio (2) of the segment was 2.03x • Weighted average loan to value (2) of the segment was 56.29% • $57.9 million, or 10.1%, of the office loans are located in the Central Business District (CBD) (4) ; all are current with $52.4 million at an adjustable rate of interest and the remainder at a fixed rate of interest • No delinquent loans • Criticized loans represented 1.53% of the office portfolio Rate Distribution (1) Segment represents exposure in CRE and excludes $18.3 million in construction. 7.7% of the portfolio is owner occupied (2) Weighted average DCR and weighted average LTV calculated when the loan was first underwritten or renewed subsequently (3) SBA CRE office loans were $7.3 million, or 1.3% of total office loans, at March 31, 2024 (4) Central Business Districts (CBD) include Los Angeles and Minneapolis 66% 34% Fixed Variable 12

Resort – 6% 13 Airport – 7% Metropolitan – 52% (2) Destination / Suburban – 32% (2) Hospitality Segment Hospitality segment represented $740.2 million (3) , or 12% of the loan portfolio, at March 31, 2024. Convention Center – 3% (1) Weighted average DCR and weighted average LTV calculated when the loan was first underwritten or renewed subsequently (2) Metropolitan is categorized as a location that is in a major city and in proximity to downtown areas; destination is categorized as a hotel whose location/amenities make it a distinct tourist location; suburban is defined as areas outside of major city hubs and can include more rural areas (3) SBA loans in the hospitality segment were $19.4 million, or 2.6% of total hospitality loans, at March 31, 2024 • Average balance and median balance of the segment (excluding construction) were $3.9 million and $1.0 million, respectively • Weighted average debt coverage ratio (1) of the segment was 2.2x • Weighted average loan to value (1) of the segment was 51% • $1.9 million, or 0.26%, of the hospitality segment was criticized at March 31, 2024 • Segment includes two nonaccrual loans for $292 thousand - one in the metropolitan (2) area in Texas, and one in the suburban/destination areas in Tennessee

Retail Segment Retail segment represented $1.1 billion (2) , or 18% of the loan portfolio, at March 31, 2024. (1) Weighted average DCR and weighted average LTV calculated when the loan was first underwritten or renewed subsequently (2) SBA loans in the retail segment are $53.8 million, or 4.9% of total retail loans, at March 31, 2024 • Average balance and median balance of the segment were $1.5 million and $0.7 million, respectively • Weighted average debt coverage ratio (1) of the segment was 2.02x • Weighted average loan to value (1) of the segment was 47.30% • $8.0 million, or 0.73%, of the retail segment was criticized at March 31, 2024 • $0.6 million, or 0.05%, of the retail segment was on nonaccrual status at March 31, 2024 California 73% 14 Texas 13% Illinois 2% Georgia 3% Other 9%

Residential Real Estate Portfolio Jumbo Non - QM - 6% (2) QM - 2% (3) Non - QM - 92% Non - QM Jumbo Non - QM QM 15 The RRE (1) portfolio was $970.4 million at March 31, 2024, representing 16% of the total loan portfolio. Our conservative underwriting policy focuses on high - quality mortgage originations with maximum Loan - to - Value (LTV) ratios between 60% and 70%, maximum Debt - to - Income (DTI) ratios of 43% and minimum FICO scores of 680. (1) RRE includes $1.5 million of Home Equity Line of Credit (HELOC) and $5.3 million in consumer loans (2) QM loans conform to the Ability - to - Repay (ATR) rules/requirements of CFPB (3) Non - QM loans do not conform to the CFPB Dodd - Frank Act (4) Jumbo Non - QM loan amounts exceed FHFA limits, but generally conform to the ATR/QM rules • 26.9% of the Residential Real Estate portfolio is fixed and 73.1% is variable. Of the variable mortgage portfolio, 14.4% is expected to reset after 12 months and 85.6% within the next 12 months • Total delinquencies are 0.06% of the residential portfolio, consisting of 0.04% within 30 - 59 and 0.02% in 60 - 89 days delinquency categories (4)

