EXHIBIT 99.1

Hanmi Reports 34% Year-over-Year Increase in Net Income for First Quarter 2016

2016 First Quarter Highlights:        

LOS ANGELES, April 19, 2016 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (NASDAQ:HAFC) (or “Hanmi”), the holding company for Hanmi Bank (the “Bank”), today reported first quarter net income of $14.8 million, or $0.46 per diluted share, unchanged compared with the prior quarter and up 33.9% from $11.1 million, or $0.35 per diluted share, for the first quarter of 2015.

Mr. C. G. Kum, President and Chief Executive Officer, said, “In a highly competitive environment, Hanmi continues to generate exceptional loan growth and earnings. Hanmi’s record results in the first quarter were highlighted by a 55% year-over-year increase in new loan production, helping drive loans up 4% from the prior quarter and 17% from a year ago. In addition, our emphasis on core deposit cultivation has contributed to the low cost deposit base, with demand deposits reaching 34% of total deposits, up 4% from a year ago.”

Mr. Kum continued, “Ongoing success in repositioning the balance sheet is reflected in our expanding net interest margin - up 6 basis points from the prior quarter and 40 basis points from the prior year after excluding the effects of acquisition accounting. Continued focus on expense management has successfully reduced noninterest expense by $5.3 million, or 17% from a year ago.  Overall, we carry significant momentum to achieve our profitable growth objectives throughout the remainder of the year.”

Quarterly Results     
 (in thousands, except per share data)      
      
  As of  or for the Three Months Ended
 March 31, December 31, March 31,
  2016   2015   2015 
      
Net income$  14,804  $  14,829  $  11,054 
Net income per diluted common share$  0.46  $  0.46  $  0.35 
      
Assets$  4,310,748  $  4,234,521  $  4,084,015 
Loans receivable$  3,306,479  $  3,183,316  $  2,820,031 
Deposits$  3,499,992  $  3,509,976  $  3,552,676 
      
Pre-tax, pre-provision earnings on average assets 1.85%  2.08%  1.64%
Return on average assets 1.41%  1.44%  1.07%
Return on average stockholders' equity 11.92%  11.96%  9.75%
Net interest margin (1) 3.98%  3.93%  3.89%
Net interest margin excluding acquisition accounting (1) 3.68%  3.62%  3.28%
Efficiency ratio 57.25%  56.78%  64.98%
Efficiency ratio excluding merger and integration costs 57.25%  56.33%  61.65%
      
Tangible common equity to tangible assets (2) 11.82%  11.63%  11.40%
Tangible common equity per common share (2)$  15.79  $  15.39  $  14.58 
      
(1) Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate.
(2) Refer to "Non-GAAP Financial Measures" for further details.    
      

Results of Operations 

First quarter net interest income increased $1.0 million or 2.6% to $38.6 million from $37.6 million for the fourth quarter and increased $1.1 million or 3.0% from the same period last year primarily from the increase in loans.

Net interest margin (on a taxable equivalent basis) for the first quarter of 2016 was 3.98% up from 3.93% for the fourth quarter and 3.89% for the year-ago period.  Net interest margin (excluding acquisition accounting) was 3.68%, up 6 basis points from the preceding quarter and 40 basis points from the first quarter last year. The increase in net interest margin from the preceding quarter was primarily due to loan growth, while the increase from last year was due to loan growth and the change in the mix of earning assets.

The impact of acquisition accounting adjustments on core loan yield, core deposit cost, net interest income and net interest margin are summarized in the following tables. 

             
  Three Months Ended      
 March 31,
2016
 December 31,
2015
 March 31,
2015
       
Core loan yield 4.67%  4.75%  4.70%       
Accretion of discount on purchased loans 0.25%  0.24%  0.62%       
As reported 4.92%  4.99%  5.32%       
             
Core deposit cost 0.54%  0.57%  0.62%       
Accretion of time deposits premium 0.11%  0.12%  0.19%       
As reported 0.43%  0.45%  0.43%       
             
