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

Annual report pursuant to Section 13 and 15(d)

Other Intangible Assets

Other Intangible Assets

12 Months Ended

Dec. 31, 2012

NOTE 7 — OTHER INTANGIBLE ASSETS

Other intangible assets were as follows for the periods indicated:


			December 31, 2012							December 31, 2011
	Recorded Investment		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount		Gross Carrying Amount		Accumulated Amortization			Net Carrying Amount
			(In Thousands)
Other Intangible Assets:
Core Deposit Intangible		8 years	$	13,137	$	(13,137	)	$	—	$	13,137	$	(13,103	)	$	34
Trade Names		20 years		970		(290	)		680		970		(242	)		728
Client/Insured Relationships		10 years		770		(462	)		308		770		(385	)		385
Carrier Relationships		15 years		580		(233	)		347		580		(194	)		386

Total Other Intangible Assets			$	15,457	$	(14,122	)	$	1,335	$	15,457	$	(13,924	)	$	1,533

The weighted-average amortization period for other intangible assets is 9.0 years. The total amortization expense for other intangible assets was $198,000, $700,000 and $1.1 million during the years ended December 31, 2012, 2011 and 2010, respectively.

Estimated future amortization expense related to other intangible assets for each of the next five years is as follows:


Year Ending December 31,	Amount
	(In Thousands)
2013	$	164
2014		164
2015		164
2016		164
2017		87

Total	$	743

As of December 31, 2012 and 2011, management is not aware of any circumstances that would indicate impairment of other intangible assets. There was no impairment charges related to other intangible asset recorded through earnings in 2012 or 2011.

- Definition

The entire disclosure for all or part of the information related to intangible assets.

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