UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q


☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended March 31, 2026

or


☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition Period From To

Commission File Number: 000-30421

HANMI FINANCIAL CORPORATION

(Exact Name of Registrant as Specified in its Charter)


Delaware		95-4788120
(State or Other Jurisdiction of		(I.R.S. Employer
Incorporation or Organization)		Identification No.)


900 Wilshire Boulevard, Suite 1250
Los Angeles, California		90017
(Address of Principal Executive Offices)		(Zip Code)

(213) 382-2200

(Registrant’s Telephone Number, Including Area Code)

Not Applicable

(Former Name, Former Address and Former Fiscal Year, If Changed Since Last Report)

Securities Registered Pursuant to Section 12(b) of the Act:

     Title of each class

     Trading
Symbol(s)

     Name of each exchange on which registered

     Common Stock, $0.001 par value

     HAFC

     Nasdaq Global Select Market

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


Large accelerated filer	☐	Accelerated filer	☒
Non-accelerated filer	☐	Smaller reporting company	☐
		Emerging Growth Company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

As of April 30, 2026, there were 29,766,435 outstanding shares of the Registrant’s Common Stock.

Hanmi Financial Corporation and Subsidiaries Quarterly Report on Form 10-Q

Three Months Ended March 31, 2026

Table of Contents


	Part I – Financial Information

Item 1.	Financial Statements	3

	Consolidated Balance Sheets at March 31, 2026 (unaudited) and December 31, 2025	3

	Consolidated Statements of Income for the three months ended March 31, 2026 and 2025 (unaudited)	4

	Consolidated Statements of Comprehensive Income for the three months ended March 31, 2026 and 2025 (unaudited)	5

	Consolidated Statements of Changes in Stockholders’ Equity for the three months ended March 31, 2026 and 2025 (unaudited)	6

	Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025 (unaudited)	7

	Notes to Consolidated Financial Statements (unaudited)	8

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	39

Item 3.	Quantitative and Qualitative Disclosures About Market Risk	55

Item 4.	Controls and Procedures	55

	Part II – Other Information

Item 1.	Legal Proceedings	56

Item 1A.	Risk Factors	56

Item 2.	Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities	56

Item 3.	Defaults Upon Senior Securities	56

Item 4.	Mine Safety Disclosures	56

Item 5.	Other Information	56

Item 6.	Exhibits	57

Signatures		58

Part I — Financial Information

Item 1. Financial Statements

Hanmi Financial Corporation and Subsidiaries

Consolidated Balance Sheets

(in thousands, except share data)


	March 31,			December 31,
	2026			2025
	(Unaudited)
Assets
Cash and due from banks	$	254,045		$	212,841
Securities available for sale, at fair value (amortized cost of $900,018 and $941,760 as of March 31, 2026 and December 31, 2025, respectively)		835,725			880,624
Loans held for sale, at the lower of cost or fair value		4,932			7,403
Loans, net of allowance for credit losses of $70,468 and $69,903 as of March 31, 2026 and December 31, 2025, respectively		6,474,998			6,493,465
Accrued interest receivable		23,320			24,466
Premises and equipment, net		20,015			20,378
Customers' liability on acceptances		—			125
Servicing assets		6,535			6,459
Goodwill		11,031			11,031
Federal Home Loan Bank ("FHLB") stock, at cost		16,385			16,385
Income tax assets		37,537			40,467
Bank-owned life insurance		56,534			56,697
Prepaid expenses and other assets		98,170			98,844
Total assets	$	7,839,227		$	7,869,185

Liabilities and Stockholders’ Equity
Liabilities:
Deposits:
Noninterest-bearing	$	2,030,743		$	2,015,212
Interest-bearing		4,769,879			4,662,438
Total deposits		6,800,622			6,677,650
Accrued interest payable		30,592			34,783
Bank's liability on acceptances		—			125
Borrowings		—			150,000
Subordinated debentures		130,618			130,463
Accrued expenses and other liabilities		74,576			79,778
Total liabilities		7,036,408			7,072,799
Stockholders’ equity:
Preferred stock, $0.001 par value; authorized 10,000,000 shares; no shares issued as of March 31, 2026 and December 31, 2025		—			—
Common stock, $0.001 par value; authorized 62,500,000 shares; issued 34,426,691 shares (29,806,694 shares outstanding) and 34,287,779 shares (29,894,757 shares outstanding) as of March 31, 2026 and December 31, 2025, respectively		34			34
Additional paid-in capital		595,374			594,667
Accumulated other comprehensive loss, net of tax benefit of $18,717 and $17,822 as of March 31, 2026 and December 31, 2025, respectively		(45,553	)		(43,175	)
Retained earnings		408,327			394,335
Less treasury stock; 4,619,997 shares and 4,393,022 shares as of March 31, 2026 and December 31, 2025, respectively		(155,363	)		(149,475	)
Total stockholders’ equity		802,819			796,386
Total liabilities and stockholders’ equity	$	7,839,227		$	7,869,185

See Accompanying Notes to Consolidated Financial Statements (Unaudited)

Hanmi Financial Corporation and Subsidiaries

Consolidated Statements of Income (Unaudited)

(in thousands, except share and per share data)


	Three Months Ended
	March 31,
	2026		2025
Interest and dividend income:
Interest and fees on loans	$	93,866	$	90,887
Interest on securities		5,959		6,169
Dividends on FHLB stock		831		360
Interest on deposits in other banks		1,496		1,841
Total interest and dividend income		102,152		99,257
Interest expense:
Interest on deposits		36,738		40,559
Interest on borrowings		676		2,024
Interest on subordinated debentures		1,535		1,582
Total interest expense		38,949		44,165
Net interest income before credit loss expense		63,203		55,092
Credit loss expense		2,892		2,721
Net interest income after credit loss expense		60,311		52,371
Noninterest income:
Service charges on deposit accounts		2,127		2,217
Trade finance and other service charges and fees		1,501		1,396
Gain on sale of Small Business Administration ("SBA") loans		2,102		2,000
Gain on sale of residential mortgage loans		485		175
Other operating income		2,324		1,938
Total noninterest income		8,539		7,726
Noninterest expense:
Salaries and employee benefits		21,956		20,972
Occupancy and equipment		4,414		4,450
Data processing		4,386		3,787
Professional fees		2,780		1,468
Supplies and communications		556		517
Advertising and promotion		688		585
Other operating expenses		3,588		3,205
Total noninterest expense		38,368		34,984
Income before tax		30,482		25,113
Income tax expense		7,925		7,441
Net income	$	22,557	$	17,672
Basic earnings per share	$	0.76	$	0.59
Diluted earnings per share	$	0.75	$	0.58
Weighted-average shares outstanding:
Basic		29,629,130		29,937,660
Diluted		29,808,999		30,058,248