                         
 Three Months Ended 
 March 31, 2016 December 31, 2015 March 31, 2015 
  Amount   Rate   Amount   Rate   Amount   Rate  
      (in thousands)      
Net interest income and net interest margin excluding acquisition accounting (1)$  36,164    3.68% $  34,889    3.62% $  31,546    3.28% 
Accretion of discount on Non-PCI loans   1,754   0.18%    2,090   0.21%    3,511   0.36% 
Accretion of discount on PCI loans                    277   0.03%    (208)  -0.02%                          843   0.09% 
Accretion of time deposits premium   942   0.10%    1,146   0.12%    1,606   0.16% 
Amortization of subordinated debentures discount   (56)  -0.01%    (51)    -     (38)    -  
Net impact   2,917   0.30%    2,977   0.31%    5,922   0.61% 
As reported, on a fully taxable equivalent basis (1)$  39,081    3.98% $  37,866    3.93% $  37,468    3.89% 
             
(1) Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate. 
  

For the first quarter of 2016, Hanmi recorded a negative provision for loan losses of $1.5 million, which included a $0.2 million provision for losses on PCI loans. For the prior quarter, the negative provision for loan losses was $3.8 million, which also included a $2.3 million provision for losses on PCI loans.  For the year ago period, Hanmi recorded a negative provision for loan losses of $1.7 million which included $0.4 million of provision for losses on PCI loans.

First quarter noninterest income decreased $5.1 million or 42.3% to $7.0 million from $12.1 million for the fourth quarter of 2015 primarily due to a $3.0 million decrease in gain on sales of SBA loans, a $1.5 million decrease in disposition gains on PCI loans and a $0.5 million decrease in gain on sales of securities. Gains on sales of SBA loans were $0.9 million for the first quarter 2016, compared with $3.9 million for the fourth quarter of 2015 and $1.7 million for the year-ago period as the volume of SBA loans sold declined to $12.4 million from $29.3 million for the preceding quarter and $19.9 million for the same quarter last year. Disposition gains on PCI loans were $0.7 million for the first quarter of 2016, compared with $2.1 million for the prior quarter, and $1.2 million for the first quarter last year as PCI loans only declined $0.2 million for the first quarter of 2016, while they declined $5.1 million for the fourth quarter of 2015 and declined $3.4 million for the first quarter of 2015. There were no sales of securities in the first quarter of 2016, while securities transactions resulted in gains of $0.5 million for the fourth quarter of 2015 and $2.2 million for the first quarter last year.

Noninterest expense for the first quarter decreased $2.1 million, or 7.5%, to $26.1 million from $28.2 million for the fourth quarter primarily due to a $1.3 million reduction in SBA recourse allowance (recorded in other operating expenses), $0.8 million reduction in advertising and promotions and $0.5 million reduction in professional fees.  Salaries and employee benefits were higher in the first quarter as compared with the fourth quarter as payroll taxes, vacation and other benefits began anew.

Noninterest expense decreased $5.3 million, or 17.0%, from $31.4 million for the first quarter last year primarily due to reductions in merger and integration costs, professional fees and data processing fees related to the August 2014 acquisition of Central Bancorp, Inc. (“CBI”), along with lower salaries and employee benefits and occupancy and equipment expense from the branch closure and consolidations completed in the third quarter last year. As a result of the decrease in noninterest expense, coupled with the improvements in revenue from the growth in earning assets, the efficiency ratio excluding merger and integration costs, improved to 57.25% in the first quarter from 61.65% in the year-ago period.

Hanmi recorded a provision for income taxes of $6.2 million for the first quarter of 2016, representing an effective tax of 29.5%, compared with $10.5 million or 41.4% for the preceding quarter and $7.5 million or 40.5% for the first quarter of 2015.  Income tax expense for the first quarter of 2016 included a $1.8 million benefit arising from the finalization of the 2014 amended income tax returns.  The effective tax rate for the first quarter of 2016 would have been 38.0% without this benefit.

Financial Position
Total assets were $4.31 billion at March 31, 2016, a 1.8% increase from $4.23 billion at December 31, 2015, and a 5.6% increase from $4.08 billion at March 31, 2015.  The increases in total assets were primarily due to increases in loans receivable.

