HAFC - Earnings call transcript Q4 2018 | Hanmi Financial Corporation

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Operator

Ladies and gentlemen, welcome to the Hanmi Financial Corporation's Fourth Quarter and Full Year 2018 Conference Call.

As a reminder, today's call is being recorded for replay purposes. At this time, all participants are in a listen-only mode.

Following the presentation, the conference will be opened for questions. I would now like to turn our conference over to Mr. President Finance Vice Senior Pimentel, and Officer. Corporate Richard go ahead. Please

Richard Pimentel

discuss and full Ms. and Thank will Hanmi overview for of and Bonnie activities, are: will Lee, thank open Officer; industry company's Executive position. trends joining and Kum provide remarks, Chief expectations, deposit and Ron In our Matt, Lee Mr. and then affect comments G. statements future Financial's XXXX the loan may performance. Kum, C. operating that of us quarter President discuss will results include all questions. forward-looking more Santarosa plans, operating Mr. Officer; to events Santarosa, an our based you today's and At you, detail Chief begin Chief Officer. may earnings current financial will with me today. the call, fourth the quarter, Operating we and year the financial and on With Financial session for the we conclusion prepared on

Harbor Litigation results which XXXX. Our statements, or contained by protection expressed implied different claim speakers the those Securities of this from forward-looking the of Safe be uncertainties. in call risks our on Reform and involve Act could The provisions actual

the XX-K at found For to Financial quarter website our hanmi.com. XXXX, Form in refer and our results fourth financial afternoon, from our cause certain discussion factors of turn will Kum. XX-Q. to direct affecting some now factors Mr. particular, to outlining our be can for our business. our of issued please the recent over that I In a differ release our Hanmi risk our call news including expectations, This may which results the to on most SEC you XX-K filings, we

Chong Guk Kum

and underlying to loan net in indeed from you of quarter afternoon, the items, Thank our was protect strong Despite year XXXX discuss to growth Hanmi's evidence joining Good performance that fourth interest extraordinary Richard. inclusion moderate some shift to you, Thank noise strategic is today and full working. provides us quarter margin results. for everyone. the fourth our our

some and for year. the highlights Here are full quarter

interest net and loan impacted loss income. one-time higher over provision quarter, fourth before quarter slightly increased adjustments While a quarter income provision tax loss net loan

in the announced part As one of to of ongoing quarter we forward, quarter, efforts new the first enhance the XXXX. quarter to closures profitability of four our fourth branch opening rationalize which further network, as our two for of additional during efforts one, scheduled and the branches branch closure began included going with

our towards loan loan modest, categories. Although growth origination our reflected new in and higher-yielding shifting and discipline emphasis was lease portfolio pricing activity

As FHLB margin in and higher stabilized fees a of dividend the result, quarter. costs the effects interest excluding special spite the after prepayment quarter, and of deposit in the higher slightly net in

Hanmi was strategy our completed loans quarter, with repurchase our at ratio grow outstanding. a of with stock XX% shares leases, selectively authorization ago. the we finally, yearend of XX% to deposits by Importantly, X.X% we accounts. quality continued were primarily our deposits year, normal solid Deposits driven to over and standards quarter year in time our up asset overall With remains coupled quarter X.X loan-to-deposit during our or And and maintain over year conservative million X% our X.X% compared growth savings and shares growth and underwriting in excellent.

