HAFC - Earnings call transcript Q2 2020 | Hanmi Financial Corporation

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Operator

Ladies and gentlemen, welcome to the Hanmi Financial Corporation's Second Quarter 2020 Conference Call.

As a reminder, today's call is being recorded for replay purposes. [Operator Instructions]. I would now like to introduce Mr. Lasse Glassen, Managing Director at ADDO Investor Relations. sir. ahead, go Please

Lasse Glassen

Chief and an the on Santarosa questions. to the all trends activities, conclusion Quarter plans, operating discuss Lee, Kim then Lee loan Anthony industry may that are operator, financial Chief At discuss Ron and today. Officer. more will forward-looking operating of Financial XXXX Mr. current position. open joining In for based the events, With and Bonnie and statements future Ms. Kim, CEO; and we me Hanmi begin of President deposit results Officer; financial thank you, details remarks, and session our for may Santarosa, with will will call, we you will include us affect prepared comments and Earnings company's Banking overview Thank expectations, and Financial's on performance. Mr. provide a today's Second quarter. the

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

slide our accompany call. Bonnie? our refer be the earnings our For Hanmi and including Lee. risk results hanmi.com. our XX-K. section a affecting may our differ Investor and of website that the of can along over cause expectations, Bonnie to financial for to found will particular, in Financial the turn release today's discussion supplemental we please In quarter presentation afternoon, Relations our to contained release, to certain XX-Q. factors issued now XXXX, some the outlining documents most I our in of our This recent call to second factors with at Both news from filings, a presentation SEC XX-K business our results our investor Form Form direct you

Bonita Lee

be today past during us with XXXX quarter for Hanmi's afternoon, and to second execution Thank performance what operating uncertain second am deposit and by growth loan Good in gathering everyone. resulting COVID-XX Lasse. to the you, pandemic. ongoing quarter results. this discuss activity. continues difficult from was Overall, solid quarter an you joining strong consistent Thank the underscored extremely pleased in team's I Hanmi's environment, the

customers also support We continue communities. to diligently our our and

them portfolio crisis. Protection In remain customers PX, Paycheck life extremely our addition of our the on providing to help individual management the Program the lease through to we under by efforts support focused get our loan or proactively ultimately to and

continue we quarter the following the operational challenges the by second for both and on face and basis. Net year-over-year a the sequential imposed higher While was to pandemic, are key income of quarter. solidly highlights some financial

benefited the we from credit increase, from on loss our repositioning pandemic through the arising during quarter, the While gain of portfolio. sale securities expense

loan New PX included very and strong production slight. was significant were during loan while loan quarter payoffs the second production

sequential point the driven As increased provision increase basis interest a both reduction by noninterest-bearing led and quarter-over-quarter credit nicely margin the loss Net the quarter quarter sharply net in in expanded that principally during year-over-year Deposits basis. in interest loans. slightly despite quarter a on loan income from part lower-yielding sequential was increased result, PX receivable demand before deposits. XX

a perhaps But ample I relief strength remain of and pleased Hanmi's the franchise. liquidity. programs deposit most While importantly, remains Hanmi well with capitalized deposits the a to various increase portion flight government and of from very reflects has security,

I very are ratios believe we to these are Our strong, well address regulatory positioned challenging times. and capital

compares per second favorably the to second the quarter income $X.X share associated quarter quarter income net diluted be million in the by of This with the Looking per impacted or $X.XX in pandemic. previous income reported share COVID-XX in year. more net detail continues in quarter and Net share. per uncertainties of of at last our we net results, to $X.XX $X.XX second income

credit prior $XX.X loss the quarter expense Second increased to $XX.X million million, from quarter. up in

includes others. and the off-balance the credit remains determining some doubt, sheet economic provision our of in a in $XX.X of reflects The for $XX.X continue and loss allowance on portfolio. sale monitor assumptions closely the will provision the the The expense a loss of the for reflect Partially increase employment, for this losses losses, deterioration unrealized million from loan expense $X.X of to our activity fluid including million very very a quarter of used million items. gain credit credit the a in the impact during second quarter we the levels low expense capture to and quarter. on securities securities crisis a on securities recorded among high Without situation, sale environment. rate gains gain interest arising loss was of in offsetting credit portfolio The of the repositioning level

the did during Hanmi quarter disruption the in expected, resulting secondary second the loans any SBA of sell not crisis. the As from market, because COVID-XX