See Accompanying Notes to Consolidated Financial Statements (Unaudited)

Hanmi Financial Corporation and Subsidiaries

Consolidated Statements of Comprehensive Income (Unaudited)

(in thousands)


	Three Months Ended
	March 31,
	2026			2025

Net income	$	22,557		$	17,672
Other comprehensive income (loss), net of tax:
Unrealized gain (loss):
Unrealized holding gain (loss) on available for sale securities		(3,157	)		14,542
Unrealized gain (loss) on cash flow hedges		(57	)		190
Unrealized gain (loss)		(3,214	)		14,732
Income tax benefit (expense) related to other comprehensive income items		879			(4,183	)
Other comprehensive income (loss)		(2,335	)		10,549

Reclassification adjustment for (gains) losses included in net income		(60	)		245
Income tax benefit (expense) related to reclassification adjustment		17			(73	)
Reclassification adjustment for (gains) losses included in net income, net of tax		(43	)		172
Other comprehensive income (loss), net of tax		(2,378	)		10,721
Total comprehensive income	$	20,179		$	28,393

See Accompanying Notes to Consolidated Financial Statements (Unaudited)

Hanmi Financial Corporation and Subsidiaries

Consolidated Statements of Changes in Stockholders’ Equity (Unaudited)

For the Three Months Ended March 31, 2026 and 2025

(in thousands, except share data)


	Common Stock - Number of Shares								Stockholders' Equity
													Accumulated
											Additional		Other						Treasury			Total
	Shares		Treasury			Shares			Common		Paid-in		Comprehensive			Retained			Stock,			Stockholders'
	Issued		Shares			Outstanding			Stock		Capital		Loss			Earnings			at Cost			Equity

Balance at January 1, 2026		34,287,779		(4,393,022	)		29,894,757		$	34	$	594,667	$	(43,175	)	$	394,335		$	(149,475	)	$	796,386
Net income		—		—			—			—		—		—			22,557			—			22,557
Change in unrealized gain (loss) on securities available for sale, net of income taxes		—		—			—			—		—		(2,293	)		—			—			(2,293	)
Change in unrealized gain (loss) on cash flow hedge, net of income taxes		—		—			—			—		—		(85	)		—			—			(85	)
Cash dividends paid (common stock, $0.28/share)		—		—			—			—		—		—			(8,565	)		—			(8,565	)
Repurchase of common stock		—		(185,707	)		(185,707	)		—		—		—			—			(4,808	)		(4,808	)
Issuance of awards pursuant to equity incentive plans, net of forfeitures		138,912		—			138,912			—		—		—			—			—			—
Share-based compensation expense		—		—			—			—		707		—			—			—			707
Shares surrendered to satisfy tax liability upon vesting of equity awards		—		(41,268	)		(41,268	)		—		—		—			—			(1,080	)		(1,080	)
Balance at March 31, 2026		34,426,691		(4,619,997	)		29,806,694		$	34	$	595,374	$	(45,553	)	$	408,327		$	(155,363	)	$	802,819

Balance at January 1, 2025		34,151,464		(3,955,465	)		30,195,999		$	34	$	591,069	$	(70,723	)	$	350,869		$	(139,075	)	$	732,174
Net income		—		—			—			—		—		—			17,672			—			17,672
Change in unrealized gain (loss) on securities available for sale, net of income taxes		—		—			—			—		—		10,411			—			—			10,411
Change in unrealized gain (loss) on cash flow hedge, net of income taxes		—		—			—			—		—		310			—			—			310
Cash dividends paid (common stock, $0.27/share)		—		—			—			—		—		—			(8,252	)		—			(8,252	)
Repurchase of common stock		—		(50,000	)		(50,000	)		—		—		—			—			(1,124	)		(1,124	)
Issuance of awards pursuant to equity incentive plans, net of forfeitures		113,566		—			113,566			—		—		—			—			—			—
Share-based compensation expense		—		—			—			—		873		—			—			—			873
Shares surrendered to satisfy tax liability upon vesting of equity awards		—		(26,051	)		(26,051	)		—		—		—			—			(579	)		(579	)
Balance at March 31, 2025		34,265,030		(4,031,516	)		30,233,514		$	34	$	591,942	$	(60,002	)	$	360,289		$	(140,778	)	$	751,485

See Accompanying Notes to Consolidated Financial Statements (Unaudited)

Hanmi Financial Corporation and Subsidiaries

Consolidated Statements of Cash Flows (Unaudited)

(in thousands)


