Hanmi Financial Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Investment Securities (Tables)

Investment Securities (Tables)

9 Months Ended

Sep. 30, 2013

Investments Debt And Equity Securities [Abstract]

Summary of Investment Securities Available-for-Sale

The following is a summary of investment securities available-for-sale as of September 30, 2013 and December 31, 2012:


			Gross		Gross		Estimated
	Amortized		Unrealized		Unrealized		Fair
	Cost		Gain		Loss		Value
	(In thousands)
September 30, 2013
Mortgage-backed securities ⁽¹⁾	$	129,463	$	793	$	3,171	$	127,085
U.S. government agency securities		98,844		4		5,970		92,878
Collateralized mortgage obligations ⁽¹⁾		85,191		773		854		85,110
Municipal bonds-tax exempt		6,438		61		13		6,486
Municipal bonds-taxable		35,290		219		721		34,788
Corporate bonds		20,478		210		205		20,483
SBA loan pool securities		13,826		—		905		12,921
Other securities		3,025		—		104		2,921
Equity securities		218		167		—		385

Total securities available-for-sale	$	392,773	$	2,227	$	11,943	$	383,057

December 31, 2012
Mortgage-backed securities ⁽¹⁾	$	157,185	$	3,327	$	186	$	160,326
U.S. government agency securities		92,990		222		94		93,118
Collateralized mortgage obligations ⁽¹⁾		98,821		1,775		109		100,487
Municipal bonds-tax exempt		12,209		603		—		12,812
Municipal bonds-taxable		44,248		2,029		135		46,142
Corporate bonds		20,470		176		246		20,400
SBA loan pool securities		14,104		4		82		14,026
Other securities		3,331		73		47		3,357
Equity securities		354		78		40		392

Total securities available-for-sale	$	443,712	$	8,287	$	939	$	451,060

(1)

Collateralized by residential mortgages and guaranteed by U.S. government sponsored entities

Schedule of Investment Securities

The amortized cost and estimated fair value of investment securities as of September 30, 2013, by contractual maturity, are shown below. Although mortgage-backed securities and collateralized mortgage obligations have contractual maturities through 2063, expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.


	Available-for-Sale
	Amortized		Estimated
	Cost		Fair Value
	(In thousands)
Within one year	$	—	$	—
Over one year through five years		33,325		33,315
Over five years through ten years		105,186		100,320
Over ten years		39,390		36,842
Mortgage-backed securities		129,463		127,085
Collateralized mortgage obligations		85,191		85,110
Equity securities		218		385

Total	$	392,773	$	383,057

Continuous Unrealized Loss Position

Gross unrealized losses on investment securities available-for-sale, the estimated fair value of the related securities and the number of securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows as of September 30, 2013 and December 31, 2012:


	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)
September 30, 2013
Mortgage-backed securities	$	1,552	$	64,931		21	$	1,619	$	22,774		9	$	3,171	$	87,705		30
U.S. government agency securities		4,577		70,263		26		1,393		19,603		7		5,970		89,866		33
Collateralized mortgage obligations		500		24,478		12		354		9,610		4		854		34,088		16
Municipal bonds-tax exempt		13		4,065		2		—		—		—		13		4,065		2
Municipal bonds-taxable		479		19,783		14		242		3,876		4		721		23,659		18
Corporate bonds		91		4,899		1		114		6,874		2		205		11,773		3
SBA loan pool securities		229		2,714		1		676		10,207		3		905		12,921		4
Other securities		18		1,994		3		86		927		2		104		2,921		5

Total	$	7,459	$	193,127		80	$	4,484	$	73,871		31	$	11,943	$	266,998		111

December 31, 2012
Mortgage-backed securities	$	186	$	28,354		10	$	—	$	—		—	$	186	$	28,354		10
U.S. government agency securities		94		26,894		9		—		—		—		94		26,894		9
Collateralized mortgage obligations		109		14,344		5		—		—		—		109		14,344		5
Municipal bonds-taxable		126		4,587		4		9		1,964		3		135		6,551		7
Corporate bonds		—		—		—		246		10,738		3		246		10,738		3
SBA loan pool securities		82		11,004		3		—		—		—		82		11,004		3
Other securities		1		12		1		46		953		1		47		965		2
Equity securities		40		96		1		—		—		—		40		96		1

Total	$	638	$	85,291		33	$	301	$	13,655		7	$	939	$	98,946		40

Realized Gains and Losses on Sales of Investment Securities

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


	Three Months Ended					Nine Months Ended
	September 30,					September 30,
	2013			2012		2013			2012
	(In thousands)
Gross realized gains on sales of investment securities	$	619		$	10	$	932		$	1,442
Gross realized losses on sales of investment securities		(8	)		—		(9	)		(50	)

Net realized gains on sales of investment securities	$	611		$	10	$	923		$	1,392

Proceeds from sales of investment securities	$	26,661		$	8,000	$	51,425		$	96,538
Tax expense on sales of investment securities	$	257		$	4	$	388		$	585

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details