$X.XX million $X per and loan more net income $X.XX in a our or $XX.X income we totaling a provision, quarter which $X.X tax share. one-time results, million This diluted share. fourth reported together quarter million income adjustment at of Looking net loss detail reduced per included fourth by

excellent. approximately per quarter. Overall, metrics prior X% share quality our income net share compared items, increased remained these asset the per by to have $X.XX or Excluding

loan million. allowance $XX.X in criticized third quarter $XX.X million loans points XX $X.X the for yearend. $XX.X in provision of from sequential quarter, the XX.X% were to held also loss loans included basis steady recorded fourth of leases of at identified and loans loans. losses nonperforming our quarter years. reserved points loan or Nonperforming and $XX.X loan million of representing quarter of million, and XX.X% a improvement at of During loans The end, quarter $X XX basis loans a declined charge-off million basis at a points We or million for from XX problem prior

overall our we quarter anticipate charge-offs the first quarter million net for year quite XXXX. the activity minimal such, at in of quality the and were X the uptick is $X.X of charge-off in portfolio ended Notwithstanding quarter fourth As asset charge-offs, points. and basis strong the

market competitive our continue highly today's in even credit to loans for we and disciplined commitment underwriting. leases, to Importantly, conservative, maintain

times. is X.X national for times X.X Korean through ratio debt improvement and debt backed For average slight projected debt loan-to-value coverage and the ratio originations by quarter is loans one plan, required ratio asset respectively. X.X loan-to-value fourth with consistent conglomerate, quarters, XXXX, chain. average PIP, for commercial the due a the coverage coverage quarter from entire of booked for XX% new property portfolio data which major a prior The XX% loan by XX.X% CRE the DCR The a has the the for decline debt of during quality booked in This commercial Weighted loan-to-value and and quarter, real respectively. hospitality times, the loan coverage Bank Hanmi at weighted to a weighted ratio a this X.XX real credit or estate is of were going newly times. are large average stabilized on and property estate

Hanmi $XX.XX. average after shares repurchase of Board highlights ratio and we see fourth the common common stock was repurchase, of of confidence our tangible we fourth at X.XX%, an ratios. I of the shares our buying as authorized the Even at shares of outstanding of Hanmi's share now the believe do shares of the strong Directors resources. quarter level in an This the price price included total, of share on as at repurchases roadmap quarter we all and equity average we at franchise million repurchase for look the $XX.XX. million or X% regulatory the completing program share quarter, During provide capital I as X.X during an update bank X.X a third timely ahead repurchased by to like Hanmi to of appropriate use In strategic our this the capital Hanmi that stock completed XXXX. XXXX. remained

originating second meet our we gathering rate the interest growth As by decision margin made we articulated to underwriting loans, given call, environment protect XXXX. has fierce slowing deposits resulted well-priced earnings the of which requirements, and for our interest half on in current that loan the competition last net net for

focuses businesses, Commercial pricing along the and/or also Leasing C&I to with loans, This Lending cost key Equipment Division expectation higher for of loan grow are targeted the areas spreads. areas year for are includes moderating of deposits that including on We the Specialty greater with generate in to full X%. that a mainstream lower efforts our growth XXXX the growth to X% Bank discipline. along range bank's Division additional

lease significant XX basis are early being indications quarter, are adjusting fourth the encouraging to results yield after for and that quarter points X.XX%. for average A loan up fourth sign working. the efforts prepayment is the Our these penalty,

XX points, for newly the importantly interest average newly jumped loans interest originated the basis in XX quarter average Real weighted fourth rate and Additionally, generated the weighted Estate the basis points for Commercial during loans increased rate quarter.

slightly interest quarter sign margin net prepayment declining to elevated after quarters net the As interest of FHLB a of a after even stabilizing fourth margin, several the dividend of result, appears and adjusting Margin. Net represent Interest penalty, for special X.XX%,

safe importance costs are designed to efficiencies. XXXX. end a of by This process initiatives the actions will to guaranteed in At strategic the profitability expected a reduction a our relates the portion at over, to the and manner, loan by prudent duration franchise. rationalization guaranteed time more as executed on the on the reduce environment, to With on the retain rate loan. quarter analysis, shutdown our portion respect and of and these to we growth sale it evaluate the least the to once total, expenses X(a) foundation In share, loan on originated versus Bonnie follow In A dependence information of non-interest operational decision is the the in fourth activities. guaranteed and of our quarter $X.XX versus branch moderating reduce our basis. government by As improve SBA type is of cost SBA branch to such conjunction and profitability, approximately we initiative contemplates per with deposits be with will based network. XXXX, retention loans, loans sell of Ron $X elements during and will portion or the million,

