Hanmi Financial (HAFC) 8-K Hanmi Financial Corporation Reports Second Quarter 2010 Financial Results

Exhibit 99.1

Hanmi Financial Corporation Reports
Second Quarter 2010 Financial Results

LOS ANGELES — July 27, 2010 — Hanmi Financial Corporation (NASDAQ: HAFC), the holding company for Hanmi Bank, today reported a second quarter net loss of $29.3 million, or $0.57 per share, primarily driven by a $37.5 million credit loss provision, compared to a net loss of $9.5 million, or $0.21 per share, in the second quarter a year ago when it took a $23.9 million credit loss provision. A decline in the provision for credit losses and strong liquidity were two positive trends in the second quarter.

“We are pleased with the progress we made in the second quarter of 2010 reducing the size of our problem assets while maintaining strong liquidity.” stated Jay S. Yoo, President and Chief Executive Officer. “We believe these efforts combined with our recently concluded successful capital raise will help stabilize Hanmi Bank’s capital position and allow us to successfully compete in our market areas over the long term,” continued Mr. Yoo.

Second Quarter 2010 Highlights

• Continuing successful deleveraging of the balance sheet resulted in assets declining 25% to $2.91 billion, with gross loans down 21%, and securities down 11% compared to a year ago.

• Net interest margin (NIM) expanded 107 basis points to 3.56% in the second quarter and 113 basis points to 3.62% for the first six months of 2010 compared to 2.49% for the second quarter and the first half of 2009. The NIM expansion reflects a reduction in the cost of funds of 11 basis point drop in the quarter and 143 basis points in the first six months of 2010, respectively, compared to the same periods of 2009.

• The allowance for loan losses decreased to $176.7 million, or 7.05% of total gross loans, at June 30, 2010, compared to $177.8 million, or 6.63% of total gross loans, at March 31, 2010. The allowance for loan losses increased 68% to $176.7 million, or 7.05% of total gross loans compared to $105.3 million, or 3.33% of total gross loans a year ago.

• Nonperforming loans declined $20.1 million to $242.1 million, or 9.67% of total gross loans from the first quarter’s $262.2 million. Total loans delinquent on accrual status for 30 to 89 days fell to $21.7 million, at June 30, 2010, compared to $68.6 million, at March 31, 2010.

• Federal Home Loan Bank advances and brokered deposits were down to $153.8 million and $0, respectively, at June 30, 2010 as compared with $211 million and $475 million, a year ago.

• Non —time deposits increased by 7% from $1.06 billion to $1.14 billion, accounting for 44% of total deposits, compared to 32% of total deposits a year ago, reflecting the continued strong support of the local community.

Successful Capital Raise

As previously announced, following the end of the second quarter, Hanmi successfully raised $120 million of confirmed funding through a registered rights and best efforts offering of common stock, and most of the net proceeds from the offerings will be down-streamed to the Bank. A final notice will be issued to the market shortly to verify the closing of the offering for the full $120 million amount. “We are very pleased with the success of these offerings and grateful for the support shown by our stockholders. We are also pleased with the confidence shown by the investment community in Hanmi’s future,” Mr. Yoo stated.

“Our long-term shareholders subscribed to the recently completed rights offering for a total of $47.3 million, and we raised another $72.7 million in the registered direct offering immediately thereafter. We will contribute at least $100 million of the net proceeds to Hanmi Bank by July 31, 2010 to satisfy a key requirement of its regulatory order with the California DFI” Mr. Yoo added.

In addition, as previously announced, on May 25, 2010 Hanmi entered into a securities purchase agreement with Woori Finance Holdings. Under this agreement, Woori has agreed to purchase a minimum of $210 million of Hanmi common stock at a purchase price of $1.20 per share. Woori also has the option to purchase up to an additional $30 million of Hanmi common stock at the same $1.20 purchase price per share. If consummated, Hanmi intends to contribute a significant portion of the net proceeds from the sale to Woori as additional capital to support Hanmi Bank. The Company

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expects to use the remaining net proceeds for general working capital purposes. The securities purchase agreement with Woori is contingent upon the satisfaction of certain closing including, but not limited to regulatory approval.

Asset Quality

The Bank continued to focus its efforts to reduce risk in its asset portfolio, especially through note sales. During the second quarter of 2010, the Bank sold at competitive discount rates a total of $82.1 million in problem assets.

At June 30, 2010, the allowance for loan losses decreased slightly to $176.7 million from $177.8 million and $105.3 million at March 31, 2010 and June 30, 2009, respectively. However, the allowance to gross loans ratio increased to 7.05% from 6.63% and 3.33% during March 31, 2010 and June 30, 2009, respectively. Allowance to non-performing loans ratio increased to 72.96% from 67.81% and 62.92% during March 31, 2010 and June 30, 2009, respectively. Second-quarter charge-offs, net of recoveries, were $38.9 million compared to $26.4 million in the prior quarter and $23.6 million in the second quarter of 2009.

Non-performing loans (NPLs) of $242.1 million declined by $20.1 million, or 7.7% at June 30, 2010, compared to $262.2 million, at March 31, 2010, and increased by $74.8 million, or 44.7% compared to $167.3 million at June 30, 2009. Of the total non-performing loans of $242.1 million, $57.8 million, or 23.9%, were current on payments. Management believes these non-performing loans are adequately supported by underlying collateral. 32.3% of NPLs required an impairment reserve totaling $22.4 million.