Loans receivable, before the allowance for loan losses, were $3.31 billion at March 31, 2016, up 3.9% from $3.18 billion at December 31, 2015, and up 17.2% from $2.82 billion at March 31, 2015. The increase in loans from the end of the 2015 first quarter reflects Hanmi’s strong loan production.  Loans held for sale, representing the guaranteed portion of SBA loans, were $2.6 million at March 31, 2016, compared with $2.9 million at the end of the 2015 fourth quarter and $8.7 million at the end of the 2015 first quarter. 

New loan production for the 2016 first quarter was $208.8 million, up 54.8% from $134.9 million for the first quarter last year and outpaced $59.9 million of loan payoffs.  First quarter 2016 new loan production was comprised of $174.4 million of commercial real estate loans, $15.3 million of commercial and industrial loans, $17.6 million of SBA loans, and $1.5 million of consumer loans. For the 2015 fourth quarter, new loan production was $268.5 million while loan payoffs were $171.8 million. Loan purchases for the 2016 first quarter were $30.7 million, compared with $114.7 million in the fourth quarter of 2015. SBA loan sales for the 2016 first quarter were $12.4 million, compared with $29.3 million for the fourth quarter of 2015.

Deposits were $3.50 billion at the end of the 2016 first quarter, compared with $3.51 billion at the end of the preceding quarter and $3.55 billion at the end of the first quarter of 2015.  The cost of deposits was 0.43% for the first quarter of 2016 compared with 0.45% for the fourth quarter of 2015 and 0.43% for the first quarter a year ago.

At March 31, 2016, stockholders’ equity was $510.9 million, compared with $493.9 million and $467.5 million at December 31, 2015 and March 31, 2015, respectively.  Tangible common stockholders’ equity was $509.2 million, or 11.82% of tangible assets, compared with $492.2 million, or 11.63% of tangible assets, and $465.5 million, or 11.40%, of tangible assets at December 31, 2015 and March 31, 2015, respectively.  Tangible book value per share was $15.79, up 2.6% from the preceding quarter and 8.3% from a year ago. 

During the first quarter, Hanmi declared a cash dividend on its common stock of $0.14 per share, unchanged from the prior quarter and up 27% from a year ago.  The dividend was paid on March 30, 2016, to stockholders of record as of the close of business on March 15, 2016. 

Asset Quality
Nonperforming loans, excluding PCI loans, were $16.3 million or 0.50% of loans at the end of the first quarter of 2016, compared with $19.1 million or 0.60% of loans at the end of the fourth quarter of 2015 and $29.3 million, or 1.05% of loans at the end of the first quarter last year.

OREO was $9.4 million at the end of the first quarter of 2016, up from $8.5 million at the end of the prior quarter. The sequential quarter increase in OREO was due to the foreclosure of three individual loans.  Classified loans were $32.3 million, or 0.98% of loans, at March 31, 2015, compared with $39.3 million, or 1.24% of loans, at December 31, 2015, and $56.1 million, or 1.99% of loans, a year ago.  Nonperforming assets were $25.7 million at the end of the first quarter of 2016, or 0.60% of assets, compared with 0.65% of assets at the end of the prior quarter and 1.01% of assets at the end of the same quarter last year.

Gross charge-offs for the first quarter of 2016 were $636,000, compared with $529,000 for the preceding quarter and $86,000 for the same period a year ago. Recoveries of previously charged-off loans for the first quarter of 2016 were $252,000, compared with $937,000 for the preceding quarter and $2.0 million for the first quarter of 2015. As a result, there were net charge-offs of $384,000 for the first quarter of 2016, compared to net recoveries of $408,000 for the preceding quarter and net recoveries of $2.0 million for the year ago period. 

The allowance for loan losses was $41.0 million as of March 31, 2016, generating an allowance of loan losses to loans receivable ratio of 1.24% compared with 1.35% as of December 31, 2015 and 1.88% as of March 31, 2015.

Conference Call       
Management will host a conference call today, April 19, 2016 at 1:00 p.m. PT (4:00 p.m. ET) to discuss these results.  This call will also be broadcast live via the internet.  Investment professionals and all current and prospective stockholders are invited to access the live call by dialing 1-877-407-9039 before 1:00 p.m. PT, using access code HANMI.  To listen to the call online, either live or archived, visit the Investor Relations page of Hanmi’s website at www.hanmi.com.

