HANMI FINANCIAL CORP
For the period ended Jun 30, 2025. Filed Aug 8, 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.
Jun 30, 2025 · Filed Aug 8, 2025
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Noninterest Expense
The following table sets forth the components of noninterest expense for the periods indicated:
| Three Months Ended June 30, · Increase(Decrease) · Increase(Decrease) | ||||
|---|---|---|---|---|
| 2025 | 2024 | Amount | Percent | |
| (in thousands) | ||||
| Salaries and employee benefits | $22,069 | $20,434 | $1,635 | 8.00% |
| Occupancy and equipment | 4,344 | 4,607 | (263) | (5.71) |
| Data processing | 3,727 | 3,686 | 41 | 1.11 |
| Professional fees | 1,725 | 1,749 | (24) | (1.37) |
| Supplies and communications | 515 | 570 | (55) | (9.65) |
| Advertising and promotion | 798 | 669 | 129 | 19.28 |
| All other operating expenses | 3,567 | 2,992 | 575 | 19.22 |
| Subtotal | 36,745 | 34,707 | 2,038 | 5.87 |
| Branch consolidation expense | — | 301 | (301) | — |
| Other real estate owned (income) expense | (461) | 6 | (467) | N/M |
| Repossessed personal property expense | 63 | 262 | (199) | (75.95) |
| Total noninterest expense | $36,347 | $35,276 | $1,071 | 3.04% |
For the three months ended June 30, 2025, noninterest expense was $36.3 million, an increase of $1.1 million, or 3.0%, compared with $35.3 million for the same period in 2024. The increase was mainly attributed to a $1.6 million increase in salaries and employee benefits, a $0.6 million increase in all other operating expenses, and a $0.1 million increase in advertising and promotion, partially offset by a $0.3 million decrease in occupancy and equipment due to branch consolidations and a $0.5 million increase in other real estate owned income due to the gain on sale of other real estate owned. The increase in salaries and employee benefits was mainly attributed to annual merit increases and a decrease in capitalized salaries related to loan originations for the three months ended June 30, 2025 compared with the same period in 2024. Advertising and promotion increased $0.1 million due to new branch promotional expenses. The increase in other operating expenses was due to loan and deposit operations.
The following table sets forth the components of noninterest expense for the periods indicated:
| Six Months Ended June 30, · Increase(Decrease) · Increase(Decrease) | ||||
|---|---|---|---|---|
| 2025 | 2024 | Amount | Percent | |
| (in thousands) | ||||
| Salaries and employee benefits | $43,041 | $42,019 | $1,022 | 2.43% |
| Occupancy and equipment | 8,794 | 8,843 | (49) | (0.55) |
| Data processing | 7,514 | 7,237 | 277 | 3.83 |
| Professional fees | 3,194 | 3,642 | (448) | (12.30) |
| Supplies and communications | 1,031 | 1,172 | (141) | (12.03) |
| Advertising and promotion | 1,382 | 1,576 | (194) | (12.31) |
| All other operating expenses | 6,742 | 6,451 | 291 | 4.51 |
| Subtotal | 71,698 | 70,940 | 758 | 1.07 |
| Branch consolidation expense | — | 301 | (301) | N/M |
| Other real estate owned (income) expense | (420) | 28 | (448) | N/M |
| Repossessed personal property expense | 52 | 451 | (399) | (88.47) |
| Total noninterest expense | $71,330 | $71,720 | $(390) | (0.54)% |
For the six months ended June 30, 2025, noninterest expense was $71.3 million, a decrease of $0.4 million, or 0.5%, compared with $71.7 million for the same period in 2024. The decrease was mainly attributed to a $0.4 million decrease in professional fees, a $0.2 million decrease in advertising and promotion, a $0.3 million branch consolidation expense during the six months ended June 30, 2024, a $0.4 million increase in other real estate owned income due to the sale of other real estate owned and $0.4 million decrease in repossessed personal property expense, offset by a $1.0 million increase in salaries and benefits. The increase in salaries and employee benefits was primarily due to an increase in annual merit raises and promotions. Professional fees decreased $0.4 million for the six months ended June 30, 2025 due to the completion of a loan system implementation in 2024. Advertising and promotion decreased $0.2 million due to a decrease in deposit marketing campaign expenses.
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