false 2022 Q1 0001109242 --12-31 P5Y P1Y P13Y http://fasb.org/us-gaap/2021-01-31#PrepaidExpenseAndOtherAssets http://fasb.org/us-gaap/2021-01-31#PrepaidExpenseAndOtherAssets http://fasb.org/us-gaap/2021-01-31#AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent http://fasb.org/us-gaap/2021-01-31#AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent 2022 P3Y 0.025 0.020 0.004 0.010 0.028 0.020 0.019 0.020 http://fasb.org/us-gaap/2021-01-31#MarketApproachValuationTechniqueMember http://fasb.org/us-gaap/2021-01-31#MarketApproachValuationTechniqueMember http://fasb.org/us-gaap/2021-01-31#MarketApproachValuationTechniqueMember http://fasb.org/us-gaap/2021-01-31#MarketApproachValuationTechniqueMember http://fasb.org/us-gaap/2021-01-31#MarketApproachValuationTechniqueMember http://fasb.org/us-gaap/2021-01-31#MarketApproachValuationTechniqueMember http://fasb.org/us-gaap/2021-01-31#MarketApproachValuationTechniqueMember http://fasb.org/us-gaap/2021-01-31#MarketApproachValuationTechniqueMember http://fasb.org/us-gaap/2021-01-31#MarketApproachValuationTechniqueMember http://fasb.org/us-gaap/2021-01-31#MarketApproachValuationTechniqueMember 0.027 0.000 0.010 0.010 0.023 0.020 0.008 0.005 0.009 0.000 0.006 0.003 0.006 0.000 0.003 0.012 0001109242 2022-01-01 2022-03-31 xbrli:shares 0001109242 2022-05-02 iso4217:USD 0001109242 2022-03-31 0001109242 2021-12-31 iso4217:USD xbrli:shares 0001109242 2021-01-01 2021-03-31 0001109242 us-gaap:CommonStockMember 2020-12-31 0001109242 us-gaap:TreasuryStockMember 2020-12-31 0001109242 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001109242 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0001109242 us-gaap:RetainedEarningsMember 2020-12-31 0001109242 2020-12-31 0001109242 us-gaap:CommonStockMember 2021-01-01 2021-03-31 0001109242 us-gaap:AdditionalPaidInCapitalMember 2021-01-01 2021-03-31 0001109242 us-gaap:TreasuryStockMember 2021-01-01 2021-03-31 0001109242 us-gaap:RetainedEarningsMember 2021-01-01 2021-03-31 0001109242 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-01-01 2021-03-31 0001109242 us-gaap:CommonStockMember 2021-03-31 0001109242 us-gaap:TreasuryStockMember 2021-03-31 0001109242 us-gaap:AdditionalPaidInCapitalMember 2021-03-31 0001109242 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-03-31 0001109242 us-gaap:RetainedEarningsMember 2021-03-31 0001109242 2021-03-31 0001109242 us-gaap:CommonStockMember 2021-12-31 0001109242 us-gaap:TreasuryStockMember 2021-12-31 0001109242 us-gaap:AdditionalPaidInCapitalMember 2021-12-31 0001109242 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-12-31 0001109242 us-gaap:RetainedEarningsMember 2021-12-31 0001109242 us-gaap:CommonStockMember 2022-01-01 2022-03-31 0001109242 us-gaap:AdditionalPaidInCapitalMember 2022-01-01 2022-03-31 0001109242 us-gaap:TreasuryStockMember 2022-01-01 2022-03-31 0001109242 us-gaap:RetainedEarningsMember 2022-01-01 2022-03-31 0001109242 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-01-01 2022-03-31 0001109242 us-gaap:CommonStockMember 2022-03-31 0001109242 us-gaap:TreasuryStockMember 2022-03-31 0001109242 us-gaap:AdditionalPaidInCapitalMember 2022-03-31 0001109242 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-03-31 0001109242 us-gaap:RetainedEarningsMember 2022-03-31 0001109242 us-gaap:USTreasurySecuritiesMember 2022-03-31 0001109242 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2022-03-31 0001109242 us-gaap:CollateralizedMortgageObligationsMember 2022-03-31 0001109242 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2022-03-31 0001109242 hafc:USGovernmentAgenciesDebtSecuritiesAndUSGovernmentSponsoredEnterprisesDebtSecuritiesMember 2022-03-31 0001109242 us-gaap:NontaxableMunicipalBondsMember 2022-03-31 0001109242 us-gaap:USTreasurySecuritiesMember 2021-12-31 0001109242 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember 2021-12-31 0001109242 us-gaap:CollateralizedMortgageObligationsMember 2021-12-31 0001109242 us-gaap:USGovernmentAgenciesDebtSecuritiesMember 2021-12-31 0001109242 hafc:USGovernmentAgenciesDebtSecuritiesAndUSGovernmentSponsoredEnterprisesDebtSecuritiesMember 2021-12-31 0001109242 us-gaap:NontaxableMunicipalBondsMember 2021-12-31 hafc:Security xbrli:pure 0001109242 srt:MinimumMember hafc:USGovernmentAndAgenciesSecuritiesMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyRetailLoansMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyRetailLoansMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyHospitalityLoansMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyHospitalityLoansMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyOtherLoansIncludingGasStationsMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyOtherLoansIncludingGasStationsMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansConstructionLoansMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansConstructionLoansMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialConsumerLoansMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialConsumerLoansMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember 2021-12-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember 2022-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember 2021-12-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember 2022-03-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember 2021-12-31 0001109242 us-gaap:LoansReceivableMember hafc:AccruedInterestReceivableMember 2022-03-31 0001109242 us-gaap:LoansReceivableMember hafc:AccruedInterestReceivableMember 2021-12-31 0001109242 hafc:PaymentProtectionProgramMember 2022-03-31 0001109242 hafc:PaymentProtectionProgramMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember 2022-01-01 2022-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember 2022-01-01 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember 2020-12-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember 2020-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember 2021-01-01 2021-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember 2021-01-01 2021-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember 2021-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember 2021-03-31 0001109242 hafc:SBALoansMember 2022-03-31 0001109242 hafc:SBALoansMember 2021-12-31 0001109242 hafc:PPPLoansMember 2022-01-01 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2021-12-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2021-12-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2021-12-31 0001109242 hafc:NonPurchasedCreditImpairedCreditMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2022-01-01 2022-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2022-01-01 2022-03-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2022-01-01 2022-03-31 0001109242 hafc:NonPurchasedCreditImpairedCreditMember 2022-01-01 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2022-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2022-03-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2022-03-31 0001109242 hafc:NonPurchasedCreditImpairedCreditMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2020-12-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2020-12-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2020-12-31 0001109242 hafc:NonPurchasedCreditImpairedCreditMember 2020-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2021-01-01 2021-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2021-01-01 2021-03-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2021-01-01 2021-03-31 0001109242 hafc:NonPurchasedCreditImpairedCreditMember 2021-01-01 2021-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2021-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2021-03-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember hafc:NonPurchasedCreditImpairedCreditMember 2021-03-31 0001109242 hafc:NonPurchasedCreditImpairedCreditMember 2021-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyOtherLoansMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyOtherLoansMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember us-gaap:PassMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember hafc:ClassifiedGradeMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansConstructionLoansMember us-gaap:PassMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialPropertyLoansMember us-gaap:PassMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialPropertyLoansMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember us-gaap:PassMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:ClassifiedGradeMember 2022-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember us-gaap:PassMember 2022-03-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:PassMember 2022-03-31 0001109242 us-gaap:PassMember 2022-03-31 0001109242 hafc:ClassifiedGradeMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember us-gaap:SpecialMentionMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember us-gaap:SpecialMentionMember 2022-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember us-gaap:SpecialMentionMember 2022-03-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember hafc:ClassifiedGradeMember 2022-03-31 0001109242 us-gaap:SpecialMentionMember 2022-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember hafc:ClassifiedGradeMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansConstructionLoansMember us-gaap:SpecialMentionMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialPropertyLoansMember us-gaap:SpecialMentionMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialPropertyLoansMember hafc:ClassifiedGradeMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember us-gaap:PassMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansConstructionLoansMember us-gaap:PassMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialPropertyLoansMember us-gaap:PassMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialPropertyLoansMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember us-gaap:PassMember 2021-12-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember us-gaap:PassMember 2021-12-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:PassMember 2021-12-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember hafc:ClassifiedGradeMember 2021-12-31 0001109242 us-gaap:PassMember 2021-12-31 0001109242 hafc:ClassifiedGradeMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember us-gaap:SpecialMentionMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember us-gaap:SpecialMentionMember 2021-12-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember us-gaap:SpecialMentionMember 2021-12-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember hafc:ClassifiedGradeMember 2021-12-31 0001109242 us-gaap:SpecialMentionMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember hafc:ClassifiedGradeMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:ClassifiedGradeMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialPropertyLoansMember us-gaap:SpecialMentionMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialPropertyLoansMember hafc:ClassifiedGradeMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansConstructionLoansMember us-gaap:SpecialMentionMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember us-gaap:PerformingFinancingReceivableMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansConstructionLoansMember us-gaap:PerformingFinancingReceivableMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialConsumerLoansMember us-gaap:PerformingFinancingReceivableMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember us-gaap:PerformingFinancingReceivableMember 2022-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember us-gaap:PerformingFinancingReceivableMember 2022-03-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:PerformingFinancingReceivableMember 2022-03-31 0001109242 us-gaap:PerformingFinancingReceivableMember 2022-03-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:NonperformingFinancingReceivableMember 2022-03-31 0001109242 us-gaap:NonperformingFinancingReceivableMember 2022-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember us-gaap:NonperformingFinancingReceivableMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember us-gaap:NonperformingFinancingReceivableMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialConsumerLoansMember us-gaap:NonperformingFinancingReceivableMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember us-gaap:NonperformingFinancingReceivableMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember us-gaap:PerformingFinancingReceivableMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansConstructionLoansMember us-gaap:PerformingFinancingReceivableMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialConsumerLoansMember us-gaap:PerformingFinancingReceivableMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember us-gaap:PerformingFinancingReceivableMember 2021-12-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember us-gaap:PerformingFinancingReceivableMember 2021-12-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:PerformingFinancingReceivableMember 2021-12-31 0001109242 us-gaap:FinanceLeasesPortfolioSegmentMember us-gaap:NonperformingFinancingReceivableMember 2021-12-31 0001109242 us-gaap:PerformingFinancingReceivableMember 2021-12-31 0001109242 us-gaap:NonperformingFinancingReceivableMember 2021-12-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember us-gaap:NonperformingFinancingReceivableMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember us-gaap:NonperformingFinancingReceivableMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember us-gaap:NonperformingFinancingReceivableMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialConsumerLoansMember us-gaap:NonperformingFinancingReceivableMember 2021-12-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyOtherLoansMember 2022-03-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember 2022-03-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialConsumerLoansMember 2022-03-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember hafc:RealEstatePortfolioSegmentMember 2022-03-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember hafc:CommercialAndIndustrialPortfolioSegmentMember 2022-03-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2022-03-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember 2022-03-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyHospitalityLoansMember 2021-12-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyOtherLoansMember 2021-12-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember 2021-12-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialConsumerLoansMember 2021-12-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember hafc:RealEstatePortfolioSegmentMember 2021-12-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember hafc:CommercialAndIndustrialPortfolioSegmentMember 2021-12-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2021-12-31 0001109242 us-gaap:FinancingReceivables30To59DaysPastDueMember 2021-12-31 0001109242 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2022-03-31 0001109242 us-gaap:FinancingReceivables60To89DaysPastDueMember 2022-03-31 0001109242 us-gaap:FinancingReceivables60To89DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyOtherLoansMember 2021-12-31 0001109242 us-gaap:FinancingReceivables60To89DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember 2021-12-31 0001109242 us-gaap:FinancingReceivables60To89DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialConsumerLoansMember 2021-12-31 0001109242 us-gaap:FinancingReceivables60To89DaysPastDueMember hafc:RealEstatePortfolioSegmentMember 2021-12-31 0001109242 us-gaap:FinancingReceivables60To89DaysPastDueMember hafc:CommercialAndIndustrialPortfolioSegmentMember 2021-12-31 0001109242 us-gaap:FinancingReceivables60To89DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2021-12-31 0001109242 us-gaap:FinancingReceivables60To89DaysPastDueMember 2021-12-31 0001109242 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyOtherLoansMember 2022-03-31 0001109242 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember 2022-03-31 0001109242 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialConsumerLoansMember 2022-03-31 0001109242 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember hafc:RealEstatePortfolioSegmentMember 2022-03-31 0001109242 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2022-03-31 0001109242 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2022-03-31 0001109242 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyOtherLoansMember 2021-12-31 0001109242 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember 2021-12-31 0001109242 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialConsumerLoansMember 2021-12-31 0001109242 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember hafc:RealEstatePortfolioSegmentMember 2021-12-31 0001109242 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2021-12-31 0001109242 us-gaap:FinancingReceivablesEqualToGreaterThan90DaysPastDueMember 2021-12-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyRetailLoansMember 2022-03-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyHospitalityLoansMember 2022-03-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyOtherLoansMember 2022-03-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember 2022-03-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansConstructionLoansMember 2022-03-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialConsumerLoansMember 2022-03-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember 2022-03-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:CommercialAndIndustrialPortfolioSegmentMember 2022-03-31 0001109242 us-gaap:FinancialAssetNotPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2022-03-31 0001109242 us-gaap:FinancialAssetNotPastDueMember 2022-03-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyRetailLoansMember 2021-12-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyHospitalityLoansMember 2021-12-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyOtherLoansMember 2021-12-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansCommercialPropertyLoanMember 2021-12-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansConstructionLoansMember 2021-12-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember hafc:RealEstateLoansResidentialConsumerLoansMember 2021-12-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:RealEstatePortfolioSegmentMember 2021-12-31 0001109242 us-gaap:FinancialAssetNotPastDueMember hafc:CommercialAndIndustrialPortfolioSegmentMember 2021-12-31 0001109242 us-gaap:FinancialAssetNotPastDueMember us-gaap:FinanceLeasesPortfolioSegmentMember 2021-12-31 0001109242 us-gaap:FinancialAssetNotPastDueMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonaccrualTDRsMember us-gaap:PaymentDeferralMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonaccrualTDRsMember hafc:DeferralOfPrincipalAndInterestsMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonaccrualTDRsMember us-gaap:ContractualInterestRateReductionMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonaccrualTDRsMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:AccrualTDRsMember us-gaap:ContractualInterestRateReductionMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:AccrualTDRsMember 2022-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember hafc:NonaccrualTDRsMember hafc:DeferralOfPrincipalAndInterestsMember 2022-03-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember hafc:NonaccrualTDRsMember 2022-03-31 0001109242 hafc:NonaccrualTDRsMember us-gaap:PaymentDeferralMember 2022-03-31 0001109242 hafc:NonaccrualTDRsMember hafc:DeferralOfPrincipalAndInterestsMember 2022-03-31 0001109242 hafc:NonaccrualTDRsMember us-gaap:ContractualInterestRateReductionMember 2022-03-31 0001109242 hafc:NonaccrualTDRsMember 2022-03-31 0001109242 hafc:AccrualTDRsMember us-gaap:ContractualInterestRateReductionMember 2022-03-31 0001109242 hafc:AccrualTDRsMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonaccrualTDRsMember us-gaap:PaymentDeferralMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonaccrualTDRsMember hafc:DeferralOfPrincipalAndInterestsMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonaccrualTDRsMember us-gaap:ContractualInterestRateReductionMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember hafc:NonaccrualTDRsMember 2021-12-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember hafc:NonaccrualTDRsMember hafc:DeferralOfPrincipalAndInterestsMember 2021-12-31 0001109242 hafc:CommercialAndIndustrialPortfolioSegmentMember hafc:NonaccrualTDRsMember 2021-12-31 0001109242 hafc:NonaccrualTDRsMember us-gaap:PaymentDeferralMember 2021-12-31 0001109242 hafc:NonaccrualTDRsMember hafc:DeferralOfPrincipalAndInterestsMember 2021-12-31 0001109242 hafc:NonaccrualTDRsMember us-gaap:ContractualInterestRateReductionMember 2021-12-31 0001109242 hafc:NonaccrualTDRsMember 2021-12-31 hafc:Loan 0001109242 us-gaap:OtherOperatingIncomeExpenseMember 2022-01-01 2022-03-31 0001109242 us-gaap:OtherOperatingIncomeExpenseMember 2021-01-01 2021-03-31 0001109242 srt:MinimumMember 2022-01-01 2022-03-31 0001109242 srt:MaximumMember 2022-01-01 2022-03-31 0001109242 srt:MinimumMember 2021-01-01 2021-12-31 0001109242 srt:MaximumMember 2021-01-01 2021-12-31 0001109242 hafc:CBIMergerMember hafc:ThirdPartyOriginatorsIntangibleMember 2016-10-27 2016-10-27 0001109242 hafc:CBIMergerMember 2016-10-27 2016-10-27 0001109242 hafc:CBIMergerMember us-gaap:CoreDepositsMember 2014-08-31 2014-08-31 0001109242 us-gaap:CoreDepositsMember 2022-01-01 2022-03-31 0001109242 hafc:ThirdPartyOriginatorsIntangibleMember 2022-01-01 2022-03-31 0001109242 us-gaap:CoreDepositsMember 2022-03-31 0001109242 hafc:ThirdPartyOriginatorsIntangibleMember 2022-03-31 0001109242 us-gaap:CoreDepositsMember 2021-12-31 0001109242 hafc:ThirdPartyOriginatorsIntangibleMember 2021-12-31 0001109242 2021-01-01 2021-12-31 0001109242 hafc:UninsuredTimeDeposits250000OrMoreMember 2022-03-31 0001109242 hafc:UninsuredTimeDeposits250000OrMoreMember 2021-12-31 0001109242 hafc:TimeDeposits250000orMoreMember 2022-03-31 0001109242 hafc:OtherTimeDepositsMember 2022-03-31 0001109242 hafc:TimeDeposits250000orMoreMember 2021-12-31 0001109242 hafc:OtherTimeDepositsMember 2021-12-31 0001109242 srt:FederalHomeLoanBankOfSanFranciscoMember 2022-03-31 0001109242 srt:FederalHomeLoanBankOfSanFranciscoMember 2021-12-31 0001109242 hafc:TwoThousandAndTwentyOneSubordinatedNotesMember 2021-08-20 0001109242 2021-08-20 2021-08-20 0001109242 hafc:TwoThousandAndTwentyOneSubordinatedNotesMember 2021-08-20 2021-08-20 0001109242 hafc:TwoThousandAndTwentyOneSubordinatedNotesMember 2022-03-31 0001109242 hafc:TwoThousandAndTwentyOneSubordinatedNotesMember 2021-12-31 0001109242 hafc:TwoThousandAndTwentyOneSubordinatedNotesMember hafc:BenchmarkRateMember 2021-08-20 2021-08-20 0001109242 hafc:TwoThousandAndSeventeenSubordinatedNotesMember 2017-03-21 0001109242 2017-03-21 2017-03-21 0001109242 hafc:TwoThousandAndSeventeenSubordinatedNotesMember hafc:ThreeMonthLondonInterbankOfferedRateLIBORMember 2017-03-21 2017-03-21 0001109242 hafc:TwoThousandAndSeventeenSubordinatedNotesMember 2022-03-31 0001109242 hafc:TwoThousandAndSeventeenSubordinatedNotesMember 2021-12-31 0001109242 us-gaap:SubordinatedDebtMember hafc:CentralBancorpIncMember 2014-12-31 0001109242 us-gaap:SubordinatedDebtMember hafc:CentralBancorpIncMember 2005-12-31 0001109242 us-gaap:SubordinatedDebtMember hafc:CentralBancorpIncMember 2022-01-01 2022-03-31 0001109242 us-gaap:SubordinatedDebtMember hafc:CentralBancorpIncMember 2022-03-31 0001109242 us-gaap:SubordinatedDebtMember hafc:CentralBancorpIncMember 2021-12-31 0001109242 us-gaap:SubordinatedDebtMember hafc:CentralBancorpIncMember 2021-01-01 2021-03-31 0001109242 us-gaap:SubordinatedDebtMember hafc:CentralBancorpIncMember hafc:ThreeMonthLondonInterbankOfferedRateLIBORMember 2005-12-01 2005-12-31 0001109242 us-gaap:EmployeeStockOptionMember 2022-01-01 2022-03-31 0001109242 us-gaap:EmployeeStockOptionMember 2021-01-01 2021-03-31 0001109242 hafc:TwoThousandAndTwentyOneEquityCompensationPlanMember us-gaap:PerformanceSharesMember 2022-01-01 2022-03-31 0001109242 hafc:TwoThousandAndThirteenEquityCompensationPlanMember us-gaap:PerformanceSharesMember 2021-01-01 2021-03-31 0001109242 hafc:TwoThousandAndThirteenEquityCompensationPlanMember us-gaap:PerformanceSharesMember 2022-01-01 2022-03-31 0001109242 hafc:TwoThousandAndThirteenEquityCompensationPlanMember us-gaap:PerformanceSharesMember 2022-03-31 0001109242 hafc:TwoThousandAndThirteenEquityCompensationPlanMember us-gaap:PerformanceSharesMember 2021-03-31 0001109242 hafc:DepositInstitutionsMember 2022-03-31 0001109242 2019-01-01 0001109242 srt:SubsidiariesMember 2022-03-31 0001109242 srt:SubsidiariesMember 2021-12-31 0001109242 srt:ParentCompanyMember 2022-03-31 0001109242 srt:ParentCompanyMember 2021-12-31 0001109242 srt:MinimumMember 2022-03-31 0001109242 srt:MaximumMember 2022-03-31 0001109242 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2022-03-31 0001109242 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2022-03-31 0001109242 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2022-03-31 0001109242 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2022-03-31 0001109242 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2022-03-31 0001109242 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2022-03-31 0001109242 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2022-03-31 0001109242 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueMeasurementsRecurringMember 2022-03-31 0001109242 us-gaap:CollateralizedMortgageObligationsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2022-03-31 