Equipment Finance Portfolio Equipment finance portfolio represented $554.0 million, or 9% of the loan portfolio, at March 31, 2024. Transportation, 27% Construction, 15% Waste Management, 13% Manufacturing, 12% Professional Services, 6% Healthcare, 4% Wholesale Trade, 4% Retail Trade, 4% Other, (1) 15% 8% 7% 6% 5% 4% 3% Trucks Earth Moving Machine Tools Software Trailers General Construction Printing 3% Medical/Dental 3% Material Handling 25% Other 36% Portfolio by Industry Portfolio by Equipment Portfolio by State 14% 16 9% 4% 8% 6% 4% 3% 3% Remaining = 45% 4% (1) Other includes agriculture and other services of 3% and 3%, respectively

2.73% 3.25% 3.53% 3.83% 4.16% 2Q23 3Q23 4Q23 Average Balance of Interest - bearing Deposits Interest - bearing Deposit Costs $3,787 $3,966 $4,135 $4,174 $4,409 1Q23 1Q24 Deposit Base Noninterest - bearing demand deposits represented 30% of total deposits at March 31, 2024. Estimated uninsured deposit liabilities were 40% of the total deposit liabilities. Brokered deposits remained low, at less than 1% of the deposit base. Note: Numbers may not add due to rounding Deposits ($ in millions) Deposits (as of 1Q24) Average Interest - bearing Deposits ($ in millions) Business $3,283 51% Personal $3,093 49% ($ in millions) 38% 32% 30% 2% 1% 1% 22% 25% 25% 1% 2% 35% 35% 28% 29% $6,37 $6,281 $6,260 $6,316 $6,201 24% 23% 23% 21% 21% 16% 16% 16% 17% 17% 6 1Q23 2Q23 3Q23 4Q23 1Q24 Time <= $250K Money Market & Savings Demand Noninterest - bearing Time > $250K Demand Interest - bearing 17

Net Interest Income | Net Interest Margin Net interest income for the first quarter was $50.7 million and net interest margin (taxable equivalent) was 2.78%, both down from the previous quarter due to the higher cost of interest - bearing deposits. ($ in millions) 2.92% 0.10% 0.03% - 0.30% 0.03% 2.78% 4Q23 Loans Other earning assets IB - deposits FHLB Borrowings & other IB liabilities Decrease 1Q24 NIM Increase $57.9 $55.4 $54.9 $53.1 $50.7 3.28% 3.11% 3.03% 2.92% 2.78% 1Q23 2Q23 3Q23 4Q23 1Q24 Net Interest Income NIM 18

Net Interest Income Sensitivity 28% of the loan portfolio reprices within 1 - 3 months. $123.2 $357.5 $495.8 $764.8 $978.5 $321.1 $1,734.4 $140.1 $346.0 $337.3 $486.3 $452.4 $94.9 $1,857.6 $635.9 $1,110.8 $1,315.8 $807.4 ≤3 Months >3 - 5 Years >5 Years >3 - 12 Months >1 - 2 Years Fixed >2 - 3 Years Variable Loans – Months to Reset / Maturity (1) ( . $ in millions) Fed Funds Rate & Cost of CDs $75.1 $75.0 $13.2 $397.6 $503.2 $1,016.9 $402.4 $472.7 $578.2 $1,030.1 $402.4 4.44% 4.82% 4.98% 4.59% 2Q24 1Q25 3Q24 Wholesale 4Q24 Retail ($ in millions) 2Q23 3Q23 4Q23 Deposits – CD Maturities 5.00% 5.25% 5.50% 5.50% 5.50% 3.31% 3.70% 3.95% 4.24% 4.66% 1Q23 1Q24 Fed Funds Rate (3) Cost of CDs (2) Cost of CDs (4) Numbers may not add due to rounding (1) Includes loans held for sale (2) Cost of CDs and interest bearing - deposits for the month of March 2024 was 4.70% and 4.20%, respectively (3) Fed funds rate represent the rate at the end of the quarter (4) Represent weighted average contractual rates 19