The following table shows non-performing loans by loan category:

Total Non-Performing Loans

			% of Total					% of Total					% of Total
(’000)	6/30/2010		NPL			3/31/2010		NPL			6/30/2009		NPL
Real Estate Loans:
Commercial Property		42,877		17.7	%		52,273		19.9	%		25,919		15.5	%
Construction		9,823		4.1	%		6,786		2.6	%		16,542		9.9	%
Land Loans		35,806		14.8	%		46,388		17.7	%		7,235		4.3	%
Residential Property		2,836		1.2	%		3,241		1.2	%		2,209		1.3	%
Commercial & Industrial Loans:
Owner Occupied Property		113,976		47.1	%		115,147		43.9	%		72,006		43.0	%
Other C&I		36,521		15.1	%		38,043		14.5	%		42,862		25.6	%
Consumer Loans		293		0.1	%		353		0.1	%		523		0.3	%
TOTAL NPL		242,132		100.0	%		262,231		100.0	%		167,296		100.0	%

Other real estate owned (OREO) totaled $24.1 million at June 30, 2010, up from $22.4 million at March 31, 2010 and down from $34.0 million a year ago. “We have been aggressive in selling loans prior to foreclosure,” said Yoo. Total non-performing assets were $266.2 million, or 9.13% of total assets at June 30, 2010, compared to $284.6 million, or 9.43% of total assets at March 31, 2010, and $201.3 million, or 5.20% of total assets at June 30, 2009.

Our proactive approach to the problematic credits reduced our delinquent loans on accrual status to $21.7 million, or 0.87% of gross loans, at June 30, 2010, from $68.6 million, or 2.56% of gross loans, at March 31, 2010. At June 30, 2009, the comparable numbers were $47.7 million, or 1.51% of gross loans.

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The following table shows delinquent loans on accrual status by loan category:

Past due and accruing loans (30 ~89 days)

			% of Total					% of Total					% of Total
(’000)	6/30/2010		30~89 PD			3/31/2010		30~89 PD			6/30/2009		30~89 PD
Real Estate Loans:
Commercial Property		3,020		13.9	%		15,155		22.1	%		10,138		21.2	%
Construction		—		0.0	%		—		0.0	%		—		0.0	%
Land Loans		—		0.0	%		2,300		3.4	%		5,892		12.3	%
Residential Property		1,858		8.6	%		381		0.6	%		125		0.3	%
Commercial & Industrial Loans:
Owner Occupied Property		9,964		45.9	%		37,348		54.4	%		14,784		31.0	%
Other C&I		6,559		30.2	%		13,119		19.1	%		16,267		34.1	%
Consumer Loans		300		1.4	%		337		0.5	%		533		1.1	%
TOTAL Past Due (accruing)		21,701		100.0	%		68,640		100.0	%		47,739		100.0	%

Balance Sheet

Reflecting the Bank’s ongoing program to deleverage its balance sheet, total assets decreased to $2.92 billion, at June 30, 2010, a 3% decline from $3.02 billion at March 30, 2010, and a 25% decline from $3.87 billion at June 30, 2009. Gross loans, net of deferred loan fees, were $2.50 billion as of June 30, 2010, down 7% from $2.68 billion at March 31, 2010, and down 21% from $3.16 billion at June 30, 2009. Total deposits decreased 22% year-over-year and declined 3% from the quarter ended March 31, 2010. Total deposits were $2.58 billion at June 30, 2010, compared to $2.65 billion at March 31, 2010, and $3.29 billion at June 30, 2009. Noninterest-bearing deposits increased 5% to $574.8 million at the end of the second quarter from $547.7 million a year ago.

“We were able to build our core deposits and reduce our reliance on higher-cost certificates of deposits during the second quarter of 2010” stated Brian Cho, Hanmi Bank’s Chief Financial Officer. “We have been reducing our reliance on wholesale funding, reflecting a decrease in brokered deposits from a year ago. FHLB advances are down 27% from a year ago to $153.8 million. We no longer hold any brokered CDs with the maturation of $63 million of brokered CDs in the second quarter.”

“Our diversified funding sources, including core deposits, which continue to increase, sale of long-term assets such as non-performing loans, and our contingent borrowing lines with the Federal Home Loan Bank and Federal Reserve Bank have provided strong liquidity for the bank,” said Cho.

Results of Operations

Net interest income before provision for credit losses totaled $26.3 million, a 4% decrease from $27.3 million in the preceding quarter and a 14% increase from the $23.1 million in second quarter a year ago. The quarterly decline reflects the increase in cash and cash equivalent balances quarter-over-quarter, which have been accumulated to manage the liquidity situation in an uncertain economic environment. The year over year increase reflects the lower cost of funds associated with replacing high-cost time deposits with low-cost core deposits. For the first six months of 2010, net interest income before provision for credit losses totaled $53.6 million compared to $46.3 million in the first six moths of 2009.

The average yield on the loan portfolio was 5.30% in the second quarter of 2010, an 8 basis point decrease from the prior quarter, primarily due to higher interest income reversals on the newly added nonaccrual loans. For the first half of 2010, the interest income reversal due to the addition to NPA was $2.5 million ($1.6 million in the second quarter and $0.9 million in the first quarter), resulting in the negative impact on NIM by 17 basis points. The cost of average interest-bearing deposits in the second quarter was 1.72%, down 15 basis points from the first quarter of 2010. Hanmi’s net interest margin improved 107 basis points to 3.56% up from 2.49% in the second quarter a year ago. The net interest margin in the preceding quarter was 3.69%. For the first six months of 2010 the net interest margin was 3.62% up from 2.49% in the first six months of 2009.

The provision for credit losses in the second quarter of 2010 was $37.5 million, compared to $58.0 million in the prior quarter and $23.9 million in the second quarter a year ago. For the first half of 2010, the provision for credit losses totaled $95.5 million up from $69.9 million in the first half of 2009. The increases in the provision for credit losses as compared to

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the year ago period are attributable to increases in net charge-offs, non-performing loans and criticized and classified loans, reflecting the deterioration of CRE market.

