Hanmi Financial Corporation · NASDAQ:HAFC
Hanmi Financial — KBW Investor Conference 2025
50 slides from Hanmi Financial's conference presentation, November 2025
Slide 1: KBW Investor Conference
NASDAQ | HAFC KBW Investor Conference November 2025 California | Colorado | Georgia | Illinois | New Jersey | New York | Texas | Virginia | Washington
Slide 2: Table of Contents
HANMI PROFILE 5 – 20 TABLE OF 3Q25 PERFORMANCE RESULTS 21 – 37 CONTENTS LOAN PORTFOLIO DETAILS 38 – 47 3Q25 FINANCIAL SUMMARY 48 – 48 NON-GAAP RECONCILIATION 49 – 50 2
Slide 3: Forward-Looking Statements
FORWARD -LOOKING STATEMENTS Hanmi Financial Corporation (the “Company”) cautions investors that any statements contained herein that are not historical facts are forward- looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, in
Slide 4: Non-GAAP Financial Information
NON-GAAP FINANCIAL INFORMATION This presentation contains financial information determined by methods other than in accordance with accounting principles generally accepted in the United States of America (“GAAP”). These non-GAAP measures include tangible common equity to tangible assets, tangible c
Slide 5: Nationwide Network Investment Highlights
NATIONWIDE NETWORK 1 2 1 INVESTMENT 3 HIGHLIGHTS As of September 30, 2025 1 20 2 1 1 1 1 Branch $7.9B $6.5B TOTAL ASSETS LOANS 5 1 Loan Production Office (LPO) $6.8B 10% DEPOSITS LOAN GROWTH(1) Experienced Second Largest Korean-American Bank in the U.S. Founded in 1982 in Los Angeles, as the first K
Slide 6: Management Team
MANAGEMENT TEAM Bonnie Lee Romolo Santarosa Anthony Kim Matthew Fuhr Larsen Lee President & CEO SEVP, Chief Financial Officer SEVP, Chief Banking Officer EVP, Chief Credit Officer EVP, Head of Consumer Lending With 39 years of banking experience and With 34 years of banking experience and With 31 ye
Slide 7: The Hanmi Timeline
THE HANMI TIMELINE For over 40 years, we have been dedicated to helping our stakeholders bank on their dreams. 1982 1988 2001 2004 • First Korean American • Began offering SBA loans • Listed HAFC common • Acquired Pacific Union Bank in the U.S. stock Bank • Acquired First Global Bank ($1.2 billion i
Slide 8: Why Hanmi?
WHY HANMI? • Strong 10% CAGR in average loans since • Strong 9% CAGR in average deposits since 2013 2013 • Average noninterest-bearing deposits of Premier Diversified • Significant progress diversifying loan $1.93 billion represent 30% of average deposits Deposit Loan portfolio across CRE, equipment
Slide 9: Successful Portfolio Diversification Strategy
S U C C E S S F U L P O R T F O LI O D I V E R S I F I C A T I O N S T R A T E G Y Significant progress reducing CRE concentration from 85% of total portfolio to 62% Loan Composition Loan Composition (as of December 31, 2013) (as of September 30, 2025) $2.23 Billion $6.53 Billion (1) RRE RRE (1) C&I
Slide 10: Average Loan Trend
AVERAGE LOAN TREND Strong average loan growth reflecting a 10% CAGR since 2013 $6,111 $6,251 $5,968 $5,597 $4,685 $4,795 $4,456 $4,508 $4,039 $3,423 $2,902 $2,441 ($ in millions) $2,157 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q25 YTD 10
Slide 11: Average Deposit Trend
AVERAGE DEPOSIT TREND Strong deposit growth reflecting a 9% CAGR since 2013. Average noninterest-bearing deposits have grown by 9% CAGR since 2013 and now represents 30% of total deposits. $6,529 $6,191 $6,308 $5,950 $5,560 $4,946 $4,691 $4,461 $4,160 55% 65% 70% $3,503 $3,608 59% 70% $2,872 66% ($
Slide 12: Net Income Trend
