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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Hanmi Financial Corporation | NASDAQ:HAFC | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.10 | -0.63% | 15.80 | 14.95 | 16.23 | 16.00 | 15.7284 | 15.85 | 145,880 | 22:28:45 |
|
|
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x
|
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
¨
|
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|
Delaware
|
|
95-4788120
|
(State or Other Jurisdiction of
Incorporation or Organization)
|
|
(I.R.S. Employer
Identification No.)
|
|
|
|
3660 Wilshire Boulevard, Penthouse Suite A
Los Angeles, California
|
|
90010
|
(Address of Principal Executive Offices)
|
|
(Zip Code)
|
Large Accelerated Filer
|
|
x
|
Accelerated Filer
|
¨
|
Non-Accelerated Filer
|
|
¨
(Do Not Check if a Smaller Reporting Company)
|
Smaller Reporting Company
|
¨
|
|
|
|
Emerging Growth Company
|
¨
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|
|
Item 1.
|
||
|
||
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|
|
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|
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Item 2.
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||
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Item 3.
|
||
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|
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Item 4.
|
||
|
||
Item 1.
|
||
|
|
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Item 1A.
|
||
|
|
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Item 2.
|
||
|
|
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Item 3.
|
||
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|
|
Item 4.
|
||
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|
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Item 5.
|
||
|
|
|
Item 6.
|
||
|
|
|
|
(Unaudited) March 31, 2017
|
|
December 31, 2016
|
||||
Assets
|
|
|
|
||||
Cash and due from banks
|
$
|
138,592
|
|
|
$
|
147,235
|
|
Securities available for sale, at fair value (amortized cost of $550,748 as of March 31, 2017 and $521,053 as of December 31, 2016)
|
548,010
|
|
|
516,964
|
|
||
Loans held for sale, at the lower of cost or fair value
|
8,849
|
|
|
9,316
|
|
||
Loans and leases receivable, net of allowance for loan and lease losses of $33,152 as of March 31, 2017 and $32,429 as of December 31, 2016
|
3,910,799
|
|
|
3,812,340
|
|
||
Accrued interest receivable
|
10,774
|
|
|
10,987
|
|
||
Premises and equipment, net
|
28,350
|
|
|
28,698
|
|
||
Other real estate owned ("OREO"), net
|
4,636
|
|
|
7,484
|
|
||
Customers’ liability on acceptances
|
932
|
|
|
978
|
|
||
Servicing assets
|
10,609
|
|
|
10,564
|
|
||
Goodwill and other intangible assets, net
|
12,797
|
|
|
12,889
|
|
||
Federal Home Loan Bank ("FHLB") stock, at cost
|
16,385
|
|
|
16,385
|
|
||
Income tax asset, net
|
40,049
|
|
|
48,047
|
|
||
Bank-owned life insurance
|
49,722
|
|
|
49,440
|
|
||
Prepaid expenses and other assets
|
31,317
|
|
|
30,019
|
|
||
Total assets
|
$
|
4,811,821
|
|
|
$
|
4,701,346
|
|
Liabilities and stockholders’ equity
|
|
|
|
||||
Liabilities:
|
|
|
|
||||
Deposits:
|
|
|
|
||||
Noninterest-bearing
|
$
|
1,241,272
|
|
|
$
|
1,203,240
|
|
Interest-bearing
|
2,841,893
|
|
|
2,606,497
|
|
||
Total deposits
|
4,083,165
|
|
|
3,809,737
|
|
||
Accrued interest payable
|
2,619
|
|
|
2,567
|
|
||
Bank’s liability on acceptances
|
932
|
|
|
978
|
|
||
FHLB advances
|
50,000
|
|
|
315,000
|
|
||
Subordinated debentures
|
116,795
|
|
|
18,978
|
|
||
Accrued expenses and other liabilities
|
18,768
|
|
|
23,061
|
|
||
Total liabilities
|
4,272,279
|
|
|
4,170,321
|
|
||
Stockholders’ equity:
|
|
|
|
||||
Common stock, $0.001 par value; authorized 62,500,000 shares; issued 33,028,608 shares (32,392,580 shares outstanding) as of March 31, 2017 and issued 32,946,197
shares (32,330,747 shares outstanding) as of December 31, 2016
|
33
|
|
|
33
|
|
||
Additional paid-in capital
|
563,151
|
|
|
562,446
|
|
||
Accumulated other comprehensive income (loss), net of tax benefit of $1,135 as of March 31, 2017 and $1,695 as of December 31, 2016
|
(1,603
|
)
|
|
(2,394
|
)
|
||
Retained earnings
|
49,395
|
|
|
41,726
|
|
||
Less: treasury stock, at cost; 636,028 shares as of March 31, 2017 and 615,450 shares as of December 31, 2016
|
(71,434
|
)
|
|
(70,786
|
)
|
||
Total stockholders’ equity
|
539,542
|
|
|
531,025
|
|
||
Total liabilities and stockholders’ equity
|
$
|
4,811,821
|
|
|
$
|
4,701,346
|
|
|
Three Months Ended March 31,
|
||||||
|
2017
|
|
2016
|
||||
Interest and dividend income:
|
|
|
|
||||
Interest and fees on loans and leases
|
$
|
45,378
|
|
|
$
|
39,067
|
|
Interest on securities
|
2,520
|
|
|
3,017
|
|
||
Dividends on Federal Reserve Bank ("FRB") and FHLB stock
|
374
|
|
|
542
|
|
||
Interest on deposits in other banks
|
77
|
|
|
48
|
|
||
Total interest and dividend income
|
48,349
|
|
|
42,674
|
|
||
Interest expense:
|
|
|
|
||||
Interest on deposits
|
5,154
|
|
|
3,727
|
|
||
Interest on FHLB advances
|
468
|
|
|
195
|
|
||
Interest on subordinated debentures
|
373
|
|
|
183
|
|
||
Total interest expense
|
5,995
|
|
|
4,105
|
|
||
Net interest income before provision for loan and lease losses
|
42,354
|
|
|
38,569
|
|
||
Loan and lease loss provision (income)
|
(80
|
)
|
|
(1,525
|
)
|
||
Net interest income after provision for loan and lease losses
|
42,434
|
|
|
40,094
|
|
||
Noninterest income:
|
|
|
|
||||
Service charges on deposit accounts
|
2,528
|
|
|
3,001
|
|
||
Trade finance and other service charges and fees
|
1,047
|
|
|
1,044
|
|
||
Gain on sales of Small Business Administration ("SBA") loans
|
1,464
|
|
|
858
|
|
||
Disposition gains on Purchased Credit Impaired ("PCI") loans
|
183
|
|
|
659
|
|
||
Net gain on sales of securities
|
269
|
|
|
—
|
|
||
Other operating income
|
1,726
|
|
|
1,399
|
|
||
Total noninterest income
|
7,217
|
|
|
6,961
|
|
||
Noninterest expense:
|
|
|
|
||||
Salaries and employee benefits
|
17,104
|
|
|
15,698
|
|
||
Occupancy and equipment
|
3,982
|
|
|
3,496
|
|
||
Data processing
|
1,631
|
|
|
1,436
|
|
||
Professional fees
|
1,148
|
|
|
1,464
|
|
||
Supplies and communications
|
635
|
|
|
736
|
|
||
Advertising and promotion
|
802
|
|
|
522
|
|
||
OREO expense (income)
|
(101
|
)
|
|
465
|
|
||
Merger and integration costs (income)