0001109242 us-gaap:CollateralizedMortgageObligationsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2022-03-31 0001109242 us-gaap:CollateralizedMortgageObligationsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2022-03-31 0001109242 us-gaap:CollateralizedMortgageObligationsMember us-gaap:FairValueMeasurementsRecurringMember 2022-03-31 0001109242 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2022-03-31 0001109242 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2022-03-31 0001109242 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2022-03-31 0001109242 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2022-03-31 0001109242 hafc:USGovernmentAgenciesDebtSecuritiesAndUSGovernmentSponsoredEnterprisesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2022-03-31 0001109242 hafc:USGovernmentAgenciesDebtSecuritiesAndUSGovernmentSponsoredEnterprisesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2022-03-31 0001109242 hafc:USGovernmentAgenciesDebtSecuritiesAndUSGovernmentSponsoredEnterprisesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2022-03-31 0001109242 hafc:USGovernmentAgenciesDebtSecuritiesAndUSGovernmentSponsoredEnterprisesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2022-03-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:NontaxableMunicipalBondsMember 2022-03-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:NontaxableMunicipalBondsMember 2022-03-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:NontaxableMunicipalBondsMember 2022-03-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:NontaxableMunicipalBondsMember 2022-03-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2022-03-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2022-03-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2022-03-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember 2022-03-31 0001109242 us-gaap:DerivativeMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2022-03-31 0001109242 us-gaap:DerivativeMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2022-03-31 0001109242 us-gaap:DerivativeMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2022-03-31 0001109242 us-gaap:DerivativeMember us-gaap:FairValueMeasurementsRecurringMember 2022-03-31 0001109242 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2021-12-31 0001109242 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2021-12-31 0001109242 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2021-12-31 0001109242 us-gaap:USTreasurySecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2021-12-31 0001109242 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2021-12-31 0001109242 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2021-12-31 0001109242 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2021-12-31 0001109242 us-gaap:MortgageBackedSecuritiesIssuedByUSGovernmentSponsoredEnterprisesMember us-gaap:FairValueMeasurementsRecurringMember 2021-12-31 0001109242 us-gaap:CollateralizedMortgageObligationsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2021-12-31 0001109242 us-gaap:CollateralizedMortgageObligationsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2021-12-31 0001109242 us-gaap:CollateralizedMortgageObligationsMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2021-12-31 0001109242 us-gaap:CollateralizedMortgageObligationsMember us-gaap:FairValueMeasurementsRecurringMember 2021-12-31 0001109242 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2021-12-31 0001109242 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2021-12-31 0001109242 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2021-12-31 0001109242 us-gaap:USGovernmentAgenciesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2021-12-31 0001109242 hafc:USGovernmentAgenciesDebtSecuritiesAndUSGovernmentSponsoredEnterprisesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2021-12-31 0001109242 hafc:USGovernmentAgenciesDebtSecuritiesAndUSGovernmentSponsoredEnterprisesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2021-12-31 0001109242 hafc:USGovernmentAgenciesDebtSecuritiesAndUSGovernmentSponsoredEnterprisesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2021-12-31 0001109242 hafc:USGovernmentAgenciesDebtSecuritiesAndUSGovernmentSponsoredEnterprisesDebtSecuritiesMember us-gaap:FairValueMeasurementsRecurringMember 2021-12-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member us-gaap:NontaxableMunicipalBondsMember 2021-12-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member us-gaap:NontaxableMunicipalBondsMember 2021-12-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member us-gaap:NontaxableMunicipalBondsMember 2021-12-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:NontaxableMunicipalBondsMember 2021-12-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2021-12-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2021-12-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2021-12-31 0001109242 us-gaap:FairValueMeasurementsRecurringMember 2021-12-31 0001109242 us-gaap:DerivativeMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel1Member 2021-12-31 0001109242 us-gaap:DerivativeMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel2Member 2021-12-31 0001109242 us-gaap:DerivativeMember us-gaap:FairValueMeasurementsRecurringMember us-gaap:FairValueInputsLevel3Member 2021-12-31 0001109242 us-gaap:DerivativeMember us-gaap:FairValueMeasurementsRecurringMember 2021-12-31 0001109242 us-gaap:FairValueMeasurementsNonrecurringMember 2022-03-31 0001109242 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel1Member 2022-03-31 0001109242 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel2Member 2022-03-31 0001109242 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel3Member 2022-03-31 0001109242 us-gaap:FairValueMeasurementsNonrecurringMember 2021-12-31 0001109242 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel1Member 2021-12-31 0001109242 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel2Member 2021-12-31 0001109242 us-gaap:FairValueMeasurementsNonrecurringMember us-gaap:FairValueInputsLevel3Member 2021-12-31 0001109242 us-gaap:FairValueMeasurementsNonrecurringMember hafc:RealEstateLoansMember 2022-03-31 0001109242 us-gaap:FairValueMeasurementsNonrecurringMember hafc:RealEstateLoansMember 2021-12-31 0001109242 hafc:RealEstateLoansCommercialPropertyRetailLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2022-03-31 0001109242 hafc:RealEstateLoansCommercialPropertyOtherLoansIncludingGasStationsMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2022-03-31 0001109242 hafc:RealEstateLoansResidentialConsumerLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2022-03-31 0001109242 hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2022-03-31 0001109242 hafc:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2022-03-31 0001109242 hafc:RepossessedPersonalPropertyMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2022-03-31 0001109242 hafc:RealEstateLoansCommercialPropertyRetailLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2021-12-31 0001109242 hafc:RealEstateLoansCommercialPropertyOtherLoansIncludingGasStationsMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2021-12-31 0001109242 hafc:RealEstateLoansResidentialConsumerLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2021-12-31 0001109242 hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2021-12-31 0001109242 hafc:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2021-12-31 0001109242 hafc:RepossessedPersonalPropertyMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember 2021-12-31 0001109242 hafc:RealEstateLoansCommercialPropertyRetailLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MinimumMember 2022-03-31 0001109242 hafc:RealEstateLoansCommercialPropertyOtherLoansIncludingGasStationsMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MinimumMember 2022-03-31 0001109242 hafc:RealEstateLoansResidentialConsumerLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MinimumMember 2022-03-31 0001109242 hafc:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MinimumMember 2022-03-31 0001109242 hafc:RealEstateLoansCommercialPropertyRetailLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MinimumMember 2021-12-31 0001109242 hafc:RealEstateLoansCommercialPropertyOtherLoansIncludingGasStationsMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MinimumMember 2021-12-31 0001109242 hafc:RealEstateLoansResidentialConsumerLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MinimumMember 2021-12-31 0001109242 hafc:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MinimumMember 2021-12-31 0001109242 hafc:RealEstateLoansCommercialPropertyRetailLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MaximumMember 2022-03-31 0001109242 hafc:RealEstateLoansCommercialPropertyOtherLoansIncludingGasStationsMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MaximumMember 2022-03-31 0001109242 hafc:RealEstateLoansResidentialConsumerLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MaximumMember 2022-03-31 0001109242 hafc:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MaximumMember 2022-03-31 0001109242 hafc:RealEstateLoansCommercialPropertyRetailLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MaximumMember 2021-12-31 0001109242 hafc:RealEstateLoansCommercialPropertyOtherLoansIncludingGasStationsMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MaximumMember 2021-12-31 0001109242 hafc:RealEstateLoansResidentialConsumerLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MaximumMember 2021-12-31 0001109242 hafc:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:MaximumMember 2021-12-31 0001109242 hafc:RealEstateLoansCommercialPropertyRetailLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:WeightedAverageMember 2022-03-31 0001109242 hafc:RealEstateLoansCommercialPropertyOtherLoansIncludingGasStationsMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:WeightedAverageMember 2022-03-31 0001109242 hafc:RealEstateLoansResidentialConsumerLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:WeightedAverageMember 2022-03-31 0001109242 hafc:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:WeightedAverageMember 2022-03-31 0001109242 hafc:RealEstateLoansCommercialPropertyRetailLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:WeightedAverageMember 2021-12-31 0001109242 hafc:RealEstateLoansCommercialPropertyOtherLoansIncludingGasStationsMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:WeightedAverageMember 2021-12-31 0001109242 hafc:RealEstateLoansResidentialConsumerLoansMember hafc:RealEstatePortfolioSegmentMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:WeightedAverageMember 2021-12-31 0001109242 hafc:OtherRealEstateOwnedMember us-gaap:FairValueInputsLevel3Member us-gaap:FairValueMeasurementsNonrecurringMember srt:WeightedAverageMember 2021-12-31 0001109242 us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2022-03-31 0001109242 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2022-03-31 0001109242 us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2022-03-31 0001109242 us-gaap:FairValueInputsLevel1Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2021-12-31 0001109242 us-gaap:FairValueInputsLevel2Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2021-12-31 0001109242 us-gaap:FairValueInputsLevel3Member us-gaap:EstimateOfFairValueFairValueDisclosureMember 2021-12-31 0001109242 hafc:UnusuedCommitmentsToExtendCreditMember 2022-03-31 0001109242 hafc:UnusuedCommitmentsToExtendCreditMember 2021-12-31 0001109242 us-gaap:StandbyLettersOfCreditMember 2022-03-31 0001109242 us-gaap:StandbyLettersOfCreditMember 2021-12-31 0001109242 hafc:CommercialLettersOfCreditMember 2022-03-31 0001109242 hafc:CommercialLettersOfCreditMember 2021-12-31 0001109242 us-gaap:NondesignatedMember us-gaap:InterestRateContractMember 2022-03-31 0001109242 us-gaap:NondesignatedMember us-gaap:InterestRateContractMember 2021-12-31 0001109242 us-gaap:NondesignatedMember us-gaap:OtherIncomeMember us-gaap:InterestRateContractMember 2022-01-01 2022-03-31 0001109242 us-gaap:NondesignatedMember 2022-01-01 2022-03-31 0001109242 us-gaap:NondesignatedMember us-gaap:OtherIncomeMember us-gaap:InterestRateContractMember 2021-01-01 2021-03-31 0001109242 us-gaap:NondesignatedMember 2021-01-01 2021-03-31 0001109242 us-gaap:OtherIncomeMember 2022-01-01 2022-03-31 0001109242 us-gaap:OtherIncomeMember 2021-01-01 2021-03-31 0001109242 us-gaap:DerivativeFinancialInstrumentsAssetsMember 2022-03-31 0001109242 us-gaap:DerivativeFinancialInstrumentsAssetsMember 2021-12-31 0001109242 hafc:DerivativeAssetsCashCollateralReceivedMember 2022-03-31 0001109242 hafc:DerivativeAssetsCashCollateralReceivedMember 2021-12-31 0001109242 us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember 2022-03-31 0001109242 us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember 2021-12-31