43% $2.5 24% $1.4 12% $0.7 5% $0.3 16% $0.9 Service charges on deposit accounts Trade finance and other service charges and fees Servicing income Bank - owned life insurance All other operating income Noninterest Income SBA 7(a) Loan Production and Sales ($ in millions) $34.5 $30.9 $36.1 $48.4 $30.8 $29.7 $19.9 $21.0 $29.9 $25.6 7.85% 7.75% 6.84% 6.17% 7.23% 1Q23 2Q23 3Q23 SBA Loan Sales SBA Production 4Q23 1Q24 SBA Trade Premium Noninterest income for the first quarter was $7.7 million, up 16% from the previous quarter, which included a $0.4 million gain on the sale of mortgage loans in the first quarter. Noninterest Income 1Q24 Service Charges and Fees ($ in millions) ($ in millions) $6.5 $6.7 $5.3 $5.8 $1.9 $1.2 $1.2 $1.4 ($1.9) $8.3 $7.9 $1.9 $11.2 $6.7 $7.7 $0.4 $1.5 1Q23 2Q23 3Q23 4Q23 1Q24 (1) $10.0 Gain on sale of SBA loans Securities transactions Service charges, fees & other Gain of sale of mortgage loans Legal settlements Numbers may not add due to rounding (1) Includes $4.0 million gain on the sale - and - leaseback of bank premises 20

Noninterest Expense • Noninterest expense was $36.4 million in the first quarter, up 3.5% from the prior quarter • Noninterest expense over average assets for the first quarter was 1.94% compared with 1.87% for the prior quarter due to seasonally higher employer taxes and benefits. Continued focus on disciplined expense management. Noninterest expense / Average assets $20.6 $20.4 $20.4 $20.1 $21.6 $4.8 $1.9 $3.6 $4.5 $35.2 $34.2 $34.3 $32.8 $5.0 $3.9 $4.5 $3.2 $2.0 $1.6 $1.4 $1.3 $3.5 $3.5 $3.5 $3.3 $4.6 $4.8 $4.5 $4.4 $36.4 1.81% 1.87% 1.83% 1.87% 1.94% 4Q23 1Q24 Occupancy and equipment Professional Fees 1Q23 2Q23 3Q23 Salaries and employee benefits Data Processing All other expenses ($ in millions) 21

Asset Quality – Delinquent & Criticized Loans Delinquent loans / Total loans $47.3 $38.8 $33.1 $31.4 $23.7 $64.3 $44.6 $76.5 $65.3 $62.3 $111.6 $83.5 $109.6 $96.7 $86.0 1.87% 1.40% 1.82% 1.56% 1.39% 1Q23 2Q23 3Q23 4Q23 1Q24 Classified Special Mention Delinquent Loans (1) Criticized Loans Criticized loans / Total loans Asset quality remains strong. $7.1 $7.0 $6.9 $8.0 $8.2 $8.3 $6.7 $7.6 $15.4 $13.7 $9.5 $2.6 $10.3 $2.3 $15.8 0.26% 0.23% 0.16% 0.17% 0.26% 1Q23 2Q23 3Q23 Equipment Finance Delinquent Loans 4Q23 1Q24 All Other Delinquent Loans ($ in millions) 22 ($ in millions) (1) Represents loans 30 to 89 days past due and still accruing

$20.1 $22.2 $15.8 $15.5 $14.0 $0.1 $0.1 $0.1 $0.1 $0.1 $20.2 $22.3 $15.9 $15.6 $14.1 4Q23 1Q24 1Q23 2Q23 3Q23 Nonperforming loans Note: Numbers may not add due to rounding OREO Asset Quality – Nonperforming Assets & Nonaccrual Loans 0.27% 0.30% 0.22% 0.21% 0.19% Nonperforming assets / Total assets Nonperforming Assets (1) Nonaccrual Loans Nonperforming assets were $14.1 million at the end of the first quarter, down from $15.6 million at the end of the fourth quarter of 2023. ($ in millions) ($ in millions) (1) Nonperforming assets exclude repossessed personal property of $0.6 million, $0.8 million, $1.3 million, $1.3 million, and $1.3 million for March 31, 2023, June 30, 2023, September 30, 2023, December 31, 2023, and March 31, 2024, respectively (2) Specific allowance for credit losses at March 31, 2023, June 30, 2023, September 30, 2023, December 31, 2023, and March 31, 2024 was $6.2 million, $7.4 million, $2.9 million, $3.4 million, and $5.3 million, respectively (3) RRE includes consumer loans $2.9 $0.5 $5.3 $3.0 $3.3 $3.2 $10.0 $10.0 $4.9 $4.9 $3.9 (2) $22.2 $15.8 $15.5 $14.0 $6.9 $7.3 $7.9 $6.9 $6.7 1Q24 4Q23 3Q23 2Q23 1Q23 Equipment Finance All other CRE and C&I < $3M RRE (3) All other CRE and C&I >= $3M 23 (2) (2) $20.1 (2) (2)

