UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 7.01 | Regulation FD Disclosure |
On November 18, 2024, Hanmi Financial Corporation (the “Company”), parent company of Hanmi Bank, made available and distributed to analysts and prospective investors a slide presentation. The presentation materials include information regarding the Company’s operating and growth strategies and financial performance. The slide presentation is furnished in this Current Report on Form 8-K, pursuant to this Item 7.01, as Exhibit 99.1, and is incorporated herein by reference.
This Current Report and the information included below and furnished as exhibits hereto shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), nor shall it be incorporated by reference into a filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing. The furnishing of the information in this Current Report is not intended to, and does not, constitute a determination or admission by the Company that the information in this report is material or complete, or that investors should consider this information before making an investment decision with respect to any security of the Company or any of its affiliates.
| Item 9.01 | Financial Statements and Exhibits. |
| Exhibit No. | Description | |
| 99.1 | Investor Presentation | |
| 104 | The cover page from the Company’s Form 8-K, formatted in Inline XBRL. |
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. 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 our 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 and strategic plans, and other similar forecasts and statements of expectation and statements of assumption underlying any of the foregoing. 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 our forward-looking statements to be reasonable, we cannot guarantee future results, levels of activity, performance or achievements.
Forward-looking 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 statements. These factors include the following:
| • | a failure to maintain adequate levels of capital and liquidity to support our operations; |
| • | general economic and business conditions internationally, nationally and in those areas in which we operate, including any potential recessionary conditions; |
| • | 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; |
| • | inflation and fluctuations in interest rates that reduce our margins and yields, the fair value of financial instruments, the level of loan originations or prepayments on loans we have made and make, the level of loan sales and the cost we pay to retain and attract deposits and secure other types of funding; |
| • | our ability to enter new markets successfully and capitalize on growth opportunities; |
| • | the current or anticipated impact of military conflict, terrorism or other geopolitical events; |
| • | the effect of potential future supervisory action against us or Hanmi Bank and our ability to address any issues raised in our regulatory exams; |
| • | risks of natural disasters; |
| • | legal proceedings and litigation brought against us; |
| • | a failure in or breach of our operational or security systems or infrastructure, including cyberattacks; |
| • | the failure to maintain current technologies; |
| • | risks associated with Small Business Administration loans; |
| • | failure to attract or retain key employees; |
| • | our ability to access cost-effective funding; |
| • | changes in liquidity, including the size and composition of our deposit portfolio, including the percentage of uninsured deposits in the portfolio; |
| • | fluctuations in real estate values; |
| • | changes in accounting policies and practices; |
| • | changes in governmental regulation, including, but not limited to, any increase in FDIC insurance premiums and changes in the monetary policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System; |
| • | the ability of Hanmi Bank to make distributions to Hanmi Financial Corporation, which is restricted by certain factors, including Hanmi Bank’s retained earnings, net income, prior distributions made, and certain other financial tests; |
| • | strategic transactions we may enter into; |
| • | the adequacy of and changes in the methodology for computing our allowance for credit losses; |
| • | our credit quality and the effect of credit quality on our credit losses expense and allowance for credit 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 |
| • | cyber security and fraud risks against our information technology and those of our third-party providers and vendors. |
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, 2023, 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.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HANMI FINANCIAL CORPORATION | ||
| Date: November 18, 2024 | By: | /s/ Bonita I. Lee |
| Bonita I. Lee | ||
| Chief Executive Officer | ||