and which the currently in we branches all process, consolidated one Illinois, quarter, the including one will two were the During four first closures At branch XX% two have have additional branches scheduled opened in in additional new rationalization network. we XXXX, and branch branch branch conclusion in quarter in of this Southern the Texas Hanmi of one We California. closed Texas. approximately branch of of

cost of improve in reduce operational ultimately areas to to in includes: through our key and costs structure systems focus efficiency. investments improvements Additional technology

to activities. in Officer, and with taking results streamline adjudicating office speed the With Operating Chief activities deposit across quarter to are I'd lease to production fourth certain the and enhanced over and like improve and gathering back Lee, Bonnie turn discuss the steps to our call along We to centralize enterprise processing that, credits. also Bonnie? consistency President loan

Bonita Lee

deposit and Santarosa on Thank over results. then turn and for loan lease you, gathering G. fourth I details C. additional discuss quarter financial will activities to our production Ron it and

X% During $XXX.X which quarter. the lease production prior over million, loan the totaled and increased organic quarter,

However, exposure for consisted shifting production Consistent family payoffs with well X.X% loans. and an portfolio loans SBA loans, reduced our loan equipment asset of the fourth to commercial loans diversify comprised just quarter annualized real amortization ago. loans. by $XX.X primarily as In quarter XX.X% we our the grew compared our with as production XX.X% CRE the C&I residential estate quarter, full and strategy, as years such $XX.X lower higher due of of XXXX activity the the of the of emphasis of portfolio, leases, the single Fourth objective our as strong portfolio million reflected higher-yielding leases to yielding lease million loans, well our at of towards to end the levels categories quality while as of and with as basis million $XX.X such with our portfolio our classes asset longer term two during C&I over line on year. X.X% and expanded elevated loans

higher times $XX Of the two in remained while equipment of originated production than also fourth throughout previous originations million quarter, commercial the quarter lease strong loan leases. consistently We the more were equipment year. C&I note, than

generated Newly quarter's a quarter of X.XX%, production loans from and yield yield on for improvement weighted weighted average average previous the new had leases X.XX%. an the of

As average quarter. adjusting for and a result, yields in fees to the portfolio above fourth improved loan for prepayment even after the X%, lease

first the G. our in supports healthy the objective ahead that XXXX, X X% quarter noted range in growth of his Looking C. of remains annual to pipeline and remarks.

and in increased continue highly operate of X.X% the for Asian basis American linked X.X% gathering billion deposits during with time Moving from $X.XX the to a quarter came on the Most fourth to of the deposit increasing ago. deposits, year money X%. landscape quarter banking a on quarter activities. from deposits, the we Total in bearing deposits market competitive and a savings and interest X.X% increasing growth

quarter a down fourth I'd XX%, was gathering year. to now deposit and the call Santarosa, Chief like our last from turn for XX% loan-to-deposit activities, Ron? As production fourth the of the in loan ratio Financial fourth Officer. quarter the quarter over Ron result to our

Romolo Santarosa

all. and Thank you, Bonnie, good afternoon

effective fourth to tax deeper the quarter. First, a bit I'd like our into for dive rate

income the million operating reported, our million. a carryforwards, to of from valuation taxes $X.X charge a temporary rate allowance for of tax income for the quarter tax year. Illinois increase from of Absent been adjustments unrecognized limitations effective rate the rate certain have lapse for year. effective $X.X included That the to adjustment change benefit a would the Federal statute provision the These to on XX.X% loss for the XX.X% $XXX,XXX XX.X% tax for and $X.X increased net the adjustments, the the tax included for quarter in differences these million XX.X% State charge and As the to of the fourth benefits. and

