UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 12b-25
NOTIFICATION OF LATE FILING
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(Check one): |
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o Form 10-K
o Form 20-F
o Form 11-K
þ Form 10-Q
o Form 10-D
o Form N-SAR
o Form N-CSR
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For Period Ended: |
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June 30, 2009 |
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o Transition Report on Form 10-K |
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o Transition Report on Form 20-F |
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o Transition Report on Form 11-K |
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o Transition Report on Form 10-Q |
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o Transition Report on Form N-SAR |
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For the Transition Period Ended:
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If the notification relates to a portion of the filing checked above, identify the Item(s) to which
the notification relates:
PART I REGISTRANT INFORMATION
HANMI FINANCIAL CORPORATION
Full Name of Registrant
Former Name if Applicable
3660 Wilshire Boulevard, Penthouse Suite A
Address of Principal Executive Office (Street and Number)
Los Angeles, California 90010
City, State and Zip Code
PART II RULES 12b-25(b) AND (c)
If the subject report could not be filed without unreasonable effort or expense and the registrant seeks relief pursuant to Rule 12b-25(b), the following should be completed. (Check box if appropriate)
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þ |
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(a)
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The reason described in reasonable detail in Part III of this form could not be
eliminated without unreasonable effort or expense |
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(b)
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The subject annual report, semi-annual report, transition report on Form 10-K, Form 20-F, Form 11-K, Form N-SAR or Form N-CSR, or portion thereof, will be filed on or before the fifteenth calendar day following the prescribed due date; or the subject quarterly report or transition report on Form 10-Q or subject distribution report on Form 10-D, or portion thereof, will be filed on or before the fifth calendar day following the prescribed due date; and
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(c)
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The accountants statement or other exhibit required by Rule 12b-25(c) has been attached if applicable.
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PART III NARRATIVE
State below in reasonable detail why Forms 10-K, 20-F, 11-K, 10-Q, 10-D, N-SAR, N-CSR, or the transition report or portion thereof, could not be filed within the prescribed time period.
Hanmi Financial Corporation (the Company) has determined that it will be unable to file its Quarterly Report on Form 10-Q for the period ended June 30, 2009
by August 10, 2009 without unreasonable effort and expense because the Company needs additional time to complete the restatement and filing of Amendment No. 1
to its Quarterly Report on Form 10-Q for the period ended March 31, 2009. In accordance with Rule 12b-25 of the Securities Exchange Act of 1934, as
amended, the Company expects to
file its Form 10-Q no later than the fifth calendar day following the prescribed due date.
The Company will be filing Amendment No. 1 to its Quarterly Report on Form 10-Q for the period ended March 31, 2009, originally filed with the Securities and Exchange Commission on May 11, 2009, to amend and restate its unaudited consolidated financial statements as of and for the three months ended March 31, 2009. The allowance for loan losses
and provision for credit losses were increased to
reflect an adjustment to the qualitative reserve factors that its wholly-owned subsidiary, Hanmi Bank (the Bank), utilized in calculating its allowance for loan losses
as of March 31, 2009. The increases in the qualitative reserve factors reflected first quarter trends in delinquent, classified and non-performing loans in the Banks loan portfolio, which were raised as part of the Banks recent regulatory examination. The restatement
also will reflect certain loan grading changes that also occurred as a result of the recent regulatory examination. As a result of these findings, the Company concluded that the allowance for loan losses as of March 31, 2009 should be increased by $21.0 million to reflect these matters.
The decision to restate the first quarter financial statements was approved by the Audit Committee of the Board of Directors of Hanmi Financial on August 3, 2009.