Hanmi Financial Corp Q2 net income falls on credit loss expense

Hanmi Financial

22/07/2025 21:19

Overview

Hanmi Q2 net income falls to $15.1 mln due to credit loss expense

Asset quality improves vs the prior quarter

Deposits grow 1.7% qtr/qtr, with noninterest-bearing demand deposits at June 30, were 31.3% of total deposits

Outlook

Hanmi expects "strong" loan pipeline in second half of 2025

Company aims to deepen client relationships and expand market presence

Hanmi focuses on leveraging balance sheet for sustainable growth

Result Drivers

CREDIT LOSS EXPENSE - Net income impacted by $7.6 mln credit loss expense, per CEO Bonnie Lee

ASSET QUALITY IMPROVEMENT - Criticized loans dropped 71.8% due to loan upgrades and charge-offs

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q2 EPS
$0.5
Q2 Net Income
$15.12 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the banks peer group is "buy"

Wall Street's median 12-month price target for Hanmi Financial Corp is $27.50, about 5.7% above its July 21 closing price of $25.92

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release: ID:nGNX5JwGC8

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)