Total non-interest income in the second quarter of 2010 was $6.7 million compared to $7.0 million in the first quarter of 2010 and $7.6 million in the second quarter of 2009. Non interest income in the first six months of 2010 totaled $13.7 million compared to $16.1 million the first six months of 2009, due primarily to a decrease in service charges on deposit accounts, resulted from the slowed business activities of our customer in the worsening economy. For the first half of 2010, service charges on deposit accounts decreased to $7.3 million, compared to $8.8 million in the same period of 2009.

In addition, as a result of our effort to improve our cash position, we sold a substantial portion of investment securities in 2009 and recognized a significant gain on such sales activities in the first half of 2009, $1.1 million more than the current year’s gain.

Total non-interest expense in the second quarter of 2010 was $24.8 million, down from $26.2 million in the first quarter of 2010 and $25.6 million in the second quarter a year ago. Year-to-date non interest expense increased by $7.0 million to $51.0 million, up 16% from $44.0 million in the first six months of 2009, primarily due to a $5.5 million increase in OREO valuation allowance and a $880,000 increase in FDIC assessment.

“Reduced levels of expenditures for OREO management and credit collections expenses were the primary drivers of lower non-interest expense in the second quarter compared to the preceding quarter,” Cho noted. In the second quarter of 2010, OREO expense dropped to $1.7 million from $5.7 million in the first quarter and is more comparable to the $1.5 million in the second quarter a year ago.

Conference Call Information

Management will host a conference today at 1:30 p.m. PDT (4.30 p.m. EDT) to discuss these financial results. This call will also be broadcast live via the internet. Investment professionals and all current and prospective shareholders are invited to access the live call by dialing (617) 614-6206 at 1:00 p.m. (PDT), using access code HANMI. To listen to the call online, either live or archived, visit the Investor Relations page of Hanmi Financial Corporation website at www.hanmi.com. Shortly after the call concludes, the replay will also be available at (617) 801-6888, using access code #62288548 where it will be archived until August 14, 2010.

About Hanmi Financial Corporation

Headquartered in Los Angeles, Hanmi Bank, a wholly-owned subsidiary of Hanmi Financial Corporation, provides services to the multi-ethnic communities of California, with 27 full-service offices in Los Angeles, Orange, San Bernardino, San Francisco, Santa Clara and San Diego counties, and a loan production office in Washington State. Hanmi Bank specializes in commercial, SBA and trade finance lending, and is a recognized community leader. Hanmi Bank’s mission is to provide a full range of quality products and premier services to its customers and to maximize shareholder value. Additional information is available atwww.hanmi.com.

Forward-Looking Statements

This press release contains forward-looking statements, which are included in accordance with the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “potential,” or “continue,” or the negative of such terms and other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to differ from those expressed or implied by the forward-looking statement. These factors include the following: inability to consummate the proposed transaction (the “Transaction”) with Woori Finance Holdings Co. Ltd. (“Woori”) on the terms contemplated in the Securities Purchase Agreement entered into with Woori on May 25, 2010; failure to receive regulatory or stockholder approval for the Transaction; inability to continue as a going concern; inability to raise additional capital on acceptable terms or at all; failure to maintain adequate levels of capital and liquidity to support our operations; the effect of regulatory orders we have entered into and potential future supervisory action against us or Hanmi Bank; general economic and business conditions internationally, nationally and in those areas in which we operate; volatility and deterioration in the

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credit and equity markets; changes in consumer spending, borrowing and savings habits; availability of capital from private and government sources; demographic changes; competition for loans and deposits and failure to attract or retain loans and deposits; fluctuations in interest rates and a decline in the level of our interest rate spread; risks of natural disasters related to our real estate portfolio; risks associated with Small Business Administration loans; failure to attract or retain key employees; changes in governmental regulation, including, but not limited to, any increase in FDIC insurance premiums; ability to receive regulatory approval for Hanmi Bank to declare dividends to the Company; adequacy of our allowance for loan losses, credit quality and the effect of credit quality on our provision for credit losses and allowance for loan losses; changes in the financial performance and/or condition of our borrowers and the ability of our borrowers to perform under the terms of their loans and other terms of credit agreements; our ability to successfully integrate acquisitions we may make; our ability to control expenses; and changes in securities markets. In addition, we set forth certain risks in our reports filed with the U.S. Securities and Exchange Commission (“SEC”), including attached as an Exhibit to a Current Report on Form 8-K filed with the SEC on June 18, 2010, and current and periodic reports filed with the U.S. Securities and Exchange Commission hereafter, which could cause actual results to differ from those projected. We undertake no obligation to update such forward-looking statements except as required by law.

Additional Information

A proxy statement relating to certain of the matters discussed in this news release, including a more complete summary of the terms and conditions of the securities purchase agreement with Woori, was filed with the SEC on June 16, 2010. Hanmi is seeking approval of the issuance of securities to Woori at its upcoming meeting of stockholders to be held on July 28, 2010. Copies of the proxy statement and other related documents may be obtained for free from the SEC website (www.sec.gov) or by contacting Hanmi Financial Corp., Attn: Investor Relations, David J. Yang 213-637-4798. Hanmi’s shareholders are advised to read the proxy statement, because it contains important information, and Hanmi notes that the shareholder meeting on the matters discussed in the proxy statement may occur after the closing of the registered rights and best efforts offering. Hanmi, its directors, executive officers and certain members of management and employees may be considered “participants in the solicitation” of proxies from Hanmi’s shareholders in connection with certain of the matters discussed in this news release. Information regarding such persons and their interests in Hanmi is contained in Hanmi’s proxy statements and annual reports on Form 10-K filed with the SEC. Hanmi has engaged the services of D.F. King & Co., Inc. to assist in soliciting proxies. Shareholders and investors may obtain additional information regarding the interests of Hanmi, its directors and executive officers and D.F. King & Co., Inc. in the matters discussed in this news release by reading the proxy statement and other relevant documents regarding the matters discussed in this news release.