About Hanmi Financial Corporation
Headquartered in Los Angeles, California, Hanmi Financial Corporation owns Hanmi Bank, which serves multi-ethnic communities through its network of 42 full-service branches and 6 loan production offices in California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington and Georgia. Hanmi Bank specializes in real estate, commercial, SBA and trade finance lending to small and middle market businesses. Additional information is available at www.hanmi.com.

Forward-Looking Statements
This press 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. All statements other than statements of historical fact are “forward–looking statements” for purposes of federal and state securities laws, including, but not limited to, statements about anticipated future operating and financial performance, financial position and liquidity, business strategies, regulatory and competitive outlook, investment and expenditure plans, capital and financing needs and availability, plans and objectives of management for future operations, developments regarding our capital plans, strategic alternatives for a possible business combination, merger or sale transaction, and other similar forecasts and statements of expectation and statements of assumption underlying any of the foregoing. 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: failure to maintain adequate levels of capital and liquidity to support our operations; the effect of potential future supervisory action against us or Hanmi Bank; general economic and business conditions internationally, nationally and in those areas in which we operate; volatility and deterioration in the credit and equity markets; changes in consumer spending, borrowing and savings habits; availability of capital from private and government sources; demographic changes; competition for loans and deposits and failure to attract or retain loans and deposits; fluctuations in interest rates and a decline in the level of our interest rate spread; risks of natural disasters related to our real estate portfolio; risks associated with Small Business Administration loans; failure to attract or retain key employees; changes in governmental regulation, including, but not limited to, any increase in FDIC insurance premiums; ability of Hanmi Bank to make distributions to Hanmi Financial, which is restricted by certain factors, including Hanmi Bank’s retained earnings, net income, prior distributions made, and certain other financial tests; ability to identify a suitable strategic partner or to consummate a strategic transaction; adequacy of our allowance for loan losses; credit quality and the effect of credit quality on our provision for loan losses and allowance for loan losses; changes in the financial performance and/or condition of our borrowers and the ability of our borrowers to perform under the terms of their loans and other terms of credit agreements; our ability to control expenses; and changes in securities markets. In addition, we set forth certain risks in our reports filed with the U.S. Securities and Exchange Commission, including, Item 1A of our Annual Report on Form 10-K for the year ended December 31, 2015, our Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K that we will file hereafter, which could cause actual results to differ from those projected. We undertake no obligation to update such forward-looking statements except as required by law.

         
Hanmi Financial Corporation and Subsidiaries        
Consolidated Balance Sheets (Unaudited)        
(In thousands)         
          
 March 31, December 31, Percentage March 31, Percentage
  2016   2015  Change  2015  Change
Assets         
Cash and due from banks$  137,464  $  164,364   -16.4% $  182,054   -24.5%
Securities available for sale, at fair value   675,032     698,296   -3.3%    858,064   -21.3%
Loans held for sale, at the lower of cost or fair value   2,583     2,874   -10.1%    8,677   -70.2%
Loans receivable, net of allowance for loan losses   3,265,453     3,140,381   4.0%    2,767,080   18.0%
Accrued interest receivable   10,626     9,501   11.8%    9,238   15.0%
Premises and equipment, net   30,112     29,834   0.9%    30,934   -2.7%
Other real estate owned ("OREO"), net   9,411     8,511   10.6%    12,114   -22.3%
Customers' liability on acceptances   2,809     3,586   -21.7%    2,598   8.1%
Servicing assets   11,452     11,744   -2.5%    13,321   -14.0%
Other intangible assets, net   1,619     1,701   -4.8%    1,985   -18.4%
Federal Home Loan Bank ("FHLB") stock, at cost   16,385     16,385   0.0%    17,581   -6.8%
Federal Reserve Bank ("FRB") stock, at cost   14,423     14,098   2.3%    12,273   17.5%
Income tax asset   56,456     57,174   -1.3%    86,478   -34.7%
Bank-owned life insurance   48,612     48,340   0.6%    47,795   1.7%
Prepaid expenses and other assets   28,311     27,732   2.1%    33,823   -16.3%
Total assets$  4,310,748   $  4,234,521    1.8% $  4,084,015    5.6%
          
