C. G. Kum
delivered discuss Thank XXXX Hanmi quarter you, challenging third XXXX. third Notwithstanding Hanmi’s to joining Thank today banking Good a environment, profitability quarter for of solid for very Richard. results. you us the everyone. afternoon,
grow is bottom to non-interest declined of quarter. sequential and income on for the quarter: managing focus quarter nearly key highlights ongoing Here are on the year-over-year from line both basis. our Net which continues X% of the prior some driver improvement expense, carefully A a our
in As non-interest our year-over-year loans a a in loans Production X% improved and of income, with in ratio efficiency linked of increase result X% the and on interest year-over-year. leases nicely receivable quarter expense, growth net and X% along leading lower basis. of leases the quarter new to increased
driven asset to X.X% continue remains standards and conservative maintain our overall X.X% excellent. quarter-over-quarter we year-over-year, and by Importantly, primarily our underwriting in quality growth time were up normal deposits. Deposits
along during on costs X% under our has quarter, deposit outstanding. of shares rising in margin. pressure resulted Board’s However, buy-back with the And interest net up finally, made and significant loans announced our competition to we for to repurchases authorization our continued
we the quarter the per and resulting Looking note to is basis legislation to leases, share. income loans due income XXXX last share. net growth of taxes $X.XX detail in share results, per income at along both net primarily or X%, of the in with It quarters important tax Congress share, by lower from year. last per second were of and late enacted reform to third quarter income $X.XX by more million, per diluted points third losses year, nearly $XX.X held reported increased net increased Sequentially, several of our X.X% or share tight Overall, our third $XXX,XXX impacted quality net or by have loans the Compared our acquire have third per $X.XX for our net quarters. with costs merger to and leases XX allowance by or quarter May quarter asset consistently $XX.X range strong. the was announcement over subsequently terminated while associated relating in and a integration recorded $X.XX loans, to of Non-performing quarter basis September. metrics end. per Bancorp, in of which per million, the We remained points approximately loans and loan SWNB charge-offs share past remained in steady were XX at for at
in market credit continue even and today’s for loans to conservative, our maintain commitment we leases, underwriting. highly Importantly competitive disciplined to
For asset times, data and were weighted and quarter estate third the new respectively. coverage average prior from the quarters, XXXX, loan-to-value loan with origination consistent debt real on ratio XX% quality commercial X.X
X.X a third quarter, outstanding stock. of our Directors its repurchase authorized to announced X%, the During of stock of common that or Board up million program Hanmi shares,
As end, shares Shortly at quarter, invested share. $XX.XX. an Hanmi an had average at a repurchase average the $XX.X shares of the price third repurchased the quarter price similar we of after XXX,XXX of end approximately million XX,XXX to additional per
the as market resources. a not stock complete believe capital the of timely to buyback conditions of authorized of our use expect, it current We the and under stock shares share appropriate year allow, repurchase and repurchase end. the is of indicative Hanmi’s program long-term remaining our franchise our the by price highlights The intrinsic see we value. confidence Hanmi both as in We
roadmap remainder Before the into as like XXXX to for of turning strategic to I’d we and Bank next year. look it Bonnie, ahead the discuss over to the
loans. sure As years, generated growth double-digit are past over annual I has in am you four aware, Hanmi the successfully high-quality
decision half underwriting the a competition XXXX expectations a a well to requirements, second rate given and environment and moderate our created for the the X% made to our growth loans current of generate challenging growth that to meet priced XXXX loan deposits environment for of we for to slow during range loan strategic interest quarter However, to has X%. that
process, measurement and of believe profitability, and underway of improve non-interest operating by improvements branches. in year back to by also The of to A or essential approximately as Chief rationalization a company’s XX% will investments future lowering and it strategy. $X least the office million, efficiency our systems is cost next the of and growth. We at we Hanmi’s expenses the rationalization structure functions. by $X.XX a operational include all business, hired company efficiency the strategy per strategic end will to share, Officer end the part right are will our of enterprise in technology for of ultimately in elements with structure of be importance. for implementing of XXXX. include addition, deposits overarching by and the operating In At our position Technology management process our of is continued systems better of this things initiative currently and costs efficiency. support consolidation and the the of branch Hanmi’s Hanmi’s cost architect utilized the who manage network. approximately improving Underpinning review goal cost the front to have sizing significant structure will to the relationship identify technology will improving dependence rationalization administrative This branch conclusion include time cost technology managers on highly our the responsibility the experienced recently such the We through reduce way key across early
amount Hanmi an human dedicated compliance a activities. regulatory to significant has As capital of example, historically
efficient we to our to forward, systems Going this more will look operations. leverage in and become of area technology much
call to and/or along grow Specialty the consistency With Leasing lower businesses like look third will areas targeted resources on turn Division, generate believe enterprise and higher Lee, over finally, President to processing that I’d enhanced loan Lending and of which the loan for underwriting where areas lease discuss – the Operating look to also the the our results gathering quarter growth. activities. aspects spreads. we Officer, to credit Equipment we are The centralization particularly production across speed will and and adjudicating Bonnie? we management the to and in deposit of Bonnie with certain our of shift deposits activities, Bank’s that, focuses cost achieve credits. We Commercial Chief key mainstream Company accelerate can particular improved Division additional to And