Cautionary Statements

The issuance of the securities to Woori described in this news release have not been and will not be registered under the Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of the securities in any jurisdiction or state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction or state.

Contact

Hanmi Financial Corporation

BRIAN E. CHO	DAVID YANG
Chief Financial Officer	Investor Relations and Corporate Planning
(213) 368-3200	(213) 637-4798

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HANMI FINANCIAL CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS(UNAUDITED)
(Dollars in Thousands)

	June 30,			March 31,			December 31,			June 30,			%
	2010			2010			2009			2009			Change
ASSETS
Cash and Due from Banks	$	60,034		$	59,677		$	55,263		$	63,733			(5.8	)%
Interest-Bearing Deposits in Other Banks		170,711			139,540			98,847			323,297			(47.2	)%
Federal Funds Sold		20,000			—			—			—			—
Cash and Cash Equivalents		250,745			199,217			154,110			387,030			(35.2	)%
Investment Securities		191,094			114,231			133,289			214,619			(11.0	)%
Loans:
Gross Loans, Net of Deferred Loan Fees		2,503,426			2,682,890			2,819,060			3,157,947			(20.7	)%
Allowance for Loan Losses		(176,667	)		(177,820	)		(144,996	)		(105,268	)		67.8	%
Loans Receivable, Net		2,326,759			2,505,070			2,674,064			3,052,679			(23.8	)%
Due from Customers on Acceptances		1,072			1,914			994			1,916			(44.1	)%
Premises and Equipment, Net		17,917			18,236			18,657			19,833			(9.7	)%
Accrued Interest Receivable		7,802			9,026			9,492			12,118			(35.6	)%
Other Real Estate Owned, Net		24,064			22,399			26,306			34,018			(29.3	)%
Deferred Income Taxes, Net		—			—			3,608			28,504			(100.0	)%
Servicing Assets		3,356			3,590			3,842			3,444			(2.6	)%
Other Intangible Assets, Net		2,754			3,055			3,382			4,115			(33.1	)%
Investment in Federal Home Loan Bank Stock, at Cost		29,556			30,697			30,697			30,697			(3.7	)%
Investment in Federal Reserve Bank Stock, at Cost		6,783			7,878			7,878			10,053			(32.5	)%
Bank-Owned Life Insurance		26,874			26,639			26,408			25,937			3.6	%
Income Taxes Receivable		9,697			59,680			56,554			30,499			(68.2	)%
Other Assets		16,477			16,669			13,425			15,389			7.1	%
TOTAL ASSETS	$	2,914,950		$	3,018,301		$	3,162,706		$	3,870,851			(24.7	)%
LIABILITIES AND STOCKHOLDERS’ EQUITY
Liabilities:
Deposits:
Noninterest-Bearing	$	574,843		$	575,015		$	556,306		$	547,737			4.9	%
Interest-Bearing		2,000,271			2,075,265			2,193,021			2,740,186			(27.0	)%
Total Deposits		2,575,114			2,650,280			2,749,327			3,287,923			(21.7	)%
Accrued Interest Payable		14,024			13,146			12,606			31,859			(56.0	)%
Bank Acceptances Outstanding		1,072			1,914			994			1,916			(44.1	)%
Federal Home Loan Bank Advances		153,816			153,898			153,978			210,952			(27.1	)%
Other Borrowings		3,062			4,428			1,747			2,532			20.9	%
Junior Subordinated Debentures		82,406			82,406			82,406			82,406			—
Accrued Expenses and Other Liabilities		12,276			11,207			11,904			14,137			(13.2	)%
Total Liabilities		2,841,770			2,917,279			3,012,962			3,631,725			(21.8	)%
Stockholders’ Equity		73,180			101,022			149,744			239,126			(69.4	)%
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	2,914,950		$	3,018,301		$	3,162,706		$	3,870,851			(24.7	)%

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HANMI FINANCIAL CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED)
(Dollars in Thousands, Except Per Share Data)

