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

Off-Balance Sheet Commitments (Tables)

6 Months Ended

Jun. 30, 2021

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

	June 30,		December 31,
	2021		2020
	(in thousands)
Commitments to extend credit	$	552,773	$	453,900
Standby letters of credit		53,453		47,169
Commercial letters of credit		44,890		54,547
Total undisbursed loan commitments	$	651,116	$	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 June 30,				Six Months Ended June 30,
	2021		2020		2021		2020
	(in thousands)
Balance at beginning of period	$	2,342	$	2,885	$	2,792	$	2,397
Adjustment related to adoption of ASU 2016-13		—		—		—		(335	)
Adjusted balance		2,342		2,885		2,792		2,062
Provision expense (income) for credit losses		1,301		3,462		851		4,285
Balance at end of period	$	3,643	$	6,347	$	3,643	$	6,347