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

Annual report pursuant to Section 13 and 15(d)

Deposits

Deposits

12 Months Ended

Dec. 31, 2021

Deposits [Abstract]

Deposits

Note 8 — Deposits

Time deposits of $250,000 or more at year-end 2021 and 2020 were $208.5 million and $311.8 million, respectively.

At December 31, 2021, the scheduled maturities of time deposits are as follows:

Year Ending December 31,	Time Deposits of $250,000 or More		Other Time Deposits		Total
	(in thousands)
2022	$	206,478	$	672,821	$	879,299
2023		1,522		40,564		42,086
2024		—		60,854		60,854
2025		265		1,919		2,184
2026 & thereafter		262		2,503		2,765
Total	$	208,527	$	778,661	$	987,188

A summary of interest expense on deposits was as follows for the periods indicated:

	Year Ended December 31,
	2021		2020		2019
	(in thousands)
Demand: interest-bearing	$	61	$	70	$	116
Money market and savings		5,199		11,016		23,556
Time deposits of $250,000 or more		726		3,521		6,338
Other time deposits		5,669		19,387		33,095
Total interest expense on deposits	$	11,655	$	33,994	$	63,105

Accrued interest payable on deposits was $1.2 million and $4.6 million at December 31, 2021 and 2020, respectively. Total deposits reclassified to loans due to overdrafts at December 31, 2021 and 2020 were $277,000 and $241,000, respectively.