Hanmi Financial Declares Cash Dividend of $0.07 per Share
August 20 2013 - 8:30AM
Hanmi Financial Corporation (Nasdaq:HAFC) ("Hanmi"), the holding
company for Hanmi Bank, today announced that its Board of Directors
has declared a cash dividend on its common stock of $0.07 per
share. The dividend will be paid on or about September 17, 2013 to
Hanmi's stockholders of record as of the close of business on
September 3, 2013.
"We are pleased to be able to return to paying a regular
quarterly cash dividend to our stockholders, who have been very
loyal over the years," said C. G. Kum, President and Chief
Executive Officer. "The cash dividend reflects Hanmi's commitment
to return value to its stockholders. It is also a testament to the
strength of the core banking activities and financial performance
of Hanmi, while maintaining sufficient capital for growth." At the
stock price of $17.39 per share at the close of the market on
August 19, 2013, the current dividend equates to a yield of 1.61%
on an annualized basis.
The payment of cash dividends remains subject to review by the
appropriate regulatory authorities on a quarterly basis.
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 loan production offices in
Texas and 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
stockholder value.
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.
All statements other than statements of historical fact are
"forward–looking statements" for purposes of federal and state
securities laws, including, but not limited to, statements about
anticipated future operating and financial performance, financial
position and liquidity, business strategies, regulatory and
competitive outlook, investment and expenditure plans, capital and
financing needs and availability, plans and objectives of
management for future operations, developments regarding our
capital plans, strategic alternatives for a possible business
combination, merger or sale transaction and other similar forecasts
and statements of expectation and statements of assumption
underlying any of the foregoing. 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: 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 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 of Hanmi Bank to
make distributions to Hanmi Financial, which is restricted by
certain factors, including Hanmi Bank's retained earnings, net
income, prior distributions made, and certain other financial
tests; ability to identify a suitable strategic partner or to
consummate a strategic transaction; 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 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, in Item 1A of our Form
10-K for the year ended December 31, 2012, our quarterly reports on
Form 10-Q, and current and periodic reports that we will file with
the SEC 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.
CONTACT: Hanmi Financial Corporation
Mark Yoon
EVP & CFO
213-427-5636
Investor Relations Contact:
The Cereghino Group
206-388-5788
www.stockvalues.com
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