Liabilities and Stockholders' Equity         
Liabilities:         
Deposits:         
Noninterest-bearing$  1,172,444  $  1,155,518   1.5% $  1,064,695   10.1%
Interest-bearing   2,327,548     2,354,458   -1.1%    2,487,981   -6.4%
Total deposits   3,499,992     3,509,976   -0.3%    3,552,676   -1.5%
Accrued interest payable   3,249     3,177   2.3%    3,497   -7.1%
Bank's liability on acceptances   2,809     3,586   -21.7%    2,598   8.1%
FHLB advances   250,000     170,000   47.1%    -    - 
Servicing liabilities   4,588     4,784   -4.1%    5,529   -17.0%
FDIC loss sharing liability   1,266     1,289   -1.8%    543   133.1%
Subordinated debentures   18,759     18,703   0.3%    18,582   1.0%
Accrued expenses and other liabilities   19,225     29,088   -33.9%    33,120   -42.0%
Total liabilities   3,799,888      3,740,603    1.6%    3,616,545    5.1%
          
Stockholders' equity:         
Common stock   257     257   0.0%    257   0.0%
Additional paid-in capital   558,721     557,761   0.2%    555,710   0.5%
Accumulated other comprehensive income   5,364     (315)  -1802.9%    6,199   -13.5%
Accumulated deficit   16,742     6,422   160.7%    (24,838)  -167.4%
Less treasury stock   (70,224)    (70,207)  0.0%    (69,858)  0.5%
Total stockholders' equity   510,860      493,918    3.4%    467,470    9.3%
Total liabilities and stockholders' equity$  4,310,748   $  4,234,521    1.8% $  4,084,015    5.6%
          


 
Hanmi Financial Corporation and Subsidiaries 
Consolidated Statement of Income (Unaudited) 
(In thousands, except share and per share data) 
          
  Three Months Ended
 March 31, December 31, Percentage March 31, Percentage
  2016   2015  Change  2015  Change
Interest and dividend income:         
Interest and fees on loans$  39,067  $  38,382   1.8% $  37,034   5.5%
Interest on securities   3,017     2,686   12.3%    3,874   -22.1%
Dividends on FRB and FHLB stock   542     580   -6.6%    482   12.4%
Interest on deposits in other banks   48     66   -27.3%    48   0.0%
Total interest and dividend income   42,674     41,714   2.3%    41,438   3.0%
Interest expense:         
Interest on deposits   3,727     3,946   -5.5%    3,780   -1.4%
Interest on subordinated debentures   183     169   8.3%    145   26.2%
Interest on FHLB advances   195     15   1200.0%    56   248.2%
Total interest expense   4,105     4,130   -0.6%    3,981   3.1%
Net interest income before provision for loan losses   38,569     37,584   2.6%    37,457   3.0%
(Negative provision) provision for loan losses   (1,525)    (3,835)  -60.2%    (1,673)  -8.8%
Net interest income after provision for loan losses   40,094     41,419   -3.2%    39,130   2.5%
Noninterest income:         
Service charges on deposit accounts   3,001     3,142   -4.5%    3,211   -6.5%
Trade finance and other service charges and fees   1,044     1,130   -7.6%    1,267   -17.6%
Gain on sale of Small Business Administration ("SBA") loans   858     3,871   -77.8%    1,684   -49.0%
Disposition gains on Purchased Credit Impaired ("PCI") loans   659     2,140   -69.2%    1,222   -46.1%
Net gain on sales of securities   -     467   -100.0%    2,184   -100.0%
Other operating income   1,399     1,306   7.1%    1,282   9.1%
Total noninterest income   6,961     12,056   -42.3%    10,850   -35.8%
Noninterest expense:         
Salaries and employee benefits   15,698     14,841   5.8%    16,384   -4.2%
Occupancy and equipment   3,496     3,948   -11.4%    4,303   -18.8%
Data processing   1,436     1,436   0.0%    2,132   -32.6%
Professional fees   1,464     1,923   -23.9%    2,341   -37.5%
Supplies and communications   736     943   -22.0%    830   -11.3%
Advertising and promotion   522     1,342   -61.1%    523   -0.2%
OREO expense   465     (322)  -244.4%    417   11.5%
Other operating expenses   2,251     3,851   -41.5%    2,851   -21.0%
Merger and integration costs   -     224   -100.0%    1,611   -100.0%
Total noninterest expense   26,068     28,186   -7.5%    31,392   -17.0%
Income before provision for income taxes   20,987     25,289   -17.0%    18,588   12.9%
Provision for income taxes   6,183     10,460   -40.9%    7,534   -17.9%
Net income$  14,804   $  14,829    -0.2% $  11,054    33.9%
            
