Hanmi Financial Corporation Annual report pursuant to Section 13 and 15(d)

Off-Balance Sheet Commitments (Tables)

12 Months Ended

Dec. 31, 2021

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

	December 31,
	2021		2020
	(in thousands)
Commitments to extend credit	$	626,474	$	453,900
Standby letters of credit		49,287		47,169
Commercial letters of credit		39,261		54,547
Total undisbursed loan commitments	$	715,022	$	555,616

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

	As of and for the Year Ended December 31,
	2021			2020			2019
	(in thousands)
Balance at beginning of period	$	2,792		$	2,397		$	1,439
Adjustment related to adoption of ASU 2016-13		—			(335	)		—
Adjusted balance	$	2,792			2,062			1,439
Provision (recovery) for credit losses		(206	)		730			958
Balance at end of period	$	2,586		$	2,792		$	2,397