Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Income

v2.4.1.9
Consolidated Statements of Income (USD $)
In Thousands, except Share data, unless otherwise specified
12 Months Ended
Dec. 31, 2014
Dec. 31, 2013
Dec. 31, 2012
Interest and Dividend Income:      
Interest and fees on loans $ 122,222us-gaap_InterestAndFeeIncomeLoansAndLeases $ 108,804us-gaap_InterestAndFeeIncomeLoansAndLeases $ 106,464us-gaap_InterestAndFeeIncomeLoansAndLeases
Taxable interest on investment securities 12,502us-gaap_InterestIncomeSecuritiesTaxable 8,434us-gaap_InterestIncomeSecuritiesTaxable 8,418us-gaap_InterestIncomeSecuritiesTaxable
Tax-exempt interest on investment securities 136us-gaap_InterestIncomeSecuritiesTaxExempt 283us-gaap_InterestIncomeSecuritiesTaxExempt 394us-gaap_InterestIncomeSecuritiesTaxExempt
Interest on term federal funds sold     706hafc_InterestOnTermFederalFundsSold
Interest on federal funds sold   6us-gaap_InterestIncomeFederalFundsSold 60us-gaap_InterestIncomeFederalFundsSold
Interest on interest-bearing deposits in other banks 107us-gaap_InterestIncomeDepositsWithFinancialInstitutions 209us-gaap_InterestIncomeDepositsWithFinancialInstitutions 422us-gaap_InterestIncomeDepositsWithFinancialInstitutions
Dividends on FRB stock 698hafc_DividendsOnFederalReserveBankStock 754hafc_DividendsOnFederalReserveBankStock 609hafc_DividendsOnFederalReserveBankStock
Dividends on FHLB stock 1,069hafc_DividendsOnFederalHomeLoanBankStock 650hafc_DividendsOnFederalHomeLoanBankStock 209hafc_DividendsOnFederalHomeLoanBankStock
Total interest and dividend income 136,734us-gaap_InterestAndDividendIncomeOperating 119,140us-gaap_InterestAndDividendIncomeOperating 117,282us-gaap_InterestAndDividendIncomeOperating
Interest Expense:      
Interest on deposits 13,560us-gaap_InterestExpenseDeposits 12,678us-gaap_InterestExpenseDeposits 15,877us-gaap_InterestExpenseDeposits
Interest on FHLB advances 151us-gaap_InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm 151us-gaap_InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm 165us-gaap_InterestExpenseFederalHomeLoanBankAndFederalReserveBankAdvancesShortTerm
Interest on subordinated debentures 235us-gaap_InterestExpenseSubordinatedNotesAndDebentures 678us-gaap_InterestExpenseSubordinatedNotesAndDebentures 2,703us-gaap_InterestExpenseSubordinatedNotesAndDebentures
Interest on rescinded stock obligation 87us-gaap_InterestExpenseCapitalSecurities    
Total interest expense 14,033us-gaap_InterestExpense 13,507us-gaap_InterestExpense 18,745us-gaap_InterestExpense
Net interest income before provision for credit losses 122,701us-gaap_InterestIncomeExpenseNet 105,633us-gaap_InterestIncomeExpenseNet 98,537us-gaap_InterestIncomeExpenseNet
(Negative provision) provision for credit losses (6,140)us-gaap_ProvisionForLoanLeaseAndOtherLosses   6,000us-gaap_ProvisionForLoanLeaseAndOtherLosses
Net interest income after provision for credit losses 128,841us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss 105,633us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss 92,537us-gaap_InterestIncomeExpenseAfterProvisionForLoanLoss
Noninterest Income:      
Bargain purchase gain, net of deferred taxes 14,577us-gaap_BusinessCombinationBargainPurchaseGainRecognizedAmount    
Service charges on deposit accounts 11,374us-gaap_FeesAndCommissionsDepositorAccounts 11,307us-gaap_FeesAndCommissionsDepositorAccounts 12,146us-gaap_FeesAndCommissionsDepositorAccounts
Remittance fees 1,873hafc_RemittanceFees 2,036hafc_RemittanceFees 1,976hafc_RemittanceFees
Trade finance fees 1,220us-gaap_TradingGainsLosses 1,064us-gaap_TradingGainsLosses 1,140us-gaap_TradingGainsLosses
Other service charges and fees 1,853us-gaap_FeesAndCommissionsOther 1,375us-gaap_FeesAndCommissionsOther 1,499us-gaap_FeesAndCommissionsOther
Bank-owned life insurance income 879us-gaap_BankOwnedLifeInsuranceIncome 1,171us-gaap_BankOwnedLifeInsuranceIncome 1,110us-gaap_BankOwnedLifeInsuranceIncome
Gain on sale of SBA loans 3,494us-gaap_GainLossOnSalesOfLoansNet 8,000us-gaap_GainLossOnSalesOfLoansNet 9,923us-gaap_GainLossOnSalesOfLoansNet
Net loss on sales of other loans   (557)us-gaap_GainLossOnSaleOfOtherLoansAndLeases (9,481)us-gaap_GainLossOnSaleOfOtherLoansAndLeases
Net gain on sales of investment securities 2,011us-gaap_GainLossOnSaleOfSecuritiesNet 1,039us-gaap_GainLossOnSaleOfSecuritiesNet 1,396us-gaap_GainLossOnSaleOfSecuritiesNet
Other-than-temporary impairment loss on investment securities 0us-gaap_ImpairmentOfInvestments 0us-gaap_ImpairmentOfInvestments (292)us-gaap_ImpairmentOfInvestments
Disposition gains on PCI loans 1,432us-gaap_GainLossOnSalesOfConsumerLoans    
Other operating income 3,583us-gaap_NoninterestIncomeOtherOperatingIncome 2,465us-gaap_NoninterestIncomeOtherOperatingIncome 1,996us-gaap_NoninterestIncomeOtherOperatingIncome
Total noninterest income 42,296us-gaap_NoninterestIncome 27,900us-gaap_NoninterestIncome 21,413us-gaap_NoninterestIncome
Noninterest Expense:      
Salaries and employee benefits 50,177us-gaap_LaborAndRelatedExpense 35,129us-gaap_LaborAndRelatedExpense 33,898us-gaap_LaborAndRelatedExpense
