|
Accounting for Investments in Qualified Affordable Housing Projects (Tables)
|
3 Months Ended |
|
Mar. 31, 2015
|
| Accounting Changes and Error Corrections [Abstract] |
|
| Summary of Change in Accounting Principle on Balance Sheets |
Hanmi Financial Corporations and
Subsidiaries
Consolidated Balance Sheet (Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
As of March 31, 2014 |
|
| |
|
As Previously
Reported |
|
|
Effect of Change in
Accounting Principle
|
|
|
As Adjusted |
|
| |
|
(In thousands)
|
|
|
Assets
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents
|
|
$ |
204,384 |
|
|
$ |
— |
|
|
$ |
204,384 |
|
|
Securities available for sale
|
|
|
520,990 |
|
|
|
— |
|
|
|
520,990 |
|
|
Loans receivable
|
|
|
2,221,520 |
|
|
|
— |
|
|
|
2,221,520 |
|
|
Income tax assets
|
|
|
53,227 |
|
|
|
273 |
|
|
|
53,500 |
|
|
Other assets
|
|
|
96,841 |
|
|
|
(1,477 |
) |
|
|
95,364 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets
|
|
$ |
3,096,962 |
|
|
$ |
(1,204 |
) |
|
$ |
3,095,758 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities and stockholders’ equity
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Liabilities
|
|
$ |
2,682,247 |
|
|
$ |
— |
|
|
$ |
2,682,247 |
|
|
Stockholders’ equity
|
|
|
414,715 |
|
|
|
(1,204 |
) |
|
|
413,511 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and stockholders’ equity
|
|
$ |
3,096,962 |
|
|
$ |
(1,204 |
) |
|
$ |
3,095,758 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Summary of Change in Accounting Principle on Statements of Income |
Hanmi Financial Corporations and
Subsidiaries
Consolidated Statements of Income
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
As Previously
Reported |
|
|
Effect of Change in
Accounting Principle
|
|
|
As Adjusted |
|
| |
|
(In thousands,
except per share data) |
|
|
For the Three Months Ended March 31, 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest and dividend income
|
|
$ |
30,367 |
|
|
$ |
— |
|
|
$ |
30,367 |
|
|
Interest expense
|
|
|
3,269 |
|
|
|
— |
|
|
|
3,269 |
|
|
Negative provision for credit losses
|
|
|
(3,300 |
) |
|
|
— |
|
|
|
(3,300 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
|
|
|
30,398 |
|
|
|
— |
|
|
|
30,398 |
|
|
Noninterest income
|
|
|
6,214 |
|
|
|
— |
|
|
|
6,214 |
|
|
Noninterest expense
|
|
|
17,961 |
|
|
|
(162 |
) |
|
|
17,799 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income before provision for income taxes
|
|
|
18,651 |
|
|
|
162 |
|
|
|
18,813 |
|
|
Provision for income taxes
|
|
|
7,638 |
|
|
|
206 |
|
|
|
7,844 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income from continuing operations
|
|
$ |
11,013 |
|
|
$ |
(44 |
) |
|
$ |
10,969 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per share from continuing operations
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic
|
|
$ |
0.35 |
|
|
$ |
— |
|
|
$ |
0.35 |
|
|
Diluted
|
|
$ |
0.35 |
|
|
$ |
(0.01 |
) |
|
$ |
0.34 |
|
|
| Summary of Change in Accounting Principle on Statements of Cash Flows |
Hanmi Financial Corporations and
Subsidiaries
Consolidated Statement of Cash Flows
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
As Previously
Reported |
|
|
Effect of Change in
Accounting Principle
|
|
|
As Adjusted |
|
| |
|
(In
thousands) |
|
|
For the Three Months Ended March 31, 2014
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash flows from operating activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$ |
11,035 |
|
|
$ |
(44 |
) |
|
$ |
10,991 |
|
|
Total adjustment in net income
|
|
|
12,230 |
|
|
|
44 |
|
|
|
12,274 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by operating activities
|
|
|
23,265 |
|
|
|
— |
|
|
|
23,265 |
|
|
Cash flows from investing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash provided by investing activities
|
|
|
2,418 |
|
|
|
— |
|
|
|
2,418 |
|
|
Cash flows from financing activities:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net cash used in financing activities
|
|
|
(656 |
) |
|
|
— |
|
|
|
(656 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net increase in cash and cash equivalents
|
|
|
25,027 |
|
|
|
— |
|
|
|
25,027 |
|
|
Cash and cash equivalents at beginning of period
|
|
|
179,357 |
|
|
|
— |
|
|
|
179,357 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents at end of period
|
|
$ |
204,384 |
|
|
$ |
—
|
|
|
$ |
204,384 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|