NET INCOME TREND A track record of steady earnings growth at 8% CAGR between 2013-18 as the interest rate environment remained relatively steady. 2020-22 net income reflected the effect of the pandemic and the gradual receding from its uncertainties ending in 2022 with $101 million in net income. 20
Slide 13: Net Interest Income & NIM Trend
NET INTEREST INCOME & NIM TREND NIM 3.94% 3.88% 3.90% 3.95% 3.82% 3.57% 3.37% 3.50% 3.19% 3.08% 3.08% 3.11% 2.78% $238 $221 Net Interest Income ($ in millions) $203 $195 $177 $181 $176 $181 $173 $160 $148 $123 $109 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q25 YTD 13
Slide 14: Noninterest Income Trend
NONINTEREST INCOME TREND NII / Average Assets 1.24% 1.17% 0.99% 0.76% 0.67% 0.73% 0.50% 0.62% 0.46% 0.49% 0.46% 0.42% 0.45% Noninterest Income ($ in millions) $48 $42 $43 18% $40 8% 12% $33 $33 $34 $34 $32 $28 $28 43% 17% 5% 18% 26% 28% $26 $25 19% 29% 19% 5% 20% 23% 92% 82% 88% 82% 83% 74% 81% 57%
Slide 15: Noninterest Expense Trend
NONINTEREST EXPENSE TREND NIE / Average Assets 2.77% 2.89% 2.83% 2.47% 2.30% 2.19% 2.30% 2.02% 1.90% 1.87% 1.89% 1.85% 1.84% Non-Interest Expense ($ in millions) $141 $137 $130 $126 $124 $115 $118 $119 $114 $108 $109 $99 $78 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q25 YTD 15
Slide 16: Allowance for Credit Losses Trend
ALLOWANCE FOR CREDIT LOSSES TREND ACL / Total Loans 2.58% 1.89% 1.85% 1.35% 1.33% 1.41% 1.20% 1.12% 1.12% 1.07% 0.84% 0.72% 0.70% $90 $73 $72 Allowance for Credit Losses ($ in millions) $69 $70 $70 $61 $58 $53 $43 $32 $31 $32 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 3Q25 16
Slide 17: Nonperforming Assets Trend
NONPERFORMING ASSETS TREND Nonperforming Assets / Total Assets NPAs/Total Assets 1.38% 1.15% 0.87% 0.97% 0.65% 0.40% 0.34% 0.29% 0.27% 0.20% 0.14% 0.21% 0.19% $2.4 $0.1 Nonperforming Assets ($ in millions) $83.0 $15.8 $63.8 $0.8 $8.5 $2.0 $7.5 $1.9 $0.7 $0.1 $25.9 $25.3 $0.7 $0.1 $19.1 $0.1 $15.5 $1
Slide 18: Net Charge Offs (Recoveries) Trend
NET CHARGE OFFS (RECOVERIES) TREND Net Charge-offs (Recoveries) / Average Loans 0.66% 0.29% 0.18% 0.27% 0.05% 0.07% 0.02% 0.02% 0.12% 0.07% -0.06% -0.07% -0.13% $30.9 $26.4 Net charge offs (recoveries) ($ in millions) $12.8 $6.3 $6.2 $7.0 $4.1 $6.9 $2.2 $3.1 $6.3 $0.7 $1.4 $7.2 $7.7 $6.2 $0.8 $4.5 $
Slide 19: Risk Management
RISK MANAGEMENT CRE Concentration Liquidity Stress Test Capital Stress Test Hanmi has not exceeded the supervisory criteria to be Hanmi’s risk management practices include Hanmi is not required to perform a capital stress test; considered to have CRE concentration risk under comprehensive contingenc
Slide 20: Corporate Governance
CORPORATE GOVERNANCE Governance and management of environmental and social Our Board impact create long-term value for our stakeholders. The NCG Committee believes the Board should encompass a broad range of talent, skill, knowledge, experience, diversity, and expertise. Our board is currently compr
Slide 21: 3Q25 Highlights
3Q25 HIGHLIGHTS Earnings Performance • Third quarter net income was $22.1 million, or $0.73 per diluted share, compared with $15.1 million, or $0.50 per diluted share in the second quarter, driven by an increase in net interest income and a decrease in credit loss expense. • Preprovision net revenue
Slide 22: Loan Production
LOAN PRODUCTION New Production and Weighted Average Coupon ($ in millions) Loan production of $570.8 million in the third quarter included a meaningful contribution from 7.92% commercial and industrial production, which increased 7.37% 7.35% 7.10% 6.91% 296% to $211.5 million quarter-over-quarter. $
