Hanmi Financial Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Investment Securities (Tables)

Investment Securities (Tables)

6 Months Ended

Jun. 30, 2013

Investments Debt And Equity Securities [Abstract]

Summary of Investment Securities Available for Sale

The following is a summary of investment securities available-for-sale:


	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Estimated Fair Value
	(In thousands)
June 30, 2013:
Mortgage-backed securities ⁽¹⁾	$	125,177	$	1,312	$	1,871	$	124,618
Collateralized mortgage obligations ⁽¹⁾		83,955		1,414		521		84,848
U.S. government agency securities		98,853		18		1,267		97,604
Municipal bonds-tax exempt		10,166		485		—		10,651
Municipal bonds-taxable		44,053		1,679		186		45,546
Corporate bonds		20,475		176		276		20,375
SBA loan pool securities		13,842		—		341		13,501
Other securities		3,025		1		93		2,933
Equity securities		354		385		—		739

Total securities available-for-sale	$	399,900	$	5,470	$	4,555	$	400,815

December 31, 2012:
Mortgage-backed securities ⁽¹⁾	$	157,185	$	3,327	$	186	$	160,326
Collateralized mortgage obligations ⁽¹⁾		98,821		1,775		109		100,487
U.S. government agency securities		92,990		222		94		93,118
Municipal bonds-tax exempt		12,209		603		—		12,812
Municipal bonds-taxable		44,248		2,029		135		46,142
Corporate bonds		20,470		176		246		20,400
SBA loan pool securities		14,104		4		82		14,026
Other securities		3,331		73		47		3,357
Equity securities		354		78		40		392

Total securities available-for-sale	$	443,712	$	8,287	$	939	$	451,060

(1)

Collateralized by residential mortgages and guaranteed by U.S. government sponsored entities

Schedule of Investment Securities


	Available-for-Sale
	Amortized		Estimated
	Cost		Fair Value
	(In thousands)
Within one year	$	—	$	—
Over one year through five years		29,404		29,406
Over five years through ten years		111,880		111,811
Over ten years		49,130		49,393
Mortgage-backed securities		125,177		124,618
Collateralized mortgage obligations		83,955		84,848
Equity securities		354		739

Total	$	399,900	$	400,815

Continuous Unrealized Loss Position

Gross unrealized losses on investment securities available-for-sale, the estimated fair value of the related securities and the number of securities aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, were as follows as of June 30, 2013 and December 31, 2012:


	Holding Period
	Less Than 12 Months						12 Months or More						Total
	Gross		Estimated		Number		Gross		Estimated		Number		Gross		Estimated		Number
	Unrealized		Fair		of		Unrealized		Fair		of		Unrealized		Fair		of
	Loss		Value		Securities		Loss		Value		Securities		Loss		Value		Securities
	(In thousands, except number of securities)
June 30, 2013:
Mortgage-backed securities	$	1,871	$	79,024		26	$	—	$	—		—	$	1,871	$	79,024		26
Collateralized mortgage obligations		521		25,134		10		—		—		—		521		25,134		10
U.S. government agency securities		1,267		89,068		31		—		—		—		1,267		89,068		31
Municipal bonds-taxable		183		7,485		6		3		444		1		186		7,929		7
Corporate bonds		108		4,880		1		168		10,819		3		276		15,699		4
SBA loan pool securities		341		13,501		4		—		—		—		341		13,501		4
Other securities		10		2,016		4		83		918		1		93		2,934		5

Total	$	4,301	$	221,108		82	$	254	$	12,181		5	$	4,555	$	233,289		87

December 31, 2012:
Mortgage-backed securities	$	186	$	28,354		10	$	—	$	—		—	$	186	$	28,354		10
Collateralized mortgage obligations		109		14,344		5		—		—		—		109		14,344		5
U.S. government agency securities		94		26,894		9		—		—		—		94		26,894		9
Municipal bonds-taxable		126		4,587		4		9		1,964		3		135		6,551		7
Corporate bonds		—		—		—		246		10,738		3		246		10,738		3
SBA loan pool securities		82		11,004		3		—		—		—		82		11,004		3
Other securities		1		12		1		46		953		1		47		965		2
Equity securities		40		96		1		—		—		—		40		96		1

Total	$	638	$	85,291		33	$	301	$	13,655		7	$	939	$	98,946		40

Realized Gains and Losses on Sales of Investment Securities

Realized gains and losses on sales of investment securities, proceeds from sales of investment securities and the tax expense on sales of investment securities were as follows for the periods indicated:


	Three Months Ended						Six Months Ended
	June 30,						June 30,
	2013			2012			2013			2012
	(In thousands)
Gross realized gains on sales of investment securities	$	304		$	1,431		$	313		$	1,432
Gross realized losses on sales of investment securities		(1	)		(50	)		(1	)		(50	)

Net realized gains on sales of investment securities	$	303		$	1,381		$	312		$	1,382

Proceeds from sales of investment securities	$	15,764		$	85,538		$	24,764		$	88,538
Tax expense on sales of investment securities	$	127		$	581		$	131		$	581

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References + Details