in expect, quarter. to resume selling SBA third We the however, loans

million a held June at of the As XX. $XX.X portion sale were of guaranteed for there result, loans SBA X(a)

compared contact leases turn our Nonperforming asset well of modification. addition estate XXXX billion. the encouraged guardedly XX% and COVID-XX totaling nonperforming seek $XX.X basis The of with discussed and over agreement. of the hotel, quality. quarter $XX.X to to not we million modifications basis the on points million with $X.X call loans We to approved million XXX in reflects of caused loans now XXX points for of The at million increased offset payoff borrowers about loans. may $XX.X kept applications loans Let's credit loan modifications, $XX.X second seek an loans $X.X XX-day temporary our tax the additional X quarter close our secured loans retail and accruing XX-day first of of as their to status. nonperforming film then, other a quarter loans, to borrowers in $X.X number Since million, that totaling loan other modestly X,XXX have our or the or are reaching end totaling real the as pandemic in million last X borrowers increase returning by quarter

of you rapidly borrowers or the the of circumstances as virus many can fall. instance are facing rises change As the aware, our

will work last As we borrowers with quarter, continue in our times. we to did these challenging

In conservative terms of our underwriting, we committed disciplined criteria. credit remain to

second quarter on XX.X% originations the X.Xx, quality For from loan quarters, asset data ratio and and estate debt-coverage weighted with average commercial were respectively. XXXX, consistent loan-to-value real the the new prior

the Anthony as detail on commercial second X.Xx, entire loan-to-value average the provide changes end the and coverage average weighted estate quarter will the real additional For to debt the XX.X% and ratio respectively. of of the portfolio, With of weighted would deposit were to Anthony light and in quarter production activities. results Banking that, Chief underwriting to discuss over the like call COVID-XX Officer, Anthony? loan second our crisis. gathering I to turn Kim,

Anthony Kim

activities, over generated Thank production will turn Total deposits and for gathering Ron you, second as the the strong second volume and except $XXX.X production it leases. then new equipment through in million loan loans leases, volume loan quarter our discuss and declined major of loan additional categories million growth million experienced Santarosa results. loans was to the of and financial production expected. new across all Hanmi quarter. details $XXX.X I Bonnie. and We $XXX.X PPP where of included quarter

million real leases. quarter volumes quarter, $XX.X compared loans. as the commercial production C&I More of $XX.X specifically, second of commercial quarter million second $XXX.X $XXX.X primarily During of to million originated was SBA precrisis equipment [indiscernible] of Rounding out of million consisted we these second approximately loans levels. estate of and one loans. production

the for and leases and quarter weighted yield PPP loans generated loans. average of X.XX% Newly had lower-yielding a a includes

the in under the average commercial note, production over loans XX% new basis prior nearly lines quarter, on the points PPP of on X.XX%. production to Excluding quarter's of weighted credit commitments from quarter million. the X.XX%, down new $XXX XX was yield Of previous increased yield

quarter by of quarter with a However, quarter low to balance provide efforts the loans help customers utilization billion, from up Similar last of update end second just of like our X.X% the first the coupled during of an production ago. rate lines quarter end quarter, loan fell receivable $X.XX commercial to $XX need. year in expanded quarter-over-quarter, to level of our nearly loan I'd the at quarter, the reflecting X.X% Thanks relatively time credit payoffs, second to this XX.X%. million to from on at and up of solid a end

approved for modification, requests XX, billion X,XXX and totaling leases, payment of of As loans we approximately comprises our total have XX% of $X.X June which portfolio.

Suffice crisis and addition, with have customers been are been very the I production, with say, PPP weather them In earlier. to working noted have we very loan to our the also help crisis. throughout active engaged as the we

an The overall increases the liquid deposit demand this second current demand compared led underwriting the of for million the $X.XX light XX.X%. underwriting, XX.X%, with was limiting the second quarter at more the with expect deposits, market. I increase with of June quarter, the Hanmi demand March at Deposits PPP new $X.XX do from economic with stringent XXXX the of money the within XX, growth and we'll noninterest-bearing loans the primarily aspects industry. economy deposit $XXX.X the slowing to caused at XX%, Deposits held as totaled disruption originate this end will $XXX.X deposits Noninterest-bearing billion tightened well market from representing activities In we pandemic, prudently in interest-bearing increase hard which XXXX. continue certain by million of the during at PPP to XX, continue respectively. deposits Looking of impact of and term. XX% to customers as of as end the high-risk we preceding assess increased customers saving quarter, due to includes origination quarter billion increases compared our deposits near on and loans. $XXX.X with over quarter second customers of XXXX, observe with

quarter over was our the deposit compared loan result our a turn and in XX.X% now second of gathering second to loan Santarosa, would I ratio Ron production second activities, Financial of Chief end like quarter As the last XX.X% with year. call Officer. to the at quarter deposit Ron?