 

 

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, 2022

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 May 2, 2022, there were 30,467,022 outstanding shares of the Registrant’s Common Stock.

 

 

 


 

 

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

Three Months Ended March 31, 2022

Table of Contents

 

 

 

Part I – Financial Information

 

 

 

 

 

 

 

Item 1.

 

Financial Statements

 

3

 

 

 

 

 

 

 

Consolidated Balance Sheets at March 31, 2022 (unaudited) and December 31, 2021

 

3

 

 

 

 

 

 

 

Consolidated Statements of Income for the three months ended March 31, 2022 and 2021 (unaudited)

 

4

 

 

 

 

 

 

 

Consolidated Statements of Comprehensive Income for the three months ended March 31, 2022 and 2021 (unaudited)

 

5

 

 

 

 

 

 

 

Consolidated Statements of Changes in Stockholders’ Equity for the three months ended March 31, 2022 and 2021 (unaudited)

 

6

 

 

 

 

 

 

 

Consolidated Statements of Cash Flows for the three months ended March 31, 2022 and 2021 (unaudited)

 

7

 

 

 

 

 

 

 

Notes to Consolidated Financial Statements (unaudited)

 

8

 

 

 

 

 

Item 2.

 

Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

38

 

 

 

 

 

Item 3.

 

Quantitative and Qualitative Disclosures About Market Risk

 

54

 

 

 

 

 

Item 4.

 

Controls and Procedures

 

54

 

 

 

 

 

 

 

Part II – Other Information

 

 

 

 

 

 

 

Item 1.

 

Legal Proceedings

 

55

 

 

 

 

 

Item 1A.

 

Risk Factors

 

55

 

 

 

 

 

Item 2.

 

Unregistered Sales of Equity Securities and Use of Proceeds

 

55

 

 

 

 

 

Item 3.

 

Defaults Upon Senior Securities

 

55

 

 

 

 

 

Item 4.

 

Mine Safety Disclosures

 

55

 

 

 

 

 

Item 5.

 

Other Information

 

55

 

 

 

 

 

Item 6.

 

Exhibits

 

56

 

 

 

Signatures

 

57

 

2


 

 

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,

 

 

 

2022

 

 

2021

 

 

 

(Unaudited)

 

 

 

 

 

Assets

 

 

 

 

 

 

 

 

Cash and due from banks

 

$

312,491

 

 

$

608,965

 

Securities available for sale, at fair value (amortized cost of $941,007 and $922,654 as of March 31, 2022 and December 31, 2021, respectively)

 

 

876,980

 

 

 

910,790

 

Loans held for sale, at the lower of cost or fair value

 

 

15,617

 

 

 

13,342

 

Loans receivable, net of allowance for credit losses of $71,512 and $72,557 as of March 31, 2022 and December 31, 2021, respectively

 

 

5,265,988

 

 

 

5,078,984

 

Accrued interest receivable

 

 

12,289

 

 

 

11,976

 

Premises and equipment, net

 

 

24,410

 

 

 

24,788

 

Customers' liability on acceptances

 

 

182

 

 

 

 

Servicing assets

 

 

7,202

 

 

 

7,080

 

Goodwill and other intangible assets, net

 

 

11,353

 

 

 

11,395

 

Federal Home Loan Bank ("FHLB") stock, at cost

 

 

16,385

 

 

 

16,385

 

Income tax assets

 

 

51,939

 

 

 

44,060

 

Bank-owned life insurance

 

 

55,149

 

 

 

54,905

 

Prepaid expenses and other assets

 

 

87,067

 

 

 

75,917

 

Total assets

 

$

6,737,052

 

 

$

6,858,587

 

 

 

 

 

 

 

 

 

 

Liabilities and Stockholders' Equity

 

 

 

 

 

 

 

 

Liabilities:

 

 

 

 

 

 

 

 

Deposits:

 

 

 

 

 

 

 

 

Noninterest-bearing

 

$

2,678,726

 

 

$

2,574,517

 

Interest-bearing

 

 

3,104,444

 

 

 

3,211,752

 

Total deposits

 

 

5,783,170

 

 

 

5,786,269

 

Accrued interest payable

 

 

966

 

 

 

1,161

 

Bank's liability on acceptances

 

 

182

 

 

 

 

Borrowings

 

 

125,000

 

 

 

137,500

 

Subordinated debentures ($136,800 and $224,100 face amount less unamortized discount and debt issuance costs of $7,833 and $9,094 as of March 31, 2022 and December 31, 2021, respectively)

 

 

128,967

 

 

 

215,006

 

Accrued expenses and other liabilities

 

 

77,315

 

 

 

75,234

 

Total liabilities

 

 

6,115,600

 

 

 

6,215,170

 

Stockholders' equity:

 

 

 

 

 

 

 

 

Preferred stock, $0.001 par value; authorized 10,000,000 shares; no shares issued as of March 31, 2022 and December 31, 2021

 

 

 

 

 

 

Common stock, $0.001 par value; authorized 62,500,000 shares; issued 33,670,197 shares (30,468,458 shares outstanding) and 33,603,839 shares (30,407,261 shares outstanding) as of March 31, 2022 and December 31, 2021, respectively

 

 

33

 

 

 

33

 

Additional paid-in capital

 

 

581,337

 

 

 

580,796

 

Accumulated other comprehensive (loss) income, net of tax benefit of $19,208 and $3,421 as of March 31, 2022 and December 31, 2021, respectively

 

 

(44,819

)

 

 

(8,443

)

Retained earnings

 

 

210,788

 

 

 

196,784

 

Less treasury stock; 3,201,739 shares and 3,196,578 shares as of March 31, 2022 and December 31, 2021, respectively

 

 

(125,887

)

 

 

(125,753

)

Total stockholders' equity

 

 

621,452

 

 

 

643,417

 

Total liabilities and stockholders' equity

 

$

6,737,052

 

 

$

6,858,587

 

 

See Accompanying Notes to Consolidated Financial Statements (Unaudited)

3


 

Hanmi Financial Corporation and Subsidiaries

Consolidated Statements of Income (Unaudited)

(in thousands, except share and per share data)

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Interest and dividend income:

 

 

 

 

 

 

 

 

Interest and fees on loans receivable

 

$

53,924

 

 

$

50,614

 

Interest on securities

 

 

2,516

 

 

 

1,140

 

Dividends on FHLB stock

 

 

248

 

 

 

206

 

Interest on deposits in other banks

 

 

216

 

 

 

96

 

Total interest and dividend income

 

 

56,904

 

 

 

52,056

 

Interest expense:

 

 

 

 

 

 

 

 

Interest on deposits

 

 

2,013

 

 

 

3,958

 

Interest on borrowings

 

 

337

 

 

 

478

 

Interest on subordinated debentures

 

 

3,598

 

 

 

1,619

 

Total interest expense

 

 

5,948

 

 

 

6,055

 

Net interest income before credit loss expense

 

 

50,956

 

 

 

46,001

 

Credit loss (recovery) expense

 

 

(1,375

)

 

 

2,109

 

Net interest income after credit loss (recovery) expense

 

 

52,331

 

 

 

43,892

 

Noninterest income:

 

 

 

 

 

 

 

 

Service charges on deposit accounts

 

 

2,875

 

 

 

2,357

 

Trade finance and other service charges and fees

 

 

1,142

 

 

 

1,034

 

Gain on sale of Small Business Administration ("SBA") loans

 

 

2,521

 

 

 

4,125

 

Net gain on sales of securities

 

 

 

 

 

99

 

Other operating income

 

 

1,982

 

 

 

2,193

 

Total noninterest income

 

 

8,520

 

 

 

9,808

 

Noninterest expense:

 

 

 

 

 

 

 

 

Salaries and employee benefits

 

 

17,717

 

 

 

16,820

 

Occupancy and equipment

 

 

4,646

 

 

 

4,595

 

Data processing

 

 

3,236

 

 

 

2,926

 

Professional fees

 

 

1,430

 

 

 

1,447

 

Supplies and communications

 

 

665

 

 

 

757

 

Advertising and promotion

 

 

817

 

 

 

359

 

Other operating expenses

 

 

3,181

 

 

 

2,631

 

Total noninterest expense

 

 

31,692

 

 

 

29,535

 

Income before tax

 

 

29,159

 

 

 

24,165

 

Income tax expense

 

 

8,464

 

 

 

7,506

 

Net income

 

$

20,695

 

 

$

16,659

 

Basic earnings per share

 

$

0.68

 

 

$

0.54

 

Diluted earnings per share

 

$

0.68

 

 

$

0.54

 

Weighted-average shares outstanding:

 

 

 

 

 

 

 

 

Basic

 

 

30,254,212

 

 

 

30,461,681

 

Diluted

 

 

30,377,580

 

 

 

30,473,970

 

 

See Accompanying Notes to Consolidated Financial Statements (Unaudited)

4


 

Hanmi Financial Corporation and Subsidiaries

Consolidated Statements of Comprehensive Income (Unaudited)

(in thousands)

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Net income

 

$

20,695

 

 

$

16,659

 

Other comprehensive income (loss), net of tax:

 

 

 

 

 

 

 

 

Unrealized gain on securities:

 

 

 

 

 

 

 

 

Unrealized holding (loss) gain arising during period

 

 

(52,163

)

 

 

(11,785

)

Less: reclassification adjustment for net gain included in net income

 

 

 

 

 

(99

)

Income tax benefit (expense) related to items of other comprehensive income

 

 

15,787

 

 

 

3,515

 

Other comprehensive income (loss), net of tax

 

 

(36,376

)

 

 

(8,369

)

Comprehensive income (loss)

 

$

(15,681

)

 

$

8,290

 

 

See Accompanying Notes to Consolidated Financial Statements (Unaudited)

5


 

Hanmi Financial Corporation and Subsidiaries

Consolidated Statements of Changes in Stockholders’ Equity (Unaudited)

For the Three Months Ended March 31, 2022 and March 31, 2021

(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

 

 

Income (Loss)

 

 

Earnings

 

 

at Cost

 

 

Equity

 

Balance at January 1, 2021

 

 

33,560,801

 

 

 

(2,842,966

)

 

 

30,717,835

 

 

$

33

 

 

$

578,360

 

 

$

3,076

 

 

$

114,621

 

 

$

(119,046

)

 

$

577,044

 

Restricted stock awards, net of forfeitures

 

 

24,380

 

 

 

 

 

 

24,380

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

598

 

 

 

 

 

 

 

 

 

 

 

 

598

 

Restricted stock surrendered due to employee tax liability

 

 

 

 

 

(4,682

)

 

 

(4,682

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(95

)

 

 

(95

)

Repurchase of common stock

 

 

 

 

 

(55,000

)

 

 

(55,000

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(946

)

 

 

(946

)

Cash dividends paid (common stock, $0.10/share)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(3,069

)

 

 

 

 

 

(3,069

)

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

16,659

 

 

 

 

 

 

16,659

 