	Three Months Ended															Six Months Ended
	June 30,			March 31,			%			June 30,			%			June 30,			June 30,			%
	2010			2010			Change			2009			Change			2010			2009			Change
INTEREST AND DIVIDEND INCOME:
Interest and Fees on Loans	$	34,486		$	36,695			(6.0	)%	$	44,718			(22.9	)%	$	71,181		$	89,803			(20.7	)%
Taxable Interest on Investment Securities		1,359			1,084			25.4	%		1,370			(0.8	)%		2,443			2,720			(10.2	)%
Tax-Exempt Interest on Investment Securities		77			77			—			621			(87.6	)%		154			1,264			(87.8	)%
Interest on Term Federal Funds Sold		11			—			—			695			(98.4	)%		11			1,395			(99.2	)%
Dividends on Federal Reserve Bank Stock		103			104			(1.0	)%		153			(32.7	)%		207			306			(32.4	)%
Interest on Federal Funds Sold and Securities Purchased Under Resale Agreements		16			17			(5.9	)%		112			(85.7	)%		33			194			(83.0	)%
Interest on Interest-Bearing Deposits in Other Banks		99			55			80.0	%		11			800.0	%		154			13			1,084.6	%
Dividends on Federal Home Loan Bank Stock		20			21			(4.8	)%		—			—			41			—			—
Total Interest and Dividend Income		36,171			38,053			(4.9	)%		47,680			(24.1	)%		74,224			95,695			(22.4	)%
INTEREST EXPENSE:
Interest on Deposits		8,813			9,704			(9.2	)%		22,686			(61.2	)%		18,517			45,471			(59.3	)%
Interest on Federal Home Loan Bank Advances		339			346			(2.0	)%		1,010			(66.4	)%		685			2,122			(67.7	)%
Interest on Junior Subordinated Debentures		692			669			3.4	%		846			(18.2	)%		1,361			1,834			(25.8	)%
Interest on Other Borrowings		31			—			—			2			1,450.0	%		31			2			1,450.0	%
Total Interest Expense		9,875			10,719			(7.9	)%		24,544			(59.8	)%		20,594			49,429			(58.3	)%
NET INTEREST INCOME BEFORE PROVISION FOR CREDIT LOSSES		26,296			27,334			(3.8	)%		23,136			13.7	%		53,630			46,266			15.9	%
Provision for Credit Losses		37,500			57,996			(35.3	)%		23,934			56.7	%		95,496			69,887			36.6	%
NET INTEREST INCOME (LOSS) AFTER PROVISION FOR CREDIT LOSSES		(11,204	)		(30,662	)		(63.5	)%		(798	)		1,304.0	%		(41,866	)		(23,621	)		77.2	%
NON-INTEREST INCOME:
Service Charges on Deposit Accounts		3,602			3,726			(3.3	)%		4,442			(18.9	)%		7,328			8,757			(16.3	)%
Insurance Commissions		1,206			1,278			(5.6	)%		1,185			1.8	%		2,484			2,367			4.9	%
Remittance Fees		523			462			13.2	%		545			(4.0	)%		985			1,068			(7.8	)%
Trade Finance Fees		412			351			17.4	%		499			(17.4	)%		763			1,005			(24.1	)%
Other Service Charges and Fees		372			412			(9.7	)%		467			(20.3	)%		784			950			(17.5	)%
Bank-Owned Life Insurance Income		235			231			1.7	%		227			3.5	%		466			461			1.1	%
Net Gain on Sales of Loans		220			(6	)		(3,766.7	)%		—			—			214			2			10,600.0	%
Net Gain on Sales of Investment Securities		8			105			(92.4	)%		1			700.0	%		113			1,168			(90.3	)%
Other Operating Income (Loss)		98			446			(78.0	)%		214			(54.2	)%		544			280			94.3	%
Total Non-Interest Income		6,676			7,005			(4.7	)%		7,580			(11.9	)%		13,681			16,058			(14.8	)%
NON-INTEREST EXPENSE:
Salaries and Employee Benefits		9,011			8,786			2.6	%		8,508			5.9	%		17,797			16,011			11.2	%
Deposit Insurance Premiums and Regulatory Assessments		4,075			2,224			83.2	%		3,929			3.7	%		6,299			5,419			16.2	%
Occupancy and Equipment		2,674			2,725			(1.9	)%		2,788			(4.1	)%		5,399			5,672			(4.8	)%
Other Real Estate Owned Expense		1,718			5,700			(69.9	)%		1,502			14.4	%		7,418			1,645			350.9	%
Data Processing		1,487			1,499			(0.8	)%		1,547			(3.9	)%		2,986			3,083			(3.1	)%
Professional Fees		1,022			1,066			(4.1	)%		890			14.8	%		2,088			1,506			38.6	%
Supplies and Communications		574			517			11.0	%		599			(4.2	)%		1,091			1,169			(6.7	)%
Advertising and Promotion		503			535			(6.0	)%		624			(19.4	)%		1,038			1,193			(13.0	)%
Loan-Related Expense		310			307			1.0	%		1,217			(74.5	)%		617			1,398			(55.9	)%
Amortization of Other Intangible Assets		301			328			(8.2	)%		406			(25.9	)%		629			835			(24.7	)%
Other Operating Expenses		3,090			2,537			21.8	%		3,595			(14.0	)%		5,627			6,024			(6.6	)%
Total Non-Interest Expense		24,765			26,224			(5.6	)%		25,605			(3.3	)%		50,989			43,955			16.0	%
LOSS BEFORE PROVISION (BENEFIT) FOR INCOME TAXES		(29,293	)		(49,881	)		(41.3	)%		(18,823	)		55.6	%		(79,174	)		(51,518	)		53.7	%
Provision (Benefit) for Income Taxes		(36	)		(395	)		(90.9	)%		(9,288	)		(99.6	)%		(431	)		(24,787	)		(98.3	)%
NET LOSS	$	(29,257	)	$	(49,486	)		(40.9	)%	$	(9,535	)		206.8	%	$	(78,743	)	$	(26,731	)		194.6	%
LOSS PER SHARE:
Basic	$	(0.57	)	$	(0.97	)		(41.2	)%	$	(0.21	)		171.4	%	$	(1.54	)	$	(0.58	)		165.5	%
Diluted	$	(0.57	)	$	(0.97	)		(41.2	)%	$	(0.21	)		171.4	%	$	(1.54	)	$	(0.58	)		165.5	%
WEIGHTED-AVERAGE SHARES OUTSTANDING:
Basic		51,036,573			50,998,990						45,924,767						51,017,885			45,907,998
Diluted		51,036,573			50,998,990						45,924,767						51,017,885			45,907,998
SHARES OUTSTANDING AT PERIOD-END		51,198,390			51,182,390						46,130,967						51,198,390			46,130,967

7

HANMI FINANCIAL CORPORATION AND SUBSIDIARIES
SELECTED FINANCIAL DATA(UNAUDITED)
(Dollars in Thousands)