|
(31
|
)
|
|
—
|
|
||
Other operating expenses
|
2,070
|
|
|
2,251
|
|
||
Total noninterest expense
|
27,240
|
|
|
26,068
|
|
||
Income before income tax expense
|
22,411
|
|
|
20,987
|
|
||
Income tax expense
|
8,628
|
|
|
6,183
|
|
||
Net income
|
$
|
13,783
|
|
|
$
|
14,804
|
|
Basic earnings per share
|
$
|
0.43
|
|
|
$
|
0.46
|
|
Diluted earnings per share
|
$
|
0.43
|
|
|
$
|
0.46
|
|
Weighted-average shares outstanding:
|
|
|
|
||||
Basic
|
32,001,766
|
|
|
31,846,371
|
|
||
Diluted
|
32,191,458
|
|
|
31,928,103
|
|
|
Three Months Ended March 31,
|
||||||
|
2017
|
|
2016
|
||||
Net income
|
$
|
13,783
|
|
|
$
|
14,804
|
|
Other comprehensive income, net of tax:
|
|
|
|
||||
Unrealized gain on securities:
|
|
|
|
||||
Unrealized holding gain arising during period
|
1,620
|
|
|
9,723
|
|
||
Less: reclassification adjustment for net gain included in net income
|
(269
|
)
|
|
—
|
|
||
Income tax expense related to items of other comprehensive income
|
(560
|
)
|
|
(4,044
|
)
|
||
Other comprehensive income, net of tax
|
791
|
|
|
5,679
|
|
||
Comprehensive income
|
$
|
14,574
|
|
|
$
|
20,483
|
|
|
Common Stock - Number of Shares
|
|
Stockholders’ Equity
|
|||||||||||||||||||||||||||||
|
Shares Issued
|
|
Treasury Shares
|
|
Shares Outstanding
|
|
Common Stock
|
|
Additional Paid-in Capital
|
|
Accumulated Other Comprehensive Income (Loss)
|
|
Retained Earnings
|
|
Treasury Stock, at Cost
|
|
Total Stockholders’ Equity
|
|||||||||||||||
Balance at January 1, 2016
|
32,566,522
|
|
|
(592,163
|
)
|
|
31,974,359
|
|
|
$
|
257
|
|
|
$
|
557,761
|
|
|
$
|
(315
|
)
|
|
$
|
6,422
|
|
|
$
|
(70,207
|
)
|
|
$
|
493,918
|
|
Correction of accounting for the 2011 1-for-8 stock split
|
—
|
|
|
—
|
|
|
—
|
|
|
(224
|
)
|
|
224
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Stock options exercised
|
22,209
|
|
|
—
|
|
|
22,209
|
|
|
—
|
|
|
341
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
341
|
|
||||||
Restricted stock awards, net of forfeitures
|
253,764
|
|
|
—
|
|
|
253,764
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Share-based compensation expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
619
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
619
|
|
||||||
Restricted stock surrendered due to employee tax liability
|
—
|
|
|
(820
|
)
|
|
(820
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(17
|
)
|
|
(17
|
)
|
||||||
Cash dividends declared
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(4,484
|
)
|
|
—
|
|
|
(4,484
|
)
|
||||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
14,804
|
|
|
—
|
|
|
14,804
|
|
||||||
Change in unrealized gain (loss) on securities available for sale, net of income taxes
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
5,679
|
|
|
—
|
|
|
—
|
|
|
5,679
|
|
||||||
Balance at March 31, 2016
|
32,842,495
|
|
|
(592,983
|
)
|
|
32,249,512
|
|
|
$
|
33
|
|
|
$
|
558,945
|
|
|
$
|
5,364
|
|
|
$
|
16,742
|
|
|
$
|
(70,224
|
)
|
|
$
|
510,860
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Balance at January 1, 2017
|
32,946,197
|
|
|
(615,450
|
)
|
|
32,330,747
|
|
|
$
|
33
|
|
|
$
|
562,446
|
|
|
$
|
(2,394
|
)
|
|
$
|
41,726
|
|
|
$
|
(70,786
|
)
|
|
$
|
531,025
|
|
Stock options exercised
|
1,000
|
|
|
—
|
|
|
1,000
|
|
|
—
|
|
|
13
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
13
|
|
||||||
Restricted stock awards, net of forfeitures
|
81,411
|
|
|
—
|
|
|
81,411
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Share-based compensation expense
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
692
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
692
|
|
||||||
Restricted stock surrendered due to employee tax liability
|
—
|
|
|
(20,578
|
)
|
|
(20,578
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(648
|
)
|
|
(648
|
)
|
||||||
Cash dividends declared
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(6,114
|
)
|
|
—
|
|
|
(6,114
|
)
|
||||||
Net income
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
13,783
|
|
|
—
|
|
|
13,783
|
|
||||||
Change in unrealized gain (loss) on securities available for sale, net of income taxes
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
791
|
|
|
—
|
|
|
—
|
|
|
791
|
|
||||||
Balance at March 31, 2017
|
33,028,608
|
|
|
(636,028
|
)
|
|
32,392,580
|
|
|
$
|
33
|
|
|
$
|
563,151
|
|
|
$
|
(1,603
|
)
|
|
$
|
49,395
|
|
|
$
|
(71,434
|
)
|
|
$
|
539,542
|
|
|
Amortized Cost
|
|
Gross Unrealized Gain
|
|
Gross Unrealized Loss
|
|
Estimated Fair Value
|
||||||||
|
(in thousands)
|
||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
||||||||
Mortgage-backed securities
(1) (2)
|
$
|
262,713
|
|
|
$
|
862
|
|
|
$
|
1,480
|
|
|
$
|
262,095
|
|
Collateralized mortgage obligations
(1)
|
87,855
|
|
|
13
|
|
|
940
|
|
|
86,928
|
|
||||
U.S. government agency securities
|
7,499
|
|
|
—
|
|
|
53
|
|
|
7,446
|
|
||||
SBA loan pool securities
|
4,354
|
|
|
—
|
|
|
191
|
|
|
4,163
|
|
||||
Municipal bonds-tax exempt
|
159,203
|
|
|
431
|
|
|
860
|
|
|
158,774
|
|
||||
Municipal bonds-taxable
|
1,045
|
|
|
—
|
|
|
8
|
|
|
1,037
|
|
||||
Corporate bonds
|
5,008
|
|
|
14
|
|
|
|
|
|
5,022
|
|
||||
U.S. treasury securities
|
155
|
|
|
—
|
|
|
|
|
155
|
|
|||||
Mutual funds
|
22,916
|
|
|
—
|
|
|
526
|
|
|
22,390
|
|
||||
Total securities available for sale
|
$
|
550,748
|
|
|
$
|
1,320
|
|
|
$
|
4,058
|
|
|
$
|
548,010
|
|
|
|
|
|
|
|
|
|
||||||||
December 31, 2016
|
|
|
|
|
|
|
|
||||||||
Mortgage-backed securities
(1) (2)
|
$
|
230,489
|
|
|
$
|
598
|
|
|
$
|
1,457
|
|
|
$
|
229,630
|
|
Collateralized mortgage obligations
(1)
|
77,447
|
|
|
6
|
|
|
1,002
|
|
|
76,451
|
|
||||
U.S. government agency securities
|
7,499
|
|
|
—
|
|
|
58
|
|
|
7,441
|
|
||||
SBA loan pool securities
|
4,356
|
|
|
—
|
|
|
210
|
|
|
4,146
|
|
||||
Municipal bonds-tax exempt
|
159,789
|
|
|
236
|
|
|
1,995
|
|
|
158,030
|
|
||||
Municipal bonds-taxable
|
13,391
|
|
|
319
|
|
|
9
|
|
|
13,701
|
|
||||
Corporate bonds
|
5,010
|
|
|
5
|
|
|
—
|
|
|
5,015
|
|
||||
U.S. treasury securities
|
156
|
|
|
—
|
|
|
—
|
|
|
156
|
|
||||
Mutual funds
|
22,916
|
|
|
—
|
|
|
522
|
|
|
22,394
|
|
||||
Total securities available for sale
|
$
|
521,053
|
|
|
$
|
1,164
|
|
|
$
|
5,253
|
|
|
$
|
516,964
|
|
(1)
|
Collateralized by residential mortgages and guaranteed by U.S. government sponsored entities.
