Hanmi Financial Corporation operates as the bank holding company for Hanmi Bank, a state-chartered commercial bank established in 1982 to serve the Korean-American community in Los Angeles. Today, the company provides a broad range of conventional business banking products and services to multi-ethnic communities and small-to-medium-sized enterprises (SMEs).
The company's business model is centered on traditional community banking, generating revenue primarily through net interest income from its loan and lease portfolio, supplemented by non-interest income from service charges, fees, and sales of SBA loans. Hanmi's lending activities are heavily focused on commercial real estate (CRE) loans, which make up the vast majority of its portfolio (approximately 78% as of late 2024), alongside commercial and industrial (C&I) loans, equipment lease financing, and SBA loans. The bank funds these loans primarily through a mix of noninterest-bearing demand deposits, money market accounts, savings, and time deposits gathered from its retail and commercial customer base.
Geographically, Hanmi Bank operates a network of over 30 full-service branches and several loan production offices across California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington, and Georgia. While its footprint has expanded nationally, its core operations and largest market share remain concentrated in California. The bank's competitive position is anchored in its relationship-based banking approach and deep cultural ties to the Korean-American and other diverse communities, allowing it to effectively compete against larger national banks by offering highly personalized service and specialized trade finance solutions.