	Three Months Ended															Six Months Ended
	June 30,			March 31,			%			June 30,			%			June 30,			June 30,			%
	2010			2010			Change			2009			Change			2010			2009			Change
AVERAGE BALANCES:
Average Gross Loans, Net of Deferred Loan Fees	$	2,611,178		$	2,765,701			(5.6	)%	$	3,282,152			(20.40	)%	$	2,688,012		$	3,315,434			(18.9	)%
Average Investment Securities		158,543			125,340			26.5	%		179,129			(11.5	)%		142,034			180,698			(21.4	)%
Average Interest-Earning Assets		2,965,975			3,010,938			(1.5	)%		3,786,788			(21.70	)%		2,988,332			3,796,434			(21.3	)%
Average Total Assets		2,978,245			3,086,198			(3.5	)%		3,897,158			(23.6	)%		3,031,917			3,922,648			(22.7	)%
Average Deposits		2,617,738			2,662,960			(1.7	)%		3,223,309			(18.8	)%		2,640,224			3,212,728			(17.8	)%
Average Borrowings		240,189			257,132			(6.6	)%		386,477			(37.9	)%		248,614			413,117			(39.8	)%
Average Interest-Bearing Liabilities		2,292,121			2,360,992			(2.9	)%		3,083,774			(25.70	)%		2,326,367			3,099,465			(24.9	)%
Average Stockholders’ Equity		91,628			137,931			(33.6	)%		240,207			(61.9	)%		114,651			252,658			(54.6	)%
Average Tangible Equity		88,692			134,679			(34.1	)%		235,850			(62.4	)%		111,558			248,092			(55.0	)%
PERFORMANCE RATIOS(Annualized):
Return on Average Assets		(3.94	)%		(6.50	)%					(0.98	)%					(5.24	)%		(1.37	)%
Return on Average Stockholders’ Equity		(128.07	)%		(145.50	)%					(15.92	)%					(138.50	)%		(21.34	)%
Return on Average Tangible Equity		(132.31	)%		(149.02	)%					(16.22	)%					(142.34	)%		(21.73	)%
Efficiency Ratio		75.11	%		76.37	%					83.36	%					75.75	%		70.53	%
Net Interest Spread(1)		3.17	%		3.29	%					1.90	%					3.22	%		1.90	%
Net Interest Margin(1)		3.56	%		3.69	%					2.49	%					3.62	%		2.49	%
ALLOWANCE FOR LOAN LOSSES:
Balance at Beginning of Period	$	177,820		$	144,996			22.6	%	$	104,943			69.4	%	$	144,996		$	70,986			104.3	%
Provision Charged to Operating Expense		37,793			59,217			(36.2	)%		23,922			58.0	%		97,010			69,692			39.2	%
Charge-Offs, Net of Recoveries		(38,946	)		(26,393	)		47.6	%		(23,597	)		65.0	%		(65,339	)		(35,410	)		84.5	%
Balance at End of Period	$	176,667		$	177,820			(0.6	)%	$	105,268			67.8	%	$	176,667		$	105,268			67.8	%
Allowance for Loan Losses to Total Gross Loans		7.05	%		5.14	%					3.33	%					7.05	%		3.33	%
Allowance for Loan Losses to Total Non-Performing Loans		72.96	%		66.19	%					62.92	%					72.96	%		62.92	%
ALLOWANCE FOR OFF-BALANCE SHEET ITEMS:
Balance at Beginning of Period	$	2,655		$	3,876			(31.5	)%	$	4,279			(38.0	)%	$	3,876		$	4,096			(5.4	)%
Provision Charged to Operating Expense		(293	)		(1,221	)		(76.0	)%		12			(733.3	)%		(1,514	)		195			(876.4	)%
Balance at End of Period	$	2,362		$	2,655			(11.0	)%	$	4,291			(45.0	)%	$	2,362		$	4,291			(45.0	)%
		37,500			57,996			(35.3	)%

⁽¹⁾ Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate.

8

HANMI FINANCIAL CORPORATION AND SUBSIDIARIES
SELECTED FINANCIAL DATA(UNAUDITED) (Continued)
(Dollars in Thousands)

