Condensed Financial Information of Parent Company (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Condensed Financial Information Of Parent Company Only Disclosure [Abstract] |
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| Balance Sheets of Parent Company |
Balance Sheets
|
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|
Year Ended December 31,
|
|
|
|
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2019
|
|
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2018
|
|
|
|
|
(in thousands)
|
|
|
Assets
|
|
|
|
|
|
|
|
|
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Cash
|
|
$
|
17,105
|
|
|
$
|
7,450
|
|
|
Investments in consolidated subsidiaries
|
|
|
658,464
|
|
|
|
652,174
|
|
|
Other assets
|
|
|
7,511
|
|
|
|
12,196
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|
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Total assets
|
|
$
|
683,080
|
|
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$
|
671,820
|
|
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Liabilities and Stockholders' Equity
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|
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Liabilities
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|
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|
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Subordinated debentures
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|
$
|
118,377
|
|
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$
|
117,808
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|
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Other liabilities
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|
|
1,436
|
|
|
|
1,444
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|
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Total liabilities
|
|
|
119,813
|
|
|
|
119,252
|
|
|
Stockholders' equity
|
|
|
563,267
|
|
|
|
552,568
|
|
|
Total liabilities and stockholders' equity
|
|
$
|
683,080
|
|
|
$
|
671,820
|
|
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| Statement of Income of Parent Company |
Statements of Income
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|
|
Year Ended December 31,
|
|
|
|
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2019
|
|
|
2018
|
|
|
2017
|
|
|
|
|
(in thousands)
|
|
|
Dividends from bank subsidiaries
|
|
$
|
44,500
|
|
|
$
|
76,669
|
|
|
$
|
22,619
|
|
|
Interest expense
|
|
|
(7,032
|
)
|
|
|
(6,925
|
)
|
|
|
(5,353
|
)
|
|
Other expense
|
|
|
(5,333
|
)
|
|
|
(5,988
|
)
|
|
|
(5,291
|
)
|
|
Income before taxes and undistributed income of subsidiary
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|
|
32,135
|
|
|
|
63,756
|
|
|
|
11,975
|
|
|
Income tax benefit
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|
|
3,823
|
|
|
|
4,116
|
|
|
|
7,513
|
|
|
Income before undistributed income of subsidiary
|
|
|
35,958
|
|
|
|
67,872
|
|
|
|
19,488
|
|
|
Equity in undistributed income of subsidiary
|
|
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(3,170
|
)
|
|
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(10,004
|
)
|
|
|
35,172
|
|
|
Net income
|
|
$
|
32,788
|
|
|
$
|
57,868
|
|
|
$
|
54,660
|
|
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| Statement of Cash Flows of Parent Company |
Statements of Cash Flows
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Year Ended December 31,
|
|
|
|
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2019
|
|
|
2018
|
|
|
2017
|
|
|
|
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(in thousands)
|
|
|
Cash Flows from Operating Activities:
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|
|
|
|
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|
|
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Net income
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|
$
|
32,788
|
|
|
$
|
57,868
|
|
|
$
|
54,660
|
|
|
Adjustments to reconcile net income to net cash used in operating activities
|
|
|
|
|
|
|
|
|
|
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|
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Undistributed income of subsidiary
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|
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3,170
|
|
|
|
10,004
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|
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(35,172
|
)
|
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Amortization of subordinated debentures
|
|
|
569
|
|
|
|
538
|
|
|
|
463
|
|
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Share-based compensation expense
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|
|
3,125
|
|
|
|
3,515
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|
|
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2,893
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|
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Change in other assets and liabilities
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|
|
4,679
|
|
|
|
(10,463
|
)
|
|
|
5,156
|
|
|
Net cash provided by operating activities
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|
|
44,331
|
|
|
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61,462
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|
|
|
28,000
|
|
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Cash Flows from Investing Activities:
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|
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Equity contribution to Hanmi Bank
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|
|
—
|
|
|
|
—
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(90,000
|
)
|
|
Net cash provided by (used in) investing activities
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|
|
—
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|
|
|
—
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|
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(90,000
|
)
|
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Cash Flows from Financing Activities:
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|
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Proceeds from exercise of stock options
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|
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2,979
|
|
|
|
570
|
|
|
|
288
|
|
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Proceeds from insurance of long-term debt
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|
|
—
|
|
|
|
—
|
|
|
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97,828
|
|
|
Cash paid for repurchase of vested shares due to employee tax liability
|
|
|
(517
|
)
|
|
|
(680
|
)
|
|
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(1,103
|
)
|
|
Repurchase of common stock
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|
|
(7,362
|
)
|
|
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(36,068
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)
|
|
|
—
|
|
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Cash dividends paid
|
|
|
(29,776
|
)
|
|
|
(30,921
|
)
|
|
|
(25,811
|
)
|
|
Net cash provided by (used in) investing activities
|
|
|
(34,676
|
)
|
|
|
(67,099
|
)
|
|
|
71,202
|
|
|
Net increase (decrease) in cash
|
|
|
9,655
|
|
|
|
(5,637
|
)
|
|
|
9,202
|
|
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Cash at beginning of year
|
|
|
7,450
|
|
|
|
13,087
|
|
|
|
3,885
|
|
|
Cash at end of year
|
|
$
|
17,105
|
|
|
$
|
7,450
|
|
|
$
|
13,087
|
|
|