Exhibit 99.1

HANMI FINANCIAL CORPORATION REPORTS RECORD
NET INCOME OF $13.3 MILLION FOR FIRST QUARTER OF 2005;
EARNINGS PER SHARE INCREASE 23% TO $0.27

     LOS ANGELES – April 21, 2005 – Hanmi Financial Corporation (NASDAQ:HAFC), the holding company for Hanmi Bank, reported that for the three months ended March 31, 2005, it earned record net income of $13.3 million, an increase of 108.8 percent over net income of $6.4 million in the comparable period a year ago. Earnings per share were $0.27 (diluted), an increase of 22.7 percent compared to $0.22 (diluted) for the same period in 2004. Earnings per share for 2004 have been restated to reflect a 100 percent stock dividend in January 2005.

     “Again we are pleased to report record quarterly net income,” said Sung Won Sohn, Ph.D., Hanmi’s President and Chief Executive Officer. “At $13.3 million, net income was the highest in Hanmi’s history and reflects in part the completion of post-merger staffing reductions and the achievement of substantial operating efficiencies that were anticipated at the time of our acquisition of Pacific Union Bank in April 2004.”

     “At quarter-end total assets were essentially unchanged at $3.14 billion as compared to December 31, 2004, reflecting the continued repositioning of the loan portfolio and modest growth in deposits,” continued Dr. Sohn. “Disciplined pricing on loans and deposits and a focus on credit quality contributed to an increase of 19 basis points in net interest margin, to 4.70 percent from 4.51 percent in the fourth quarter of 2004. Current expectations are that we will see further growth in deposits and a resumption of growth in the loan portfolio during the second quarter of 2005.”

FIRST-QUARTER HIGHLIGHTS

•	On January 3, 2005, Dr. Sung Won Sohn officially joined the Company as President and Chief Executive Officer.

•	First-quarter 2005 pre-tax income increased 107.1 percent to $21.7 million, compared to $10.5 million during the same quarter in 2004.

•	First-quarter 2005 net interest income before provision for credit losses increased 88.4 percent to $31.7 million from $16.8 million during the same quarter in 2004.

•	Return on average assets for the first quarter of 2005 was 1.74 percent, compared to 1.50 percent for the fourth quarter of 2004 and 1.44 percent for the same quarter in 2004.

•	Return on average equity for the first quarter of 2005 was 13.32 percent, compared to 11.80 percent for the fourth quarter of 2004 and 17.99 percent for the same quarter in 2004.

•	Net interest margin for the first quarter of 2005 increased to 4.70 percent from 4.51 percent for the fourth quarter of 2004 and 4.02 percent for the same quarter last year.

•	Total assets increased to $3.14 billion at March 31, 2005 from $3.10 billion at December 31, 2004 and $1.76 billion at March 31, 2004.

•	The loan portfolio decreased by $4.8 million, or 0.2 percent, during the first quarter of 2005 to $2.23 billion from $2.24 billion at December 31, 2004, and increased by $947.0 million, or 73.8 percent, from $1.28 billion at March 31, 2004.

•	Deposits grew by $16.1 million, or 0.6 percent, during the first quarter of 2005 to $2.55 billion from $2.53 billion at December 31, 2004, and grew by $1.07 billion, or 72.3 percent, from $1.48 billion at March 31, 2004.

•	The efficiency ratio for the first quarter of 2005 improved to 44.38 percent compared to 49.51 percent for the fourth quarter of 2004 and 47.69 percent for the same quarter in 2004.

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NET INTEREST INCOME BEFORE PROVISION FOR CREDIT LOSSES

     Net interest income before provision for credit losses was $31.7 million for the first quarter of 2005, an increase of $14.9 million, or 88.4 percent, compared to $16.8 million for the same quarter in 2004. The increase in net interest income was primarily due to an increase in average interest-earning assets and two 25-basis point increases during the first quarter in Hanmi Bank’s prime rate. The net interest margin was 4.70 percent for the first quarter of 2005, compared to 4.02 percent for the same quarter in 2004.

     Average interest-earning assets for the first quarter of 2005 increased by $6.3 million, or 0.2 percent, over the fourth quarter of 2004 and provided an additional $1.4 million of interest income compared with the fourth quarter of 2004. The majority of this growth was funded by a $56.3 million, or 2.3 percent, increase in average deposits. Average interest-earning assets for the first quarter of 2005 increased by $1.05 billion, or 62.5 percent, over the first quarter of 2004 and provided an additional $21.1 million of interest income compared with the first quarter of 2004. The majority of this growth was funded by a $1.06 billion, or 72.9 percent, increase in average deposits.

PROVISION FOR CREDIT LOSSES

     The provision for credit losses represents the charge against current earnings that is determined by management, through a disciplined credit review process, to be the amount needed to maintain an allowance that is sufficient to absorb probable loan losses inherent in the Company’s loan portfolio. The provision for credit losses was $136,000 in the first quarter of 2005, compared with $1.2 million in the fourth quarter of 2004 and $0.9 million in the same quarter last year. The decrease in the provision for credit losses in the first quarter of 2005 resulted primarily from the low net charge-offs experienced in the first quarter of 2005, which caused historical loss percentages to decrease. As of March 31, 2005, total net charge-offs were $81,000, compared to $605,000 total net charge-offs in the fourth quarter of 2004. As of March 31, 2005, non-performing loans as a percentage of the total loan portfolio and as a percentage of the allowance for loan losses were 0.31 percent and 30.49 percent, respectively.

NON-INTEREST INCOME

     Non-interest income increased by $2.6 million, or 53.1 percent, to $7.5 million in the first quarter of 2005, compared with $4.9 million for the same quarter in 2004. The increase was mainly due to an increase of $1.1 million, or 39.9 percent, in service charges on deposit accounts, which was substantially attributable to the merger with PUB. There were also increases in other fee-related accounts, primarily due to the merger with PUB.

     Non-interest income decreased by $0.8 million, or 10.1 percent, to $7.5 million in the first quarter of 2005, compared with $8.4 million for the fourth quarter of 2004. Gain on sales of loans decreased $1.0 million, or 77.1 percent, as the Bank retained a larger portion of Small Business Administration (“SBA”) loan production in portfolio.

NON-INTEREST EXPENSES

     Non-interest expenses increased by $7.0 million, or 67.9 percent, to $17.4 million in the first quarter of 2005, compared with $10.4 million for the same quarter in 2004. Salaries and employee benefits increased 62.2 percent to $9.2 million, compared with $5.7 million for the same quarter in 2004, and occupancy and equipment expense increased 61.1 percent to $2.2 million, compared with $1.4 million for the same quarter in 2004, mainly due to the effect of the merger with PUB.

     Non-interest expenses decreased by $2.0 million, or 10.5 percent, to $17.4 million in the first quarter of 2005, compared with $19.5 million for the fourth quarter of 2004. Salaries and employee benefits decreased 12.4 percent to $9.2 million, compared with $10.5 million for the fourth quarter of 2004, and advertising and promotional expense decreased 26.8 percent to $694,000, compared with $948,000 for the fourth quarter of 2004, mainly due to one-time expenditures in the fourth quarter of 2004.

     The efficiency ratio (non-interest expenses divided by the sum of net interest income before provision for credit losses and non-interest income) for the first quarter of 2005 improved to 44.38 percent, compared to 49.51 percent in the fourth quarter of 2004 and 47.69 percent for the same quarter in 2004.

     On January 22, 2005, the Company closed its Eleventh and Maple Street branch in Los Angeles, as planned, and completed its post-merger staff reduction program. As of March 31, 2005, the Company’s full-time equivalent number of employees was 514.

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INCOME TAXES

     The provision for income taxes was $8.3 million at a 38.5 percent effective tax rate for the first quarter of 2005, compared to $7.0 million at a 37.4 percent effective tax rate for fourth quarter of 2004 and $4.1 million at a 39.0 percent effective tax rate for the same quarter in 2004.

FINANCIAL POSITION

     Total assets of $3.14 billion at March 31, 2005 were comparable to the December 31, 2004 balance and an increase of $1.38 billion over the pre-merger March 31, 2004 balance of $1.76 billion.

     At March 31, 2005, net loans totaled $2.23 billion, a decrease of $4.8 million, or 0.2 percent, from $2.24 billion at December 31, 2004. The slight decrease in net loans was primarily attributed to the continued repositioning of the loan portfolio and disciplined loan pricing. Real estate loans decreased by $32.3 million to $924.5 million at March 31, 2005, compared to $956.8 million at December 31, 2004. Commercial loans grew by $30.0 million to $1.25 billion at March 31, 2005, compared to $1.22 billion at December 31, 2004.