	Three Months Ended March 31,
	2026			2025
Cash flows from operating activities:
Net income	$	22,557		$	17,672
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		862			801
Amortization of servicing assets - net		612			668
Share-based compensation expense		707			873
Credit loss expense		2,892			2,721
Gain on sales of other real estate owned		(850	)		—
Gain on sales of SBA loans		(2,102	)		(2,000	)
Origination of loans held for sale		(62,542	)		(35,420	)
Proceeds from sales of loans		67,749			45,007
Gain on sales of residential mortgage loans		(485	)		(175	)
Change in bank-owned life insurance		163			(308	)
Change in prepaid expenses and other assets		(211	)		1,157
Change in income tax assets		3,808			2,660
Change in accrued interest payable and other liabilities		(9,283	)		(7,298	)
Net cash provided by operating activities		23,877			26,358
Cash flows from investing activities:
Purchases of securities available for sale		(35,715	)		(32,466	)
Proceeds from matured, called and repayment of securities		76,846			45,141
Purchases of loans		—			(34,301	)
Purchases of premises and equipment		(499	)		(263	)
Proceeds from disposition of premises and equipment		—			14
Proceeds from sales of other real estate owned ("OREO")		2,830			—
Change in loans, excluding purchases and sales		15,155			(9,122	)
Net cash provided by (used in) investing activities		58,617			(30,997	)
Cash flows from financing activities:
Change in deposits		122,972			183,699
Change in open FHLB advances		—			(145,000	)
Repayments of FHLB term advances		(150,000	)		—
Cash paid for surrendered employee vested shares due to tax liability		(1,080	)		(579	)
Repurchase of common stock		(4,812	)		(1,125	)
Cash dividends paid		(8,370	)		(8,153	)
Net cash provided by (used in) financing activities		(41,290	)		28,842
Net increase in cash and due from banks		41,204			24,203
Cash and due from banks at beginning of year		212,841			304,800
Cash and due from banks at end of period	$	254,045		$	329,003
Supplemental disclosures of cash flow information:
Interest paid	$	43,140		$	49,343
Income taxes paid	$	336		$	550
Non-cash activities:
Income tax benefit (expense) related to other comprehensive income items	$	896		$	(4,256	)
Right-of-use asset obtained in exchange for lease liability	$	(3,722	)	$	(4,442	)

See Accompanying Notes to Consolidated Financial Statements (Unaudited)

Hanmi Financial Corporation and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Note 1 — Organization and Basis of Presentation

Hanmi Financial Corporation (“Hanmi Financial,” the “Company,” “we,” “us” or “our”) is a bank holding company whose primary subsidiary is Hanmi Bank (the “Bank”). Our primary operations are related to traditional banking activities, including the acceptance of deposits and the lending and investing of money by the Bank.

In management’s opinion, the accompanying unaudited consolidated financial statements of Hanmi Financial and its subsidiaries reflect all adjustments of a normal and recurring nature that are necessary for a fair presentation of the results for the interim period ended March 31, 2026. Certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been condensed or omitted. The unaudited consolidated financial statements are prepared in conformity with GAAP and in accordance with the instructions to Form 10-Q pursuant to the rules and regulations of the Securities and Exchange Commission. Operating results for the three-month period ended March 31, 2026 are not necessarily indicative of the results that may be expected for the year ended December 31, 2026 or for any other period. The interim information should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Annual Report on Form 10-K”).

The preparation of interim unaudited consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates and assumptions affect the amounts reported in the unaudited financial statements and disclosures provided, and actual results could differ.

Descriptions of our significant accounting policies are included in Note 1 - Summary of Significant Accounting Policies in the Notes to Consolidated Financial Statements in the 2025 Annual Report on Form 10-K.

Accounting Standards Adopted in 2026

The Company has not adopted any accounting standards in 2026.

Recently Issued Accounting Standards Not Yet Effective

ASU 2024-03, Income Statement Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40), as amended by ASU 2025-01, Clarifying the Effective Date: In November 2024, the FASB issued ASU 2024-03 to require additional information about specific expense categories in the financial statement notes at interim and annual reporting periods. The amendments in this ASU do not change or remove current expense disclosure requirements. The amendments affect where the information appears in the financial statement notes. ASU 2025-01 amends the changes in ASU 2024-03 to be effective for fiscal years beginning after December 15, 2026. The adoption of ASU 2024-03 is not expected to have a material effect on the Company’s operating results or financial condition.

ASU 2025-06, Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software: In September 2025, the FASB issued ASU 2025-06 to simplify the accounting for internal-use software by replacing the existing project-stage-based model with a principles-based approach to determine capitalizable versus non-capitalizable costs. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, with early adoption permitted. The adoption of ASU 2025-06 is not expected to have a material effect on the Company’s operating results or financial condition.

ASU 2025-08, Financial Instruments - Credit Losses (Topic 316): Purchased Loans: In November 2025, the FASB issued ASU 2025-08 to improve the accounting for acquired financial assets by expanding the gross-up approach to all purchased loans and eliminating the previous duplication inherent in Day 1 credit loss measurement. ASU 2025-08 is effective for fiscal years beginning after December 15, 2026, with early adoption permitted. The adoption of ASU 2025-08 is not expected to have a material effect on the Company's operating results or financial condition.

ASU 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements: In November 2025, the FASB issued ASU 2025-09 to more closely align hedge accounting with the economics of an entity's risk management activities by enabling entities to achieve and maintain hedge accounting for highly effective economic hedges of forecasted transactions. ASU 2025-09 is effective for fiscal years beginning after December 15, 2026, with early adoption permitted. The adoption of ASU 2025-08 is not expected to have a material effect on the Company's operating results or financial condition.

Note 2 — Securities

The following is a summary of securities available for sale as of the dates indicated:


			Gross		Gross			Estimated
	Amortized		Unrealized		Unrealized			Fair
	Cost		Gain		Loss			Value
	(in thousands)
March 31, 2026
U.S. Treasury securities	$	128,708	$	107	$	(224	)	$	128,591
U.S. government agency and sponsored agency obligations:
Mortgage-backed securities - residential		399,917		608		(39,165	)		361,360
Mortgage-backed securities - commercial		74,289		75		(11,466	)		62,898
Collateralized mortgage obligations		169,268		1,008		(6,117	)		164,159
Debt securities		53,062		—		(779	)		52,283
Total U.S. government agency and sponsored agency obligations		696,536		1,691		(57,527	)		640,700
Municipal bonds-tax exempt		74,774		—		(8,340	)		66,434
Total securities available for sale	$	900,018	$	1,798	$	(66,091	)	$	835,725