Basic earnings per share:$  0.46  $  0.46    $  0.35   
Diluted earnings per share:$  0.46  $  0.46    $  0.35   
          
Weighted-average shares outstanding:         
Basic   31,846,371     31,830,276       31,747,299   
Diluted   31,928,103     31,949,502       32,026,723   
Common shares outstanding   32,249,512     31,974,359       31,933,634   


       
Hanmi Financial Corporation and Subsidiaries 
Selected Financial Data (Unaudited) 
(In thousands, except ratios) 
       
  As of or for the Three Months Ended  
 March 31, December 31, March 31, 
  2016   2015   2015  
Average balances:      
Loans (1) $  3,192,832  $  3,049,544  $  2,821,616  
Securities   682,370     649,565     971,440  
Interest-earning assets   3,949,788     3,820,245     3,901,818  
Assets   4,221,076     4,083,002     4,181,524  
Deposits   3,482,986     3,516,225     3,526,663  
Borrowings   200,590     35,420     146,773  
Interest-bearing liabilities   2,544,754     2,433,140     2,642,501  
Stockholders’ equity   499,469     491,785     459,784  
Tangible equity (2)   497,797     490,023     457,738  
       
Performance ratios:      
Pre-tax, pre-provision earnings on average assets (3) (4) 1.85%  2.08%  1.64% 
Return on average assets (3) (4) 1.41%  1.44%  1.07% 
Return on average stockholders’ equity (3) (4) 11.92%  11.96%  9.75% 
Return on average tangible equity (3) (4) 11.96%  12.01%  9.79% 
Efficiency ratio 57.25%  56.78%  64.98% 
Efficiency ratio excluding merger and integration costs 57.25%  56.33%  61.65% 
Net interest margin (3) (7) 3.98%  3.93%  3.89% 
Net interest margin excluding acquisition accounting (3) (7) 3.68%  3.62%  3.28% 
       
Allowance for loan losses:      
Balance at beginning of period$  42,935  $  46,362  $  52,666  
(Negative provision) provision for loan losses   (1,525)    (3,835)    (1,673) 
Net (charge-offs) recoveries   (384)    408     1,958  
Balance at end of period$  41,026  $  42,935  $  52,951  
       
Asset quality ratios:      
Nonperforming Non-PCI loans to loans (5) 0.50%  0.60%  1.05% 
Nonperforming assets to assets (5) 0.60%  0.65%  1.01% 
Net loan charge-offs (recoveries) to average loans (3) 0.05%  -0.05%  -0.28% 
Allowance for loan losses to loans 1.24%  1.35%  1.88% 
Allowance for loan losses to nonperforming Non-PCI loans (5) (6) 217.38%  196.12%  176.07% 
       
Allowance for off-balance sheet items:      
Balance at beginning of period$986  $556  $1,544  
Provision (negative provision) for loan losses 234   430   (178) 
Balance at end of period$1,220  $986  $1,366  
       
Nonperforming assets (5):      
Nonaccrual Non-PCI loans$16,276  $19,118  $29,258  
Loans 90 days or more past due and still accruing -   -   -  
Nonperforming Non-PCI loans 16,276   19,118   29,258  
OREO, net 9,411   8,511   12,114  
Nonperforming assets$25,687  $27,629  $41,372  
       
Delinquent loans:      
Loans, 30 to 89 days past due and still accruing$5,974  $4,080  $14,175  
Delinquent loans to loans 0.18%  0.13%  0.50% 
       
Acquired loans      
PCI loans, net of discounts$19,834  $20,015   41,105  
Allowance for loan losses on PCI loans$5,645  $5,441   1,435  
Non-PCI loans, net of discounts$139,869  $154,900   206,460  
Unamortized acquisition discounts on Non-PCI loans$9,021  $10,659   18,185  
       
