HANMI FINANCIAL CORP
For the period ended Mar 31, 2025. Filed May 9, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 9, 2025
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Noninterest Income
The following table sets forth the various components of noninterest income for the periods indicated:
| Three Months Ended March 31, · Increase(Decrease) · Increase(Decrease) | ||||
|---|---|---|---|---|
| 2025 | 2024 | Amount | Percent | |
| (in thousands) | ||||
| Service charges on deposit accounts | $2,217 | $2,450 | $(233) | (9.51)% |
| Trade finance and other service charges and fees | 1,396 | 1,414 | (18) | (1.27) |
| Servicing income | 732 | 712 | 20 | 2.81 |
| Bank-owned life insurance income | 309 | 304 | 5 | 1.64 |
| All other operating income | 897 | 928 | (31) | (3.34) |
| Service charges, fees & other | 5,551 | 5,808 | (257) | (4.42) |
| Gain on sale of SBA loans | 2,000 | 1,482 | 518 | 34.95 |
| Gain on sale of mortgage loans | 175 | 443 | (268) | (60.50) |
| Total noninterest income | $7,726 | $7,733 | $(7) | (0.09)% |
For the three months ended March 31, 2025 and 2024, noninterest income was $7.7 million. The $0.5 million increase in gain on sale of SBA loans was offset by a $0.3 million decrease in gain on sale of mortgage loans and $0.2 million decrease in service charges on deposit accounts.
During the first quarter of 2025, the Company sold $10.0 million of residential loans, recognizing a net gain of $0.2 million, and sold $32.2 million of SBA loans, recognizing a net gain of $2.0 million. During the first quarter of 2024, the Company sold $29.7 million of residential loans, recognizing a net gain of $0.4 million, and sold $25.6 million of SBA loans, recognizing a net gain of $1.5 million. Trade premiums on SBA loan sales were 7.82% and 7.23% for the three months ended March 31, 2025 and 2024, respectively.
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