Slide 23: Loan Portfolio
LOAN PORTFOLIO Outstanding ($ in millions) 3Q25 Average Yield Commercial Real Estate $6.53 Billion Loan Portfolio $4,015 5.74% (as of September 30, 2025) (CRE)(1,2) Portfolio Residential Real Estate (RRE)(3) Portfolio $1,044 5.38% Equipment Commercial & Industrial C&I Finance (C&I)(1) Portfolio $1,0
Slide 24: Deposit Portfolio
DEPOSIT PORTFOLIO $3,728 $3,039 Total deposits increased 0.6% to $6.77 billion, led Deposits by a $58.0 million, or 2.4%, increase in time as of 3Q25 55% 45% deposits, quarter-over-quarter. ($ in millions) Noninterest-bearing demand deposits represented 30.8% of total Business Personal deposits at S
Slide 25: Net Interest Income | Net Interest Margin
NET INTEREST INCOME | NET INTEREST MARGIN Net Interest Margin Net interest income for the third quarter was $61.1 million and net interest margin (taxable equivalent) was 3.22%, both up from the second quarter. (1) 0.01% 3.22% 0.04% 0.04% (1) 3.02% 3.07% 2.91% 0.06% 2.74% (1) 3.21% 3.22% (1) 3.17% (
Slide 26: Net Interest Income Sensitivity
NET INTEREST INCOME SENSITIVITY Loan & Deposit Beta(1) Fed Funds Rate & Cost of CDs 5.00% Fed 4.55% 4.50% 4.50% 4.25% Funds Loan Cost of Rate(3) 6.05% 5.91% 6.02% 6.00% 6.04% 5.95% 5.90% 5.93% 5.99% 5.95% CDs(2) 4.79% 4.50% 4.17% 4.05% 3.97% 5.73% Yield 5.50% 5.50% Fed 3Q24 4Q24 1Q25 2Q25 3Q25 Funds
Slide 27: Noninterest Income
NONINTEREST INCOME 3Q25 Service Charges, Fees & Other（$ in million） Noninterest income for the third quarter was $9.9 million, up 22% from the second quarter, primarily Service charges on deposit accounts because of $1.2 million gains on sale of mortgage 12% $0.8 32% loans and a $0.5 million increas
Slide 28: Noninterest Expense
NONINTEREST EXPENSE Noninterest expense was $37.4 million for the third quarter, up 3% from the second quarter, primarily due to the gain on OREO asset in the second quarter. 1.85% 1.86% 1.89% 1.90% Noninterest expense / 1.82% Average assets $36.3 $37.4 $35.1 $34.5 $35.0 $4.5 (1) $4.8 $4.4 $3.9 (1)
Slide 29: Asset Quality – Delinquent & Criticized Loans
ASSET QUALITY – DELINQUENT & CRITICIZED LOANS Criticized Loans(2)（$ in millions） 2.56% 2.64% 2.62% Criticized loans improved by $1.2 million in the third quarter. Criticized loans / 0.74% 0.69% Total loans $160.0 $165.3 $164.9 Delinquent Loans(1)（$ in millions） 0.30% Delinquent 0.28% 0.24% loans / (
Slide 30: Asset Quality – Nonperforming Assets & Nonaccrual Loans
ASSET QUALITY – NONPERFORMING ASSETS & NONACCRUAL LOANS Nonperforming assets were $21.4 million at the end of the third quarter, down from $26.0 million Nonaccrual Loans（$ in millions） at the end of the second quarter. (2) $35.5 Nonperforming Assets(1)（$ in millions） Nonperforming 0.46% 0.33% 0.27%
Slide 31: Asset Quality – Gross & Net Loan Charge-offs
ASSET QUALITY – GROSS & NET LOAN CHARGE -OFFS Net recoveries for the third quarter were Net Charge-offs (Recoveries)（$ in millions） $482 thousand. 0.73% Net Charge-offs / 0.06% 0.13% Gross Charge-offs（$ in millions） -0.01% -0.03% Average loans $12.4 $11.4 (2) (2) $9.4 $9.0 $0.9 $1.9 $3.8 $3.4 $3.2 $
Slide 32: ACL Trend
ACL TREND Allowance for credit losses was $69.8 million at September 30, 2025, or 1.07% to total loans, Credit Loss Expense（$ in millions） compared with $66.8 million, or 1.06% of total loans, at the end of the prior quarter. $7.6 Allowance for Credit Losses（$ in millions） 1.11% 1.12% 1.12% 1.06% 1.