Romolo Santarosa

good you, Thank and afternoon, Anthony, all.

up With pretax the $XX.X X.X% million, quarter. the million. second with $XX.X noninterest noninterest of million, income pre-provision of income Let's begin for was origination for expenses $XX.X pre-provision deferral quarter-over-quarter. income of gains PPP million, security pre-provision Pretax Adjusting $XX.X interest loan and and of net costs. was million income income $XX.X pretax

at from driven by expense Looking million, lower average increase of offset interest-earning interest by we despite backdrop assets. income, second X.X% yields a income sequentially, $X.X all reducing quarter overall total million a $XX.X an deposit the rate in posted by the in asset in up from the in X.X% decline quarter, X.X% against for classes a decreased decrease interest Average interest XX.X% environment. loans net partially interest prior income

$XX yield PPP from when interest million expense interest XX on interest-bearing lower lower the the deposits. driven or XX quarter interest-bearing interest million continued in X.XX% point addition, to In liabilities to rate with decreased $XX.X by quarter deposits. points the corresponding decline environment basis basis the driven XX.X% points interest-earning loans. excluding margin on by effect cost XX in mix basis points points by the of basis basis Net cost paid to average decreased X.XX%. the by linked XX by of The deposits for shift the to The assets in X.XX% rates decreased XX to of fell a X.XX% and

rising represented deposits, deposits, deposits XX.X% from quarter quarter. time while As costing the X.X% demand the XX.X% previous relatively were higher noninterest-bearing deposits declining June, for of of XX.X% total prior total of

total the in increased lower drivers conjunction shift deposits rate X ongoing XX.X% While the mix main on were by with of improvement the environment interest deposits. in deposit in the sequentially,

securities. on to We $XX.X $XX.X to the also the lower noninterest SBA significant during Offsetting from from $X.X of on the gains from gain any million. saw arising in to of the loans fees we were of reflect quarter. fact sales XXXX for lower securities deposits capture increase income. the of quarter second our million charges primarily was high first comparison, million the $X.X next first that activity The the second environment. increase not quarter gains the sell million increase to levels $XXX.X the and of By service in SBA the of did of a and was sale sales for Turning for level quarter on from due portfolio rate the of on very repositioning million the the The quarter. loans gains low unrealized

was from we have quarter. mentioned, this on SBA were $XX.X we ahead, as decrease and decline Bonnie $X have primarily And last million due Looking million finally, benefits sales, expense. salaries a [indiscernible] SBA gains loans of loan quarter, sales noninterest sequential resumed quarter. $XX.X and This will XX.X% a expenses million in to

in increase PPP $X.X decrease we a a see Here, reduction $XXX,XXX overall. loans, deferred payroll and principally taxes the in costs, from drove loan million

prior professional the of also At had borrowings XX.X%, in from the realized from and the FHLB and availability. in declines XX.X% advertising quarter billion We savings of additional bank from fees June promotion $XXX respectively. and XX, with unused remaining $X.X million

As of secured end unsecured of bank million. the the and the also quarter, $XXX of unused had second facilities

this we on bank of vigilant as liquidity believes unfolded it Hanmi Federal the needs facility value Paycheck at $XX.X the in this in was With I with assessing strong COVID-XX cash of at to second Bonnie. $XXX.X uncertain in to June at will the end quarter Program period. liquidity liquidity has and remain bank. $XX.XX share July. in company potential while common and did date, participate addition, quarter uncertainties XX million our At the address advance Tangible back turn equity quarter. tangible to X.XX%. In pandemic during per Reserve's remained the it ample book of outstanding ratio And Protection the behavior million We've customer they've repaid the with the end, resources the deposit had that,

Bonita Lee

Thank you, Ron.

a half this As position we of to pandemic. efficiently, and operating protecting we portfolio the focused second strong on to begin in maintaining be withstand keenly liquidity effectively our and capital continue XXXX,

uncertain employees you well move positioned forward, to and report I sharing communities emerge health prioritizing ultimately as our times, third committed October. forward As and of safety loyal in from to with these we remain company. our a our we and XXXX stronger customers the supporting to results progress continued look we our and when quarter

Lasse Glassen

remarks. that Operator, now our open like to call We'd prepared the for concludes questions.