December 31, 2025
U.S. Treasury securities	$	128,569	$	298	$	(157	)	$	128,710
U.S. government agency and sponsored agency obligations:
Mortgage-backed securities - residential		411,223		926		(38,741	)		373,408
Mortgage-backed securities - commercial		71,751		116		(11,295	)		60,572
Collateralized mortgage obligations		188,120		1,768		(5,933	)		183,955
Debt securities		67,059		—		(1,105	)		65,954
Total U.S. government agency and sponsored agency obligations		738,153		2,810		(57,074	)		683,889
Municipal bonds-tax exempt		75,038		—		(7,013	)		68,025
Total securities available for sale	$	941,760	$	3,108	$	(64,244	)	$	880,624

The amortized cost and estimated fair value of securities as of March 31, 2026 and December 31, 2025, by contractual or expected maturity, are shown below. Collateralized mortgage obligations are included in the table shown below based on their expected maturities. All other securities are included based on their contractual maturities. Mortgage-backed securities included in the table below may mature before their contractual maturities.


	March 31, 2026				December 31, 2025
	Available for Sale				Available for Sale
	Amortized		Estimated		Amortized		Estimated
	Cost		Fair Value		Cost		Fair Value
	(in thousands)
Within one year	$	155,672	$	155,029	$	159,050	$	158,399
Over one year through five years		52,718		51,631		65,994		64,919
Over five years through ten years		269,806		243,477		234,306		213,596
Over ten years		421,822		385,588		482,410		443,710
Total	$	900,018	$	835,725	$	941,760	$	880,624

The following table summarizes debt securities available for sale in an unrealized loss position for which an allowance for credit losses has not been recorded at March 31, 2026 or December 31, 2025, aggregated by major security type and length of time in a continuous unrealized loss position:


	Holding Period
	Less than 12 Months							12 Months or More							Total
	Gross			Estimated		Number		Gross			Estimated		Number		Gross			Estimated		Number
	Unrealized			Fair		of		Unrealized			Fair		of		Unrealized			Fair		of
	Loss			Value		Securities		Loss			Value		Securities		Loss			Value		Securities
	(in thousands, except number of securities)
March 31, 2026
U.S. Treasury securities	$	(108	)	$	43,060		13	$	(116	)	$	10,389		3	$	(224	)	$	53,449		16
U.S. government agency and sponsored agency obligations:
Mortgage-backed securities - residential		(246	)		17,161		5		(38,919	)		309,753		114		(39,165	)		326,914		119
Mortgage-backed securities - commercial		(88	)		4,697		2		(11,378	)		48,831		15		(11,466	)		53,528		17
Collateralized mortgage obligations		(33	)		13,942		4		(6,084	)		43,879		21		(6,117	)		57,821		25
Debt securities		—			—		—		(779	)		52,284		10		(779	)		52,283		10
Total U.S. government agency and sponsored agency obligations		(367	)		35,800		11		(57,160	)		454,747		160		(57,527	)		490,546		171
Municipal bonds-tax exempt		—			—		—		(8,340	)		66,434		19		(8,340	)		66,434		19
Total	$	(475	)	$	78,860		24	$	(65,616	)	$	531,570		182	$	(66,091	)	$	610,429		206

December 31, 2025
U.S. Treasury securities	$	—		$	4,999		1	$	(157	)	$	10,351		3	$	(157	)	$	15,350		4
U.S. government agency and sponsored agency obligations:
Mortgage-backed securities - residential		(46	)		4,629		2		(38,695	)		322,912		114		(38,741	)		327,541		116
Mortgage-backed securities - commercial		—			—		—		(11,295	)		54,316		16		(11,295	)		54,316		16
Collateralized mortgage obligations		—			—		—		(5,933	)		50,264		24		(5,933	)		50,264		24
Debt securities		—			—		—		(1,105	)		65,954		13		(1,105	)		65,954		13
Total U.S. government agency and sponsored agency obligations		(46	)		4,629		2		(57,028	)		493,446		167		(57,074	)		498,075		169
Municipal bonds-tax exempt		—			—		—		(7,013	)		68,025		19		(7,013	)		68,025		19
Total	$	(46	)	$	9,628		3	$	(64,198	)	$	571,822		189	$	(64,244	)	$	581,450		192

The Company evaluates its available for sale securities portfolio for impairment on a quarterly basis. The Company did not recognize unrealized losses in income because it has the ability and the intent to hold and does not expect to be required to sell these securities until the recovery of their cost basis. The quarterly impairment assessment takes into account the changes in the credit quality of these debt securities since acquisition and the likelihood of a credit loss occurring over the life of the securities. If a credit loss is expected to occur, an allowance is established and a corresponding credit loss is recognized. Based on this analysis, the Company determined that no credit losses are expected to be realized on the tax-exempt municipal bond portfolio. The remainder of the securities portfolio consists of U.S. Treasury obligations, U.S. government agency securities, and U.S. government sponsored agency securities, all of which have the backing of the U.S. government, and are therefore not expected to incur credit losses.

There were no sales of securities during the three months ended March 31, 2026 or March 31, 2025.

As of March 31, 2026 and December 31, 2025, there were no securities available for sale that were pledged to secure advances or other borrowings.

At March 31, 2026, there were no holdings of securities of any one issuer, other than the U.S. government and its agencies, in an amount greater than 10% of stockholders’ equity.

Note 3 — Loans

Loans, net of allowance for credit losses

Loans, net of allowance for credit losses, consisted of the following as of the dates indicated:


	March 31, 2026			December 31, 2025
	(in thousands)
Real estate loans:
Commercial property
Retail	$	1,167,739		$	1,132,439
Hospitality		865,202			847,989
Office		486,537			503,268
Other (1)		1,464,915			1,532,667
Total commercial property loans		3,984,393			4,016,363
Construction		13,751			13,742
Residential (2)		1,002,223			1,049,872
Total real estate loans		5,000,367			5,079,977
Commercial and industrial loans		1,152,544			1,074,908
Equipment financing agreements		392,555			408,483
Total loans		6,545,466			6,563,368
Allowance for credit losses		(70,468	)		(69,903	)
Total loans, net of allowance for credit losses	$	6,474,998		$	6,493,465

(1)

Includes, among other property types, mixed-use, gas station, multifamily, industrial, and faith-based facilities; the remaining real estate categories represent less than 1% of the Bank's total loans.