Change in unrealized gain (loss) on securities available for sale, net of income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(8,369

)

 

 

 

 

 

 

 

 

(8,369

)

Balance at March 31, 2021

 

 

33,585,181

 

 

 

(2,902,648

)

 

 

30,682,533

 

 

$

33

 

 

$

578,958

 

 

$

(5,293

)

 

$

128,211

 

 

$

(120,087

)

 

$

581,822

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at January 1, 2022

 

 

33,603,839

 

 

 

(3,196,578

)

 

 

30,407,261

 

 

$

33

 

 

$

580,796

 

 

$

(8,443

)

 

$

196,784

 

 

$

(125,753

)

 

$

643,417

 

Restricted stock awards, net of forfeitures

 

 

66,358

 

 

 

 

 

 

66,358

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Share-based compensation expense

 

 

 

 

 

 

 

 

 

 

 

 

 

 

541

 

 

 

 

 

 

 

 

 

 

 

 

541

 

Restricted stock surrendered due to employee tax liability

 

 

 

 

 

(5,161

)

 

 

(5,161

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(134

)

 

 

(134

)

Cash dividends paid (common stock, $0.22/share)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(6,691

)

 

 

 

 

 

(6,691

)

Net income

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

20,695

 

 

 

 

 

 

20,695

 

Change in unrealized gain (loss) on securities available for sale, net of income taxes

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(36,376

)

 

 

 

 

 

 

 

 

(36,376

)

Balance at March 31, 2022

 

 

33,670,197

 

 

 

(3,201,739

)

 

 

30,468,458

 

 

$

33

 

 

$

581,337

 

 

$

(44,819

)

 

$

210,788

 

 

$

(125,887

)

 

$

621,452

 

 

See Accompanying Notes to Consolidated Financial Statements (Unaudited)

 

6


 

 

Hanmi Financial Corporation and Subsidiaries

Consolidated Statements of Cash Flows (Unaudited)

(in thousands)

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

Cash flows from operating activities:

 

 

 

 

 

 

 

 

Net income

 

$

20,695

 

 

$

16,659

 

Adjustments to reconcile net income to net cash provided by operating activities:

 

 

 

 

 

 

 

 

Depreciation and amortization

 

 

6,568

 

 

 

3,850

 

Share-based compensation expense

 

 

541

 

 

 

598

 

Credit loss (recovery) expense

 

 

(1,375

)

 

 

2,109

 

Gain on sales of securities

 

 

 

 

 

(99

)

Gain on sales of SBA loans

 

 

(2,521

)

 

 

(4,125

)

Origination of SBA loans held for sale

 

 

(31,853

)

 

 

(146,670

)

Proceeds from sales of SBA loans

 

 

32,098

 

 

 

126,690

 

Change in bank-owned life insurance

 

 

(244

)

 

 

(256

)

Change in prepaid expenses and other assets

 

 

(13,745

)

 

 

4,945

 

Change in income tax assets

 

 

7,908

 

 

 

3,554

 

Change in accrued expenses and other liabilities

 

 

2,062

 

 

 

(652

)

Net cash provided by (used in) operating activities

 

 

20,134

 

 

 

6,602

 

Cash flows from investing activities:

 

 

 

 

 

 

 

 

Purchases of securities available for sale

 

 

(52,475

)

 

 

(116,026

)

Proceeds from matured, called and repayment of securities

 

 

32,730

 

 

 

67,729

 

Proceeds from sales of securities available for sale

 

 

 

 

 

8,035

 

Purchases of loans receivable

 

 

(11,000

)

 

 

(298

)

Purchases of premises and equipment

 

 

(617

)

 

 

(1,011

)

Proceeds from sales of other real estate owned ("OREO")

 

 

 

 

 

589

 

Change in loans receivable, excluding purchases

 

 

(175,522

)

 

 

58,271

 

Net cash provided by (used in) investing activities

 

 

(206,884

)

 

 

17,289

 

Cash flows from financing activities:

 

 

 

 

 

 

 

 

Change in deposits

 

 

(3,099

)

 

 

234,815

 

Repayment of borrowings

 

 

(12,500

)

 

 

 

Proceeds from repurchased subordinated debentures

 

 

12,700

 

 

 

 

Redemption of subordinated debentures

 

 

(100,000

)

 

 

 

Cash paid for surrender of vested shares due to employee tax liability

 

 

(134

)

 

 

(95

)

Repurchase of common stock

 

 

 

 

 

(946

)

Cash dividends paid

 

 

(6,691

)

 

 

(3,069

)

Net cash provided by (used in) financing activities

 

 

(109,724

)

 

 

230,705

 

Net increase (decrease) in cash and due from banks

 

 

(296,474

)

 

 

254,596

 

Cash and due from banks at beginning of year

 

 

608,965

 

 

 

391,849

 

Cash and due from banks at end of period

 

$

312,491

 

 

$

646,445

 

Supplemental disclosures of cash flow information:

 

 

 

 

 

 

 

 

Interest paid

 

$

6,143

 

 

$

8,267

 

Income taxes paid

 

$

129

 

 

$

125

 

Non-cash activities:

 

 

 

 

 

 

 

 

Transfer of loans receivable to other real estate owned

 

$

 

 

$

1

 

Income tax benefit related to items of other comprehensive income

 

$

15,787

 

 

$

3,515

 

Change in right-of-use asset obtained in exchange for lease liability

 

$

 

 

$

 

 

See Accompanying Notes to Consolidated Financial Statements (Unaudited)

7


 

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 periods ended March 31, 2022, but are not necessarily indicative of the results that will be reported for the entire year or any other interim period. 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. The interim information should be read in conjunction with our Annual Report on Form 10-K for the year ended December 31, 2021 (the “2021 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.

 

The COVID-19 pandemic resulted in restrictions on travel and business activities which have yet to return to pre-pandemic levels. As a result, the operations and business results of the Company could be materially adversely affected. The extent to which the COVID-19 crisis may impact business activity or financial results will depend on future developments, including new information which may emerge concerning the severity of the coronavirus and the actions required to contain the coronavirus or treat its impact, among others, which are highly uncertain and cannot be predicted. This uncertainty may impact the accuracy of our significant estimates, which includes the allowance for credit losses, the allowance for credit losses related to off-balance sheet items, and the valuation of intangible assets including deferred tax assets, goodwill, and servicing assets.

 

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 2021 Annual Report on Form 10-K.

8


 

 

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, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

18,953

 

 

$

 

 

$

(739

)

 

$

18,214

 

U.S. government agency and sponsored agency obligations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

 

618,459

 

 

 

5

 

 

 

(41,588

)

 

 

576,876

 

Collateralized mortgage obligations

 

 

93,324

 

 

 

4

 

 

 

(6,164

)

 

 

87,164

 

Debt securities

 

 

131,370

 

 

 

 

 

 

(6,746

)

 

 

124,624

 

Total U.S. government agency and sponsored agency obligations

 

 

843,153

 

 

 

9

 

 

 

(54,498

)

 

 

788,664

 

Municipal bonds-tax exempt

 

 

78,901

 

 

 

 

 

 

(8,799

)

 

 

70,102

 

Total securities available for sale

 

$

941,007

 

 

$

9

 

 

$

(64,036

)

 

$

876,980

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

15,457

 

 

$

1

 

 

$

(61

)

 

$

15,397

 

U.S. government agency and sponsored agency obligations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

 

615,393

 

 

 

18

 

 

 

(7,906

)

 

 

607,505

 

Collateralized mortgage obligations

 

 

95,153

 

 

 

41

 

 

 

(1,590

)

 

 

93,604

 

Debt securities

 

 

117,499

 

 

 

 

 

 

(1,603

)

 

 

115,896

 

Total U.S. government agency and sponsored agency obligations

 

 

828,045

 

 

 

59

 

 

 

(11,099

)

 

 

817,005

 

Municipal bonds-tax exempt

 

 

79,152

 

 

 

117

 

 

 

(881

)

 

 

78,388

 

Total securities available for sale

 

$

922,654

 

 

$

177

 

 

$

(12,041

)

 

$

910,790

 

 

The amortized cost and estimated fair value of securities as of March 31, 2022 and December 31, 2021, 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.

 

 

 

March 31, 2022

 

 

December 31, 2021

 

 

 

Available for Sale

 

 

Available for Sale

 

 

 

Amortized

 

 

Estimated

 

 

Amortized

 

 

Estimated

 

 

 

Cost

 

 

Fair Value

 

 

Cost

 

 

Fair Value

 

 

 

(in thousands)

 

Within one year

 

$

586

 

 

$

587

 

 

$

1,103

 

 

$

1,108

 

Over one year through five years

 

 

150,937

 

 

 

143,638

 

 

 

126,483

 

 

 

125,069

 

Over five years through ten years

 

 

37,129

 

 

 

35,043

 

 

 

51,338

 

 

 

50,770

 

Over ten years

 

 

752,355

 

 

 

697,712

 

 

 

743,730

 

 

 

733,843

 

Total

 

$

941,007

 

 

$

876,980

 

 

$

922,654

 

 

$

910,790

 

9


 

 

 

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, 2022 and December 31, 2021, 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, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

(739

)

 

$

18,215

 

 

 

5

 

 

$

 

 

$

 

 

 

 

 

$

(739

)

 

$

18,215

 

 

 

5

 

U.S. government agency and sponsored agency obligations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

 

(27,111

)

 

 

409,085

 

 

 

86

 

 

 

(14,477

)

 

 

167,229

 

 

 

35

 

 

$

(41,588

)

 

$

576,314

 

 

 

121

 

Collateralized mortgage obligations

 

 

(4,544

)

 

 

69,210

 

 

 

19

 

 

 

(1,620

)

 

 

16,966

 

 

 

5

 

 

 

(6,164

)

 

 

86,176

 

 

 

24

 

Debt securities

 

 

(5,057

)

 

 

97,814

 

 

 

20

 

 

 

(1,689

)

 

 

26,811

 

 

 

5

 

 

 

(6,746

)

 

 

124,625

 

 

 

25

 

Total U.S. government agency and sponsored agency obligations

 

 

(36,712

)

 

 

576,109

 

 

 

125

 

 

 

(17,786

)

 

 

211,006

 

 

 

45

 

 

 

(54,498

)

 

 

787,115

 

 

 

170

 

Municipal bonds-tax exempt

 

 

(8,799

)

 

 

70,102

 

 

 

19

 

 

 

 

 

 

 

 

 

 

 

 

(8,799

)

 

 

70,102

 

 

 

19

 

Total

 

$

(46,250

)

 

$

664,426

 

 

 

149

 

 

$

(17,786

)

 

$

211,006

 

 

 

45

 

 

$

(64,036

)

 

$

875,432

 

 

 

194

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. Treasury securities

 

$

(61

)

 

$

8,391

 

 

 

2

 

 

$

 

 

$

 

 

 

 

 

$

(61

)

 

$

8,391

 

 

 

2

 

U.S. government agency and sponsored agency obligations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mortgage-backed securities

 

 

(6,252

)

 

 

535,610

 

 