Operator

[Operator Instructions].

is Feaster Our Raymond question from David James. first from

David Feaster

are interest-only I versus details re-deferral the percentage wanted any full How -- read-on and payment these on Just deferral? XXX-day on XX-day modifications? mean I early and to the re-deferral that were the just of rates. then the again, start on -- then early versus read rates?

Bonita Lee

is payment $X.X we overall most of modification XX% under But Sure. deferral. our of our of had for on Approximately were have we portfolio XX, period days. as about as these XX% billion, the mentioned, of the modification. representing June of XX modifications And

So modifications. its second late to our loan where and customers we starting wave they going part July, through have the also in where review of of the relationship. contacted try the assess June we on And are individually are and

think So on wave have that, what -- current is focus than XX% from will bit that in it's a about the lower communication deferment a from of base, of modification. received based we second the on we the the the responses the customer that be that

David Feaster

additional helpful. I anything? these That's guarantees? just maybe any grant And then modifications, personal ratings Okay. you then to are or as any And guess you additional risk downgrades collateral, acquiring

Bonita Lee

with. the modifications, As we them speak, place the begin currently loans in to most of and guarantees of the have almost of -- most

are we in collaterals, each of additional terms reviewing cases. In individual

of most them, to we haven't collateral. ask for additional had far, So

David Feaster

guess one the me. for last I then just And Okay.

about maybe Just seems that done, that how builds? and modifications mean, think we builds? negative you of some just I like migration, just some it reserve modest then as I credit your should into has do do reserve how additional heavy come maybe Or translates forward? think these the but of you been most through expect lifting mean going

Bonita Lee

loans to on in because these very terms the the to still of have the say It's of that modifications wave we each loans impact difficult on second individual reserve review.

third the at -- quarter. -- fourth number, end I a get we think beginning towards end of third beginning towards can the even the the quarter, maybe of quarter the of the the more maybe think, of I the So or clear

Operator

question Motta And our KBW. next Kelly from from is

Kelly Motta

Obviously, healthy. quarter, maybe see, pretty another your last have did But switching Let's you gain cut ratios to it securities the quarter, this capital. absent quarter. regulatory are been again, dividend still would lower and the

dividend as you last at are if guys sustainable that what about declared environment? uncertain wondering this feel thinking -- something point you in can May the is So you how I'm the -- just this be

Romolo Santarosa

fairly capital of important are effect matters the management as ratios. capital and for as That program they bulge are really our you know, those to said, as you quality the you are even stronger PPP strong, that ratios when some asset give and as well and observed, to start So both management Kelly, Board. causes liquidity the

was So we we're deliberate in will I How about good reduction I on quarter's think But of do does where capital. we standing the feel we think uncertainty the We think all so I -- in will Board the meeting. again. let will think determined be dividend capital each They it see will appropriate. today, shortly. light next?

half but If protect of good you to the and the the of the capital I also first think both institution. that for stewards first paid in unfolded being about demonstrates capital good half, being how the think dividends shareholder, stewards just

and Board decision. Board the the its So will will have meet

Kelly Motta

what and And what can Okay. around And could all some could you've that a share to have of is went lot in. factors in you whatever your were you credit. for we I deferrals. forth switch CECL. back -- better was if that modeling. maybe a you rate a the the I or you in, kind bit this hoping color And so incorporated was appreciate qualitative quarter of it I or GDP backdrop put a maybe I understand unemployment change put factoring understanding under kind out of of

Romolo Santarosa

Sure.

Reserve, have Federal the the not know, that -- provided were from this at in a on for is economic the we've is much Federal looking So qualitative of Data. We using data adoption through heels and called, be the onset to time -- recollection FRED at the adjusted it's the is CECL And for about idea quarter, notion Reserve that us the the each at X% first what they of year. we for the the environment. Economic pretty In other. second we're in a quarter, a as may first data. quarter. and that you GDP In Moody's of less adjustment My which in or forecast period, moved COVID COVID

just looking X the below For probably numbers at for we're new unemployment, X% horizon.

on I've Fed look today, at be. to they if we're those calculation, or where unemployment consensus of where even when at different two from seen two views deliberate the elements the drivers current members although the So they least probably think approaching we maybe those is that might

