| Balance Sheets of Parent Company |
Balance Sheets
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|
Year Ended December 31, |
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|
2014 |
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|
2013 |
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| |
|
(In
thousands) |
|
| Assets |
|
|
|
|
|
|
|
|
|
Cash
|
|
$ |
18,688 |
|
|
$ |
13,657 |
|
|
Investment in consolidated subsidiaries
|
|
|
450,572 |
|
|
|
385,110 |
|
|
Other assets
|
|
|
4,247 |
|
|
|
1,928 |
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|
|
|
|
|
|
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|
Total assets
|
|
$ |
473,508 |
|
|
$ |
400,695 |
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|
| Liabilities and
Stockholders’ Equity |
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Liabilities:
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Subordinated debentures
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|
$ |
18,544 |
|
|
$ |
— |
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|
Other liabilities
|
|
|
1,577 |
|
|
|
618 |
|
|
Stockholders’ equity
|
|
|
453,387 |
|
|
|
400,077 |
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|
|
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Total liabilities and stockholders’ equity
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|
$ |
473,508 |
|
|
$ |
400,695 |
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| Statement of Income of Parent Company |
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Year Ended
December 31, |
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| |
|
2014 |
|
|
2013 |
|
|
2012 |
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| |
|
(In
thousands) |
|
|
Equity in earnings of subsidiaries
|
|
$ |
39,576 |
|
|
$ |
42,937 |
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|
$ |
96,300 |
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|
Other income (expenses), net
|
|
|
10,185 |
|
|
|
(3,080 |
) |
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|
(5,976 |
) |
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Net income
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|
$ |
49,761 |
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|
$ |
39,857 |
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|
$ |
90,324 |
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| Statement of Cash Flows of Parent Company |
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|
Year Ended
December 31, |
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| |
|
2014 |
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|
2013 |
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|
2012 |
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| |
|
(In thousands)
|
|
|
Cash Flows from Operating Activities:
|
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Net income
|
|
$ |
49,761 |
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|
$ |
39,857 |
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|
$ |
90,324 |
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|
Adjustments to reconcile net income to net cash used in operating
activities:
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(Income) losses from subsidiaries
|
|
|
(39,576 |
) |
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|
(42,937 |
) |
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|
(96,300 |
) |
|
Amortization of subordinated debentures
|
|
|
71 |
|
|
|
— |
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|
|
— |
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|
Share-based compensation expense
|
|
|
2,165 |
|
|
|
705 |
|
|
|
478 |
|
|
Changes in fair value of stock warrants
|
|
|
— |
|
|
|
82 |
|
|
|
23 |
|
|
Bargain purchase gain
|
|
|
(14,577 |
) |
|
|
— |
|
|
|
— |
|
|
Gain on sale of investment securities
|
|
|
— |
|
|
|
(218 |
) |
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|
— |
|
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Other-than-temporary loss on investment securities
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|
|
— |
|
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|
— |
|
|
|
292 |
|
|
Change in other assets
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|
(2,319 |
) |
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|
(923 |
) |
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|
(330 |
) |
|
Change in other liabilities
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|
|
15,715 |
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|
(8,897 |
) |
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|
(1,481 |
) |
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Net cash provided by (used in) operating activities
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|
11,240
|
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(12,331
|
) |
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(6,994
|
) |
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Cash Flows from Investing Activities:
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Proceeds from sale of security available for sale
|
|
|
— |
|
|
|
436 |
|
|
|
— |
|
|
Cash acquired in acquisition, net of cash consideration paid
|
|
|
116,967 |
|
|
|
— |
|
|
|
— |
|
|
Proceeds from Hanmi Bank
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|
|
76,231 |
|
|
|
86,845 |
|
|
|
— |
|
|
Payments to Hanmi Bank
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|
|
(193,179 |
) |
|
|
— |
|
|
|
— |
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Net cash provided by investing activities
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|
|
19 |
|
|
|
87,281
|
|
|
|
—
|
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Cash Flows from Financing Activities:
|
|
|
|
|
|
|
|
|
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|
Proceeds from exercise of stock options and stock warrants
|
|
|
467 |
|
|
|
830 |
|
|
|
10 |
|
|
Redemption of subordinated debentures
|
|
|
— |
|
|
|
(82,406 |
) |
|
|
— |
|
|
Cash dividend paid
|
|
|
(6,694 |
) |
|
|
(4,439 |
) |
|
|
— |
|
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|
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Net cash (used in) provided by financing activities
|
|
|
(6,227
|
) |
|
|
(86,015
|
) |
|
|
10 |
|
|
|
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Net increase (decrease) in cash
|
|
|
5,032 |
|
|
|
(11,065
|
) |
|
|
(6,984
|
) |
|
Cash at beginning of year
|
|
|
13,657 |
|
|
|
24,722 |
|
|
|
31,706 |
|
|
|
|
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|
|
|
|
|
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|
Cash at end of year
|
|
$ |
18,689
|
|
|
$ |
13,657
|
|
|
$ |
24,722
|
|
|
|
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