Hanmi Financial Corporation and Subsidiaries 
Selected Financial Data (Unaudited) 
(In thousands, except ratios) 
       
 March 31, December 31, March 31, 
  2016   2015   2015  
Loan portfolio:      
Commercial real estate loans$2,729,527  $2,611,939  $2,386,366  
Residential real estate loans 256,488   238,733   156,706  
Commercial and industrial loans 295,632   306,462   250,941  
Consumer loans 24,832   26,182   26,018  
Loans receivable 3,306,479   3,183,316   2,820,031  
Loans held for sale, at the lower of cost or fair value 2,583   2,874   8,677  
Total loans$3,309,062  $3,186,190  $2,828,708  
       
Loan mix:      
Commercial real estate loans 82.4%  82.0%  84.3% 
Residential real estate loans 7.8%  7.5%  5.5% 
Commercial and industrial loans 8.9%  9.6%  8.9% 
Consumer loans 0.8%  0.8%  0.9% 
Loans held for sale, at the lower of cost or fair value 0.1%  0.1%  0.4% 
Total loans 100.0%  100.0%  100.0% 
       
Deposit portfolio:      
Demand: noninterest-bearing$1,172,444  $1,155,518  $1,064,695  
interest-bearing 99,141   94,583   95,365  
Money market and savings 931,915   871,863   830,928  
Time deposits of $250,000 or less 948,346   1,010,923   1,186,565  
Time deposits of more than $250,000 348,146   377,089   375,123  
Total deposits$3,499,992  $3,509,976  $3,552,676  
       
Deposit mix:      
Demand: noninterest-bearing 33.5%  32.9%  30.0% 
interest-bearing 2.8%  2.7%  2.7% 
Money market and savings 26.6%  24.8%  23.4% 
Time deposits of $250,000 or less 27.1%  28.8%  33.3% 
Time deposits of more than $250,000 10.0%  10.8%  10.6% 
Total deposits 100.0%  100.0%  100.0% 
       
Capital ratios (8) (9):      
Hanmi Financial      
Total risk-based capital 14.71%  14.91%  15.23% 
Tier 1 risk-based capital 13.45%  13.65%  13.97% 
Common equity tier 1 capital 13.45%  13.65%  13.97% 
Tier 1 leverage capital ratio 11.29%  11.31%  10.29% 
Hanmi Bank      
Total risk-based capital 14.66%  14.86%  15.15% 
Tier 1 risk-based capital 13.40%  13.60%  13.89% 
Common equity tier 1 capital 13.40%  13.60%  13.89% 
Tier 1 leverage capital ratio 11.25%  11.27%  10.23% 
       
(1) Includes loans held for sale      
(2) Refer to "Non-GAAP Financial Measures" for further details.     
(3) Annualized      
(4) Amount calculated based on net income from continuing operations     
(5) Excludes PCI loans      
(6) Excludes allowance for loan losses allocated to PCI loans     
(7) Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate.  
(8) Basel III rules became effective January 1, 2015, with transitional provisions, and all prior period date is based on Basel I rules.
(9) Preliminary ratios for March 31, 2016      
       


           
Hanmi Financial Corporation and Subsidiaries          
Average Balance, Average Yield Earned and Average Rate Paid (Unaudited)
(In thousands, except ratios)           
            
 Three Months Ended
 March 31, 2016 December 31, 2015 March 31, 2015
  InterestAverage  InterestAverage  InterestAverage
 AverageIncome /Yield / AverageIncome /Yield / AverageIncome /Yield /
 BalanceExpenseRate BalanceExpenseRate BalanceExpenseRate
Assets           
Interest-earning assets:           
Loans (1)$3,192,832 $39,067  4.92% $3,049,544 $38,382  4.99% $2,821,616 $37,034  5.32%
Securities (2) 682,370  3,529  2.07%  649,565  2,968  1.83%  971,440  3,885  1.60%
FRB and FHLB stock 30,497  542  7.11%  30,483  580  7.61%  30,267  482  6.37%
Interest-bearing deposits in other banks 44,089  48  0.44%  90,653  66  0.29%  78,495  48  0.25%
Total interest-earning assets 3,949,788  43,186  4.40%  3,820,245  41,996  4.36%  3,901,818  41,449  4.31%
            
Noninterest-earning assets:           
Cash and due from banks 114,664     92,497     86,313   
Allowance for loan losses (42,519)    (46,634)    (53,319)  
Other assets 199,143     216,894     246,712   
Total noninterest-earning assets 271,288     262,757     279,706   
            
Total assets$  4,221,076     $  4,083,002     $  4,181,524    
            
Liabilities and Stockholders' Equity           
Interest-bearing liabilities:           
Deposits:           
Demand: interest-bearing$95,560 $19  0.08% $91,116 $25  0.11% $81,961 $27  0.13%
Money market and savings 902,037  1,084  0.48%  881,375  1,107  0.50%  820,725  972  0.48%
Time deposits 1,346,567  2,624  0.78%  1,425,229  2,814  0.78%  1,593,042  2,781  0.71%
FHLB advances 181,868  195  0.43%  16,739  15  0.36%  127,778  56  0.18%
Rescinded stock obligation -  -  0.00%  -  -  0.00%  438  -  0.00%
Subordinated debentures 18,722  183  3.93%  18,681  169  3.59%  18,557  145  3.17%
Total interest-bearing liabilities 2,544,754  4,105  0.65%  2,433,140  4,130  0.67%  2,642,501  3,981  0.61%
            
Noninterest-bearing liabilities:           
Demand deposits: noninterest-bearing 1,138,822     1,118,505     1,030,935   
Other liabilities 38,031     39,572     48,304   
Total noninterest-bearing liabilities 1,176,853     1,158,077     1,079,239   
            
Total liabilities 3,721,607     3,591,217     3,721,740   
Stockholders' equity 499,469     491,785     459,784   
            
Total liabilities and stockholders' equity$  4,221,076     $  4,083,002     $  4,181,524    
            
Net interest income $  39,081     $  37,866     $  37,468   
            
Cost of deposits   0.43%    0.45%    0.43%
Net interest spread   3.75%    3.69%    3.70%
Net interest margin   3.98%    3.93%    3.89%
            
(1) Includes loans held for sale           
(2) Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate.     
            

Non-GAAP Financial Measures

Tangible Common Equity to Tangible Assets Ratio

Tangible common equity to tangible assets ratio is supplemental financial information determined by a method other than in accordance with U.S. generally accepted accounting principles (“GAAP”). This non-GAAP measure is used by management in the analysis of Hanmi’s capital strength. Tangible equity is calculated by subtracting goodwill and other intangible assets from stockholders’ equity. Banking and financial institution regulators also exclude goodwill and other intangible assets from stockholders’ equity when assessing the capital adequacy of a financial institution. Management believes the presentation of this financial measure excluding the impact of these items provides useful supplemental information that is essential to a proper understanding of the capital strength of Hanmi. This disclosure should not be viewed as a substitution for results determined in accordance with GAAP, nor is it necessarily comparable to non-GAAP performance measures that may be presented by other companies.

The following table reconciles this non-GAAP performance measure to the GAAP performance measure for the periods indicated:

Tangible Common Equity to Tangible Assets Ratio (Unaudited)
(In thousands, except share, per share data and ratios)
      
 March 31, December 31, March 31,
Hanmi Financial Corporation 2016   2015   2015 
Assets$  4,310,748  $  4,234,521  $  4,084,015 
Less other intangible assets   (1,619)    (1,701)    (1,985)
Tangible assets$  4,309,129  $  4,232,820  $  4,082,030 
      
Stockholders' equity$  510,860  $  493,918  $  467,470 
Less other intangible assets   (1,619)    (1,701)    (1,985)
Tangible stockholders' equity$  509,241  $  492,217  $  465,485 
      
Stockholders' equity to assets 11.85%  11.66%  11.45%
Tangible common equity to tangible assets 11.82%  11.63%  11.40%
      
Common shares outstanding   32,249,512     31,974,359     31,933,634 
Tangible common equity per common share$  15.79  $  15.39  $  14.58 


Investor Contacts:
Romolo (Ron) Santarosa
Senior Executive Vice President & Chief Financial Officer
213-427-5636

Lasse Glassen
Investor Relations
Addo Communications
310-829-5400