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

Off-Balance Sheet Commitments (Tables)

12 Months Ended

Dec. 31, 2023

The following table shows the distribution of undisbursed loan commitments as of the dates indicated:


	December 31,
	2023		2022
	(in thousands)
Commitments to extend credit	$	813,960	$	780,543
Standby letters of credit		83,725		71,829
Commercial letters of credit		33,140		19,945
Total undisbursed loan commitments	$	930,825	$	872,317

Activity in the allowance for credit losses related to off-balance sheet items was as follows for the periods indicated:


	As of and for the Year Ended December 31,
	2023			2022		2021
	(in thousands)
Balance at beginning of period	$	3,114		$	2,586	$	2,792
Provision (recovery) for credit losses		(640	)		528		(206	)
Balance at end of period	$	2,474		$	3,114	$	2,586