Asset Quality – Gross & Net Loan Charge - offs Gross Charge - offs Net Charge - offs Net Charge - offs / Average loans Net charge - offs for the first quarter were $1.6 million. ($ in millions) ($ in millions) $1.6 $2.6 $2.8 $1.8 $2.0 $6.6 $2.2 $0.6 $2.7 $0.1 $9.4 $1.8 $2.1 $0.1 1Q23 2Q23 3Q23 Equipment Finance Charge - offs 4Q23 1Q24 All Other Loan Charge - offs Note: Numbers may not add due to rounding $2.5 $1.2 $1.6 $2.3 ($0.6) $6.4 ($6.2) $1.5 $0.4 $1.1 $1.7 $8.9 ($5.0) 4Q23 1Q24 All Other Net Charge - offs $1.6 0.10% 0.12% 0.60% - 0.33% 0.10% 1Q23 2Q23 3Q23 Equipment Finance Net Charge - offs 24

ACL Trends Allowance for credit losses was $68.3 million as of March 31, 2024, or 1.11% to total loans, compared with $69.5 million and 1.12% at the end of the prior quarter. $72.2 $71.0 $67.3 $69.5 $68.3 1.21% 1.19% 1.12% 1.12% 1.11% 1Q23 2Q23 3Q23 4Q23 1Q24 Allowance for credit losses ACL to Loans ($0.1) $2.1 $5.2 $0.2 ($2.9) 4Q23 1Q23 2Q23 3Q23 1Q24 Credit loss recovery Credit loss expense Allowance for Credit Losses Credit Loss Expense (Recovery) 25 ($ in millions) ($ in millions)

ACL Analysis by Loan Type March 31, 2023 June 30, 2023 September 30, 2023 December 31, 2023 March 31, 2024 ($ in millions) Loans Allowance Loans Allowance Loans Allowance Loans Allowance Loans Allowance $ 3,784.2 $ 39.2 $ 3,738.3 $ 38.4 $ 3,773.0 $ 38.9 $ 3,889.7 $ 40.2 $ 3,878.5 $ 36.4 CRE 778.1 15.3 753.5 16.0 728.8 11.2 747.8 10.3 774.9 11.8 C&I 600.2 13.4 586.4 11.9 592.7 12.3 582.2 13.7 554.0 13.7 Equipment Finance 817.9 4.3 887.0 4.7 926.3 4.9 962.7 5.3 970.4 6.2 RRE & Consumer $ 5,980.5 $ 72.2 $ 5,965.2 $ 71.0 $ 6,020.8 $ 67.3 $ 6,182.4 $ 69.5 $ 6,177.8 $ 68.3 Total Note: Numbers may not add due to rounding 26

US Agy Residential MBS - Maturity 15 Year - 72% 20 Year - 18% 30 Year - 10% Securities Portfolio The $979 million securities portfolio (all AFS, no HTM) represented 13% of assets at March 31, 2024, and had a weighted average modified duration of 4.6 years with $106 million in an unrealized loss position. Principal Paydowns ($ in millions) $101 $157 $178 $147 $120 $19 $179 $22 $196 $18 $161 $14 2025 2026 Principal Interest Unrealized Loss UST - 1% US Agy - 7% US Agy MBS - Residential 62% US Agy MBS - Commercial - 12% US Agy CMO - 9% Municipal - 9% Available for Sale UST - 9% US Agy - 13% US Agy MBS - Residential - 51% US Agy MBS - Commerical - 6% US Agy CMO - 13 % Municipal - 8% $979 Million Securities Duration < 1 Year 7% 1 to 3 Year 20% 3 to 5 Years 38% > 5 Years 35% 4.6 Years $489 Million $106 Million (1) Based on the book value 2023 Actual (3) 2024 Projection consists of $157 million principal paydown and $22 million of interest payment. 1Q24 observed $31.7 million of principal paydown and $6.3 million of interest payment Note: Numbers may not add due to rounding 27 (2) 93% constitutes CRA bonds 2024 (3) (2) (1)