 

102

 

 

 

(1,654

)

 

 

59,457

 

 

 

11

 

 

$

(7,906

)

 

$

595,067

 

 

 

113

 

Collateralized mortgage obligations

 

 

(1,256

)

 

 

76,894

 

 

 

16

 

 

 

(334

)

 

 

12,548

 

 

 

3

 

 

 

(1,590

)

 

 

89,442

 

 

 

19

 

Debt securities

 

 

(1,503

)

 

 

110,996

 

 

 

21

 

 

 

(100

)

 

 

4,900

 

 

 

1

 

 

 

(1,603

)

 

 

115,896

 

 

 

22

 

Total U.S. government agency and sponsored agency obligations

 

 

(9,011

)

 

 

723,500

 

 

 

139

 

 

 

(2,088

)

 

 

76,905

 

 

 

15

 

 

 

(11,099

)

 

 

800,405

 

 

 

154

 

Municipal bonds-tax exempt

 

 

(881

)

 

 

68,548

 

 

 

17

 

 

 

 

 

 

 

 

 

 

 

 

 

(881

)

 

 

68,548

 

 

 

17

 

Total

 

$

(9,953

)

 

$

800,439

 

 

 

158

 

 

$

(2,088

)

 

$

76,905

 

 

 

15

 

 

$

(12,041

)

 

$

877,344

 

 

 

173

 

 

The Company evaluates its available-for-sale securities portfolio for impairment on a quarterly basis. This 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. In the event that a credit loss is expected to occur in the future, an allowance is established and a corresponding credit loss is recognized. Based on this analysis, as of March 31, 2022, the Company determined that no credit losses are expected to be realized on the tax-exempt municipal bond portfolio. The remainder of the 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.

Realized gains and losses on sales of securities and proceeds from sales of securities were as follows for the periods indicated:

 

 

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

(in thousands)

 

Gross realized gains on sales of securities

 

$

 

 

$

99

 

Gross realized losses on sales of securities

 

 

 

 

 

 

Net realized gains on sales of securities

 

$

 

 

$

99

 

Proceeds from sales of securities

 

$

 

 

$

8,035

 

 

 

During the three months ended March 31, 2022, there were no sale of securities. During the three months ended March 31, 2021, there were $0.1 million in net gains in earnings resulting from the sale of $8.0 million of securities previously recorded with $0.1 million unrealized gains in accumulated other comprehensive income.

Securities available for sale with market values of $30.1 million and $34.7 million as of March 31, 2022 and December 31, 2021, respectively, were pledged to secure borrowings from the Federal Reserve Bank (“FRB”) Discount Window.

10


 

At March 31, 2022, 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 percent of shareholders’ equity.

Note 3 — Loans

Loans Receivable

Loans consisted of the following as of the dates indicated:

 

 

 

March 31, 2022

 

 

December 31, 2021

 

 

 

(in thousands)

 

Real estate loans:

 

 

 

 

 

 

 

 

Commercial property

 

 

 

 

 

 

 

 

Retail

 

$

990,716

 

 

$

970,134

 

Hospitality

 

 

718,721

 

 

 

717,692

 

Other (1)

 

 

1,974,091

 

 

 

1,919,033

 

Total commercial property loans

 

 

3,683,528

 

 

 

3,606,859

 

Construction

 

 

87,925

 

 

 

95,006

 

Residential/consumer loans

 

 

432,805

 

 

 

400,546

 

Total real estate loans

 

 

4,204,258

 

 

 

4,102,411

 

Commercial and industrial loans

 

 

633,107

 

 

 

561,831

 

Leases receivable

 

 

500,135

 

 

 

487,299

 

Loans receivable

 

 

5,337,500

 

 

 

5,151,541

 

Allowance for credit losses

 

 

(71,512

)

 

 

(72,557

)

Loans receivable, net

 

$

5,265,988

 

 

$

5,078,984

 

 

(1)

Includes, among other types, mixed-use, apartment, office, industrial, gas stations, faith-based facilities and warehouse; all other property types represent less than one percent of total loans receivable.

 

At March 31, 2022 and December 31, 2021, PPP loans totaling $1.5 million and $3.0 million, respectively, were included in commercial and industrial loans in the table above.

Accrued interest on loans was $10.5 million and $10.1 million at March 31, 2022 and December 31, 2021, respectively. Accrued interest at March 31, 2022 and December 31, 2021 included unpaid deferred interest receivable for loans currently or previously modified under the CARES Act of $2.7 million and $3.4 million, net of a $0 and $1.7 million valuation allowance, respectively.

At March 31, 2022 and December 31, 2021, loans of $2.32 billion and $2.30 billion, respectively, were pledged to secure advances from the FHLB.

11


 

Loans Held for Sale

The following is the activity for loans held for sale for the three months ended March 31, 2022 and 2021:

 

 

 

Real Estate

 

 

Commercial and

Industrial

 

 

Total

 

 

 

(in thousands)

 

March 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

6,954

 

 

$

6,388

 

 

$

13,342

 

Originations and transfers

 

 

20,164

 

 

 

11,689

 

 

 

31,853

 

Sales

 

 

(15,293

)

 

 

(14,284

)

 

 

(29,577

)

Principal paydowns and amortization

 

 

 

 

 

(1

)

 

 

(1

)

Balance at end of period

 

$

11,825

 

 

$

3,792

 

 

$

15,617

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

8,042

 

 

$

526

 

 

$

8,568

 

Originations

 

 

16,283

 

 

 

130,387

 

 

 

146,670

 

Sales

 

 

(13,395

)

 

 

(109,169

)

 

 

(122,564

)

Principal paydowns and amortization

 

 

 

 

 

 

 

 

 

Balance at end of period

 

$

10,930

 

 

$

21,744

 

 

$

32,674

 

 

Loans held for sale was comprised of $15.6 million and $13.3 million of the guaranteed portion of SBA 7(a) loans at March 31, 2022 and December 31, 2021, respectively. All second draw PPP loans were sold by the third quarter of 2021. For the three months ended March 31, 2021, the Company recognized $2.5 million of gains on the sale of $108.5 million second draw PPP loans.

 

Allowance for Credit Losses

 

The following table details the information on the allowance for credit losses by portfolio segment as of and for the three months ended March 31, 2022 and 2021:

 

 

 

Real Estate

 

 

Commercial and

Industrial

 

 

Leases

Receivable

 

 

Total

 

 

 

(in thousands)

 

March 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

48,890

 

 

$

12,418

 

 

$

11,249

 

 

$

72,557

 

Less loans charged off

 

 

530

 

 

 

58

 

 

 

247

 

 

 

835

 

Recoveries on loans receivable previously charged off

 

 

(197

)

 

 

(317

)

 

 

(423

)

 

 

(937

)

Provision (recovery) for credit losses

 

 

(2,202

)

 

 

267

 

 

 

788

 

 

 

(1,147

)

Ending balance

 

$

46,355

 

 

$

12,944

 

 

$

12,213

 

 

$

71,512

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

March 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at beginning of period

 

$

51,877

 

 

$

21,410

 

 

$

17,139

 

 

$

90,426

 

Less loans charged off

 

 

1,509

 

 

 

93

 

 

 

1,903

 

 

 

3,505

 

Recoveries on loans receivable previously charged off

 

 

(273

)

 

 

(99

)

 

 

(135

)

 

 

(507

)

Provision (recovery) for credit losses

 

 

7,121

 

 

 

(5,029

)

 

 

(1,128

)

 

 

964

 

Ending balance

 

$

57,762

 

 

$

16,387

 

 

$

14,243

 

 

$

88,392

 

12


 

 

 

The table below illustrates the allowance for credit losses by loan portfolio segment and each loan portfolio segment as a percentage of total loans.

 

 

 

March 31, 2022

 

 

December 31, 2021

 

 

 

Allowance Amount

 

 

Percentage

of Total

Allowance

 

 

Total Loans

 

 

Percentage of Total Loans

 

 

Allowance Amount

 

 

Percentage

of Total

Allowance

 

 

Total Loans

 

 

Percentage of Total Loans

 

 

 

(dollars in thousands)

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial property

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail

 

$

6,827

 

 

 

9.5

%

 

$

990,716

 

 

 

18.6

%

 

$

6,579

 

 

 

9.1

%

 

$

970,134

 

 

 

18.8

%

Hospitality

 

 

19,625

 

 

 

27.5

%

 

 

718,721

 

 

 

13.5

%

 

 

22,670

 

 

 

31.2

%

 

 

717,692

 

 

 

13.9

%

Other

 

 

15,904

 

 

 

22.2

%

 

 

1,974,091

 

 

 

36.9

%

 

 

15,065

 

 

 

20.8

%

 

 

1,919,033

 

 

 

37.3

%

Total commercial property loans

 

 

42,356

 

 

 

59.2

%

 

 

3,683,528

 

 

 

69.0

%

 

 

44,314

 

 

 

61.1

%

 

 

3,606,859

 

 

 

70.0

%

Construction

 

 

3,531

 

 

 

4.9

%

 

 

87,925

 

 

 

1.6

%

 

 

4,078

 

 

 

5.6

%

 

 

95,006

 

 

 

1.8

%

Residential/consumer loans

 

 

468

 

 

 

0.7

%

 

 

432,805

 

 

 

8.1

%

 

 

498

 

 

 

0.7

%

 

 

400,546

 

 

 

7.8

%

Total real estate loans

 

 

46,355

 

 

 

64.8

%

 

 

4,204,258

 

 

 

78.7

%

 

 

48,890

 

 

 

67.4

%

 

 

4,102,411

 

 

 

79.6

%

Commercial and industrial loans

 

 

12,944

 

 

 

18.1

%

 

 

633,107

 

 

 

11.9

%

 

 

12,418

 

 

 

17.1

%

 

 

561,831

 

 

 

10.9

%

Leases receivable

 

 

12,213

 

 

 

17.1

%

 

 

500,135

 

 

 

9.4

%

 

 

11,249

 

 

 

15.5

%

 

 

487,299

 

 

 

9.5

%

Total

 

$

71,512

 

 

 

100.0

%

 

$

5,337,500

 

 

 

100.0

%

 

$

72,557

 

 

 

100.0

%

 

$

5,151,541

 

 

 

100.0

%

 

The following table represents the amortized cost basis of collateral-dependent loans by class of loans as of March 31, 2022 and December 31, 2021, for which repayment is expected to be obtained through the sale of the underlying collateral.

 

 

 

March 31, 2022

 

 

December 31, 2021

 

 

 

Amortized Cost

 

 

Amortized Cost

 

 

 

(in thousands)

 

Real estate loans:

 

 

 

 

 

 

 

 

Commercial property

 

 

 

 

 

 

 

 

Retail

 

$

1,708

 

 

$

1,917

 

Hospitality

 

 

 

 

 

 

Other (1)

 

 

482

 

 

 

499

 

Total commercial property loans

 

 

2,190

 

 

 

2,416

 

Residential/consumer loans

 

 

951

 

 

 

982

 

Total real estate loans

 

 

3,141

 

 

 

3,398

 

Total

 

$

3,141

 

 

$

3,398

 

 

(1)

Includes, among other types, mixed-use, apartment, office, industrial, gas stations, faith-based facilities and warehouse; all other property types represent less than one percent of total loans receivable.

