Hanmi Bank rises from Koreatown lender to regional bank

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The story "Hanmi Bank rises from Koreatown lender to regional bank" was covered 1 weeks ago by Korea Economic Daily, a news publisher based in South Korea.

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Hanmi Bank rises from Koreatown lender to regional bank - Korea Economic Daily

Quick Summary:

SOLID EARNINGSHanmi Financial’s net income edged up to $14.9 million in the third quarter, compared with $14.5 million in the prior three months.“These results reflect the continued success of our relationship banking model and our portfolio diversification strategy,” said Bonnie Lee, CEO of Hanmi, in a third-quarter earnings report in October.

OUTPERFORMING A LARGER RIVALDespite its smaller assets and earnings, Hanmi Financial outperformed Hope Bancorp in terms of both net interest margin (NIM) and share price in the third quarter.

Today, Hanmi Bank, under Nasdaq-listed Hanmi Financial Corp., has grown into one of the US' top 10 Asian American-owned banks, symbolizing the rising influence of the Korean community in the world's largest economy.