	June 30,			March 31,			%			December 31,			%			June 30,			%
	2010			2010			Change			2009			Change			2009			Change
NON-PERFORMING ASSETS:
Non-Accrual Loans	$	242,133		$	262,232			(7.7	)%	$	219,000			10.6	%	$	167,255			44.8	%
Loans 90 Days or More Past Due and Still Accruing		—			—			—			67			(100.0	)%		41			(100.0	)%
Total Non-Performing Loans		242,133			262,232			(7.7	)%		219,067			10.5	%		167,296			44.7	%
Other Real Estate Owned, Net		24,064			22,399			7.4	%		26,306			(8.5	)%		34,018			(29.3	)%
Total Non-Performing Assets	$	266,197		$	284,631			(6.5	)%	$	245,373			8.5	%	$	201,314			32.2	%
Total Non-Performing Loans/Total Gross Loans		9.67	%		9.77	%					7.77	%					5.30	%
Total Non-Performing Assets/Total Assets		9.13	%		9.43	%					7.76	%					5.20	%
Total Non-Performing Assets/Allowance for Loan Losses		150.7	%		160.1	%					138.0	%					191.2	%
DELINQUENT LOANS (Accrual Status)	$	21,702		$	68,640			(68.4	)%	$	41,151			(47.3	)%	$	44,771			(51.5	)%
Delinquent Loans (Accrual Status)/Total Gross Loans		0.87	%		2.56	%					1.53	%					1.42	%
LOAN PORTFOLIO:
Real Estate Loans	$	928,819		$	986,417			(5.8	)%	$	1,043,097			(11.0	)%	$	1,137,395			(18.3	)%
Commercial and Industrial Loans(2)		1,519,639			1,638,550			(7.3	)%		1,714,212			(11.4	)%		1,945,816			(21.9	)%
Consumer Loans		55,790			58,886			(5.3	)%		63,303			(11.9	)%		76,098			(26.7	)%
Total Gross Loans		2,504,248			2,683,853			(6.7	)%		2,820,612			(11.2	)%		3,159,309			(20.7	)%
Deferred Loan Fees		(822	)		(963	)		(14.6	)%		(1,552	)		(47.0	)%		(1,362	)		(39.6	)%
Gross Loans, Net of Deferred Loan Fees		2,503,426			2,682,890			(6.7	)%		2,819,060			(11.2	)%		3,157,947			(20.7	)%
Allowance for Loan Losses		(176,667	)		(177,820	)		(0.6	)%		(144,996	)		21.8	%		(105,268	)		67.8	%
Loans Receivable, Net	$	2,326,759		$	2,505,070			(7.1	)%	$	2,674,064			(13.0	)%	$	3,052,679			(23.8	)%
LOAN MIX:
Real Estate Loans		37.1	%		36.8	%					37.0	%					36.0	%
Commercial and Industrial Loans(2)		60.7	%		61.1	%					60.8	%					61.6	%
Consumer Loans		2.2	%		2.1	%					2.2	%					2.4	%
Total Gross Loans		100.0	%		100.0	%					100.0	%					100.0	%
DEPOSIT PORTFOLIO:
Demand — Noninterest-Bearing	$	574,843		$	575,015			—		$	556,306			3.3	%	$	547,737			4.9	%
Savings		127,848			121,041			5.6	%		111,172			15.0	%		88,477			44.5	%
Money Market Checking and NOW Accounts		434,533			488,366			(11.0	)%		685,858			(36.6	)%		424,760			2.3	%
Time Deposits of $100,000 or More		1,117,025			1,048,688			6.5	%		815,190			37.0	%		1,284,491			(13.0	)%
Other Time Deposits		320,865			417,170			(23.1	)%		580,801			(44.8	)%		942,458			(66.0	)%
Total Deposits	$	2,575,114		$	2,650,280			(2.8	)%	$	2,749,327			(6.3	)%	$	3,287,923			(21.7	)%
DEPOSIT MIX:
Demand — Noninterest-Bearing		22.3	%		21.7	%					20.2	%					16.7	%
Savings		5.0	%		4.6	%					4.0	%					2.7	%
Money Market Checking and NOW Accounts		16.9	%		18.4	%					24.9	%					12.9	%
Time Deposits of $100,000 or More		43.4	%		39.6	%					29.7	%					39.1	%
Other Time Deposits		12.4	%		15.7	%					21.2	%					28.6	%
Total Deposits		100.0	%		100.0	%					100.0	%					100.0	%
CAPITAL RATIOS(Bank Only):
Total Risk-Based		7.35	%		7.81	%					9.07	%					10.70	%
Tier 1 Risk-Based		6.02	%		6.49	%					7.77	%					9.42	%
Tier 1 Leverage		4.99	%		5.68	%					6.69	%					8.01	%

⁽²⁾ Commercial and industrial loans include owner-occupied property loans of $995.1 million, $1.08 billion and $1.21 billion as of June 30, 2010, March 31, 2010, and June 30, 2009, respectively.

9

HANMI FINANCIAL CORPORATION AND SUBSIDIARIES

AVERAGE BALANCES, AVERAGE YIELDS EARNED AND AVERAGE RATES PAID(UNAUDITED)

(Dollars in Thousands)

