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

Off-Balance Sheet Commitments (Tables)

12 Months Ended

Dec. 31, 2022

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


	December 31,
	2022		2021
	(in thousands)
Commitments to extend credit	$	780,543	$	626,474
Standby letters of credit		71,829		49,287
Commercial letters of credit		19,945		39,261
Total undisbursed loan commitments	$	872,317	$	715,022

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,
	2022		2021			2020
	(in thousands)
Balance at beginning of period	$	2,586	$	2,792		$	2,397
Adjustment related to adoption of ASU 2016-13		—		—			(335	)
Adjusted balance	$	2,586		2,792			2,062
Provision (recovery) for credit losses		528		(206	)		730
Balance at end of period	$	3,114	$	2,586		$	2,792