 

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 0 to 8) for each loan in our portfolio. A third-party loan review is performed at least on an annual basis. Additional adjustments are made when determined to be necessary. The loan grade definitions are as follows:

Pass and Pass-Watch: Pass and Pass-Watch loans, grades (0-4), 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.

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.

13


 

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.

14


 

Loans by Vintage Year and Risk Rating

 

 

 

Term Loans

 

 

 

 

 

 

 

 

 

 

 

Amortized Cost Basis by Origination Year (1)

 

 

 

 

 

 

 

 

 

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

2018

 

 

Prior

 

 

Revolving

Loans

Amortized

Cost Basis

 

 

Total

 

 

 

(in thousands)

 

March 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial property

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass-Watch

 

$

459,277

 

 

$

1,036,000

 

 

$

664,427

 

 

$

462,571

 

 

$

365,194

 

 

$

517,843

 

 

$

44,192

 

 

$

3,549,504

 

Special Mention

 

 

 

 

 

19,530

 

 

 

16,932

 

 

 

9,720

 

 

 

21,746

 

 

 

18,266

 

 

 

1,702

 

 

 

87,896

 

Classified

 

 

858

 

 

 

 

 

 

 

 

 

5,875

 

 

 

17,228

 

 

 

22,167

 

 

 

 

 

 

46,128

 

Total commercial property

 

 

460,135

 

 

 

1,055,530

 

 

 

681,359

 

 

 

478,166

 

 

 

404,168

 

 

 

558,276

 

 

 

45,894

 

 

 

3,683,528

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass Watch

 

 

1,147

 

 

 

63,764

 

 

 

602

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

65,513

 

Special Mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

22,412

 

 

 

 

 

 

22,412

 

Classified

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total construction

 

 

1,147

 

 

 

63,764

 

 

 

602

 

 

 

 

 

 

 

 

 

22,412

 

 

 

 

 

 

87,925

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential/consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass-Watch

 

 

60,512

 

 

 

189,043

 

 

 

15,420

 

 

 

243

 

 

 

17,446

 

 

 

141,405

 

 

 

7,483

 

 

 

431,552

 

Special Mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

289

 

 

 

 

 

 

289

 

Classified

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

964

 

 

 

 

 

 

964

 

Total residential/consumer loans

 

 

60,512

 

 

 

189,043

 

 

 

15,420

 

 

 

243

 

 

 

17,446

 

 

 

142,658

 

 

 

7,483

 

 

 

432,805

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total real estate loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass-Watch

 

 

520,936

 

 

 

1,288,807

 

 

 

680,449

 

 

 

462,814

 

 

 

382,640

 

 

 

659,248

 

 

 

51,675

 

 

 

4,046,569

 

Special Mention

 

 

 

 

 

19,530

 

 

 

16,932

 

 

 

9,720

 

 

 

21,746

 

 

 

40,967

 

 

 

1,702

 

 

 

110,597

 

Classified

 

 

858

 

 

 

 

 

 

 

 

 

5,875

 

 

 

17,228

 

 

 

23,131

 

 

 

 

 

 

47,092

 

Total real estate loans

 

 

521,794

 

 

 

1,308,337

 

 

 

697,381

 

 

 

478,409

 

 

 

421,614

 

 

 

723,346

 

 

 

53,377

 

 

 

4,204,258

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass-Watch

 

 

198,803

 

 

 

152,230

 

 

 

51,415

 

 

 

34,109

 

 

 

14,216

 

 

 

12,567

 

 

 

135,207

 

 

 

598,547

 

Special Mention

 

 

 

 

 

8,808

 

 

 

 

 

 

13,853

 

 

 

 

 

 

4,703

 

 

 

2,997

 

 

 

30,361

 

Classified

 

 

 

 

 

 

 

 

 

 

 

283

 

 

 

129

 

 

 

738

 

 

 

3,049

 

 

 

4,199

 

Total commercial and industrial loans

 

 

198,803

 

 

 

161,038

 

 

 

51,415

 

 

 

48,245

 

 

 

14,345

 

 

 

18,008

 

 

 

141,253

 

 

 

633,107

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Leases receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass-Watch

 

 

68,511

 

 

 

222,018

 

 

 

69,739

 

 

 

86,682

 

 

 

38,946

 

 

 

8,126

 

 

 

 

 

 

494,022

 

Special Mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Classified

 

 

 

 

 

1,050

 

 

 

492

 

 

 

3,175

 

 

 

1,123

 

 

 

273

 

 

 

 

 

 

6,113

 

Total leases receivable

 

 

68,511

 

 

 

223,068

 

 

 

70,231

 

 

 

89,857

 

 

 

40,069

 

 

 

8,399

 

 

 

 

 

 

500,135

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total loans receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass-Watch

 

 

788,250

 

 

 

1,663,055

 

 

 

801,603

 

 

 

583,605

 

 

 

435,802

 

 

 

679,941

 

 

 

186,882

 

 

 

5,139,138

 

Special Mention

 

 

 

 

 

28,338

 

 

 

16,932

 

 

 

23,573

 

 

 

21,746

 

 

 

45,670

 

 

 

4,699

 

 

 

140,958

 

Classified

 

 

858

 

 

 

1,050

 

 

 

492

 

 

 

9,333

 

 

 

18,480

 

 

 

24,142

 

 

 

3,049

 

 

 

57,404

 

Total loans receivable

 

$

789,108

 

 

$

1,692,443

 

 

$

819,027

 

 

$

616,511

 

 

$

476,028

 

 

$

749,753

 

 

$

194,630

 

 

$

5,337,500

 

 

(1)

Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision. Certain prior period amounts have been reclassified to conform to current period presentation.

15


 

 

 

 

Term Loans

 

 

 

 

 

 

 

 

 

 

 

Amortized Cost Basis by Origination Year (1)

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

2020

 

 

2019

 

 

2018

 

 

2017

 

 

Prior

 

 

Revolving

Loans

Amortized

Cost Basis

 

 

Total

 

 

 

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial property

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass-Watch

 

$

1,203,197

 

 

$

706,470

 

 

$

488,250

 

 

$

406,288

 

 

$

277,680

 

 

$

384,064

 

 

$

41,413

 

 

$

3,507,362

 

Special Mention

 

 

 

 

 

18,869

 

 

 

7,593

 

 

 

 

 

 

6,999

 

 

 

16,879

 

 

 

1,703

 

 

 

52,043

 

Classified

 

 

 

 

 

 

 

 

5,450

 

 

 

17,247

 

 

 

2,965

 

 

 

21,792

 

 

 

 

 

 

47,454

 

Total commercial property

 

 

1,203,197

 

 

 

725,339

 

 

 

501,293

 

 

 

423,535

 

 

 

287,644

 

 

 

422,735

 

 

 

43,116

 

 

 

3,606,859

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass-Watch

 

 

73,808

 

 

 

631

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

74,439

 

Special Mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

20,567

 

 

 

 

 

 

20,567

 

Classified

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total construction

 

 

73,808

 

 

 

631

 

 

 

 

 

 

 

 

 

 

 

 

20,567

 

 

 

 

 

 

95,006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential/consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass-Watch

 

 

194,948

 

 

 

16,975

 

 

 

247

 

 

 

19,813

 

 

 

73,567

 

 

 

82,076

 

 

 

8,381

 

 

 

396,007

 

Special Mention

 

 

 

 

 

 

 

 

 

 

 

930

 

 

 

406

 

 

 

2,221

 

 

 

 

 

 

3,557

 

Classified

 

 

 

 

 

 

 

 

 

 

 

 

 

 

965

 

 

 

17

 

 

 

 

 

 

982

 

Total residential/consumer loans

 

 

194,948

 

 

 

16,975

 

 

 

247

 

 

 

20,743

 

 

 

74,938

 

 

 

84,314

 

 

 

8,381

 

 

 

400,546

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total real estate loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass-Watch

 

 

1,471,953

 

 

 

724,076

 

 

 

488,497

 

 

 

426,101

 

 

 

351,247

 

 

 

466,140

 

 

 

49,794

 

 

 

3,977,808

 

Special Mention

 

 

 

 

 

18,869

 

 

 

7,593

 

 

 

930

 

 

 

7,405

 

 

 

39,667

 

 

 

1,703

 

 

 

76,167

 

Classified

 

 

 

 

 

 

 

 

5,450

 

 

 

17,247

 

 

 

3,930

 

 

 

21,809

 

 

 

 

 

 

48,436

 

Total real estate loans

 

 

1,471,953

 

 

 

742,945

 

 

 

501,540

 

 

 

444,278

 

 

 

362,582

 

 

 

527,616

 

 

 

51,497

 

 

 

4,102,411

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass-Watch

 

 

264,762

 

 

 

55,135

 

 

 

36,937

 

 

 

15,780

 

 

 

10,874

 

 

 

6,016

 

 

 

148,148

 

 

 

537,652

 

Special Mention

 

 

 

 

 

274

 

 

 

13,989

 

 

 

 

 

 

67

 

 

 

4,802

 

 

 

(5

)

 

 

19,127

 

Classified

 

 

 

 

 

3

 

 

 

708

 

 

 

145

 

 

 

19

 

 

 

886

 

 

 

3,291

 

 

 

5,052

 

Total commercial and industrial loans

 

 

264,762

 

 

 

55,412

 

 

 

51,634

 

 

 

15,925

 

 

 

10,960

 

 

 

11,704

 

 

 

151,434

 

 

 

561,831

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Leases receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass-Watch

 

 

239,738

 

 

 

79,400

 

 

 

101,460

 

 

 

47,485

 

 

 

10,683

 

 

 

1,388

 

 

 

 

 

 

480,154

 

Special Mention

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Classified

 

 

716

 

 

 

981

 

 

 

3,575

 

 

 

1,328

 

 

 

347

 

 

 

198

 

 

 

 

 

 

7,145

 

Total leases receivable

 

 

240,454

 

 

 

80,381

 

 

 

105,035

 

 

 

48,813

 

 

 

11,030

 

 

 

1,586

 

 

 

 

 

 

487,299

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total loans receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Risk Rating

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass / Pass-Watch

 

 

1,976,453

 

 

 

858,611

 

 

 

626,894

 

 

 

489,366

 

 

 

372,804

 

 

 

473,544

 

 

 

197,942

 

 

 

4,995,614

 

Special Mention

 

 

 

 

 

19,143

 

 

 

21,582

 

 

 

930

 

 

 

7,472

 

 

 

44,469

 

 

 

1,698

 

 

 

95,294

 

Classified

 

 

716

 

 

 

984

 

 

 

9,733

 

 

 

18,720

 

 

 

4,296

 

 

 

22,893

 

 

 

3,291

 

 

 

60,633

 

Total loans receivable

 

$

1,977,169

 

 

$

878,738

 

 

$

658,209

 

 

$

509,016

 

 

$

384,572

 

 

$

540,906

 

 

$

202,931

 

 

$

5,151,541

 

 

(1)

Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision. Certain prior period amounts have been reclassified to conform to current period presentation.