|
(2)
|
Includes securities collateralized by home equity conversion mortgages with total estimated fair value of
$50.5 million
and
$52.9 million
as of
March 31, 2017
and
December 31, 2016
, respectively.
|
|
Available for Sale
|
||||||
|
Amortized Cost
|
|
Estimated Fair Value
|
||||
|
(in thousands)
|
||||||
Within one year
|
$
|
5,485
|
|
|
$
|
5,443
|
|
Over one year through five years
|
64,510
|
|
|
64,393
|
|
||
Over five years through ten years
|
250,661
|
|
|
249,514
|
|
||
Over ten years
|
230,092
|
|
|
228,660
|
|
||
Total
|
$
|
550,748
|
|
|
$
|
548,010
|
|
|
Holding Period
|
|||||||||||||||||||||||||||||||
|
Less Than 12 Months
|
|
12 Months or More
|
|
Total
|
|||||||||||||||||||||||||||
|
Gross Unrealized Loss
|
|
Estimated Fair Value
|
|
Number of Securities
|
|
Gross Unrealized Loss
|
|
Estimated Fair Value
|
|
Number of Securities
|
|
Gross Unrealized Loss
|
|
Estimated Fair Value
|
|
Number of Securities
|
|||||||||||||||
|
(in thousands, except number of securities)
|
|||||||||||||||||||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Mortgage-backed securities
|
$
|
1,418
|
|
|
$
|
149,993
|
|
|
51
|
|
|
$
|
62
|
|
|
$
|
7,096
|
|
|
2
|
|
|
$
|
1,480
|
|
|
$
|
157,089
|
|
|
53
|
|
Collateralized mortgage obligations
|
557
|
|
|
61,622
|
|
|
27
|
|
|
383
|
|
|
15,888
|
|
|
9
|
|
|
940
|
|
|
77,510
|
|
|
36
|
|
||||||
U.S. government agency securities
|
53
|
|
|
7,446
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
53
|
|
|
7,446
|
|
|
3
|
|
||||||
SBA loan pool securities
|
—
|
|
|
—
|
|
|
—
|
|
|
191
|
|
|
4,163
|
|
|
2
|
|
|
191
|
|
|
4,163
|
|
|
2
|
|
||||||
Municipal bonds-tax exempt
|
860
|
|
|
104,412
|
|
|
45
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
860
|
|
|
104,412
|
|
|
45
|
|
||||||
Municipal bonds-taxable
|
8
|
|
|
1,036
|
|
|
1
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
8
|
|
|
1,036
|
|
|
1
|
|
||||||
Mutual funds
|
413
|
|
|
21,478
|
|
|
4
|
|
|
113
|
|
|
914
|
|
|
3
|
|
|
526
|
|
|
22,392
|
|
|
7
|
|
||||||
Total
|
$
|
3,309
|
|
|
$
|
345,987
|
|
|
131
|
|
|
$
|
749
|
|
|
$
|
28,061
|
|
|
16
|
|
|
$
|
4,058
|
|
|
$
|
374,048
|
|
|
147
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Mortgage-backed securities
|
$
|
1,345
|
|
|
$
|
102,647
|
|
|
38
|
|
|
$
|
112
|
|
|
$
|
11,350
|
|
|
3
|
|
|
$
|
1,457
|
|
|
$
|
113,997
|
|
|
41
|
|
Collateralized mortgage obligations
|
676
|
|
|
60,786
|
|
|
27
|
|
|
326
|
|
|
10,579
|
|
|
7
|
|
|
1,002
|
|
|
71,365
|
|
|
34
|
|
||||||
U.S. government agency securities
|
58
|
|
|
7,441
|
|
|
3
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
58
|
|
|
7,441
|
|
|
3
|
|
||||||
SBA loan pool securities
|
—
|
|
|
—
|
|
|
—
|
|
|
210
|
|
|
4,146
|
|
|
2
|
|
|
210
|
|
|
4,146
|
|
|
2
|
|
||||||
Municipal bonds-tax exempt
|
1,995
|
|
|
125,004
|
|
|
54
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,995
|
|
|
125,004
|
|
|
54
|
|
||||||
Municipal bonds-taxable
|
9
|
|
|
2,904
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
9
|
|
|
2,904
|
|
|
2
|
|
||||||
Mutual funds
|
413
|
|
|
21,478
|
|
|
4
|
|
|
109
|
|
|
916
|
|
|
3
|
|
|
522
|
|
|
22,394
|
|
|
7
|
|
||||||
Total
|
$
|
4,496
|
|
|
$
|
320,260
|
|
|
128
|
|
|
$
|
757
|
|
|
$
|
26,991
|
|
|
15
|
|
|
$
|
5,253
|
|
|
$
|
347,251
|
|
|
143
|
|
|
Three Months Ended
March 31, |
||||||
|
2017
|
|
2016
|
||||
|
(in thousands)
|
||||||
Gross realized gains on sales of securities
|
$
|
269
|
|
|
$
|
—
|
|
Gross realized losses on sales of securities
|
—
|
|
|
—
|
|
||
Net realized gains on sales of securities
|
$
|
269
|
|
|
$
|
—
|
|
Proceeds from sales of securities
|
$
|
12,573
|
|
|
$
|
—
|
|
|
March 31, 2017
|
|
December 31, 2016
|
||||||||||||||||||||
|
Non-PCI Loans and Leases
|
|
PCI Loans
|
|
Total
|
|
Non-PCI Loans and Leases
|
|
PCI Loans
|
|
Total
|
||||||||||||
|
(in thousands)
|
||||||||||||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
$
|
908,432
|
|
|
$
|
1,554
|
|
|
$
|
909,986
|
|
|
$
|
857,629
|
|
|
$
|
2,324
|
|
|
$
|
859,953
|
|
Hospitality
|
650,518
|
|
|
1,596
|
|
|
652,114
|
|
|
649,540
|
|
|
1,618
|
|
|
651,158
|
|
||||||
Gas station
|
253,437
|
|
|
2,623
|
|
|
256,060
|
|
|
260,187
|
|
|
2,692
|
|
|
262,879
|
|
||||||
Other
(1)
|
1,113,851
|
|
|
2,047
|
|
|
1,115,898
|
|
|
1,107,589
|
|
|
2,067
|
|
|
1,109,656
|
|
||||||
Construction
|
56,072
|
|
|
—
|
|
|
56,072
|
|
|
55,962
|
|
|
—
|
|
|
55,962
|
|
||||||
Residential property
|
357,775
|
|
|
970
|
|
|
358,745
|
|
|
337,791
|
|
|
976
|
|
|
338,767
|
|
||||||
Total real estate loans
|
3,340,085
|
|
|
8,790
|
|
|
3,348,875
|
|
|
3,268,698
|
|
|
9,677
|
|
|
3,278,375
|
|
||||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial term
|
135,476
|
|
|
120
|
|
|
135,596
|
|
|
138,032
|
|
|
136
|
|
|
138,168
|
|
||||||
Commercial lines of credit
|
144,279
|
|
|
—
|
|
|
144,279
|
|
|
136,231
|
|
|
—
|
|
|
136,231
|
|
||||||
International loans
|
37,807
|
|
|
—
|
|
|
37,807
|
|
|
25,821
|
|
|
—
|
|
|
25,821
|
|
||||||
Total commercial and industrial loans
|
317,562
|
|
|
120
|
|
|
317,682
|
|
|
300,084
|
|
|
136
|
|
|
300,220
|
|
||||||
Leases receivable
|
259,591
|
|
|
—
|
|
|
259,591
|
|
|
243,294
|
|
|
—
|
|
|
243,294
|
|
||||||
Consumer loans
(2)
|
17,753
|
|
|
50
|
|
|
17,803
|
|
|
22,830
|
|
|
50
|
|
|
22,880
|
|
||||||
Loans and leases receivable
|
3,934,991
|
|
|
8,960
|
|
|
3,943,951
|
|
|
3,834,906
|
|
|
9,863
|
|
|
3,844,769
|
|
||||||
Allowance for loan and lease losses
|
(32,261
|
)
|
|
(891
|
)
|
|
(33,152
|
)
|
|
(31,458
|
)
|
|
(971
|
)
|
|
(32,429
|
)
|
||||||
Loans and leases receivable, net
|
$
|
3,902,730
|
|
|
$
|
8,069
|
|
|
$
|
3,910,799
|
|
|
$
|
3,803,448
|
|
|
$
|
8,892
|
|
|
$
|
3,812,340
|
|
(1)
|
The remaining other real estate categories represent less than one percent of total loans and leases, which, among other property types, include mixed-use, apartment, office, industrial, faith-based facilities and warehouse.