(2)

Includes $0.9 million and $1.0 million of home equity loans and lines, and $5.6 million and $3.8 million of personal loans at March 31, 2026 and December 31, 2025, respectively.

Accrued interest on loans was $20.1 million and $20.7 million at March 31, 2026 and December 31, 2025, respectively.

At March 31, 2026 and December 31, 2025, loans with carrying values of $2.26 billion and $2.40 billion, respectively, were pledged to secure advances from the FHLB, and loans with carrying values of $515.7 million and $528.1 million, respectively, were pledged to the Federal Reserve Bank of San Francisco Discount Window.

Loans Held for Sale

Activity in loans held for sale is presented below for the following periods:


	Real Estate			Commercial and Industrial			Total
	(in thousands)
Three months ended March 31, 2026
Balance at beginning of period	$	4,985		$	2,418		$	7,403
Originations and transfers		51,624			10,918			62,542
Sales		(53,127	)		(11,117	)		(64,244	)
Principal paydowns and amortization		(768	)		(1	)		(769	)
Balance at end of period	$	2,714		$	2,218		$	4,932

Three months ended March 31, 2025
Balance at beginning of period	$	3,994		$	4,585		$	8,579
Originations and transfers		18,615			16,805			35,420
Sales		(17,594	)		(14,570	)		(32,164	)
Principal paydowns and amortization		—			(4	)		(4	)
Balance at end of period	$	5,015		$	6,816		$	11,831

All loans sold during the three months ended March 31, 2026, were sold from the held for sale portfolio. During 2025, we sold residential mortgage loans from the held for investment portfolio when the decision to sell the loans and the sale of the loans occurred within the same quarter. During the three months ended March 31, 2025, we sold $10.0 million of residential mortgage loans from the held for investment portfolio, and none from the held for sale portfolio.

Loan Purchases

The following table presents loans purchased by portfolio segment for the following periods:


	Three Months Ended
	March 31,
	2026		2025
	(in thousands)
Commercial real estate	$	—	$	15,113
Commercial and industrial		—		9,203
Residential real estate		—		9,985
Total	$	—	$	34,301

Allowance for Credit Losses

The following table details the information on the allowance for credit losses by portfolio segment for the following periods:


	Real Estate			Commercial and Industrial			Equipment Financing Agreements			Total
	(in thousands)
Three months ended March 31, 2026
Balance at beginning of period	$	51,670		$	7,792		$	10,441		$	69,903
Charge-offs		(132	)		(127	)		(2,912	)		(3,171	)
Recoveries		45			39			489			573
Credit loss expense (recovery)		(1,475	)		1,107			3,531			3,163
Ending balance	$	50,108		$	8,811		$	11,549		$	70,468

Three months ended March 31, 2025
Balance at beginning of period	$	45,099		$	10,006		$	15,042		$	70,147
Charge-offs		(169	)		(222	)		(2,798	)		(3,189	)
Recoveries		424			36			783			1,243
Credit loss expense (recovery)		5,948			(3,578	)		26			2,396
Ending balance	$	51,302		$	6,242		$	13,053		$	70,597

The table below presents the allowance for credit losses by portfolio segment as a percentage of the total allowance for credit losses and loans by portfolio segment as a percentage of the total investment in loans as of:


	March 31, 2026										December 31, 2025
	Allowance					Loans					Allowance					Loans
	Amount		%			Amount		%			Amount		%			Amount		%
	(dollars in thousands)
Real estate loans:
Commercial property
Retail	$	9,623		13.7	%	$	1,167,739		17.8	%	$	9,999		14.3	%	$	1,132,439		17.3	%
Hospitality		8,098		11.5			865,202		13.2			8,737		12.5			847,989		12.9
Office		5,253		7.5			486,537		7.4			5,700		8.2			503,268		7.7
Other		13,629		19.4			1,464,915		22.4			14,078		20.1			1,532,667		23.4
Total commercial property loans		36,603		51.9			3,984,393		60.9			38,514		55.1			4,016,363		61.3
Construction		201		0.3			13,751		0.2			208		0.3			13,742		0.2
Residential		13,304		18.9			1,002,223		15.3			12,948		18.5			1,049,872		16.0
Total real estate loans		50,108		71.2			5,000,367		76.5			51,670		73.9			5,079,977		77.5
Commercial and industrial loans		8,811		12.4			1,152,544		17.6			7,792		11.1			1,074,908		16.4
Equipment financing agreements		11,549		16.4			392,555		6.0			10,441		15.0			408,483		6.1
Total	$	70,468		100.0	%	$	6,545,466		100.0	%	$	69,903		100.0	%	$	6,563,368		100.0	%

The following table represents the amortized cost basis of collateral-dependent loans by class, for which repayment is expected to be obtained through the sale or operation of the underlying collateral, as of:


	March 31, 2026		December 31, 2025
	(in thousands)
Real estate loans:
Commercial property
Retail	$	436	$	596
Hospitality		3,175		—
Office		337		10,159
Other		1,156		671
Total commercial property loans		5,104		11,426
Residential		2,005		1,113
Total real estate loans		7,109		12,539
Total	$	7,109	$	12,539

Loan Quality Indicators

As part of the on-going monitoring of the quality of our loans portfolio, we utilize an internal loan grading system to identify credit risk and assign an appropriate grade (from 1 to 8) for each loan in our portfolio. Third-party loan reviews are conducted annually on a sample basis. Additional adjustments are made when determined to be necessary. The loan grade definitions are as follows:

Pass and Pass-Watch: Pass loans, grades (1-4), are in compliance with the Bank’s credit policy and regulatory requirements and do not exhibit any potential or defined weaknesses as defined under “Special Mention”, “Substandard” or “Doubtful.” This category is the strongest level of the Bank’s loan grading system. It consists of all performing loans with no identified credit weaknesses. It includes cash and stock/security secured loans or other investment grade loans. Pass-Watch loans, grade (4), require enhanced attention due to financial or other circumstances facing the borrowers, which may adversely affect future financial performance.