prepayment special Our million fees, $XXX,XXX yields for we quarter, was FHLB for included fourth quarter. the net though improved. and in dividend $XX.X $XX.X from increase and the interest the slightly the lease up income $XXX,XXX million million fourth saw third income quarter Even from as $X.X loan

fourth ended expense million. points fell borrowings, up quarter. special at was and yields lease net In prepayment Again, to quarter deposits points $X.X interest shift deposits the activity declined XX.X%. Combined three with special the third quarter expense margin points increased X.XX%, the year replaced XX sequentially. X.XX% the margin, sequentially. to as increase points contributed dividend Net fourth activity, Again, loans-to-deposits while for $XXX,XXX margin, adjusted basis deposits, we as for basis the for dividend two loan addition, five and basis borrowings saw borrowing and basis from from prepayment the the interest

million the increase the higher SBA were SBA X.X% $XX.X noninterest reflects X.X%. and saw levels to million quarter on gains lower we fourth for income charges just other trade million. at $X.X service for operating volume lower under the This lower quarter by improvement from premiums a deposit offset Turning loans. $X.X at income, fourth a of quarter, on third to and gains

For a prior increase noninterest from expenses, the to we $XX.X quarter X.X% had million.

that As this staff the severance, we other additional late additional in we quarter, retention close Later first incentive in two branch with XXXX $XXX,XXX branch reduced offices and quarter about will and compensation, fourth incurring costs. in noted, four offices lowered costs. closed come

XX.XX% to to the return average increase In continued ratio for will XX.XX% was outpaced for increase our the investment was in our fourth increased we efforts the assets saving continue seasonal revenues, noninterest invest and X.XX% actions, on the In addition to year, quarter quarter fourth fourth business. the Return for Last, XX.XX%. we average technology. in on X.XX% fourth because the advertising in with quarter, from for the the while these efficiency year. expenses quarter for X.XX% and the equity in and our cost

back of equity share year that, turn Our tangible G. tangible I'll increased our book strong end and per value the the was it $XX.XX at With C. to X.XX%. ratio common at to

Chong Guk Kum

manner, Thank fourth in you, in the improve prudent cost quarter grow net margin structure. a reflect interest protect Hanmi decision Ron. results to and to our and our safe

judicious we environment credit a yield is with the Given headwinds flat from the point convinced most at this further approach cycle. coupled that are competitive this curve, in

to you we to ahead targets, our and when profitable our strategic put I growth in growth drive our efficiency Hanmi with operational you. look progress XXXX, beyond. reduction XXXX good to initiatives, Our first we continued coupled with will cost results Thank very as position report a look and sharing forward quarter in April.

Richard Pimentel

to for Matt, would our like concludes the up that prepared We call questions. now remarks. open

Operator

will Thank Great. [Operator Instructions] go McGratty first session. time, Please from At KBW. from question-and-answer you. question ahead. is Chris Our this a we be conducting

Christopher McGratty

aggressive question very a maybe volatility market. the you are you; with the for buyback the the very, in Ron, guys quarter given in

for stock managing maybe done remind you're cost the us guess, target to? potential your my of you're the through like the buyback another with a can is average you So capital Thanks. with slowing bucks that below buyback. I and the a bit, question growth talk couple or

Chong Guk Kum

is Ron Chris, at me. Okay, looking

we will target, between a the common And with proposal X% going have yes, another target, plan. the be - X.X%. buyback capital Board equity So, to capital tangible is target our to to

Christopher McGratty

at Okay. And authorization weeks. come to Board the assume the assume might fair next in then, that I point? meets couple that the Is that

Chong Guk Kum

Possible, yes.