|
(2)
|
Consumer loans include home equity lines of credit of
$16.1 million
and
$17.7 million
as of
March 31, 2017
and
December 31, 2016
, respectively.
|
|
SBA Loans Held for Sale
|
||||||||||
|
Real Estate
|
|
Commercial and Industrial
|
|
Total
|
||||||
|
(in thousands)
|
||||||||||
March 31, 2017
|
|
|
|
|
|
||||||
Balance at beginning of period
|
$
|
7,410
|
|
|
$
|
1,906
|
|
|
$
|
9,316
|
|
Originations
|
12,633
|
|
|
6,559
|
|
|
19,192
|
|
|||
Sales
|
(12,254
|
)
|
|
(7,389
|
)
|
|
(19,643
|
)
|
|||
Principal payoffs and amortization
|
—
|
|
|
(16
|
)
|
|
(16
|
)
|
|||
Balance at end of period
|
$
|
7,789
|
|
|
$
|
1,060
|
|
|
$
|
8,849
|
|
|
|
|
|
|
|
||||||
March 31, 2016
|
|
|
|
|
|
||||||
Balance at beginning of period
|
$
|
840
|
|
|
$
|
2,034
|
|
|
$
|
2,874
|
|
Originations
|
6,473
|
|
|
5,679
|
|
|
12,152
|
|
|||
Sales
|
(5,488
|
)
|
|
(6,935
|
)
|
|
(12,423
|
)
|
|||
Principal payoffs and amortization
|
(1
|
)
|
|
(19
|
)
|
|
(20
|
)
|
|||
Balance at end of period
|
$
|
1,824
|
|
|
$
|
759
|
|
|
$
|
2,583
|
|
|
As of and for the Three Months Ended
|
||||||||||||||||||||||
|
March 31, 2017
|
|
March 31, 2016
|
||||||||||||||||||||
|
Non-PCI Loans and Leases
|
|
PCI Loans
|
|
Total
|
|
Non-PCI Loans and Leases
|
|
PCI Loans
|
|
Total
|
||||||||||||
|
(in thousands)
|
||||||||||||||||||||||
Allowance for loan and lease losses:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Balance at beginning of period
|
$
|
31,458
|
|
|
$
|
971
|
|
|
$
|
32,429
|
|
|
$
|
37,494
|
|
|
$
|
5,441
|
|
|
$
|
42,935
|
|
Charge-offs
|
(186
|
)
|
|
—
|
|
|
(186
|
)
|
|
(637
|
)
|
|
—
|
|
|
(637
|
)
|
||||||
Recoveries on loans and leases previously charged off
|
989
|
|
|
—
|
|
|
989
|
|
|
253
|
|
|
—
|
|
|
253
|
|
||||||
Net loan and lease (charge-offs) recoveries
|
803
|
|
|
—
|
|
|
803
|
|
|
(384
|
)
|
|
—
|
|
|
(384
|
)
|
||||||
Loan and lease loss provision (income)
|
—
|
|
|
(80
|
)
|
|
(80
|
)
|
|
(1,729
|
)
|
|
204
|
|
|
(1,525
|
)
|
||||||
Balance at end of period
|
$
|
32,261
|
|
|
$
|
891
|
|
|
$
|
33,152
|
|
|
$
|
35,381
|
|
|
$
|
5,645
|
|
|
$
|
41,026
|
|
|
Real Estate
|
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer
|
|
Unallocated
|
|
Total
|
||||||||||||
|
(In thousands)
|
||||||||||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Allowance for loan and lease losses on non-PCI loans and leases:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance
|
$
|
25,212
|
|
|
$
|
5,582
|
|
|
307
|
|
|
$
|
191
|
|
|
$
|
166
|
|
|
$
|
31,458
|
|
|
Charge-offs
|
(104
|
)
|
|
(40
|
)
|
|
(42
|
)
|
|
—
|
|
|
—
|
|
|
(186
|
)
|
||||||
Recoveries on loans and leases previously charged off
|
712
|
|
|
277
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
989
|
|
||||||
Loan and lease loss provision (income)
|
(1,060
|
)
|
|
95
|
|
|
715
|
|
|
(69
|
)
|
|
319
|
|
|
—
|
|
||||||
Ending balance
|
$
|
24,760
|
|
|
$
|
5,914
|
|
|
$
|
980
|
|
|
$
|
122
|
|
|
$
|
485
|
|
|
$
|
32,261
|
|
Ending balance: individually evaluated for impairment
|
$
|
3,756
|
|
|
$
|
791
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
4,547
|
|
Ending balance: collectively evaluated for impairment
|
$
|
21,004
|
|
|
$
|
5,123
|
|
|
$
|
980
|
|
|
$
|
122
|
|
|
$
|
485
|
|
|
$
|
27,714
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Non-PCI loans and leases receivable:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Ending balance
|
$
|
3,340,085
|
|
|
$
|
317,562
|
|
|
$
|
259,591
|
|
|
$
|
17,753
|
|
|
$
|
—
|
|
|
$
|
3,934,991
|
|
Ending balance: individually evaluated for impairment
|
$
|
20,795
|
|
|
$
|
3,828
|
|
|
$
|
—
|
|
|
$
|
321
|
|
|
$
|
—
|
|
|
$
|
24,944
|
|
Ending balance: collectively evaluated for impairment
|
$
|
3,319,290
|
|
|
$
|
313,734
|
|
|
$
|
259,591
|
|
|
$
|
17,432
|
|
|
$
|
—
|
|
|
$
|
3,910,047
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Allowance for loan losses on PCI loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance
|
$
|
922
|
|
|
$
|
41
|
|
|
$
|
—
|
|
|
$
|
8
|
|
|
$
|
—
|
|
|
$
|
971
|
|
Charge-offs
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||
Loan loss provision (income)
|
(80
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(80
|
)
|
||||||
Ending balance
|
$
|
842
|
|
|
$
|
41
|
|
|
$
|
—
|
|
|
$
|
8
|
|
|
$
|
—
|
|
|
$
|
891
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
PCI loans receivable:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Ending balance: acquired with deteriorated credit quality
|
$
|
8,790
|
|
|
$
|
120
|
|
|
$
|
—
|
|
|
$
|
50
|
|
|
$
|
—
|
|
|
$
|
8,960
|
|
|
Real Estate
|
|
Commercial
and Industrial
|
|
Leases
Receivable
|
|
Consumer
|
|
Unallocated
|
|
Total
|
||||||||||||
|
(In thousands)
|
||||||||||||||||||||||
March 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Allowance for loan and lease losses on non-PCI loans and leases:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance
|
$
|
29,800
|
|
|
$
|
7,081
|
|
|
—
|
|
|
$
|
242
|
|
|
$
|
371
|
|
|
$
|
37,494
|
|
|
Charge-offs
|
(535
|
)
|
|
(102
|
)
|
|
—
|
|
|
—
|
|
|
—
