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)

3 Months Ended

Mar. 31, 2015

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 March 31, 2015 and December 31, 2014:


	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value
	(In thousands)
March 31, 2015
Mortgage-backed securities ^{(1) (2)}	$	485,112	$	8,329	$	545	$	492,896
Collateralized mortgage obligations ⁽¹⁾		164,163		1,719		477		165,405
U.S. government agency securities		63,967		12		624		63,355
SBA loan pool securities		75,236		70		279		75,027
Municipal bonds-tax exempt		3,604		72		—		3,676
Municipal bonds-taxable		16,562		561		81		17,042
Corporate bonds		17,018		14		48		16,984
U.S. treasury securities		162		1		—		163
Other securities		22,916		260		76		23,100
Equity securities		450		—		34		416

Total securities available for sale	$	849,190	$	11,038	$	2,164	$	858,064

December 31, 2014
Mortgage-backed securities ^{(1) (2)}	$	571,678	$	2,811	$	1,203	$	573,286
Collateralized mortgage obligations ⁽¹⁾		188,704		417		1,074		188,047
U.S. government agency securities		129,857		172		1,822		128,207
SBA loan pool securities		109,983		52		588		109,447
Municipal bonds-tax exempt		4,319		71		—		4,390
Municipal bonds-taxable		16,615		398		91		16,922
Corporate bonds		17,018		2		72		16,948
U.S. treasury securities		163		—		—		163
Other securities		22,916		57		80		22,893
Equity securities		450		—		36		414

Total securities available for sale	$	1,061,703	$	3,980	$	4,966	$	1,060,717

⁽¹⁾

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

⁽²⁾

A portion of the mortgage-backed securities is comprised of home mortgage-backed securities backed by home equity conversion mortgages

Schedule of Amortized Cost and Estimated Fair Value of Investment Securities by Contractual Maturity

The amortized cost and estimated fair value of investment securities as of March 31, 2015, by contractual maturity, are shown below. Although mortgage-backed securities and collateralized mortgage obligations have contractual maturities through 2064, 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	$	11,995	$	11,948
Over one year through five years		11,341		11,363
Over five years through ten years		88,960		89,001
Over ten years		64,253		63,935
Mortgage-backed securities		485,112		492,896
Collateralized mortgage obligations		164,163		165,405
Other securities		22,916		23,100
Equity securities		450		416

Total	$	849,190	$	858,064

Available for Sale Securities, Continuous Unrealized Loss Position, Fair value

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 March 31, 2015 and December 31, 2014:


	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, 2015
Mortgage-backed securities	$	88	$	29,430		13	$	457	$	23,906		9	$	545	$	53,336		22
Collateralized mortgage obligations		51		34,752		9		426		30,146		12		477		64,898		21
U.S. government agency securities		127		23,864		9		497		30,480		10		624		54,344		19
SBA loan pool securities		12		14,781		3		267		11,837		4		279		26,618		7
Municipal bonds-taxable		2		1,517		2		79		802		1		81		2,319		3
Corporate bonds		—		—		—		48		7,947		2		48		7,947		2
Other securities		—		—		—		76		949		3		76		949		3
Equity Securities		34		216		1		—		—		—		34		216		1

Total	$	314	$	104,560		37	$	1,850	$	106,067		41	$	2,164	$	210,627		78

December 31, 2014
Mortgage-backed securities	$	288	$	102,704		21	$	915	$	50,625		19	$	1,203	$	153,329		40
Collateralized mortgage obligations		350		78,191		21		724		33,308		13		1,074		111,499		34
U.S. government agency securities		—		5,000		1		1,822		73,142		26		1,822		78,142		27
SBA loan pool securities		155		85,062		15		433		11,975		4		588		97,037		19
Municipal bonds-taxable		—		—		—		91		5,538		5		91		5,538		5
Corporate bonds		4		5,021		1		68		7,925		2		72		12,946		3
Other securities		—		—		—		80		1,945		4		80		1,945		4
Equity Securities		36		214		1		—		—		—		36		214		1

Total	$	833	$	276,192		60	$	4,133	$	184,458		73	$	4,966	$	460,650		133

Realized Gains and Losses on Sales of Investment Securities

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


	Three Months Ended March 31,
	2015			2014
	(In thousands)
Gross realized gains on sales of investment securities	$	2,194		$	1,421
Gross realized losses on sales of investment securities		(10	)		—

Net realized gains on sales of investment securities	$	2,184		$	1,421

Proceeds from sales of investment securities	$	176,848		$	85,234