Christopher McGratty

is talked the of strategy is benefits help which making you you switch sign. kind I towards million $X I the like way good the realization are full saving just guess, of of a already XXXX. into their and the numbers, in us quarterly trajectory? If of of in the could basis. expenses, seems about on with of and numbers us dollar expenses glide maybe some to kind $X.XX end much the the Can it Okay. the with terms the I think help the a by how

Romolo Santarosa

So be A the XXXX say about the remainder same branch last first complete in can idea will we million and out the a longer. third to the we little remaining of reductions be the branch the quarter. year. consolidations. contracts, more where will of from $X things about or save would staff us out renegotiate take comes The the in staff to the to on is organization areas reductions. third that two-thirds the like. related consolidation, half I come we will takes of path that just The expect of bit bit of up through as consolidated of costs total, ferreting as That save little time by the quarter that third finish next branches

of get is more quarter. that half So I and we anticipate as year get we to that the manifested so second the full save fourth would the the to as

Chong Guk Kum

of Yeah, year. quarter this year, not third next

Romolo Santarosa

sorry. I'm

are Sorry, my But mixed up. years right. you're

Chong Guk Kum

XXXX, in already Ron. We're

Romolo Santarosa

Thank Correct. you.

Christopher McGratty

make year, down range just Okay. And clear, run end sure by of to make is should it rate? the the trajectory kind to quarterly that the I'm XX-ish Ron, the of that

Romolo Santarosa

like I hit would we the to by quarter. be we time fourth hopeful the get that XX more

will because elevated first taxes will of a be you quarter the bit payroll little rest. if So, and

difficult will quarter, little of reductions because one consolidation, start taken effect. a into bit that's you a that's staff the have Second timing last the third, the predict. more more of to to branch bit And then, would see the

So will the G. C. see of corrected XXXX, we second I'm as that by start the quarter. me, it confident fourth in half to and very definitely

Christopher McGratty

Okay. That's Thanks a helpful. lot.

Operator

next Davidson. Our D.A. Please from is from go question Gary ahead. Tenner

Gary Tenner

afternoon. good Guys,

Chong Guk Kum

afternoon. Good

Gary Tenner

metrics million the being ask about I build about process as and credit in thought reserve I'm have you strong that. decision credit up? couple are as to the decision that representing curious back general. I reserve to that talk the and the on build just $X.X with back provision where the of to the questions. provision we specific your in of charge-off most against increase for the guess, quarter, given carried first, I a reserve to just want charge-offs and Can

Chong Guk Kum

is several deal one credit an that ago. Well, years impaired credit we to started that with

the and economic the a as metrics we standpoint, issues as quality then they're with in can for the really, uncertainties, with dealing from departure, some sense asset frankly, start with that I the get. in, But side. - CEO’s as quantitative the with we're some So you strong call us have relative what to mean, we're pending it indicated, made about environment qualitative

sense? quantitative. And so, is towards the the than bulk the rather make of provision more the geared that Does qualitative

Gary Tenner

Okay.

today, So just you're internal where not kind are uncertainty? necessarily expansion seeing credit scoring and your understanding, in of any my we anything environment but in the or in maybe the

Chong Guk Kum

I as their down And with Correct. look they're far. to crystal that - down my And goes credit only not first after quarter, mentioned, in mean, of to meaningful and actually looked people, I seeing any type we've activity the discussions out charge-off ball the tried road.

that say would So would for say the people I very, my from I positive, was credit benefit. positioning

Gary Tenner

will until then shutdown, maybe as loans qualified just activity would that SBA loans government the after would there say Thanks on Okay. as - sale is SBA be there gain but would over, that weren't to given no be their there they SBA, that long for be - how does regarding it or mechanically? safe And production, shutdown G. as just work is C. on, government goes

Chong Guk Kum

with is government can over, can't government shutdown in SBA closed, the can't we sell sales activities. but yeah, these ongoing, Well, immediately - are then and ramp up conclude we the once still the or so closing the activities programs we the loans

efforts they as and government well been seem notwithstanding be up holding marketing the speak. to shutdown ongoing have And so, we the fairly

Gary Tenner

Great. Thank you.

Operator

from from Piper ahead. go next is Please Matt question Our Jaffray. Clark

Matthew Clark

good Hi, afternoon.