|
|
|
(637
|
)
|
||||||
Recoveries on loans and leases previously charged off
|
93
|
|
|
160
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
253
|
|
||||||
Loan and lease loss provision (income)
|
(1,080
|
)
|
|
(850
|
)
|
|
—
|
|
|
13
|
|
|
188
|
|
|
(1,729
|
)
|
||||||
Ending balance
|
$
|
28,278
|
|
|
$
|
6,289
|
|
|
$
|
—
|
|
|
$
|
255
|
|
|
$
|
559
|
|
|
$
|
35,381
|
|
Ending balance: individually evaluated for impairment
|
$
|
3,334
|
|
|
$
|
759
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
4,093
|
|
Ending balance: collectively evaluated for impairment
|
$
|
24,944
|
|
|
$
|
5,530
|
|
|
$
|
—
|
|
|
$
|
255
|
|
|
$
|
559
|
|
|
$
|
31,288
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Non-PCI loans and leases receivable:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Ending balance
|
$
|
2,966,390
|
|
|
$
|
295,471
|
|
|
$
|
—
|
|
|
$
|
24,783
|
|
|
$
|
—
|
|
|
$
|
3,286,644
|
|
Ending balance: individually evaluated for impairment
|
$
|
25,595
|
|
|
$
|
6,441
|
|
|
$
|
—
|
|
|
$
|
700
|
|
|
$
|
—
|
|
|
$
|
32,736
|
|
Ending balance: collectively evaluated for impairment
|
$
|
2,940,795
|
|
|
$
|
289,030
|
|
|
$
|
—
|
|
|
$
|
24,083
|
|
|
$
|
—
|
|
|
$
|
3,253,908
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Allowance for loan losses on PCI loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Beginning balance
|
$
|
5,397
|
|
|
$
|
42
|
|
|
$
|
—
|
|
|
$
|
2
|
|
|
$
|
—
|
|
|
$
|
5,441
|
|
Loan loss provision (income)
|
202
|
|
|
2
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
204
|
|
||||||
Ending balance
|
$
|
5,599
|
|
|
$
|
44
|
|
|
$
|
—
|
|
|
$
|
2
|
|
|
$
|
—
|
|
|
$
|
5,645
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
PCI loans receivable:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Ending balance: acquired with deteriorated credit quality
|
$
|
19,625
|
|
|
$
|
161
|
|
|
$
|
—
|
|
|
$
|
49
|
|
|
$
|
—
|
|
|
$
|
19,835
|
|
|
Pass/Pass-Watch
|
|
Special Mention
|
|
Classified
|
|
Total
|
||||||||
|
(in thousands)
|
||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
||||||||
Real estate loans:
|
|
|
|
|
|
|
|
||||||||
Commercial property
|
|
|
|
|
|
|
|
||||||||
Retail
|
$
|
902,614
|
|
|
$
|
1,652
|
|
|
$
|
4,166
|
|
|
$
|
908,432
|
|
Hospitality
|
636,396
|
|
|
4,515
|
|
|
9,607
|
|
|
650,518
|
|
||||
Gas station
|
249,125
|
|
|
2,029
|
|
|
2,283
|
|
|
253,437
|
|
||||
Other
|
1,106,847
|
|
|
2,794
|
|
|
4,210
|
|
|
1,113,851
|
|
||||
Construction
|
56,072
|
|
|
—
|
|
|
—
|
|
|
56,072
|
|
||||
Residential property
|
357,543
|
|
|
—
|
|
|
232
|
|
|
357,775
|
|
||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
||||||||
Commercial term
|
131,424
|
|
|
2,130
|
|
|
1,922
|
|
|
135,476
|
|
||||
Commercial lines of credit
|
143,979
|
|
|
300
|
|
|
—
|
|
|
144,279
|
|
||||
International loans
|
37,807
|
|
|
—
|
|
|
—
|
|
|
37,807
|
|
||||
Leases receivable
|
257,947
|
|
|
—
|
|
|
1,644
|
|
|
259,591
|
|
||||
Consumer loans
|
17,292
|
|
|
—
|
|
|
461
|
|
|
17,753
|
|
||||
Total Non-PCI loans and leases
|
$
|
3,897,046
|
|
|
$
|
13,420
|
|
|
$
|
24,525
|
|
|
$
|
3,934,991
|
|
|
|
|
|
|
|
|
|
||||||||
December 31, 2016
|
|
|
|
|
|
|
|
||||||||
Real estate loans:
|
|
|
|
|
|
|
|
||||||||
Commercial property
|
|
|
|
|
|
|
|
||||||||
Retail
|
$
|
851,147
|
|
|
$
|
2,275
|
|
|
$
|
4,207
|
|
|
$
|
857,629
|
|
Hospitality
|
634,397
|
|
|
5,497
|
|
|
9,646
|
|
|
649,540
|
|
||||
Gas station
|
252,123
|
|
|
1,911
|
|
|
6,153
|
|
|
260,187
|
|
||||
Other
|
1,100,070
|
|
|
1,645
|
|
|
5,874
|
|
|
1,107,589
|
|
||||
Construction
|
55,962
|
|
|
—
|
|
|
—
|
|
|
55,962
|
|
||||
Residential property
|
337,227
|
|
|
—
|
|
|
564
|
|
|
337,791
|
|
||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
||||||||
Commercial term
|
133,811
|
|
|
2,060
|
|
|
2,161
|
|
|
138,032
|
|
||||
Commercial lines of credit
|
135,699
|
|
|
464
|
|
|
68
|
|
|
136,231
|
|
||||
International loans
|
23,406
|
|
|
2,415
|
|
|
—
|
|
|
25,821
|
|
||||
Leases receivable
|
242,393
|
|
|
—
|
|
|
901
|
|
|
243,294
|
|
||||
Consumer loans
|
22,139
|
|
|
—
|
|
|
691
|
|
|
22,830
|
|
||||
Total Non-PCI loans and leases
|
$
|
3,788,374
|
|
|
$
|
16,267
|
|
|
$
|
30,265
|
|
|
$
|
3,834,906
|
|
|
30-59 Days Past Due
|
|
60-89 Days Past Due
|
|
90 Days or More Past Due
|
|
Total Past Due
|
|
Current
|
|
Total
|
||||||||||||
|
(in thousands)
|
||||||||||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
$
|
241
|
|
|
$
|
—
|
|
|
$
|
234
|
|
|
$
|
475
|
|
|
$
|
907,957
|
|
|
$
|
908,432
|
|
Hospitality
|
4,429
|
|
|
—
|
|
|
106
|
|
|
4,535
|
|
|
645,983
|
|
|
650,518
|
|
||||||
Gas station
|
1,699
|
|
|
623
|
|
|
134
|
|
|
2,456
|
|
|
250,981
|
|
|
253,437
|
|
||||||
Other
|
891
|
|
|
—
|
|
|
352
|
|
|
1,243
|
|
|
1,112,608
|
|
|
1,113,851
|
|
||||||
Construction
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
56,072
|
|
|
56,072
|
|
||||||
Residential property
|
778
|
|
|
45
|
|
|
417
|
|
|
1,240
|
|
|
356,535
|
|
|
357,775
|
|
||||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial term
|
212
|
|
|
368
|