So it would be might at I so. to we nice don't think be high that say a point.

you I think initially have see have that reserve sure. a But over better turn share to you can to I if the we tell was economy disappointing need was to still some How like of with. of is. that is is still that what build how this might the going sense where unfolds. resets. lion give the I'd out, perhaps me we plays say can to What not promising But how out,

Operator

question Davidson. D.A. Gary Tenner next our is from from And

Gary Tenner

Bonnie, you the expiring those Did of to I your that say of re-deferral a in requesting second that rates. I correctly of are sure terms or referral heard that XX%? was wanted XX% make comment the folks number

Bonita Lee

that about correct? of of original XX, So modified $X.X the modification. from current that second additional we And may XX-day -- about request as modification, not June customers wave the Is XX% first have the from billion.

Gary Tenner

Okay.

it? that request think will saying you you're So XX%

Bonita Lee

Yes. Yes.

Gary Tenner

Okay.

obviously, deferrals? the Okay. I'd second retail probably fair? and with That's overweight would borrowers higher heard round other hospitality amount be bit Is a imagine those that quite exposure, there that from is banks, that the an requesting We've of number.

Bonita Lee

Yes.

among will the I all segments, higher, the hospitality be think yes.

Gary Tenner

Okay.

source think mean, of you credit production -- of Okay. as quarter. big line the out, And for your kind to kind pay the quarter, of this one a downs offset pointed of I the I then

utilization. I that what of your think line and in worth line of of at is pressure additional portfolio. $XX end, It's quarter sense million utilization the in decline also downward was what

Bonita Lee

utilization second from given anywhere will was any is and to utilization trade XX%. In quarter XX%. line quarter, So XX% -- line

[indiscernible] that quarter I lower much, much economic would presume average. second our activity. But for So was than

Gary Tenner

down still is further? banks me some Right. Do you for line tell far right I've might? a mean that expectations have potentially Do how of I you now. that sense utilization had sub-XX% their getting have

Bonita Lee

it presume move not a would quite XX%. XX%. to like from I It will may reach to XX%

Gary Tenner

Okay.

little a from that's saying level? more you're So stable this

Bonita Lee

Yes.

Operator

Instructions]. [Operator

is from Kelly Our next from question Motta KBW.

Kelly Motta

hoping some PXs were like, yields is if Just on the to the and repricing new loan the there. color potentially there get on offset of was NIM. I looking pressure by off what roll

Bonita Lee

loan yields of offset second about new And quarter, CD excluding repricing loans, Kelly, the the X.X%. rate. partially by, that's were obviously, in PX

the that's basis it CD the have over little And $XXX little XX below if have million X%. over into Going points, a we'll in -- savings priced price successfully XX XX we we quarter, -- third down a there. the over to basis points

the the loan In new the drop, are pipeline, our on lower the too terms the competition, definitely But quarter, to our there's have a still of up. the pipelines of just goes watch much pricing and more compared we're loans. not new competition the we how points -- to of -- with yields still second at so rate couple But basis looking beginning loan quarter. at we new

Kelly Motta

dead at in rate. did least, what additional If lot had some have may well, not about -- re-deferral a June you who the just horse if beyond new coming need a And to there's XX. Great. kind see with deferrals, we've borrowers slowed of want to deferrals, talked assistance but beat I or if at

Bonita Lee

pretty not we the So have same deferrals. customer that deferral. It's a existing new did had we base

the So no customers one And improve new from just a to existing deferral. base. customer new the we're said I for -- positive is that, asking that trying are

today, based what is wave that had deferral. from middle of customer a about the XX% we communication on in So of the second be there'll decrease to think we the the expressed so has far the that June

Operator

from Sandler. And our Piper from Clark question is Matthew next

Matthew Clark

And your any be but would dealing or On here you to like any sense customers, I the color with as medians, for there you're levels? of hospitality helpful. speak where occupancy averages exposure, late? know rates breakeven look

Bonita Lee

Sure.

