Hanmi Financial Corporation Quarterly report pursuant to Section 13 or 15(d)

Off-Balance Sheet Commitments (Tables)

3 Months Ended

Mar. 31, 2020

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

	March 31,		December 31,
	2020		2019
	(in thousands)
Commitments to extend credit	$	375,233	$	371,287
Standby letters of credit		32,108		31,372
Commercial letters of credit		9,642		11,133
Total undisbursed loan commitments	$	416,982	$	413,792

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

	Three Months Ended March 31,
	2020			2019
	(in thousands)
Balance at beginning of period	$	2,397		$	1,439
Adjustment related to adoption of ASU 2016-13		(335	)		—
Adjusted balance as of January 1, 2020		2,062			1,439
Provision (income) for credit losses		823			(339	)
Balance at end of period	$	2,885		$	1,100