| Condensed Financial Information of Parent Company |
NOTE 20 —
CONDENSED FINANCIAL INFORMATION OF PARENT COMPANY
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| Balance Sheets |
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As of December 31, |
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2012 |
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2011 |
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(In Thousands) |
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ASSETS
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Cash
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$ |
24,722 |
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$ |
31,706 |
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Securities Available for
Sale
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296 |
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595 |
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Investment in Consolidated
Subsidiaries
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442,380 |
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344,129 |
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Investment in Trust Preferred
Securities
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2,475 |
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2,475 |
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Other Assets
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330 |
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— |
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TOTAL ASSET
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$ |
470,203 |
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$ |
378,905 |
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LIABILITIES AND
STOCKHOLDERS’ EQUITY
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Liabilities:
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Junior Subordinated
Debentures
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$ |
82,406 |
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$ |
82,406 |
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Other Liabilities
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9,433 |
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10,891 |
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Stockholders’ Equity
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378,364 |
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285,608 |
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TOTAL LIABILITIES AND
STOCKHOLDERS’ EQUITY
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$ |
470,203 |
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$ |
378,905 |
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| Statement of Operations |
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Year Ended December 31, |
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2012 |
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2011 |
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2010 |
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(In Thousands) |
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Equity in Earnings (Losses) of
Subsidiaries
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$ |
96,350 |
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$ |
35,654 |
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$ |
(82,705 |
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Other Expenses, Net
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(5,976 |
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(7,507 |
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(5,339 |
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Income Tax Benefit
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— |
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— |
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35 |
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NET INCOME (LOSS)
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$ |
90,374 |
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$ |
28,147 |
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$ |
(88,009 |
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| Statement of Cash Flows |
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Year Ended December 31, |
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2012 |
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2011 |
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2010 |
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(In Thousands) |
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CASH FLOWS FROM OPERATING
ACTIVITIES:
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Net Income (Loss)
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$ |
90,374 |
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$ |
28,147 |
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$ |
(88,009 |
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Adjustments to Reconcile
Net Income (Loss) to Net Cash Provided
By Operating
Activities:
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(Income) Losses from
Subsidiaries
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(96,350 |
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(35,654 |
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82,705 |
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Share-Based Compensation
Expense
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478 |
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608 |
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1,013 |
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Changes in Fair Value of Stock
Warrants
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23 |
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(717 |
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(362 |
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Other-Than-Temporary Loss on
Investment Securities
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292 |
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— |
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— |
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(Increase) Decrease in Other
Assets
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(330 |
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1,833 |
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(116 |
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(Decrease) Increase in Other
Liabilities
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(1,481 |
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2,664 |
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2,706 |
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Net Cash Used In Operating
Activities
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(6,994 |
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(3,119 |
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(2,063 |
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CASH FLOWS FROM INVESTING
ACTIVITIES:
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Payments to Hanmi Bank
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— |
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(50,000 |
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(110,000 |
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Net Cash Used In Investing
Activities
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— |
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(50,000 |
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(110,000 |
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CASH FLOWS FROM FINANCING
ACTIVITIES:
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Proceeds from Exercise of Stock
Options and Stock Warrants
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10 |
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— |
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22 |
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Net Proceeds from Issuance of Common
Stock in Offering
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— |
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77,109 |
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116,271 |
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Net Cash Provided By Financing
Activities
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10 |
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77,109 |
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116,293 |
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NET (DECREASE) INCREASE IN
CASH
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(6,984 |
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23,990 |
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4,230 |
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Cash at Beginning of Year
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31,706 |
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7,716 |
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3,486 |
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CASH AT END OF YEAR
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$ |
24,722 |
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$ |
31,706 |
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$ |
7,716 |
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