-- this industry on is a know, how we performing on is that almost tracking basis, and you we so a portfolio tracking the industry. daily [indiscernible] we are are a -- And overall

occupancy starting -- April where the mid-XX%, down was XX%, around So from XX XX%.

the industry-wide. at XX% slightly at moved And portfolio up to occupancy XX% and part our the the June above of early to is average. Now tracking industry end July, level of has level actually

sign it's think fairly a I sector. good in of hospitality terms So overall

Matthew Clark

Okay. million, Great. three on into And can what provide then leases, the some increase? moved the nonaccrual, there loans excluding the drove $XX that that color you on

Bonita Lee

it's is think, This at a loan a prior general The One construction the million. is the hotel and loan. challenge is Sure. are loan contractor quarter, that that I customers we mentioned, $XX.X at the odds. it's

another And a And so financing think film is I in it's that deal. mentioned, tax $X.X the we portfolio. there's one delay million quarter, credit a second credit, the construction prior actually a

the one, ample just and that pay -- us credit. for we the tax to sale of off. And we're approve value waiting So the court have the to

Matthew Clark

amount know you your Great. much Do of billion. then $X.X that the PPP? deferrals, on maybe Okay. how got And

Romolo Santarosa

our I say PPP of lowest credits tier. at were the staffs, would that most our

I the most highest hotel are nomination. think I we know at only the didn't tier. And credits participate of because our pretty had large XX XX

So in way, get very granular some I really don't any have the lower at received think But but large it any take -- PPP. I not of don't a to Matt. ones, look the to just

Matthew Clark

I have before, Okay. months end of And SBA the rush qualify volume get I normalize -- that gain of participate to approved activity? sale of to think, here you X Should we September on going not? in checking. the going maybe just third type the then to Are expect forward the after then outsized figure on to that in quarter and covered. or in basically it's kind

Romolo Santarosa

about So through the I So loans, about is be against talking traditional expect end gain PPP you're August July, pushing whatever to when government's we're just through know X(a) up September. fiscal plain, would than year. loans, the the sale, right? achievable talking not on we're we activity

taken own that's I with anything we of its out see the unusual, So sort, honestly, things program a dynamic. see its PPP And side plays should different usually that's it actually last quite have the what we've the we'll if when if months because up what think think at worked in to forgiveness, And of that life, then I own petition with we don't element. whole think but And then will September respect that will question. step they And to have I now to out don't that and fill we out to comes. life the for renew deal a and forgiveness Once place. borrower that. with, needs look on they

traditional will and PPP The think they So be fourth. in third -- likely in the on we then the I it. that's quarter SBA address back as program, unfold, will

Matthew Clark

gross And in that you in the of X% that guys net statement? Okay. the we'll kind that mentioned premium the I release, remember. income see is or just can't

Romolo Santarosa

Yes. That would be a gross trade premium.

Matthew Clark

Okay.

So something closer to maybe net? X

Romolo Santarosa

But premium maybe would mix as the different of types of thumb, XX% a trade the a gain. book have of Typically, be rule on we depending percentage participations. Yes. loans, of

Matthew Clark

Okay. here? going need forward $X think that manage rate for to then expenses. you the ability origination run cost how PPP and the And you I over expenses from guess just do your the deferred about to Obviously, on adjust lastly just for of million.

Romolo Santarosa

staff. So some the second did in we quarter, the end trimmed of

We addressed certain have expenses.

So a now allow kind spend rate. that the not should downward. to as relative other have that's equipment of much, going small us have in we direction, perhaps, run see a our do spend personal to we but drift ingrained But protective nearly the do

higher shouldn't adjusted the be the conservative, So that there say for with to should that us. rate But quarter be second it things I'd benefit we than everything are know today.

Matthew Clark

Or anything income, it's been noninterest there trending Okay. quarters. Is higher other more unusual on I income, forgot last And one over sustainable? it X then is other just in the there?

Romolo Santarosa

basis a to us fees some of items the $X.X conversation then a, that on to respect loans. $XX related a of into quarter, finally pocket SBA we in There the back-to-back swaps. have with a paid came some to One, second that also our net quarter. and I'll SBA And the second -- fees that million due call on The the loans notional that about servicing it, quarter. were under million income outstanding they in second just of with two SBA, was were of on

probably those or not repeatable. So are necessarily won't X repeat items

So identify that out text to you we so the tried for run could table in you and the rates. work in

Operator

further in this no time. continue. have we Please questions at the queue And

Lasse Glassen

very forward to speaking for next again Quarter Second Call. Results Conference you Thank much Hanmi XXXX quarter. look you Financial's We with listening to

Operator

and today's teleconference. does gentlemen, Ladies you. Thank this conclude

thank may at your for You and you lines your participation. disconnect time, this

Hanmi Financial (HAFC) 28 Jul 202020 Q2 Earnings call transcript