     The growth in total assets was funded by increases in customer deposits of $16.1 million, up 0.6 percent to $2.55 billion. These rising balances were led by increases in non-interest-bearing accounts of $40.3 million, up 5.5 percent to $769.9 million, and time deposits of $30.2 million, up 2.9 percent to $1.06 billion, partially offset by decreases in money market checking accounts of $47.1 million, down 7.7 percent to $566.5 million, and savings accounts of $7.3 million, down 4.7 percent to $146.6 million.

     The Company’s borrowings mostly take the form of advances from the Federal Home Loan Bank of San Francisco (“FHLB”). Advances from the FHLB were $66.3 million at March 31, 2005, compared to $66.4 million at December 31, 2004.

ASSET QUALITY

     Total non-performing assets, including accruing loans due 90 days or more, non-accrual loans and other real estate owned (“OREO”) assets, increased by $0.9 million to $6.9 million at March 31, 2005 from $6.0 million at December 31, 2004. Non-performing loans as a percentage of gross loans increased to 0.31 percent at March 31, 2005 from 0.27 percent at December 31, 2004.

     At March 31, 2005, accruing loans 90 days or more past due were $500,000, up $292,000 from $208,000 at December 31, 2004. At March 31, 2005, non-accrual loans were $6.4 million, up $0.6 million from $5.8 million at December 31, 2004. There were no OREO assets at March 31, 2005 or December 31, 2004.

     At March 31, 2005, the allowance for loan losses was $22.6 million, and represented management’s best estimate of the amount needed to maintain an allowance that the Company believes should be sufficient to absorb probable loan losses inherent in its loan portfolio. In addition, the Company maintained a liability for off-balance sheet exposure totaling $1.9 million at March 31, 2005, compared to $1.8 million at December 31, 2004. The allowance for loan losses represented 1.00 percent of gross loans and 327.9 percent of non-performing loans at March 31, 2005. The comparable ratios were 1.00 percent of gross loans and 377.5 percent of non-performing loans at December 31, 2004.

ABOUT HANMI FINANCIAL CORPORATION

     Headquartered in Los Angeles, Hanmi Bank, a wholly owned subsidiary of Hanmi Financial Corporation, provides services to the multi-ethnic communities of California, with 22 full-service offices in Los Angeles, Orange, San Francisco, Santa Clara and San Diego counties. Hanmi Bank specializes in commercial, SBA, trade finance and consumer lending, and is a recognized community leader. Hanmi Bank’s mission is to provide a full range of quality products and premier services to its customers and to maximize shareholder value. Additional information is available at www.hanmifinancial.com.

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FORWARD-LOOKING STATEMENTS

     This release contains forward-looking statements, which are included in accordance with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of such terms and other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ from those expressed or implied by the forward-looking statement. These factors include the following: general economic and business conditions in those areas in which the Company operates; demographic changes; competition for loans and deposits; fluctuations in interest rates; risks of natural disasters related to the Company’s real estate portfolio; risks associated with SBA loans; changes in governmental regulation; credit quality; the availability of capital to fund the expansion of the Company’s business; and changes in securities markets. In addition, Hanmi sets forth certain risks in its reports filed with the Securities and Exchange Commission, including the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2004, which could cause actual results to differ from those projected.

CONTACT

     Hanmi Financial Corporation

Michael J. Winiarski
Chief Financial Officer
(213) 368-3200

Stephanie Yoon
Investor Relations
(213) 427-5631

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HANMI FINANCIAL CORPORATION AND SUBSIDIARY
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(Dollars in Thousands)

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HANMI FINANCIAL CORPORATION AND SUBSIDIARY
CONDENSED CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(Dollars in Thousands, Except Per Share Data)

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HANMI FINANCIAL CORPORATION AND SUBSIDIARY
SELECTED FINANCIAL DATA (UNAUDITED)
(Dollars in Thousands)

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HANMI FINANCIAL CORPORATION AND SUBSIDIARY
SELECTED FINANCIAL DATA (UNAUDITED) (Continued)
(Dollars in Thousands)

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