Chong Guk Kum

afternoon. Good

Matthew Clark

for that you be they're your deposit are? rate hold can a hold a that on with me for today, could a What the with fed and that on pricing general be renewing the give one pressures first where your and competitive again for exist just us fed into for CDs might sense on while, little bit. Just

Bonita Lee

So I'll cover that.

as like X.XX%. we we as had money in X.X%. the average rates that's them cost as some high new terms at at fourth or the of the the of quarter, But as at During are CD offering maturing retained coming soon competitors in, X.X%,

are months about for money X% We XX for averaging now.

Matthew Clark

then go - And Okay, ahead. great.

Chong Guk Kum

are from if on of but as [financial] the the just as the fed bodes that seems us Also and competition industry. these [ph] far it and let the only eased standpoint, market deposit longer while the somewhat that could kind sit I well concerned, a products the entire sidelines has think for for stabilize not

seem that seems to early environment indications CD So some the there to pricing be be stabilizing.

Matthew Clark

us leases the Okay. switching of equipment gears on Then things. weighted give to loan average rate the the side just quarter? in Can new you

Bonita Lee

the leases The came Sure. for in X.XX% equipment quarter. at

Matthew Clark

And normalized what sense that Ron can as give on to that G. a the portfolio do for can you that a rates C. you to think are continues increase or relative you and Okay. speak us basis, on portfolio? loss

Chong Guk Kum

in our one in of calls, XXX had think of XXX points. this I than XXX, basis California; rate acquired a we substantiated that below I this less In loss from in portfolio loss basis prior when in said modeled been Southern the bank we points. has fact, rate well reality

for credit Our our though close is average leases weighted modest. even X%] rate is trade-off yield portfolio on somewhere [go model to [ph]. the to very of loss The very, been quality and these has so

or rate far terms see economy, performs And less so, it this in I how in of XXX we'll our asset a of program, expectations quality. has this points so type and a see loss we maintaining if basis exceeded so course but particular of of us product on slower stayed

Matthew Clark

is XX the right number me Okay. the And or? forward tax then on last Ron, rate going just for one

Romolo Santarosa

Yeah.

Matthew Clark

Okay, great. you. Thank

Operator

question Partners. go Coffey Please from is Next from Tim FIG ahead.

Timothy Coffey

at a steep everybody. end Good. has SBA it I that his of The was the rather comments afternoon of assuming there think than Thanks. the it, point course, reopen? premiums the Ron where economic Is kind more hold to of been X.X%, that there in of selling premium, drop-off kind was production suggest it the mentioned, Good a sense half makes government 'XX. in back of SBA

Chong Guk Kum

a to sense, duration putting of that of originated, the with us of in have relative to because but the enable sell. basis, get elements excess maybe will SBA process a changes. to We've that's do other earlier, the seven depending if decision sell with is. can make get there seven things or case And intuitively, Yeah, of probably a environment well, we program, makes as above - analysis but we're the on together and rate the range type retain, to it by so that a when basically I of loans premium the - to determine one just profitability somewhere I mean, in we the of if but we loan, it, on type mentioned those the decisions a case the in about we'll premium probably we'll associated

Timothy Coffey

prepayments Okay. we the see expect re-hike And past December, could quarter should increase? then similar of we to or this with level a it saw in like

Chong Guk Kum

with it over is, It's because refinance. than estate the associated the held the sale by just for prepayments The board. does prepayment that just rather not to predict work activity our commercial basically been the real time Many taken all of of place us. just, customers have is

sure focused I upward been risks it's pricing loans, of the in Bonnie's hard we what - very get go. to the say really undertake that gotten paid what because good for - just And these as we when But we have to loan that should of we've loans. going products terms on I making make under or traction the of leadership, these presentation, my predict I'm to way our feeling to tried so is very in about allude our where that's

of of quarter all ramp-up it from rates, third terms to And it activity product interest gives - in across fourth in in the of just me our lines, fourth increases the even And so are terms the the feel lucky if got bottom. an at maybe margin with about But hope I uptick. trajectory. interest we fed, good our will near or net that we quarter, we maybe see

Timothy Coffey

questions Okay, my been great. other Thank you. answered. have All

Chong Guk Kum

Okay.

