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, 2023

Deposits [Abstract]

Deposits

Note 8 — Deposits

Time deposits more than $250,000 at year-end 2023 and 2022 were $1.00 billion and $697.0 million, respectively.

At December 31, 2023, the scheduled maturities of time deposits were as follows:


Year Ending December 31,	Time Deposits More Than $250,000		Other Time Deposits		Total
	(in thousands)
2024	$	995,830	$	1,444,509	$	2,440,339
2025		3,928		6,205		10,133
2026		263		3,142		3,405
2027		—		572		572
2028 & thereafter		—		418		418
Total	$	1,000,021	$	1,454,846	$	2,454,867

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


	Year Ended December 31,
	2023		2022		2021
	(in thousands)
Demand: interest-bearing	$	117	$	100	$	61
Money market and savings		44,066		12,753		5,199
Time deposits more than $250,000		42,762		4,457		726
Other time deposits		47,763		8,628		5,669
Total interest expense on deposits	$	134,708	$	25,938	$	11,655

Accrued interest payable on deposits was $39.2 million and $7.8 million at December 31, 2023 and 2022, respectively. Total deposits reclassified to loans due to overdrafts at December 31, 2023 and 2022 were $1.6 million and $1.2 million, respectively.