Special Mention: A Special Mention loan, grade (5), has potential weaknesses that deserve management’s close attention. If not corrected, these potential weaknesses may result in deterioration of the repayment of the debt and result in a Substandard classification. Loans that have significant actual, not potential, weaknesses are considered more severely classified.

Substandard: A Substandard loan, grade (6), has a well-defined weakness that jeopardizes the liquidation of the debt. A loan graded Substandard is not protected by the sound worth and paying capacity of the borrower, or of the value and type of collateral pledged. With a Substandard loan, there is a distinct possibility that the Bank will sustain some loss if the weaknesses or deficiencies are not corrected.

Doubtful: A Doubtful loan, grade (7), is one that has critical weaknesses that would make the collection or liquidation of the full amount due improbable. However, there may be pending events which may work to strengthen the loan, and therefore the amount or timing of a possible loss cannot be determined at the current time.

Loss: A loan classified as Loss, grade (8), is considered uncollectible and of such little value that their continuance as active bank assets is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this asset even though partial recovery may be possible in the future. Loans classified as Loss will be charged off in a timely manner.

Under regulatory guidance, loans graded special mention or worse are considered criticized loans, and loans graded substandard or worse are considered classified loans.

Loans by Vintage Year and Risk Rating


	Term Loans
	Amortized Cost Basis by Origination Year (1)
	2026		2025			2024		2023		2022			Prior			Revolving Loans Amortized Cost Basis			Total
	(in thousands)
March 31, 2026
Real estate loans:
Commercial property
Risk Rating
Pass / Pass-Watch	$	393,929	$	935,164		$	382,505	$	404,811	$	799,378		$	924,146		$	55,860		$	3,895,793
Special Mention		811		54,758			—		21,762		596			1,650			—			79,577
Classified		—		3,771			—		—		1,347			3,905			—			9,023
Total commercial property		394,740		993,693			382,505		426,573		801,321			929,701			55,860			3,984,393
YTD gross charge-offs		—		—			—		—		40			92			—			132
YTD net charge-offs (recoveries)		—		(2	)		—		—		41			50			—			89

Construction
Risk Rating
Pass / Pass-Watch		—		9,753			3,998		—		—			—			—			13,751
Special Mention		—		—			—		—		—			—			—			—
Classified		—		—			—		—		—			—			—			—
Total construction		—		9,753			3,998		—		—			—			—			13,751
YTD gross charge-offs		—		—			—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—			—		—		—			—			—			—

Residential
Risk Rating
Pass / Pass-Watch		29,143		225,155			68,357		132,608		313,940			221,289			6,180			996,672
Special Mention		—		—			—		—		2,416			—			—			2,416
Classified		—		—			682		892		1,114			447			—			3,135
Total residential		29,143		225,155			69,039		133,500		317,470			221,736			6,180			1,002,223
YTD gross charge-offs		—		—			—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—			—		—		—			(2	)		—			(2	)

Total real estate loans
Risk Rating
Pass / Pass-Watch		423,072		1,170,072			454,860		537,419		1,113,318			1,145,435			62,040			4,906,216
Special Mention		811		54,758			—		21,762		3,012			1,650			—			81,993
Classified		—		3,771			682		892		2,461			4,352			—			12,158
Total real estate loans		423,883		1,228,601			455,542		560,073		1,118,791			1,151,437			62,040			5,000,367
YTD gross charge-offs		—		—			—		—		40			92			—			132
YTD net charge-offs (recoveries)		—		(2	)		—		—		41			48			—			87

Commercial and industrial loans:
Risk Rating
Pass / Pass-Watch		211,962		318,176			147,703		37,688		32,825			25,923			360,845			1,135,122
Special Mention		253		—			36		—		11,399			—			—			11,688
Classified		—		19			5,105		43		136			31			400			5,734
Total commercial and industrial loans		212,215		318,195			152,844		37,731		44,360			25,954			361,245			1,152,544
YTD gross charge-offs		—		—			76		—		—			51			—			127
YTD net charge-offs (recoveries)		—		—			76		—		(24	)		37			(1	)		88

Equipment financing agreements:
Risk Rating
Pass / Pass-Watch		41,008		129,519			77,544		72,870		52,847			13,922			—			387,710
Special Mention		—		—			—		—		—			—			—			—
Classified		—		945			772		1,062		1,415			651			—			4,845
Total equipment financing agreements		41,008		130,464			78,316		73,932		54,262			14,573			—			392,555
YTD gross charge-offs		—		1,124			301		512		799			176			—			2,912
YTD net charge-offs (recoveries)		—		1,124			259		461		678			(99	)		—			2,423

Total loans:
Risk Rating
Pass / Pass-Watch		676,042		1,617,767			680,107		647,977		1,198,990			1,185,280			422,885			6,429,048
Special Mention		1,064		54,758			36		21,762		14,411			1,650			—			93,681
Classified		—		4,735			6,559		1,997		4,012			5,034			400			22,737
Total loans	$	677,106	$	1,677,260		$	686,702	$	671,736	$	1,217,413		$	1,191,964		$	423,285		$	6,545,466
YTD gross charge-offs		—		1,124			377		512		839			319			—			3,171
YTD net charge-offs (recoveries)		—		1,122			335		461		695			(14	)		(1	)		2,598

(1)

Origination year includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision.


