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

Off-Balance Sheet Commitments (Tables)

9 Months Ended

Sep. 30, 2020

The following table shows the distribution of undisbursed loan commitments as of the dates indicated:

	September 30,		December 31,
	2020		2019
	(in thousands)
Commitments to extend credit	$	444,782	$	371,287
Standby letters of credit		48,513		31,372
Commercial letters of credit		17,577		11,133
Total undisbursed loan commitments	$	510,872	$	413,792

Activity in the allowance for credit losses related to off-balance sheet items was as follows for the periods indicated:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2020			2019		2020			2019
	(in thousands)
Balance at beginning of period	$	6,347		$	1,333	$	2,397		$	1,439
Adjustment related to adoption of ASU 2016-13		—			—		(335	)		—
Adjusted balance		6,347			1,333		2,062			1,439
Provision expense (income) for credit losses		(658	)		209		3,627			103
Balance at end of period	$	5,689		$	1,542	$	5,689		$	1,542