Balance 256 814 % of Assets 3.4% 10.8% Cash & cash equivalents $ Securities (unpledged) Liquid assets 1,070 14.2% FHLB available borrowing capacity FRB discount window borrowing capacity Federal funds lines (unsecured) available Liquid Assets to Total Liabilities 1,334 22 115 17.8% 0.3% 1.5% Secondary liquidity sources 1,471 19.6% Bank liquidity (liquid assets + secondary liquidity) $ 2,541 33.8% Liquidity The Bank and the Company have ample liquidity resources at March 31, 2024. (1) Rate at March 31, 2024, based on 3 - month SOFR + 166 bps (2) Issued in August 2021 and due in July 2031. Commencing on September 1, 2026, the interest rate will reset quarterly to the three - month SOFR + 310 bps Liquidity Position ($ in millions) 16.5% 15.5% 14.6% 14.9% 14.4% 19.7% 18.0% 16.2% 16.6% 16.8% 18.4% 17.3% 17.0% 17.9% 16.1% 1.3% 1.3% 1.2% 0.9% 0.7% 1Q23 2Q23 3Q23 4Q23 1Q24 Liquid Assets to Total Assets Liquid Assets to Deposits Broker Deposits to Deposits Liquidity Ratios 28 Par Amortized Cost 2036 Trust Preferred Securitites $ 27 $ 22 Rate 6.99% (1) (2) 3.75% 108 110 2031 Subordinated Debt $ 130 $ 137 Company only Subordinated Debentures ($ in millions) Cash & Securities at Company only ($ in millions) Balance Cash $ 7 Securities (AFS) 34 $ 41

(1) Non - GAAP financial measure, refer to the non - GAAP reconciliation slides (2) Rate at the end of the quarter Capital Management Tangible book value per share (TBVPS) (1) increased to $22.86 from $22.75 at the end of the prior quarter. The increase reflects $7.5 million of net income, net of cash dividends paid, offset by a $3.4 million increase in unrealized after - tax losses on AFS securities, a $1.6 million increase in unrealized after - tax losses on cash flow hedges, and $1.6 million of stock repurchases. 3.57% 4.16% 4.61% 3.85% 4.21% ($79.1) ($84.6) ($99.4) ($71.9) ($76.9) 1Q23 2Q23 3Q23 4Q23 1Q24 AOCI $21.30 $21.56 $21.45 $22.75 $22.86 8.77% 8.96% 8.89% 9.14% 9.23% 1Q23 2Q23 3Q23 4Q23 1Q24 (1) TBVPS TBVPS (1) & TCE/TA (1) AOCI & 5 - YR TSY 5 - YR TSY (2) TCE / TA ($ in millions) (1) 29

Regulatory Capital The Company exceeds regulatory minimums and the Bank remains well capitalized at March 31, 2024. 8.00% 6.00% 4.50% 2.50% 2.50% 2.50% 15.20% 12.40% 12.05% 14.04% 11.23% 10.88% 10.50% 8.50% 7.00% Minimum Requirement Company Capital Conservation Buffer (1) Pro Forma 10.00% 8.00% 6.50% 14.50% 13.44% 13.44% 13.34% 12.28% 12.28% Well Capitalized Bank Pro Forma 30 CET1 Capital Tier 1 Capital Total Capital Company Bank CET1 Capital Tier 1 Capital Total Capital (1) Pro forma illustrates capital ratios with unrealized loses at March 31, 2024. Non - GAAP financial measure; refer to the non - GAAP reconciliation slide (1)

