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

Annual report pursuant to Section 13 and 15(d)

Deposits

Deposits

12 Months Ended

Dec. 31, 2022

Deposits [Abstract]

Deposits

Note 8 — Deposits

Time deposits of $250,000 or more at year-end 2022 and 2021 were $697.0 million and $208.5 million, respectively.

At December 31, 2022, the scheduled maturities of time deposits were as follows:


Year Ending December 31,	Time Deposits of $250,000 or More		Other Time Deposits		Total
	(in thousands)
2023	$	696,470	$	1,185,020	$	1,881,490
2024		—		68,037		68,037
2025		266		3,151		3,417
2026		263		2,430		2,693
2027 & thereafter		—		570		570
Total	$	696,999	$	1,259,208	$	1,956,207

A summary of interest expense on deposits was as follows for the periods indicated:


	Year Ended December 31,
	2022		2021		2020
	(in thousands)
Demand: interest-bearing	$	100	$	61	$	70
Money market and savings		12,753		5,199		11,016
Time deposits of $250,000 or more		4,457		726		3,521
Other time deposits		8,628		5,669		19,387
Total interest expense on deposits	$	25,938	$	11,655	$	33,994

Accrued interest payable on deposits was $7.8 million and $1.2 million at December 31, 2022 and 2021, respectively. Total deposits reclassified to loans due to overdrafts at December 31, 2022 and 2021 were $1.2 million and $0.3 million, respectively.