| CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY |
NOTE 20 — CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY
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| BALANCE SHEETS |
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December 31, |
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2011 |
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2010 |
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(In Thousands) |
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ASSETS
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Cash
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$ |
31,706 |
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$ |
7,716 |
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Securities Available for Sale
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595 |
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774 |
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Investment in Consolidated Subsidiaries
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344,129 |
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251,808 |
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Investment in Trust Preferred Securities
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2,475 |
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2,475 |
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Other Assets
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— |
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1,654 |
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TOTAL ASSETS
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$ |
378,905 |
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$ |
264,427 |
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LIABILITIES AND STOCKHOLDERS’ EQUITY
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Liabilities:
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Junior Subordinated Debentures
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$ |
82,406 |
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$ |
82,406 |
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Other Liabilities
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10,891 |
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8,765 |
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Stockholders’ Equity
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285,608 |
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173,256 |
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TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY
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$ |
378,905 |
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$ |
264,427 |
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| STATEMENTS OF OPERATIONS |
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Year Ended December 31, |
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2011 |
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2010 |
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2009 |
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(In Thousands) |
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Equity in Earnings (Losses) of Subsidiaries
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$ |
35,654 |
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$ |
(82,705 |
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$ |
(118,340 |
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Other Expenses, Net
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(7,507 |
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(5,339 |
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(6,057 |
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Income Tax Benefit
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— |
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35 |
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2,120 |
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NET INCOME (LOSS)
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$ |
28,147 |
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$ |
(88,009 |
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$ |
(122,277 |
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| STATEMENTS OF CASH FLOWS |
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Year Ended December 31, |
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2011 |
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2010 |
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2009 |
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(In Thousands) |
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CASH FLOWS FROM OPERATING ACTIVITIES:
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Net Income (Loss)
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$ |
28,147 |
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$ |
(88,009 |
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$ |
(122,277 |
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Adjustments to Reconcile Net Income (Loss) to Net Cash (Used In) Provided By Operating Activities:
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(Income) Losses from Subsidiaries
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(35,654 |
) |
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82,705 |
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118,340 |
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Share-Based Compensation Expense
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608 |
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1,013 |
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|
906 |
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Changes in Fair Value of Stock Warrants
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(717 |
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(362 |
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— |
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(Increase) Decrease in Other Assets
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1,833 |
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(116 |
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200 |
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Increase in Other Liabilities
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2,664 |
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2,706 |
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3,311 |
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Net Cash (Used In) Provided By Operating Activities
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(3,119 |
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(2,063 |
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480 |
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CASH FLOWS FROM INVESTING ACTIVITIES:
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Payments to Hanmi Bank
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(50,000 |
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(110,000 |
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(6,000 |
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Net Cash Used In Investing Activities
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(50,000 |
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(110,000 |
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(6,000 |
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CASH FLOWS FROM FINANCING ACTIVITIES:
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Proceeds from Exercise of Stock Options and Stock Warrants
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— |
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22 |
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— |
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Net Proceeds from Issuance of Common Stock in Offering
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77,109 |
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116,271 |
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6,839 |
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Net Cash Provided By Financing Activities
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77,109 |
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116,293 |
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6,839 |
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NET INCREASE IN CASH
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23,990 |
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4,230 |
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1,319 |
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Cash at Beginning of Year
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7,716 |
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3,486 |
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2,167 |
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CASH AT END OF YEAR
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$ |
31,706 |
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$ |
7,716 |
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$ |
3,486 |
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