|
|
285
|
|
|
865
|
|
|
134,611
|
|
|
135,476
|
|
||||||
Commercial lines of credit
|
—
|
|
|
300
|
|
|
—
|
|
|
300
|
|
|
143,979
|
|
|
144,279
|
|
||||||
International loans
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
37,807
|
|
|
37,807
|
|
||||||
Leases receivable
|
1,829
|
|
|
997
|
|
|
1,435
|
|
|
4,261
|
|
|
255,330
|
|
|
259,591
|
|
||||||
Consumer loans
|
79
|
|
|
126
|
|
|
40
|
|
|
245
|
|
|
17,508
|
|
|
17,753
|
|
||||||
Total Non-PCI loans and leases
|
$
|
10,158
|
|
|
$
|
2,459
|
|
|
$
|
3,003
|
|
|
$
|
15,620
|
|
|
$
|
3,919,371
|
|
|
$
|
3,934,991
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
$
|
9
|
|
|
$
|
137
|
|
|
$
|
234
|
|
|
$
|
380
|
|
|
$
|
857,249
|
|
|
$
|
857,629
|
|
Hospitality
|
1,037
|
|
|
46
|
|
|
600
|
|
|
1,683
|
|
|
647,857
|
|
|
649,540
|
|
||||||
Gas station
|
245
|
|
|
643
|
|
|
137
|
|
|
1,025
|
|
|
259,162
|
|
|
260,187
|
|
||||||
Other
|
432
|
|
|
79
|
|
|
1,100
|
|
|
1,611
|
|
|
1,105,978
|
|
|
1,107,589
|
|
||||||
Construction
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
55,962
|
|
|
55,962
|
|
||||||
Residential property
|
730
|
|
|
89
|
|
|
423
|
|
|
1,242
|
|
|
336,549
|
|
|
337,791
|
|
||||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial term
|
484
|
|
|
42
|
|
|
111
|
|
|
637
|
|
|
137,395
|
|
|
138,032
|
|
||||||
Commercial lines of credit
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
136,231
|
|
|
136,231
|
|
||||||
International loans
|
80
|
|
|
—
|
|
|
—
|
|
|
80
|
|
|
25,741
|
|
|
25,821
|
|
||||||
Leases receivable
|
2,090
|
|
|
1,043
|
|
|
385
|
|
|
3,518
|
|
|
239,776
|
|
|
243,294
|
|
||||||
Consumer loans
|
170
|
|
|
—
|
|
|
—
|
|
|
170
|
|
|
22,660
|
|
|
22,830
|
|
||||||
Total Non-PCI loans and leases
|
$
|
5,277
|
|
|
$
|
2,079
|
|
|
$
|
2,990
|
|
|
$
|
10,346
|
|
|
$
|
3,824,560
|
|
|
$
|
3,834,906
|
|
|
Recorded
Investment |
|
Unpaid
Principal Balance |
|
With No
Related Allowance Recorded |
|
With an
Allowance Recorded |
|
Related
Allowance |
||||||||||
|
(in thousands)
|
||||||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
||||||||||
Retail
|
$
|
1,661
|
|
|
$
|
1,670
|
|
|
$
|
151
|
|
|
$
|
1,510
|
|
|
$
|
130
|
|
Hospitality
|
6,175
|
|
|
6,803
|
|
|
2,453
|
|
|
3,722
|
|
|
3,010
|
|
|||||
Gas station
|
4,918
|
|
|
5,048
|
|
|
4,918
|
|
|
—
|
|
|
—
|
|
|||||
Other
|
5,276
|
|
|
5,833
|
|
|
3,971
|
|
|
1,305
|
|
|
616
|
|
|||||
Residential property
|
2,765
|
|
|
2,825
|
|
|
2,765
|
|
|
—
|
|
|
—
|
|
|||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial term
|
3,828
|
|
|
3,901
|
|
|
1,052
|
|
|
2,776
|
|
|
791
|
|
|||||
Consumer loans
|
321
|
|
|
368
|
|
|
321
|
|
|
—
|
|
|
—
|
|
|||||
Total Non-PCI loans and leases
|
$
|
24,944
|
|
|
$
|
26,448
|
|
|
$
|
15,631
|
|
|
$
|
9,313
|
|
|
$
|
4,547
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
December 31, 2016
|
|
|
|
|
|
|
|
|
|
||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
||||||||||
Retail
|
$
|
1,678
|
|
|
$
|
1,684
|
|
|
$
|
151
|
|
|
$
|
1,527
|
|
|
$
|
120
|
|
Hospitality
|
6,227
|
|
|
6,823
|
|
|
2,243
|
|
|
3,984
|
|
|
3,078
|
|
|||||
Gas station
|
4,984
|
|
|
5,092
|
|
|
4,984
|
|
|
—
|
|
|
—
|
|
|||||
Other
|
6,070
|
|
|
6,808
|
|
|
3,127
|
|
|
2,943
|
|
|
782
|
|
|||||
Residential property
|
2,798
|
|
|
2,851
|
|
|
2,798
|
|
|
—
|
|
|
—
|
|
|||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial term
|
4,106
|
|
|
4,171
|
|
|
1,229
|
|
|
2,877
|
|
|
347
|
|
|||||
Commercial lines of credit
|
68
|
|
|
68
|
|
|
68
|
|
|
—
|
|
|
—
|
|
|||||
Consumer loans
|
419
|
|
|
489
|
|
|
419
|
|
|
—
|
|
|
—
|
|
|||||
Total Non-PCI loans and leases
|
$
|
26,350
|
|
|
$
|
27,986
|
|
|
$
|
15,019
|
|
|
$
|
11,331
|
|
|
$
|
4,327
|
|
|
Three Months Ended
|
||||||
|
Average Recorded Investment
|
|
Interest
Income
Recognized
|
||||
|
(in thousands)
|
||||||
March 31, 2017
|
|
|
|
||||
Real estate loans:
|
|
|
|
||||
Commercial property
|
|
|
|
||||
Retail
|
$
|
1,667
|
|
|
$
|
31
|
|
Hospitality
|
6,254
|
|
|
67
|
|
||
Gas station
|
4,828
|
|
|
94
|
|
||
Other
|
5,332
|
|
|
89
|
|
||
Residential property
|
2,773
|
|
|
33
|
|
||
Commercial and industrial loans:
|
|
|
|
||||
Commercial term
|
3,892
|
|
|
59
|
|
||
Consumer loans
|
324
|
|
|
3
|
|
||
Total Non-PCI loans and leases
|
$
|
25,070
|
|
|
$
|
376
|
|
|
|
|
|
||||
March 31, 2016
|
|
|
|
||||
Real estate loans:
|
|
|
|
||||
Commercial property
|
|
|
|
||||
Retail
|
$
|
2,872
|
|
|
$
|
41
|
|
Hospitality
|
6,703
|
|
|
154
|
|
||
Gas station
|
5,107
|
|
|
162
|
|
||
Other
|
8,249
|
|
|
212
|
|
||
Residential property
|
2,770
|
|
|
30
|
|
||
Commercial and industrial loans:
|
|
|
|
||||
Commercial term
|
5,213
|
|
|
77
|
|
||
Commercial lines of credit
|
45
|
|
|
5
|
|
||
International loans
|
1,260
|
|
|
—
|
|
||
Consumer loans
|
693
|
|
|
8
|
|
||
Total Non-PCI loans and leases
|
$
|
32,912
|
|
|
$
|
689
|
|
|
Three Months Ended
March 31, |
||||||
|
2017
|
|
2016
|
||||
|
(in thousands)
|
||||||
Interest income that would have been recognized had impaired loans and leases performed in accordance with their original terms