Occupancy and equipment 12,295us-gaap_OccupancyNet 10,017us-gaap_OccupancyNet 10,177us-gaap_OccupancyNet
Merger and integration costs 6,646us-gaap_BusinessCombinationIntegrationRelatedCosts 730us-gaap_BusinessCombinationIntegrationRelatedCosts  
Unconsummated acquisition costs   1,331us-gaap_BusinessCombinationAcquisitionRelatedCosts  
Deposit insurance premiums and regulatory assessments 2,031us-gaap_FederalDepositInsuranceCorporationPremiumExpense 1,435us-gaap_FederalDepositInsuranceCorporationPremiumExpense 4,431us-gaap_FederalDepositInsuranceCorporationPremiumExpense
Data processing 6,080us-gaap_InformationTechnologyAndDataProcessing 4,582us-gaap_InformationTechnologyAndDataProcessing 4,909us-gaap_InformationTechnologyAndDataProcessing
Other real estate owned (income) expense (49)hafc_ForeclosedRealEstateIncomeExpense (59)hafc_ForeclosedRealEstateIncomeExpense 344hafc_ForeclosedRealEstateIncomeExpense
Professional fees 7,564us-gaap_ProfessionalFees 5,335us-gaap_ProfessionalFees 4,686us-gaap_ProfessionalFees
Directors and officers liability insurance 696hafc_DirectorsAndOfficersLiabilityInsurance 876hafc_DirectorsAndOfficersLiabilityInsurance 1,186hafc_DirectorsAndOfficersLiabilityInsurance
Supplies and communications 2,612us-gaap_SuppliesAndPostageExpense 2,155us-gaap_SuppliesAndPostageExpense 2,224us-gaap_SuppliesAndPostageExpense
Advertising and promotion 3,435us-gaap_MarketingAndAdvertisingExpense 3,411us-gaap_MarketingAndAdvertisingExpense 3,236us-gaap_MarketingAndAdvertisingExpense
Loan-related expense 521us-gaap_LoanProcessingFee 396us-gaap_LoanProcessingFee 527us-gaap_LoanProcessingFee
Amortization of other intangible assets 133us-gaap_AmortizationOfIntangibleAssets   34us-gaap_AmortizationOfIntangibleAssets
Other operating expenses 6,412us-gaap_OtherNoninterestExpense 5,679us-gaap_OtherNoninterestExpense 4,959us-gaap_OtherNoninterestExpense
Total noninterest expense 98,553us-gaap_NoninterestExpense 71,017us-gaap_NoninterestExpense 70,611us-gaap_NoninterestExpense
Income from continuing operations before provision for income taxes 72,584us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 62,516us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest 43,339us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
Provision (benefit) for income taxes 22,379us-gaap_IncomeTaxExpenseBenefit 22,732us-gaap_IncomeTaxExpenseBenefit (46,818)us-gaap_IncomeTaxExpenseBenefit
Income from continuing operations, net of taxes 50,205us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 39,784us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 90,157us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Discontinued operations:      
Income from operations of discontinued subsidiaries (including gain on disposal of $51 in the second quarter of 2014) 37us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax 115us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax 287us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationBeforeIncomeTax
Income tax expense 481us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation 42us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation 120us-gaap_DiscontinuedOperationTaxEffectOfDiscontinuedOperation
(Loss) income from discontinued operations (444)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 73us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 167us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Net income $ 49,761us-gaap_NetIncomeLoss $ 39,857us-gaap_NetIncomeLoss $ 90,324us-gaap_NetIncomeLoss
Basic earnings per share:      
Income from continuing operations, net of taxes $ 1.58us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 1.26us-gaap_IncomeLossFromContinuingOperationsPerBasicShare $ 2.86us-gaap_IncomeLossFromContinuingOperationsPerBasicShare
(Loss) income from discontinued operations, net of taxes $ (0.01)us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare   $ 0.01us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare
Basic earnings per share $ 1.57us-gaap_EarningsPerShareBasic $ 1.26us-gaap_EarningsPerShareBasic $ 2.87us-gaap_EarningsPerShareBasic
Diluted earnings per share:      
Income from continuing operations, net of taxes $ 1.57us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 1.26us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare $ 2.86us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare
(Loss) income from discontinued operations, net of taxes $ (0.01)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare   $ 0.01us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare
Diluted earnings per share $ 1.56us-gaap_EarningsPerShareDiluted $ 1.26us-gaap_EarningsPerShareDiluted $ 2.87us-gaap_EarningsPerShareDiluted
Weighted-average shares outstanding:      
Basic 31,696,100us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 31,598,913us-gaap_WeightedAverageNumberOfSharesOutstandingBasic 31,475,510us-gaap_WeightedAverageNumberOfSharesOutstandingBasic
Diluted 31,978,064us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 31,696,520us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding 31,515,582us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding