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

Off-Balance Sheet Commitments (Tables)

3 Months Ended

Mar. 31, 2021

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

	March 31,		December 31,
	2021		2020
	(in thousands)
Commitments to extend credit	$	463,841	$	453,900
Standby letters of credit		48,922		47,169
Commercial letters of credit		68,098		54,547
Total undisbursed loan commitments	$	580,861	$	555,616

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

	Three Months Ended March 31,
	2021			2020
	(in thousands)
Balance at beginning of period	$	2,792		$	2,397
Adjustment related to adoption of ASU 2016-13		—			(335	)
Adjusted balance		2,792			2,062
Provision expense (income) for credit losses		(450	)		823
Balance at end of period	$	2,342		$	2,885