NASDAQ$HAFC

Hanmi Financial Corporation · Q1 2024 earnings

Q1 2024 earnings · · Investor relations

Briefing

Hanmi's financial performance reflected a decrease in net income and net interest income, alongside an increase in noninterest income and noninterest expense.

Hanmi Financial Corporation reported a net income of $15.2 million for Q1 2024, a decrease from $18.6 million in the previous quarter. The company saw a decrease in net interest income but an increase in noninterest income. Deposits increased, and the loan portfolio remained consistent.

  • Net income for the first quarter of 2024 was $15.2 million, or $0.50 per diluted share.
  • Deposits increased by $95.5 million, or 1.5%, from the previous quarter.
  • Noninterest income increased by $1.1 million to $7.7 million.
  • Total assets decreased slightly to $7.51 billion.

Headline financials

Total Revenue

$58.4M

Previous: $66.2M-11.8%
EPS

$0.50

Previous: $0.72-30.6%
Efficiency Ratio

62.4%

Previous: 49.5%+26.0%
Return on Average Assets

0.8%

Previous: 1.2%-33.1%
Allowance for Credit Losses to Loans

1.1%

No prior period
Common Equity Tier 1 Capital Ratio

12.1%

Previous: 11.6%+4.0%
Total Risk-Based Capital Ratio

15.2%

Previous: 14.8%+2.7%
Free Cash Flow

$15.2M

Previous: $22M-31.0%
Net Income

$15.2M

Previous: $22M-31.0%
Operating Income

-$1.26M

Previous: $27.1M-104.6%
Gross Profit

$58.4M

Previous: $66.2M-11.8%
Stock-Based Comp

$775K

Previous: $652K+18.9%

Revenue & EPS history

Hanmi · Revenue · Quarterly

$58.4M

Q1 2024-11.8%vs Q1 2023
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Forward guidance

Hanmi will continue to optimize its branch network through consolidation and expansion into new markets, focusing on building enduring banking relationships and creating value for shareholders.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2024

Historical avgQ1 2024

-0.1%

Avg return

Earnings day

-0.3%

Avg return

5 days after

+2.2%

Avg return

30 days after

50%

33 / 66 earnings

Positive

+15.7%

Q1 2010

Best reaction

-18.3%

Q1 2020

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+7.0%+11.4%+9.3%
Q4 2025-13.0%-3.6%-8.3%
Q3 2025+8.2%+11.2%+11.5%
Q2 2025-2.3%-1.4%+2.8%
Q1 2025+3.4%+1.1%+1.3%
Q4 2024+7.2%+5.2%+4.9%
Q3 2024+7.9%+9.8%+28.8%
Q2 2024-3.2%+2.3%-5.4%
Q1 2024-0.5%+4.0%+2.8%
Q4 2023-11.3%-9.9%-20.6%
Q3 2023-6.0%-4.6%+11.2%
Q2 2023+4.2%+7.4%-2.3%
Q1 2023-10.1%-9.7%-17.7%
Q4 2022-7.0%-6.0%-1.7%
Q3 2022+4.4%+6.7%+4.3%
Q2 2022+5.2%+5.5%+8.6%
Q1 2022-4.2%-6.4%-6.6%
Q4 2021+6.4%+4.4%-0.4%
Q3 2021+3.1%+4.8%+17.1%
Q2 2021+5.6%+4.2%+7.9%
Q1 2021+0.1%-0.2%+3.3%
Q4 2020+3.2%+11.8%+39.1%
Q3 2020-0.8%-0.4%+20.4%
Q2 2020+2.8%-0.4%+4.5%
Q1 2020-18.3%-25.0%-28.6%
Q4 2019-7.5%-8.4%-13.3%
Q3 2019-2.0%-2.8%+3.7%
Q2 2019+0.1%-1.4%+8.4%
Q1 2019+6.1%+8.3%-1.0%
Q4 2018-2.7%+4.5%+8.4%
Q3 2018-14.1%-6.3%-0.3%
Q2 2018-10.5%-10.3%-4.2%
Q1 2018-8.2%-9.8%-2.3%
Q4 2017-1.4%-1.9%-2.8%
Q3 2017-0.8%+0.6%-4.5%
Q2 2017-2.3%-0.2%-7.3%
Q1 2017-2.8%+0.2%-3.7%
Q4 2016+0.0%-1.0%-1.7%
Q3 2016-10.7%-7.5%+18.3%
Q2 2016+1.5%+2.0%+3.7%
Q1 2016+6.2%
Q4 2015+0.9%
Q3 2015-2.9%
Q2 2015-0.1%
Q1 2015+2.9%
Q4 2014-0.2%
Q3 2014+1.4%
Q2 2014-0.5%
Q1 2014-0.4%
Q4 2013+5.1%
Q3 2013-2.1%
Q2 2013-0.2%
Q1 2013-2.0%
Q4 2012-0.2%
Q3 2012-1.4%
Q2 2012+5.4%
Q1 2011+2.5%
Q1 2012+2.7%
Q4 2011+5.8%
Q4 2010+5.8%
Q4 2009+5.8%
Q3 2011+1.0%
Q3 2010+1.0%
Q2 2011+1.9%
Q2 2010+1.9%
Q1 2010+15.7%

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