Hanmi Financial Q2 net income rises on deposit growth, lower credit loss

Overview

• U.S. commercial lender's Q2 net income and EPS rose from prior quarter

• Company's deposits grew 2.3% sequentially, with noninterest-bearing deposits up 5.2%

• Hanmi returned 58% of Q2 net earnings to shareholders via dividends and buybacks

Outlook

• Company says it remains optimistic about outlook for second half of 2026

Result Drivers

• NET INTEREST INCOME - Modest increase in net interest income driven by higher interest income on loans and securities, and a lower cost of interest-bearing deposits

• CREDIT LOSS EXPENSE - Lower credit loss expense due to reduced net charge-offs

• NONINTEREST INCOME - Decrease in noninterest income mainly from lower gains on SBA loan sales, partly offset by higher trade finance and service fees

Company press release: ID:nGNX57GFMt

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the banks peer group is "hold"

• Wall Street's median 12-month price target for Hanmi Financial Corp is $33.00, about 2.5% above its July 20 closing price of $32.19

• The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads

• July 21 - OFG Bancorp Q2 EPS rises on loan growth, deposit strength

• July 21 - KeyCorp quarterly profit rises on interest income strength

• July 20 - Wintrust Q2 net interest income rises on growth in average earning assets

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)