Overview

* Hanmi Q3 net income rises 45.9% to $22.1 mln, driven by higher net interest income

* Adjusted EPS for Q3 at $0.73, reflecting strong operational performance

* Company repurchased 199,698 shares at average price of $23.45

Outlook

* Company remains focused on executing strategies and optimizing balance sheet for long-term value

Result Drivers

* NET INTEREST INCOME - Q3 net interest income rose 6.9% due to increased commercial loan production and lower deposit costs

* LOAN GROWTH - Healthy loan growth driven by $571 mln in loan production, with strong commercial loan contributions

* CREDIT QUALITY IMPROVEMENT - Reduced criticized loans and nonperforming assets reflect proactive asset management

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 EPS $0.73

Q3 Net $22.06

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

* The average consensus recommendation for the banks peer group is "buy"

* Wall Street's median 12-month price target for Hanmi Financial Corp ( HAFC ) is $28.00, about 13.9% above its October 20 closing price of $24.10

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

Press Release:

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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.)