Annual report pursuant to Section 13 and 15(d)

Condensed Financial Information of Parent Company (Tables)

v2.4.1.9
Condensed Financial Information of Parent Company (Tables)
12 Months Ended
Dec. 31, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Balance Sheets of Parent Company

Balance Sheets

 

     Year Ended December 31,  
     2014      2013  
     (In thousands)  
Assets      

Cash

   $ 18,688       $ 13,657   

Investment in consolidated subsidiaries

     450,572         385,110   

Other assets

     4,247         1,928   
  

 

 

    

 

 

 

Total assets

$ 473,508    $ 400,695   
  

 

 

    

 

 

 
Liabilities and Stockholders’ Equity

Liabilities:

Subordinated debentures

$ 18,544    $ —     

Other liabilities

  1,577      618   

Stockholders’ equity

  453,387      400,077   
  

 

 

    

 

 

 

Total liabilities and stockholders’ equity

$ 473,508    $ 400,695   
  

 

 

    

 

 

 
Statement of Income of Parent Company
     Year Ended December 31,  
     2014      2013      2012  
     (In thousands)  

Equity in earnings of subsidiaries

   $ 39,576       $ 42,937       $ 96,300   

Other income (expenses), net

     10,185         (3,080      (5,976
  

 

 

    

 

 

    

 

 

 

Net income

$ 49,761    $ 39,857    $ 90,324   
  

 

 

    

 

 

    

 

 

 
Statement of Cash Flows of Parent Company
     Year Ended December 31,  
     2014     2013     2012  
     (In thousands)  

Cash Flows from Operating Activities:

      

Net income

   $ 49,761      $ 39,857      $ 90,324   

Adjustments to reconcile net income to net cash used in operating activities:

      

(Income) losses from subsidiaries

     (39,576     (42,937     (96,300

Amortization of subordinated debentures

     71        —          —     

Share-based compensation expense

     2,165        705        478   

Changes in fair value of stock warrants

     —          82        23   

Bargain purchase gain

     (14,577     —          —     

Gain on sale of investment securities

     —          (218     —     

Other-than-temporary loss on investment securities

     —          —          292   

Change in other assets

     (2,319     (923     (330

Change in other liabilities

     15,715        (8,897     (1,481
  

 

 

   

 

 

   

 

 

 

Net cash provided by (used in) operating activities

  11,240      (12,331   (6,994
  

 

 

   

 

 

   

 

 

 

Cash Flows from Investing Activities:

Proceeds from sale of security available for sale

  —        436      —     

Cash acquired in acquisition, net of cash consideration paid

  116,967      —        —     

Proceeds from Hanmi Bank

  76,231      86,845      —     

Payments to Hanmi Bank

  (193,179   —        —     
  

 

 

   

 

 

   

 

 

 

Net cash provided by investing activities

  19      87,281      —     
  

 

 

   

 

 

   

 

 

 

Cash Flows from Financing Activities:

Proceeds from exercise of stock options and stock warrants

  467      830      10   

Redemption of subordinated debentures

  —        (82,406   —     

Cash dividend paid

  (6,694   (4,439   —     
  

 

 

   

 

 

   

 

 

 

Net cash (used in) provided by financing activities

  (6,227   (86,015   10   
  

 

 

   

 

 

   

 

 

 

Net increase (decrease) in cash

  5,032      (11,065   (6,984

Cash at beginning of year

  13,657      24,722      31,706   
  

 

 

   

 

 

   

 

 

 

Cash at end of year

$ 18,689    $ 13,657    $ 24,722