16


 

Loans by Vintage Year and Payment Performance

 

 

 

 

Term Loans

 

 

 

 

 

 

 

 

 

 

 

Amortized Cost Basis by Origination Year (1)

 

 

 

 

 

 

 

 

 

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

2018

 

 

Prior

 

 

Revolving

Loans

Amortized

Cost Basis

 

 

Total

 

 

 

(in thousands)

 

March 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial property

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

460,135

 

 

$

1,055,530

 

 

$

681,359

 

 

$

478,166

 

 

$

404,168

 

 

$

554,596

 

 

$

45,894

 

 

$

3,679,848

 

Nonperforming

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

3,680

 

 

 

 

 

 

3,680

 

Total commercial property

 

 

460,135

 

 

 

1,055,530

 

 

 

681,359

 

 

 

478,166

 

 

 

404,168

 

 

 

558,276

 

 

 

45,894

 

 

 

3,683,528

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

1,147

 

 

 

63,764

 

 

 

602

 

 

 

 

 

 

 

 

 

22,412

 

 

 

 

 

 

87,925

 

Nonperforming

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total construction

 

 

1,147

 

 

 

63,764

 

 

 

602

 

 

 

 

 

 

 

 

 

22,412

 

 

 

 

 

 

87,925

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential/consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

60,512

 

 

 

189,043

 

 

 

15,420

 

 

 

243

 

 

 

17,446

 

 

 

141,457

 

 

 

7,483

 

 

 

431,604

 

Nonperforming

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

1,201

 

 

 

 

 

 

1,201

 

Total residential/consumer loans

 

 

60,512

 

 

 

189,043

 

 

 

15,420

 

 

 

243

 

 

 

17,446

 

 

 

142,658

 

 

 

7,483

 

 

 

432,805

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total real estate loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

521,794

 

 

 

1,308,337

 

 

 

697,381

 

 

 

478,409

 

 

 

421,614

 

 

 

718,465

 

 

 

53,377

 

 

 

4,199,377

 

Nonperforming

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4,881

 

 

 

 

 

 

4,881

 

Total real estate loans

 

 

521,794

 

 

 

1,308,337

 

 

 

697,381

 

 

 

478,409

 

 

 

421,614

 

 

 

723,346

 

 

 

53,377

 

 

 

4,204,258

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

198,803

 

 

 

161,038

 

 

 

51,415

 

 

 

48,014

 

 

 

14,345

 

 

 

17,763

 

 

 

141,253

 

 

 

632,631

 

Nonperforming

 

 

 

 

 

 

 

 

 

 

 

231

 

 

 

 

 

 

245

 

 

 

 

 

 

 

476

 

Total commercial and industrial loans

 

 

198,803

 

 

 

161,038

 

 

 

51,415

 

 

 

48,245

 

 

 

14,345

 

 

 

18,008

 

 

 

141,253

 

 

 

633,107

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Leases receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

68,511

 

 

 

222,018

 

 

 

69,739

 

 

 

86,682

 

 

 

38,946

 

 

 

8,126

 

 

 

 

 

 

494,022

 

Nonperforming

 

 

 

 

 

1,050

 

 

 

492

 

 

 

3,175

 

 

 

1,123

 

 

 

273

 

 

 

 

 

 

6,113

 

Total leases receivable

 

 

68,511

 

 

 

223,068

 

 

 

70,231

 

 

 

89,857

 

 

 

40,069

 

 

 

8,399

 

 

 

 

 

 

500,135

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total loans receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

789,108

 

 

 

1,691,393

 

 

 

818,535

 

 

 

613,105

 

 

 

474,905

 

 

 

744,354

 

 

 

194,630

 

 

 

5,326,030

 

Nonperforming

 

 

 

 

 

1,050

 

 

 

492

 

 

 

3,406

 

 

 

1,123

 

 

 

5,399

 

 

 

 

 

 

11,470

 

Total loans receivable

 

$

789,108

 

 

$

1,692,443

 

 

$

819,027

 

 

$

616,511

 

 

$

476,028

 

 

$

749,753

 

 

$

194,630

 

 

$

5,337,500

 

 

(1)

Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision. Certain prior period amounts have been reclassified to conform to current period presentation.

17


 

 

 

 

Term Loans

 

 

 

 

 

 

 

 

 

 

 

Amortized Cost Basis by Origination Year (1)

 

 

 

 

 

 

 

 

 

 

 

2021

 

 

2020

 

 

2019

 

 

2018

 

 

2017

 

 

Prior

 

 

Revolving

Loans

Amortized

Cost Basis

 

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial property

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

$

1,203,197

 

 

$

725,339

 

 

$

501,293

 

 

$

423,515

 

 

$

286,935

 

 

$

419,464

 

 

$

43,116

 

 

$

3,602,859

 

Nonperforming

 

 

 

 

 

 

 

 

 

 

 

20

 

 

 

709

 

 

 

3,271

 

 

 

 

 

 

4,000

 

Total commercial property

 

 

1,203,197

 

 

 

725,339

 

 

 

501,293

 

 

 

423,535

 

 

 

287,644

 

 

 

422,735

 

 

 

43,116

 

 

 

3,606,859

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

73,808

 

 

 

631

 

 

 

 

 

 

 

 

 

 

 

 

20,567

 

 

 

 

 

 

95,006

 

Nonperforming

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total construction

 

 

73,808

 

 

 

631

 

 

 

 

 

 

 

 

 

 

 

 

20,567

 

 

 

 

 

 

95,006

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential/consumer loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

194,948

 

 

 

16,975

 

 

 

247

 

 

 

20,743

 

 

 

73,973

 

 

 

84,052

 

 

 

8,381

 

 

 

399,319

 

Nonperforming

 

 

 

 

 

 

 

 

 

 

 

 

 

 

965

 

 

 

262

 

 

 

 

 

 

1,227

 

Total residential/consumer loans

 

 

194,948

 

 

 

16,975

 

 

 

247

 

 

 

20,743

 

 

 

74,938

 

 

 

84,314

 

 

 

8,381

 

 

 

400,546

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total real estate loans

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

1,471,953

 

 

 

742,945

 

 

 

501,540

 

 

 

444,258

 

 

 

360,908

 

 

 

524,083

 

 

 

51,497

 

 

 

4,097,184

 

Nonperforming

 

 

 

 

 

 

 

 

 

 

 

20

 

 

 

1,674

 

 

 

3,533

 

 

 

 

 

 

5,227

 

Total real estate loans

 

 

1,471,953

 

 

 

742,945

 

 

 

501,540

 

 

 

444,278

 

 

 

362,582

 

 

 

527,616

 

 

 

51,497

 

 

 

4,102,411

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

264,762

 

 

 

55,409

 

 

 

50,926

 

 

 

15,925

 

 

 

10,956

 

 

 

11,431

 

 

 

151,434

 

 

 

560,843

 

Nonperforming

 

 

 

 

 

3

 

 

 

708

 

 

 

 

 

 

4

 

 

 

273

 

 

 

 

 

 

988

 

Total commercial and industrial loans

 

 

264,762

 

 

 

55,412

 

 

 

51,634

 

 

 

15,925

 

 

 

10,960

 

 

 

11,704

 

 

 

151,434

 

 

 

561,831

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Leases receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

239,738

 

 

 

79,400

 

 

 

101,460

 

 

 

47,484

 

 

 

10,684

 

 

 

1,388

 

 

 

 

 

 

480,154

 

Nonperforming

 

 

716

 

 

 

981

 

 

 

3,575

 

 

 

1,329

 

 

 

346

 

 

 

198

 

 

 

 

 

 

7,145

 

Total leases receivable

 

 

240,454

 

 

 

80,381

 

 

 

105,035

 

 

 

48,813

 

 

 

11,030

 

 

 

1,586

 

 

 

 

 

 

487,299

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total loans receivable:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Payment performance

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

1,976,453

 

 

 

877,754

 

 

 

653,926

 

 

 

507,667

 

 

 

382,548

 

 

 

536,902

 

 

 

202,931

 

 

 

5,138,181

 

Nonperforming

 

 

716

 

 

 

984

 

 

 

4,283

 

 

 

1,349

 

 

 

2,024

 

 

 

4,004

 

 

 

 

 

 

13,360

 

Total loans receivable

 

$

1,977,169

 

 

$

878,738

 

 

$

658,209

 

 

$

509,016

 

 

$

384,572

 

 

$

540,906

 

 

$

202,931

 

 

$

5,151,541

 

 

(1)

Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision. Certain prior period amounts have been reclassified to conform to current period presentation.

 

18


 

 

The following is an aging analysis of loans, disaggregated by loan class, as of the dates indicated:

 

 

 

30-59

Days

Past Due

 

 

60-89

Days

Past Due

 

 

90 Days

or More

Past Due

 

 

Total

Past Due

 

 

Current

 

 

Total

 

 

Accruing

90 Days

or More

Past Due

 

 

 

(in thousands)

 

March 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial property

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail

 

$

 

 

$

 

 

$

 

 

$

 

 

$

990,716

 

 

$

990,716

 

 

$

 

Hospitality

 

 

 

 

 

 

 

 

 

 

 

 

 

 

718,721

 

 

 

718,721

 

 

 

 

Other

 

 

120

 

 

 

 

 

 

482

 

 

 

602

 

 

 

1,973,489

 

 

 

1,974,091

 

 

 

 

Total commercial property loans

 

 

120

 

 

 

 

 

 

482

 

 

 

602

 

 

 

3,682,926

 

 

 

3,683,528

 

 

 

 

Construction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

87,925

 

 

 

87,925

 

 

 

 

Residential/consumer loans

 

 

1,871

 

 

 

 

 

 

534

 

 

 

2,405

 

 

 

430,400

 

 

 

432,805

 

 

 

 

Total real estate loans

 

 

1,991

 

 

 

 

 

 

1,016

 

 

 

3,007

 

 

 

4,201,251

 

 

 

4,204,258

 

 

 

 

Commercial and industrial loans

 

 

64

 

 

 

 

 

 

 

 

 

64

 

 

 

633,043

 

 

 

633,107

 

 

 

 

Leases receivable

 

 

3,414

 

 

 

1,099

 

 

 

1,748

 

 

 

6,261

 

 

 

493,874

 

 

 

500,135

 

 

 

 

Total loans receivable

 

$

5,469

 

 

$

1,099

 

 

$

2,764

 

 

$

9,332

 

 

$

5,328,168

 

 

$

5,337,500

 

 

$

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial property

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Retail

 

$

 

 

$

 

 

$

 

 

$

 

 

$

970,134

 

 

$

970,134

 

 

$

 

Hospitality

 

 

556

 

 

 

 

 

 

 

 

 

556

 

 

 

717,136

 

 

 

717,692

 

 

 

 

Other

 

 

92