Hanmi Financial Corp. to Raise Minimum Hourly Wage by 36% to $15
December 27 2017 - 1:45PM
Hanmi Financial Corporation (Nasdaq:HAFC)
(“Hanmi”), the holding company for Hanmi Bank (the “Bank”), today
announced that it is increasing its hourly minimum wage by 36% to
$15 per hour, effective January 1, 2018.
Approximately 100 Hanmi employees, or 13% of the total
workforce, will benefit from the new minimum hourly wage.
With this move, Hanmi is well in excess of the minimum wage
requirements in all states in which it operates, including
California, where some employees will see their wages increase
by as much as 36% from current levels.
“Our employees are Hanmi’s most important asset and today’s
announcement is in alignment with the Bank’s core values,” said C.
G. Kum, President & CEO of Hanmi. “The recent tax reforms
enacted by Congress, including significantly lower corporate tax
rates, have provided an opportunity for Hanmi to review our current
compensation policies and pass along some of the benefits to
employees. I greatly appreciate the important role our hourly
employees play in providing exceptional service for our customers
and strongly believe increasing compensation for these team members
will have a positive impact on our business.”
About Hanmi Financial
Corporation
Headquartered in Los Angeles, California, Hanmi
Financial Corporation owns Hanmi Bank, which serves multi-ethnic
communities through its network of 39 full-service branches and 6
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.
Contact:
Richard PimentelCorporate Finance Officer213-427-3191
Lasse GlassenAddo Investor Relations310-829-5400
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