Hanmi Appoints Bonita I. Lee as its Chief Executive Officer
April 03 2019 - 4:05PM
Hanmi Financial Corporation (Nasdaq:
HAFC) (“Hanmi”), the holding company for Hanmi Bank (the
“Bank”), today announced that Bonita I. Lee has been appointed
President and Chief Executive Officer effective May 3, 2019, and as
a director of the Company and the Bank effective immediately.
Ms. Lee succeeds C. G. Kum who is retiring from Hanmi, as
previously announced.
With more than 30 years of experience in the
banking industry, Ms. Lee joined Hanmi as Chief Operating Officer
in 2013 and was promoted to President in 2018. During her
tenure with Hanmi, the Bank’s total assets have nearly doubled. Her
deep understanding of the Bank’s business and strong record of
success positions her for a smooth transition to the CEO role, and
allows Hanmi to execute its strategic initiatives.
“I congratulate Bonnie on her appointment as
Hanmi’s next President and Chief Executive Officer,” said Hanmi’s
Chairman, Joseph K. Rho. “The Board recognizes Bonnie’s
integral role in Hanmi’s success over the last six years and has
the utmost confidence in her abilities. We anticipate a seamless
transition as Bonnie takes on her new leadership role at Hanmi,
building on her deep connections with Hanmi’s customers and
employees. She is a seasoned executive and a highly respected
leader in the Korean American banking industry. I believe that as
CEO, Bonnie will expand upon Hanmi’s distinguished 37-year history
of serving our community, while strengthening the Bank’s position
in the markets it serves.”
Mr. Rho concluded, “On behalf of my fellow board
members, I would also like to extend our deepest gratitude to C. G.
Kum for his service to Hanmi. C. G. led the Bank during one of our
most transformational periods. We wish him all the best in
his retirement from the Bank.”
Prior to joining Hanmi and Hanmi Bank in August
2013, Ms. Lee was Senior Executive Vice President and Chief
Operating Officer of BBCN Bank and BBCN Bancorp, Inc., where she
was named Acting President and Chief Operating Officer from
February 2013 to April 2013 and led an Executive Council carrying
out the duties of the Chief Executive Officer during a management
transition period at BBCN Bank. Prior to this, Ms. Lee served as
director and Regional President of the Western Region for Shinhan
Bank America from September 2008 to March 2009. Prior to joining
Shinhan Bank America, she served as Executive Vice President and
Chief Credit Officer at Nara Bank from April 2005 to September
2008, and as a Member of the Office of the President from March
2006 to September 2008. Ms. Lee also served Nara Bank as Senior
Vice President and Chief Credit Officer from November 2003 to April
2005. Ms. Lee is a graduate of the University of Illinois,
Chicago.
About Hanmi Financial
Corporation Headquartered in Los Angeles, California,
Hanmi Financial Corporation owns Hanmi Bank, which serves
multi-ethnic communities through its network of 35 full-service
branches and 9 loan production offices in California, Texas,
Illinois, Virginia, New Jersey, New York, Colorado, Washington and
Georgia. Hanmi Bank specializes in real estate, commercial, SBA and
trade finance lending to small and middle market businesses.
Additional information is available at www.hanmi.com.
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 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 Corporation, 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 and lease losses; credit quality and the effect of credit
quality on our provision for loan and lease losses and allowance
for loan and lease 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,
including, Item 1A of our Annual Report on Form 10-K for the year
ended December 31, 2018, our Quarterly Reports on Form 10-Q, and
Current Reports on Form 8-K that we will file 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:
Richard PimentelCorporate Finance Officer213-427-3191
Lasse GlassenInvestor RelationsAddo Investor
Relations310-829-5400
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/58b9b984-2e87-4a7b-9fdc-46e41617a183
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