	Term Loans
	Amortized Cost Basis by Origination Year (1)
	2025			2024		2023		2022		2021		Prior			Revolving Loans Amortized Cost Basis			Total

December 31, 2025
Real estate loans:
Commercial property
Risk Rating
Pass / Pass-Watch	$	1,181,833		$	402,354	$	472,027	$	808,330	$	735,411	$	285,598		$	54,824		$	3,940,377
Special Mention		55,029			—		—		148		1,371		298			—			56,846
Classified		3,846			—		—		11,225		—		4,069			—			19,140
Total commercial property		1,240,708			402,354		472,027		819,703		736,782		289,965			54,824			4,016,363
YTD gross charge-offs		—			—		—		8,820		—		392			—			9,212
YTD net charge-offs (recoveries)		(8	)		—		—		8,547		—		(24	)		—			8,515

Construction
Risk Rating
Pass / Pass-Watch		9,745			3,997		—		—		—		—			—			13,742
Special Mention		—			—		—		—		—		—			—			—
Classified		—			—		—		—		—		—			—			—
Total construction		9,745			3,997		—		—		—		—			—			13,742
YTD gross charge-offs		—			—		—		—		—		—			—			—
YTD net charge-offs (recoveries)		—			—		—		—		—		—			—			—

Residential
Risk Rating
Pass / Pass-Watch		258,847			84,457		142,926		326,126		132,510		97,076			4,154			1,046,096
Special Mention		—			—		—		2,417		—		—			250			2,667
Classified		—			—		—		1,113		—		(4	)		—			1,109
Total residential		258,847			84,457		142,926		329,656		132,510		97,072			4,404			1,049,872
YTD gross charge-offs		—			—		—		—		—		—			—			—
YTD net charge-offs (recoveries)		—			—		—		—		—		(4	)		—			(4	)

Total real estate loans
Risk Rating
Pass / Pass-Watch		1,450,425			490,808		614,953		1,134,456		867,921		382,674			58,978			5,000,215
Special Mention		55,029			—		—		2,565		1,371		298			250			59,513
Classified		3,846			—		—		12,338		—		4,065			—			20,249
Total real estate loans		1,509,300			490,808		614,953		1,149,359		869,292		387,037			59,228			5,079,977
YTD gross charge-offs		—			—		—		8,820		—		392			—			9,212
YTD net charge-offs (recoveries)		(8	)		—		—		8,547		—		(28	)		—			8,511

Commercial and industrial loans:
Risk Rating
Pass / Pass-Watch		426,520			168,307		40,485		44,797		19,772		16,931			345,975			1,062,787
Special Mention		—			—		—		11,600		—		—			—			11,600
Classified		—			—		—		148		—		21			352			521
Total commercial and industrial loans		426,520			168,307		40,485		56,545		19,772		16,952			346,327			1,074,908
YTD gross charge-offs		19			373		59		853		82		322			—			1,708
YTD net charge-offs (recoveries)		19			366		54		750		82		46			(2,723	)		(1,406	)

Equipment financing agreements:
Risk Rating
Pass / Pass-Watch		144,142			87,819		85,652		65,042		19,188		1,529			—			403,372
Special Mention		—			—		—		—		—		—			—			—
Classified		506			726		1,202		1,962		583		132			—			5,111
Total equipment financing agreements		144,648			88,545		86,854		67,004		19,771		1,661			—			408,483
YTD gross charge-offs		—			875		2,728		4,658		1,706		159			—			10,126
YTD net charge-offs (recoveries)		—			831		2,297		3,579		831		(234	)		(2	)		7,302

Total loans:
Risk Rating
Pass / Pass-Watch		2,021,087			746,934		741,090		1,244,295		906,881		401,134			404,953			6,466,374
Special Mention		55,029			—		—		14,165		1,371		298			250			71,113
Classified		4,352			726		1,202		14,448		583		4,218			352			25,881
Total loans	$	2,080,468		$	747,660	$	742,292	$	1,272,908	$	908,835	$	405,650		$	405,555		$	6,563,368
YTD gross charge-offs		19			1,248		2,787		14,331		1,788		873			—			21,046
YTD net charge-offs (recoveries)		11			1,197		2,351		12,876		913		(216	)		(2,725	)		14,407

(1)

Origination year includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision.

Loans by Vintage Year and Payment Performance


	Term Loans
	Amortized Cost Basis by Origination Year (1)
	2026		2025			2024		2023		2022			Prior			Revolving Loans Amortized Cost Basis			Total
	(in thousands)
March 31, 2026
Real estate loans:
Commercial property
Payment performance
Performing	$	394,740	$	989,922		$	382,505	$	426,573	$	800,880		$	928,336		$	55,860		$	3,978,816
Nonperforming		—		3,771			—		—		441			1,365			—			5,577
Total commercial property		394,740		993,693			382,505		426,573		801,321			929,701			55,860			3,984,393
YTD gross charge-offs		—		—			—		—		40			92			—			132
YTD net charge-offs (recoveries)		—		(2	)		—		—		41			50			—			89

Construction
Payment performance
Performing		—		9,753			3,998		—		—			—			—			13,751
Nonperforming		—		—			—		—		—			—			—			—
Total construction		—		9,753			3,998		—		—			—			—			13,751
YTD gross charge-offs		—		—			—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—			—		—		—			—			—			—

Residential
Payment performance
Performing		29,143		225,155			69,039		132,608		316,357			221,740			6,180			1,000,222
Nonperforming		—		—			—		892		1,113			(4	)		—			2,001
Total residential		29,143		225,155			69,039		133,500		317,470			221,736			6,180			1,002,223
YTD gross charge-offs		—		—			—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—			—		—		—			(2	)		—			(2	)

Total real estate loans
Payment performance
Performing		423,883		1,224,830			455,542		559,181		1,117,237			1,150,076			62,040			4,992,789
Nonperforming		—		3,771			—		892		1,554			1,361			—			7,578
Total real estate loans		423,883		1,228,601			455,542		560,073		1,118,791			1,151,437			62,040			5,000,367
YTD gross charge-offs		—		—			—		—		40			92			—			132
YTD net charge-offs (recoveries)		—		(2	)		—		—		41			48			—			87