	Three Months Ended																								Six Months Ended
	June 30, 2010								March 31, 2010								June 30, 2009								June 30, 2010								June 30, 2009
				Interest		Average						Interest		Average						Interest		Average						Interest		Average						Interest		Average
	Average			Income/		Yield/			Average			Income/		Yield/			Average			Income/		Yield/			Average			Income/		Yield/			Average			Income/		Yield/
	Balance			Expense		Rate			Balance			Expense		Rate			Balance			Expense		Rate			Balance			Expense		Rate			Balance			Expense		Rate
INTEREST-EARNING ASSETS
Loans:
Real Estate Loans:
Commercial Property	$	811,063		$	10,351		5.12	%	$	836,147		$	11,374		5.52	%	$	914,802		$	13,041		5.72	%	$	823,535		$	21,725		5.32	%	$	914,717		$	25,978		5.73	%
Construction		81,067			946		4.68	%		113,115			1,394		5.00	%		178,456			1,594		3.58	%		97,003			2,340		4.86	%		179,237			3,141		3.53	%
Residential Property		69,937			932		5.35	%		74,077			783		4.29	%		86,913			1,119		5.16	%		71,996			1,715		4.80	%		88,692			2,282		5.19	%
Total Real Estate Loans		962,067			12,229		5.10	%		1,023,339			13,551		5.37	%		1,180,171			15,754		5.35	%		992,534			25,780		5.24	%		1,182,646			31,401		5.35	%
Commercial and Industrial Loans(1)		1,593,326			21,484		5.41	%		1,682,429			22,235		5.36	%		2,025,414			27,774		5.50	%		1,637,631			43,719		5.38	%		2,054,521			56,011		5.50	%
Consumer Loans		56,684			738		5.22	%		61,197			849		5.63	%		77,989			1,108		5.70	%		58,928			1,587		5.43	%		79,608			2,261		5.73	%
Total Gross Loans		2,612,077			34,451		5.29	%		2,766,965			36,635		5.37	%		3,283,574			44,636		5.45	%		2,689,093			71,086		5.33	%		3,316,775			89,673		5.45	%
Prepayment Penalty Income		—			35		—			—			60		—			—			82		—			—			95		—			—			130		—
Unearned Income on Loans, Net of Costs		(899	)		—		—			(1,264	)		—		—			(1,422	)		—		—			(1,081	)		—		—			(1,341	)		—		—
Gross Loans, Net		2,611,178			34,486		5.30	%		2,765,701			36,695		5.38	%		3,282,152			44,718		5.46	%		2,688,012			71,181		5.34	%		3,315,434			89,803		5.46	%
Investment Securities:
Municipal Bonds(2)		7,484			119		6.36	%		7,549			118		6.25	%		59,222			956		6.46	%		7,517			237		6.31	%		59,055			1,945		6.59	%
U.S. Government Agency Securities		65,894			560		3.40	%		32,120			383		4.77	%		13,177			144		4.37	%		49,100			943		3.84	%		11,387			240		4.22	%
Mortgage-Backed Securities		58,419			577		3.95	%		61,920			490		3.17	%		74,939			880		4.70	%		60,161			1,067		3.55	%		75,326			1,775		4.71	%
Collateralized Mortgage Obligations		14,287			129		3.61	%		11,382			113		3.97	%		20,713			215		4.15	%		12,842			242		3.77	%		27,136			563		4.15	%
Corporate Bonds		—			—		0.00	%		—			—		—			233			22		37.77	%		—			—		0.00	%		196			—		0.00	%
Other Securities		12,459			94		3.02	%		12,369			98		3.17	%		10,845			109		4.02	%		12,414			192		3.09	%		7,598			142		3.74	%
Total Investment Securities(2)		158,543			1,479		3.73	%		125,340			1,202		3.84	%		179,129			2,326		5.19	%		142,034			2,681		3.78	%		180,698			4,665		5.16	%
Other Interest-Earning Assets:
Equity Securities		37,979			123		1.30	%		39,369			125		1.27	%		41,532			153		1.47	%		38,671			248		1.28	%		41,629			306		1.47	%
Federal Funds Sold and Securities Purchased Under Resale Agreements		12,198			16		0.52	%		14,118			17		0.48	%		135,362			112		0.33	%		13,152			33		0.50	%		115,086			194		0.34	%
Term Federal Funds Sold		7,253			11		0.61	%		—			—		—			147,692			695		1.88	%		3,646			11		0.60	%		143,044			1,395		1.95	%
Interest-Bearing Deposits in Other Banks		138,824			99		0.29	%		66,410			55		0.33	%		921			11		4.78	%		102,817			154		0.30	%		543			13		4.79	%
Total Other Interest-Earning Assets		196,254			249		0.51	%		119,897			197		0.66	%		325,507			971		1.19	%		158,286			446		0.56	%		300,302			1,908		1.27	%
TOTAL INTEREST-EARNING ASSETS(2)	$	2,965,975		$	36,214		4.90	%	$	3,010,938		$	38,094		5.13	%	$	3,786,788		$	48,015		5.09	%	$	2,988,332		$	74,308		5.01	%	$	3,796,434		$	96,376		5.12	%
INTEREST-BEARING LIABILITIES
Interest-Bearing Deposits:
Savings	$	125,016		$	922		2.96	%	$	115,625		$	824		2.89	%	$	84,588		$	527		2.50	%	$	120,347		$	1,746		2.93	%	$	83,315		$	1,032		2.50	%
Money Market Checking and NOW Accounts		458,137			1,217		1.07	%		558,916			1,622		1.18	%		319,319			1,426		1.79	%		508,248			2,839		1.13	%		331,270			3,280		2.00	%
Time Deposits of $100,000 or More		1,090,412			5,057		1.86	%		924,055			4,677		2.05	%		1,313,683			12,108		3.70	%		1,007,693			9,734		1.95	%		1,196,816			22,430		3.78	%
Other Time Deposits		378,367			1,617		1.71	%		505,264			2,581		2.07	%		979,707			8,625		3.53	%		441,465			4,198		1.92	%		1,074,947			18,729		3.51	%
Total Interest-Bearing Deposits		2,051,932			8,813		1.72	%		2,103,860			9,704		1.87	%		2,697,297			22,686		3.37	%		2,077,753			18,517		1.80	%		2,686,348			45,471		3.41	%
Borrowings:
FHLB Advances		153,859			339		0.88	%		173,062			346		0.81	%		302,220			1,010		1.34	%		163,407			685		0.85	%		329,056			2,122		1.30	%
Other Borrowings		3,924			31		3.17	%		1,664			—		0.00	%		1,851			2		0.43	%		2,801			31		2.23	%		1,655			2		0.24	%
Junior Subordinated Debentures		82,406			692		3.37	%		82,406			669		3.29	%		82,406			846		4.12	%		82,406			1,361		3.33	%		82,406			1,834		4.49	%
Total Borrowings		240,189			1,062		1.77	%		257,132			1,015		1.60	%		386,477			1,858		1.93	%		248,614			2,077		1.68	%		413,117			3,958		1.93	%
TOTAL INTEREST-BEARING LIABILITIES	$	2,292,121		$	9,875		1.73	%	$	2,360,992		$	10,719		1.84	%	$	3,083,774		$	24,544		3.19	%	$	2,326,367		$	20,594		1.79	%	$	3,099,465		$	49,429		3.22	%
NET INTEREST INCOME(2)				$	26,339							$	27,375							$	23,471							$	53,714							$	46,947
NET INTEREST SPREAD(2)							3.17	%							3.29	%							1.90	%							3.22	%							1.90	%
NET INTEREST MARGIN(2)							3.56	%							3.69	%							2.49	%							3.62	%							2.49	%

(1)	Commercial and industrial loans include owner-occupied commercial real etate loans
(2)	Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate.

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