Mergers & Acquisitions
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Deal Overview

Buyer:
Hanmi Financial Corporation
Actual Acquirer:
Hanmi Bank
Target:
Pacific Union Bank
Deal Type:
Bank & Thrift Company
Agreement Date:
12/22/2003
Announcement Date:
12/22/2003
Announced Deal Value ($ M):
299.08
Status:
Completed
Completion Date:
4/30/2004
Announced Deal Value Per Share ($ )
NA

Consideration Breakout
Cash ($M) 164.6
Common Stock ($M) 149.9
Common Stock Issued 6,120,093

Deal Pricing Ratios

Announcement Completion
Price / Book (%) 276.4 276.9
Price / Tangible Book (%) 276.4 276.9
Price / Earnings (x) 25.3 25.0
Price / Deposits (%) 35.69 30.73
Price / Assets (%) 28.27 25.18
Tangible Book Premium/ Deposits (%) 34.93 29.05
Deal Terms
Description of Consideration

Hanmi paid $164,562,490 in cash and issued 6,120,093 million shares to acquire Pacific Union.

Accounting Method Purchase
In-State Transaction? Yes
Merger of Equals? No
Geographic Expansion? Partial Overlap
Goodwill Generated ($ 000) 205,815
Estimated Cost Savings (%) 40.00
Estimated Cost Savings ($ 000) 10,900
Est. Restructuring Charges ($ 000) 20,000
Maximum Termination Fee ($ 000) 12,000
Minimum Termination Fee ($ 000) NA
Exchange Ratio (Common For Common) NA
Exchange Ratio (Common For Preferred) NA
Exchange Ratio (Preferred For Common) NA
Exchange Ratio (Preferred For Preferred) NA
Lockup Agreement NA
Strike Price ($ ) NA
% of Shares Outstanding NA
Shares Under Option NA
Core Deposit Intangibles ($ 000) 13,137
Deal Advisers
Financial Advisers
Party Advised Adviser Hired? Firm Name
Buyer Yes Credit Suisse
Seller Yes B. Riley FBR Inc.
Legal Counsel
Party Advised Adviser Hired? Firm Name
Buyer Yes Simpson Thacher & Bartlett LLP
Seller Yes Manatt Phelps & Phillips LLP