Commercial and industrial loans:
Payment performance
Performing		212,215		318,195			152,753		37,731		44,323			25,954			361,245			1,152,416
Nonperforming		—		—			91		—		37			—						128
Total commercial and industrial loans		212,215		318,195			152,844		37,731		44,360			25,954			361,245			1,152,544
YTD gross charge-offs		—		—			76		—		—			51			—			127
YTD net charge-offs (recoveries)		—		—			76		—		(24	)		37			(1	)		88

Equipment financing agreements:
Payment performance
Performing		41,008		129,571			77,544		72,870		52,886			13,963						387,842
Nonperforming		—		893			772		1,062		1,376			610						4,713
Total equipment financing agreements		41,008		130,464			78,316		73,932		54,262			14,573			—			392,555
YTD gross charge-offs		—		1,124			301		512		799			176			—			2,912
YTD net charge-offs (recoveries)		—		1,124			259		461		678			(99	)		—			2,423

Total loans:
Payment performance
Performing		677,106		1,672,596			685,839		669,782		1,214,446			1,189,993			423,285			6,533,047
Nonperforming		—		4,664			863		1,954		2,967			1,971			—			12,419
Total loans	$	677,106	$	1,677,260		$	686,702	$	671,736	$	1,217,413		$	1,191,964		$	423,285		$	6,545,466
YTD gross charge-offs		—		1,124			377		512		839			319			—			3,171
YTD net charge-offs (recoveries)		—		1,122			335		461		695			(14	)		(1	)		2,598

(1)

Origination year includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision.


	Term Loans
	Amortized Cost Basis by Origination Year (1)
	2025			2024		2023		2022		2021		Prior			Revolving Loans Amortized Cost Basis			Total

December 31, 2025
Real estate loans:
Commercial property
Payment performance
Performing	$	1,240,037		$	402,354	$	472,027	$	809,391	$	736,782	$	289,102		$	54,824		$	4,004,517
Nonperforming		671			—		—		10,312		—		863			—			11,846
Total commercial property		1,240,708			402,354		472,027		819,703		736,782		289,965			54,824			4,016,363
YTD gross charge-offs		—			—		—		8,820		—		392			—			9,212
YTD net charge-offs (recoveries)		(8	)		—		—		8,547		—		(24	)		—			8,515

Construction
Payment performance
Performing		9,745			3,997		—		—		—		—			—			13,742
Nonperforming		—			—		—		—		—		—			—			—
Total construction		9,745			3,997		—		—		—		—			—			13,742
YTD gross charge-offs		—			—		—		—		—		—			—			—
YTD net charge-offs (recoveries)		—			—		—		—		—		—			—			—

Residential
Payment performance
Performing		258,847			84,457		142,926		328,543		132,510		97,076			4,404			1,048,763
Nonperforming		—			—		—		1,113		—		(4	)		—			1,109
Total residential		258,847			84,457		142,926		329,656		132,510		97,072			4,404			1,049,872
YTD gross charge-offs		—			—		—		—		—		—			—			—
YTD net charge-offs (recoveries)		—			—		—		—		—		(4	)		—			(4	)

Total real estate loans
Payment performance
Performing		1,508,629			490,808		614,953		1,137,934		869,292		386,178			59,228			5,067,022
Nonperforming		671			—		—		11,425		—		859			—			12,955
Total real estate loans		1,509,300			490,808		614,953		1,149,359		869,292		387,037			59,228			5,079,977
YTD gross charge-offs		—			—		—		8,820		—		392			—			9,212
YTD net charge-offs (recoveries)		(8	)		—		—		8,547		—		(28	)		—			8,511

Commercial and industrial loans:
Payment performance
Performing		426,520			168,307		40,485		56,499		19,772		16,952			346,327			1,074,862
Nonperforming		—			—		—		46		—		—			—			46
Total commercial and industrial loans		426,520			168,307		40,485		56,545		19,772		16,952			346,327			1,074,908
YTD gross charge-offs		19			373		59		853		82		322			—			1,708
YTD net charge-offs (recoveries)		19			366		54		750		82		46			(2,723	)		(1,406	)

Equipment financing agreements:
Payment performance
Performing		144,142			87,819		85,652		65,042		19,188		1,529			—			403,372
Nonperforming		506			726		1,202		1,962		583		132			—			5,111
Total equipment financing agreements		144,648			88,545		86,854		67,004		19,771		1,661			—			408,483
YTD gross charge-offs		—			875		2,728		4,658		1,706		159			—			10,126
YTD net charge-offs (recoveries)		—			831		2,297		3,579		831		(234	)		(2	)		7,302

Total loans:
Payment performance
Performing		2,079,291			746,934		741,090		1,259,475		908,252		404,659			405,555			6,545,256
Nonperforming		1,177			726		1,202		13,433		583		991			—			18,112
Total loans	$	2,080,468		$

For the Quarterly Period Ended March 31, 2026

or

For the Transition Period From To

Commission File Number: 000-30421

(Exact Name of Registrant as Specified in its Charter)

Delaware

95-4788120

(State or Other Jurisdiction of

(I.R.S. Employer

Incorporation or Organization)

Identification No.)

900 Wilshire Boulevard, Suite 1250

Los Angeles, California

90017

(Address of Principal Executive Offices)

(Zip Code)

(213) 382-2200

Not Applicable

Part I — Financial Information

Hanmi Financial Corporation and Subsidiaries

Consolidated Statements of Comprehensive Income (Unaudited)

Hanmi Financial Corporation and Subsidiaries

Consolidated Statements of Changes in Stockholders’ Equity (Unaudited)

For the Three Months Ended March 31, 2026 and 2025

Hanmi Financial Corporation and Subsidiaries

Consolidated Statements of Cash Flows (Unaudited)

(in thousands)

Hanmi Financial Corporation and Subsidiaries

Notes to Consolidated Financial Statements (Unaudited)

Accounting Standards Adopted in 2026

Recently Issued Accounting Standards Not Yet Effective

Note 2 — Securities

Note 3 — Loans

Loans, net of allowance for credit losses

Loans Held for Sale