Slide 33: ACL Analysis by Loan Type
ACL ANALYSIS BY LOAN TYPE ($ in millions) September 30, 2025 June 30, 2025 March 31, 2025 December 31, 2024 September 30, 2024 Allowance Loans Allowance Loans Allowance Loans Allowance Loans Allowance Loans CRE $ 40.2 $ 4,015.3 $ 37.5 $ 3,948.9 $ 41.4 $ 3,975.7 $ 39.3 $ 3,949.6 $ 37.8 $ 3,932.1 C&I
Slide 34: Securities Portfolio
SECURITIES PORTFOLIO Available for Sale(1) Unrealized Loss The $972.4 million securities $972 Million $68 Million US Agy portfolio (all AFS, no HTM) represented Municipal 12% 3% US Agy CMO 12% of assets at September 30, 2025 Municipal US Agy CMO 7% UST 14% US Agy 7% and had a weighted average modifi
Slide 35: Liquidity
LIQUIDITY Cash & Securities at Company-only （$ in millions） The Bank and the Company have ample liquidity Balance resources at September 30, 2025. Cash $ 6 Securities (AFS) 44 $ 50 Liquidity Position（$ in millions） Liquidity Ratios Balance % of Assets Liquid Assets to Total Assets Liquid Assets to D
Slide 36: Capital Management
CAPITAL MANAGEMENT Dividend, Share Repurchase & TCE/TA(1)（$ in millions） Prudent capital management while driving shareholder return through stable quarterly dividends 9.80% and share repurchase program. Tangible book value 9.59% 9.58% TCE / TA(1) 9.42% 9.41% per share (TBVPS)(1) increased to $25.64
Slide 37: Regulatory Capital
REGULATORY CAPITAL The Company exceeds regulatory minimums and the Bank remains well capitalized at September 30, 2025. Company Bank CET1 CET1 4.50% 2.50% 7.00% 6.50% Capital Capital 12.00% 13.20% 11.30% 12.50% Tier 1 Tier 1 6.00% 2.50% 8.50% 8.00% Capital Capital 12.33% 13.20% 11.63% 12.50% Total T
Slide 38: USKC Loans & Deposits
USKC (1) LOANS & DEPOSITS USKC Loans – Top 10 Industries (as of 3Q25) Auto Part Manufacturing USKC portfolio represented $910.2 million, or 14% 29% RE Investment 26% of the loan portfolio, and $1.04 billion, or 15% of Hotel 18% the deposit portfolio. Food 5% Polyester Manufacturing 4% USKC CRE portf
Slide 39: Loan Portfolio Maturities
LOAN PORTFOLIO MATURITIES ($ in millions) <1 Year 1-3 Years >3 Years Total Real Estate Loans Retail $ 208.2 $ 309.1 $ 589.1 $ 1,106.4 Hospitality 101.3 363.4 358.4 823.1 Office 236.6 237.8 58.6 533.0 Other 404.5 463.8 614.5 1,482.8 Commercial Property $ 950.5 $ 1,374.2 $ 1,620.6 $ 3,945.3 Constructi
Slide 40: Loan Portfolio Distribution
LOAN PORTFOLIO DISTRIBUTION Residential Real CRE C&I Estate & Equipment Finance Owner Non-owner Lines of Residential Equipment ($ in millions) Multifamily Construction(1) Term(2) Occupied Occupied Credit(2) Real Estate Finance Total Balance $847 $2,658 $440 $70 $550 $502 $1,044 $417 Average $1.19 $3
Slide 41: Loan Portfolio Diversification
LOAN PORTFOLIO DIVERSIFICATION • CRE(1) represents 62% of the total portfolio • C&I(2) represents 16% of the total portfolio. Gas Station Mixed Use Construction 5% 3% 2% Other 7% CRE Portfolio(1) Multifamily C&I Portfolio(2) Manufacturing 10% Other 30% $4,015M Industrial Retail $1,052M 37% 12% 28% F
Slide 42: CRE Portfolio Geographical Exposure
