Hanmi Financial Corp. Declares $0.03 Quarterly Cash Dividend
June 26 2008 - 4:05PM
Business Wire
Hanmi Financial Corporation (Nasdaq:HAFC), the holding company of
Hanmi Bank, announced that its Board of Directors has declared a
common stock cash dividend of $0.03 per share payable on or about
July 21, 2008 to shareholders of record on July 7, 2008. "The
Board's decision to reduce the dividend from its previous level of
$0.06 per share reflects our ongoing concern with asset quality in
today's challenging economic environment," said Won R. Yoon, M.D.,
Chairman. "Prudence dictates that we act to conserve capital while
simultaneously serving the best interests of our shareholders, to
whom the cash dividend is clearly important." 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 25 full-service
offices in Los Angeles, Orange, San Bernardino, San Francisco,
Santa Clara and San Diego counties, and nine loan production
offices in California, Colorado, Georgia, Illinois, Texas, Virginia
and Washington. Hanmi Bank specializes in commercial, SBA, trade
finance and consumer 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 at
www.hanmifinancial.com. Forward-Looking Statements: This 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: general economic and business
conditions in those areas in which we operate; demographic changes;
competition for loans and deposits; fluctuations in interest rates;
risks of natural disasters related to our real estate portfolio;
risks associated with SBA loans; changes in governmental
regulation; ability to receive regulatory approval for Hanmi Bank
to declare dividends to Hanmi Financial; credit quality and the
effect of credit quality on our provision for credit losses and
allowance for loan losses; the ability of borrowers to perform
under the terms of their loans and other terms of credit
agreements; our ability to successfully integrate acquisitions we
may make; the availability of capital to fund the expansion of our
business;�and changes in securities markets. In addition, we set
forth certain risks in our reports filed with the Securities and
Exchange Commission, including our Annual Report on Form 10-K for
the fiscal year ended December 31, 2007, 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.
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