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

Off-Balance Sheet Commitments (Tables)

6 Months Ended

Jun. 30, 2020

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

	June 30,		December 31,
	2020		2019
	(in thousands)
Commitments to extend credit	$	486,852	$	371,287
Standby letters of credit		45,574		31,372
Commercial letters of credit		12,335		11,133
Total undisbursed loan commitments	$	544,761	$	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 June 30,				Six Months Ended June 30,
	2020		2019		2020			2019
	(in thousands)
Balance at beginning of period	$	2,885	$	1,100	$	2,397		$	1,439
Adjustment related to adoption of ASU 2016-13		—		—		(335	)		—
Adjusted balance at beginning of period		2,885		1,100		2,062			1,439
Provision expense (income) for credit losses		3,462		233		4,285			(106	)
Balance at end of period	$	6,347	$	1,333	$	6,347		$	1,333