|
$
|
591
|
|
|
$
|
893
|
|
Less: Interest income recognized on impaired loans and leases
|
(376
|
)
|
|
(689
|
)
|
||
Interest foregone on impaired loans and leases
|
$
|
215
|
|
|
$
|
204
|
|
|
March 31, 2017
|
|
December 31, 2016
|
||||
|
(in thousands)
|
||||||
Real estate loans:
|
|
|
|
||||
Commercial property
|
|
|
|
||||
Retail
|
$
|
397
|
|
|
$
|
404
|
|
Hospitality
|
5,271
|
|
|
5,266
|
|
||
Gas station
|
994
|
|
|
1,025
|
|
||
Other
|
2,763
|
|
|
2,033
|
|
||
Residential property
|
552
|
|
|
564
|
|
||
Commercial and industrial loans:
|
|
|
|
||||
Commercial term
|
822
|
|
|
824
|
|
||
Leases receivable
|
1,644
|
|
|
901
|
|
||
Consumer loans
|
331
|
|
|
389
|
|
||
Total nonaccrual Non-PCI loans and leases
|
$
|
12,774
|
|
|
$
|
11,406
|
|
|
March 31, 2017
|
|
December 31, 2016
|
||||
|
(in thousands)
|
||||||
Nonaccrual Non-PCI loans and leases
|
$
|
12,774
|
|
|
$
|
11,406
|
|
Loans and leases 90 days or more past due and still accruing
|
—
|
|
|
—
|
|
||
Total nonperforming Non-PCI loans and leases
|
12,774
|
|
|
11,406
|
|
||
OREO
|
4,636
|
|
|
7,484
|
|
||
Total nonperforming assets
|
$
|
17,410
|
|
|
$
|
18,890
|
|
|
Nonaccrual TDRs
|
|
Accrual TDRs
|
||||||||||||||||||||||||||||||||||||
|
Deferral
of Principal |
|
Deferral
of Principal and Interest |
|
Reduction
of Principal and Interest |
|
Extension
of Maturity |
|
Total
|
|
Deferral
of Principal |
|
Deferral
of Principal and Interest |
|
Reduction
of Principal and Interest |
|
Extension
of Maturity |
|
Total
|
||||||||||||||||||||
|
(in thousands)
|
||||||||||||||||||||||||||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Retail
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,218
|
|
|
$
|
—
|
|
|
$
|
1,218
|
|
Hospitality
|
1,271
|
|
|
3,722
|
|
|
—
|
|
|
—
|
|
|
4,993
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||||
Gas station
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,307
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,307
|
|
||||||||||
Other
|
1,232
|
|
|
636
|
|
|
72
|
|
|
—
|
|
|
1,940
|
|
|
1,748
|
|
|
—
|
|
|
56
|
|
|
976
|
|
|
2,780
|
|
||||||||||
Residential property
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
777
|
|
|
—
|
|
|
—
|
|
|
286
|
|
|
1,063
|
|
||||||||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Commercial term
|
146
|
|
|
70
|
|
|
59
|
|
|
401
|
|
|
676
|
|
|
18
|
|
|
193
|
|
|
2,072
|
|
|
594
|
|
|
2,877
|
|
||||||||||
Consumer loans
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
116
|
|
|
—
|
|
|
116
|
|
||||||||||
Total Non-PCI TDR loans
|
$
|
2,649
|
|
|
$
|
4,428
|
|
|
$
|
131
|
|
|
$
|
401
|
|
|
$
|
7,609
|
|
|
$
|
3,850
|
|
|
$
|
193
|
|
|
$
|
3,462
|
|
|
$
|
1,856
|
|
|
$
|
9,361
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||||
Retail
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,228
|
|
|
$
|
—
|
|
|
$
|
1,228
|
|
Hospitality
|
1,292
|
|
|
3,722
|
|
|
—
|
|
|
—
|
|
|
5,014
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
||||||||||
Gas station
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,324
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
1,324
|
|
||||||||||
Other
|
387
|
|
|
651
|
|
|
143
|
|
|
—
|
|
|
1,181
|
|
|
2,688
|
|
|
—
|
|
|
286
|
|
|
1,344
|
|
|
4,318
|
|
||||||||||
Residential property
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
783
|
|
|
—
|
|
|
—
|
|
|
289
|
|
|
1,072
|
|
||||||||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Commercial term
|
149
|
|
|
71
|
|
|
69
|
|
|
419
|
|
|
708
|
|
|
22
|
|
|
198
|
|
|
2,135
|
|
|
662
|
|
|
3,017
|
|
||||||||||
Commercial lines of credit
|
|
|
|
|
|
|
|
|
|
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
68
|
|
|
68
|
|
||||||||||
Consumer loans
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
119
|
|
|
—
|
|
|
119
|
|
||||||||||
Total Non-PCI TDR loans
|
$
|
1,828
|
|
|
$
|
4,444
|
|
|
$
|
212
|
|
|
$
|
419
|
|
|
$
|
6,903
|
|
|
$
|
4,817
|
|
|
$
|
198
|
|
|
$
|
3,768
|
|
|
$
|
2,363
|
|
|
$
|
11,146
|
|
|
March 31, 2017
|
|
March 31, 2016
|
||||||||||||||||||
|
Number of
Loans |
|
Pre-
Modification Outstanding Recorded Investment |
|
Post-
Modification Outstanding Recorded Investment |
|
Number of
Loans |
|
Pre-
Modification Outstanding Recorded Investment |
|
Post-
Modification Outstanding Recorded Investment |
||||||||||
|
(in thousands, except number of loans)
|
||||||||||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Retail
(1)
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
1
|
|
|
$
|
21
|
|
|
$
|
20
|
|
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial term
(2)
|
—
|
|
|
—
|
|
|
—
|
|
|
2
|
|
|
214
|
|
|
209
|
|
||||
Total Non-PCI TDR loans
|
—
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
3
|
|
|
$
|
235
|
|
|
$
|
229
|
|
(1)
|
Includes a modification of
$20,000
through a reduction of principal or accrued interest for the three months ended
March 31, 2016
.
|
(2)
|
Includes modifications of
$152,000
through payment deferrals and
$57,000
through extensions of maturity for the three months ended
March 31, 2016
.