CRE PORTFOLIO GEOGRAPHICAL Multifamily by State $440 Construction by State $70 EXPOSURE Illinois $12 Other $14 3% Other 3% $15 ($ in millions) New York 22% $79 California 18% New York $235 $17 California 53% CRE Composition by State Texas $100 24% $38 54% $4,015 23% Illinois Other $100 $661 3% 16% O
Slide 43: Office Loan Portfolio
OFFICE LOAN PORTFOLIO Portfolio by State The CRE office portfolio(1) was $533.0 million(2) at 2% September 30, 2025, representing 8% of the total loan 1% portfolio. 13% 81% Remaining = 3% $4.4M 2.02x 54.6% Average balance of the portfolio Weighted average debt Weighted average coverage ratio(3) of t
Slide 44: Hospitality Segment
HOSPITALITY SEGMENT Hospitality segment represented $823.0 million(1), Hospitality by Type or 13% of the total loan portfolio and 20% of the Convention Center total CRE portfolio, at September 30, 2025. Airport 2% 5% Resort 7% (2) $4.5M 2.08x 52.5% Destination / Suburban (3) Metropolitan (3) Average
Slide 45: Retail Segment
RETAIL SEGMENT Retail segment represents $1.11 billion(1), or 17% Percentage of Portfolio of the total loan portfolio and 28% of the total CRE portfolio at September 30, 2025. Illinois 2% Other Georgia 3% 12% (2) Texas 12% $1.6M 2.01x 45.8% California 71% Average balance of the (3) Weighted average
Slide 46: Residential Real Estate Portfolio
RESIDENTIAL REAL ESTATE PORTFOLIO The RRE(1) portfolio was $1.04 billion at September Percentage of Portfolio 30, 2025, representing 16% of the total loan portfolio. Jumbo QM Non-QM 2% (2) Our conservative underwriting policy focuses on high-quality mortgage originations with maximum Loan-to-Value (
Slide 47: Equipment Finance Portfolio
EQUIPMENT FINANCE PORTFOLIO Portfolio by Equipment 30% 27% Equipment finance portfolio represented $416.9 million, or 6% of the loan portfolio, at September 30, 2025 7% 7% 7% 5% 5% 4% 4% 4% Portfolio by Industry Hospitality 3% Other Services Other 12% (1) Portfolio by State 4% Transportation 21% Who
Slide 48: 3Q25 Financial Summary
3Q25 FINANCIAL SUMMARY (1) Change ($ in millions, except EPS) September 30, 2025 June 30, 2025 September 30, 2024 Q/Q Y/Y Income Statement Summary Net interest income before credit loss $ 61.1 $ 57.1 $ 50.1 6.9% 22.0% Noninterest income 9.9 8.1 8.4 22.4% 17.1% Operating revenue 71.0 65.2 58.5 8.8% 2
Slide 49: Non-GAAP Reconciliation: Tangible Common Equity to Tangible Asset Ratio
NON-GAAP RECONCILIATION: T A N G I BLE CO M M O N E Q U I T Y T O T A N G I BLE A S S E T R A T I O (In thousands, except share, per share data and ratios) September 30, June 30, March 31, December 31, September 30, Hanmi Financial Corporation 2025 2025 2025 2024 2024 Assets $ 7,856,731 $ 7,862,363
Slide 50: Non-GAAP Reconciliation: Pro Forma Regulatory Capital
NON-GAAP RECONCILIATION: P R O FO R MA R E G U L A T O R Y C A P I T A L ($ in thousands) Company(1) Bank(1) Common Total Common Total Equity Tier 1 Tier 1 Risk-based Equity Tier 1 Tier 1 Risk-based Regulatory capital $ 804,474 $ 826,096 $ 1,008,479 $ 884,694 $ 884,694 $ 957,077 Unrealized loss on A