Appendix 31

1Q24 Financial Summary Note: numbers may not add due to rounding (1) Percentage change calculated from dollars in thousands; change in basis points for profitability metrics (2) Non - GAAP financial measure, refer to the non - GAAP reconciliation slide $ 0.72 $ 0.61 $ 0.50 EPS - Diluted ($ in millions, except EPS) Change (1) March 31, 2024 December 31, 2023 March 31, 2023 Q/Q Y/Y Income Statement Summary - 12.4% - 4.7% $ 57.9 $ 53.1 $ 50.7 Net interest income - 7.2% 15.8% 8.3 6.7 7.7 Noninterest income - 11.8% - 2.4% 66.2 59.8 58.4 Operating revenue 11.1% 3.5% 32.8 35.2 36.4 Noninterest expense - 89.4% - 107.9% 2.1 (2.9) 0.2 Credit loss (recovery) expense - 30.5% - 21.0% 31.3 27.5 21.7 Pretax income - 29.4% - 25.9% 9.3 8.8 6.6 Income tax expense - 31.0% - 18.6% $ 22.0 $ 18.6 $ 15.2 Net income Selected balance sheet items 3.3% - 0.1% $ 5,980 $ 6,182 $ 6,178 Loans receivable 2.8% 1.5% 6,201 6,281 6,376 Deposits 1.0% - 0.8% 7,434 7,570 7,512 Total assets 6.2% 0.2% $ 662 $ 702 $ 703 Stockholders' equity Profitability Metrics (40) (18) 1.21% 0.99% 0.81% Return on average assets (429) (180) 12.19% 9.70% 7.90% Return on average equity 46 9 8.77% 9.14% 9.23% TCE/TA (2) (50) (14) 3.28% 2.92% 2.78% Net interest margin 1,288 356 49.54% 58.86% 62.42% Efficiency ratio 32

Non - GAAP Reconciliation: Tangible Common Equity to Tangible Asset Ratio 33 (1) There were no preferred shares outstanding at the periods indicated March 31, June 30, September 30, December 31, March 31, 2023 2023 2023 2023 2024 Hanmi Financial Corporation $ 7,434,130 $ 7,344,924 $ 7,350,140 $ 7,570,341 $ 7,512,046 Assets (11,193) (11,162) (11,131) (11,099) (11,074) Less goodwill and other intangible assets $ 7,422,937 $ 7,333,762 $ 7,339,009 $ 7,559,242 $ 7,500,972 Tangible assets $ 662,165 $ 668,560 $ 663,359 $ 701,891 $ 703,100 Stockholders' equity (1) (11,193) (11,162) (11,131) (11,099) (11,074) Less goodwill and other intangible assets $ 650,972 $ 657,398 $ 652,228 $ 690,792 $ 692,026 Tangible stockholders' equity (1) 8.91% 9.10% 9.03% 9.27% 9.36% Stockholders' equity to assets 8.77% 8.96% 8.89% 9.14% 9.23% Tangible common equity to tangible assets (1) 30,555,287 30,485,788 30,410,582 30,368,655 30,276,358 Common shares outstanding $ 21.30 $ 21.56 $ 21.45 $ 22.75 $ 22.86 Tangible common equity per common share ($ in thousands, except per share data)

Non - GAAP Reconciliation: Pro Forma Regulatory Capital 34 Note: numbers may not add due to rounding Bank Company ($ in thousands) Total Risk - based Tier 1 Common Equity Tier 1 Total Risk - based Tier 1 Common Equity Tier 1 $ 914,061 $ 847,409 $ 847,409 $ 958,173 $ 781,521 $ 759,752 Regulatory capital (75,470) (75,470) (75,470) (75,537) (75,537) (75,537) Unrealized losses on AFS securities $ 838,591 $ 771,939 $ 771,939 $ 882,636 $ 705,984 $ 684,215 Adjusted regulatory capital $ 6,304,153 $ 6,304,153 $ 6,304,153 $ 6,303,891 $ 6,303,891 $ 6,303,891 Risk weighted assets (17,823) (17,823) (17,823) (17,212) (17,212) (17,212) Risk weighted assets impact of unrealized losses on AFS securities $ 6,286,330 $ 6,286,330 $ 6,286,330 $ 6,286,679 $ 6,286,679 $ 6,286,679 Adjusted Risk weighted assets 14.50% 13.44% 13.44% 15.20% 12.40% 12.05% Regulatory capital ratio as reported - 1.16% - 1.16% - 1.16% - 1.16% - 1.17% - 1.17% Impact of unrealized losses on AFS securities 13.34% 12.28% 12.28% 14.04% 11.23% 10.88% Pro forma regulatory capital ratio

XML

Cover	Apr. 23, 2024
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Apr. 23, 2024
Entity File Number	000-30421
Entity Registrant Name	HANMI FINANCIAL CORPORATION
Entity Central Index Key	0001109242
Entity Tax Identification Number	95-4788120
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	900 Wilshire Boulevard, Suite 1250
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90017
City Area Code	213
Local Phone Number	382-2200
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.001 par value
Trading Symbol	HAFC
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false