Operator

D.A. go next from from Gary Please is Our question ahead. Davidson. Tenner

Gary Tenner

Hey, glean thoughts question, systems CECL, relates now just so you Any kind far? you've from - to I through follow-up where where just of you gather Are data? update you current now to running already of to anything obviously starting sort seen had guys. a it's continue Can initial XXXX. are? you it to as

Chong Guk Kum

our of don't under running. there And expectations now, kind as well of preliminarily, in some, is scenarios, terms too the that modeling a what-if to in to impact up been the getting terms think of in program But be We've underway Yeah, soon well will. if and running it's and going CECL far of meaningful the way and shareholders we're meeting I'd I ready. CECL our and be regulators we'll if way you game. as is any capital. conforming our But implemented we're when say,

Gary Tenner

this the level, of And I no have Thank are if is Okay. hikes? of directionally think kind the you some deposits, quarter there for that. where of and think your there pricing question degree. given margin may XXXX, sort rate for on no been over asked further if But to answered XXXX from discipline just hikes course and see you fourth where do you that sets your

Chong Guk Kum

is in paid competition higher have is as a earlier little on put on and getting - as things it focus did than we because that to to maybe done said, of a as place discipline good if I of really I - bit the I'll the rates we one and you - will far these job loans.

so, data, one been can we about as has loans. making on and very each get positive. trajectory look quarter - everything that we And Bonnie every the sure I of The at is good the every

margin that I is market side, - your the confident to a higher that industry not I'm deposit we get that willing little the pricing, so, entire only scenario, And bit industry's ultimately, liability finally if a think we're upward believe fairly pay I on movement. And of I help us, little rate i.e., an think have environment the will bit under can in. net but in the interest

Gary Tenner

you're competitively fearful what just of deposit not And the lag or upward your ongoing based in you're on creep deposits, seeing commentary the on on market on side?

Chong Guk Kum

difficult Well, that do that to ignore. absent put having that there. would is ridiculous issues, issues in a our, liquidity some competitive so, some bank would mean, them say when particular, could arena, I something is, liquidity I bank say caused then to a they'll happen. out And really having in I rate

as Korean-American I deposit think of the stability community, signs concerned. even seeing as some far in we're banking already pricing is

Gary Tenner

Great. for color. Thanks the

Chong Guk Kum

You bet.

Operator

Our go next Don ahead. is from Raymond James. from Worthington question Please

Don Worthington

of you, questions. Thank a couple just small

terms you how related kind Is be consider quarter, that much it branch In the kind nonrecurring? expenses closures? of of number the would of during to $XXX,XXX to

Romolo Santarosa

Yeah.

Don Worthington

that you of diminish? OREO to And roughly okay. like had in you or of two quarters. looks last Okay, Do then about income expect $XXX,XXX the continue kind

Romolo Santarosa

number, or predict volatile to when we get a we it's when have Don, a hard very charge. A benefit

Don Worthington

guess, Okay. amount from the it. got but I special of you you dividend What was And, this FHLB? I that lastly, mentioned the Ron, missed

Romolo Santarosa

$XXX,XXX.

Don Worthington

Okay. right, great. you. Thank All

Operator

Thank to management you. closing the I'd question-and-answer like turn floor This for session. comments. any to concludes the back

Richard Pimentel

for you and year Financial's speaking conference fourth full quarter call. forward Hanmi XXXX We quarter. results look to listening to to next Thank you

Operator

teleconference. today's concludes This

lines disconnect for this You you Thank may time. your your at participation.

Hanmi Financial (HAFC) 15 Jan 192018 Q4 Earnings call transcript