|
|
March 31, 2017
|
|
March 31, 2016
|
||||||||||
|
Number of Loans
|
|
Recorded Investment
|
|
Number of Loans
|
|
Recorded Investment
|
||||||
|
(in thousands, except number of loans)
|
||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
||||||
Commercial property
|
|
|
|
|
|
|
|
||||||
Other
|
—
|
|
|
$
|
—
|
|
|
2
|
|
|
$
|
719
|
|
Commercial and industrial loans:
|
|
|
|
|
|
|
|
||||||
Commercial term
|
—
|
|
|
—
|
|
|
1
|
|
|
30
|
|
||
Total Non-PCI TDR loans
|
—
|
|
|
$
|
—
|
|
|
3
|
|
|
$
|
749
|
|
|
Carrying Amount
|
|
Accretable Yield
|
||||
|
(in thousands)
|
||||||
Balance at January 1, 2017
|
$
|
8,892
|
|
|
$
|
(5,677
|
)
|
Accretion
|
134
|
|
|
134
|
|
||
Payments received
|
(1,037
|
)
|
|
—
|
|
||
Disposal/transfer to OREO
|
—
|
|
|
—
|
|
||
Change in expected cash flows, net
|
—
|
|
|
295
|
|
||
Loan loss (provision) income
|
80
|
|
|
—
|
|
||
Balance at March 31, 2017
|
$
|
8,069
|
|
|
$
|
(5,248
|
)
|
|
|
|
|
||||
Balance at January 1, 2016
|
$
|
14,573
|
|
|
$
|
(5,944
|
)
|
Accretion
|
421
|
|
|
421
|
|
||
Payments received
|
(811
|
)
|
|
—
|
|
||
Disposal/transfer to OREO
|
211
|
|
|
—
|
|
||
Change in expected cash flows, net
|
—
|
|
|
(578
|
)
|
||
Loan loss (provision) income
|
(204
|
)
|
|
—
|
|
||
Balance at March 31, 2016
|
$
|
14,190
|
|
|
$
|
(6,101
|
)
|
|
Pass/Pass-Watch
|
|
Special Mention
|
|
Classified
|
|
Total
|
|
Allowance
|
|
Total
|
||||||||||||
|
(in thousands)
|
||||||||||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
1,554
|
|
|
$
|
1,554
|
|
|
$
|
98
|
|
|
$
|
1,456
|
|
Hospitality
|
176
|
|
|
—
|
|
|
1,420
|
|
|
1,596
|
|
|
140
|
|
|
1,456
|
|
||||||
Gas station
|
—
|
|
|
1,153
|
|
|
1,470
|
|
|
2,623
|
|
|
531
|
|
|
2,092
|
|
||||||
Other
|
—
|
|
|
—
|
|
|
2,047
|
|
|
2,047
|
|
|
—
|
|
|
2,047
|
|
||||||
Residential property
|
970
|
|
|
—
|
|
|
—
|
|
|
970
|
|
|
73
|
|
|
897
|
|
||||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial term
|
—
|
|
|
11
|
|
|
109
|
|
|
120
|
|
|
41
|
|
|
79
|
|
||||||
Consumer loans
|
—
|
|
|
—
|
|
|
50
|
|
|
50
|
|
|
8
|
|
|
42
|
|
||||||
Total PCI loans
|
$
|
1,146
|
|
|
$
|
1,164
|
|
|
$
|
6,650
|
|
|
$
|
8,960
|
|
|
$
|
891
|
|
|
$
|
8,069
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
$
|
—
|
|
|
$
|
—
|
|
|
$
|
2,324
|
|
|
$
|
2,324
|
|
|
$
|
122
|
|
|
$
|
2,202
|
|
Hospitality
|
177
|
|
|
—
|
|
|
1,441
|
|
|
1,618
|
|
|
138
|
|
|
1,480
|
|
||||||
Gas station
|
—
|
|
|
1,180
|
|
|
1,512
|
|
|
2,692
|
|
|
589
|
|
|
2,103
|
|
||||||
Other
|
—
|
|
|
—
|
|
|
2,067
|
|
|
2,067
|
|
|
1
|
|
|
2,066
|
|
||||||
Residential property
|
976
|
|
|
—
|
|
|
—
|
|
|
976
|
|
|
72
|
|
|
904
|
|
||||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial term
|
—
|
|
|
—
|
|
|
136
|
|
|
136
|
|
|
41
|
|
|
95
|
|
||||||
Consumer loans
|
—
|
|
|
—
|
|
|
50
|
|
|
50
|
|
|
8
|
|
|
42
|
|
||||||
Total PCI loans
|
$
|
1,153
|
|
|
$
|
1,180
|
|
|
$
|
7,530
|
|
|
$
|
9,863
|
|
|
$
|
971
|
|
|
$
|
8,892
|
|
|
30-59 Days Past Due
|
|
60-89 Days Past Due
|
|
90 Days or More Past Due
|
|
Total Past Due
|
|
Current
|
|
Total
|
|
Allowance Amount
|
|
Total
|
||||||||||||||||
|
(in thousands)
|
||||||||||||||||||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Retail
|
$
|
183
|
|
|
$
|
—
|
|
|
$
|
227
|
|
|
$
|
410
|
|
|
$
|
1,144
|
|
|
$
|
1,554
|
|
|
$
|
98
|
|
|
$
|
1,456
|
|
Hospitality
|
180
|
|
|
—
|
|
|
—
|
|
|
180
|
|
|
1,416
|
|
|
1,596
|
|
|
140
|
|
|
1,456
|
|
||||||||
Gas station
|
—
|
|
|
—
|
|
|
116
|
|
|
116
|
|
|
2,507
|
|
|
2,623
|
|
|
531
|
|
|
2,092
|
|
||||||||
Other
|
1,903
|
|
|
—
|
|
|
—
|
|
|
1,903
|
|
|
144
|
|
|
2,047
|
|
|
—
|
|
|
2,047
|
|
||||||||
Residential property
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
970
|
|
|
970
|
|
|
73
|
|
|
897
|
|
||||||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Commercial term
|
—
|
|
|
—
|
|
|
5
|
|
|
5
|
|
|
115
|
|
|
120
|
|
|
41
|
|
|
79
|
|
||||||||
Consumer loans
|
—
|
|
|
—
|
|
|
50
|
|
|
50
|
|
|
—
|
|
|
50
|
|
|
8
|
|
|
42
|
|
||||||||
Total PCI loans
|
$
|
2,266
|
|
|
$
|
—
|
|
|
$
|
398
|
|
|
$
|
2,664
|
|
|
$
|
6,296
|
|
|
$
|
8,960
|
|
|
$
|
891
|
|
|
$
|
8,069
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Retail
|
$
|
797
|
|
|
$
|
—
|
|
|
$
|
238
|
|
|
$
|
1,035
|
|
|
$
|
1,289
|
|
|
$
|
2,324
|
|
|
$
|
122
|
|
|
$
|
2,202
|
|
Hospitality
|
178
|
|
|
—
|
|
|
—
|
|
|
178
|
|
|
1,440
|
|
|
1,618
|
|
|
138
|
|
|
1,480
|
|
||||||||
Gas station
|
—
|
|
|
—
|
|
|
116
|
|
|
116
|
|
|
2,576
|
|
|
2,692
|
|
|
589
|
|
|
2,103
|
|
||||||||
Other
|
—
|
|
|
—
|
|
|
7
|
|
|
7
|
|
|
2,060
|
|
|
2,067
|
|
|
1
|
|
|
2,066
|
|
||||||||
Residential property
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
976
|
|
|
976
|
|
|
72
|
|
|
904
|
|
||||||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||
Commercial term
|
—
|
|
|
—
|
|
|
6
|
|
|
6
|
|
|
130
|
|
|
136
|
|
|
41
|
|
|
95
|
|
||||||||
Consumer loans
|
—
|
|
|
—
|
|
|
50
|
|
|
50
|
|
|
—
|
|
|
50
|
|
|
8
|
|
|
42
|
|
||||||||
Total PCI loans
|
$
|
975
|
|
|
$
|
—
|
|
|
$
|
417
|
|
|
$
|
1,392
|
|
|
$
|
8,471
|
|
|
$
|
9,863
|
|
|
$
|
971
|
|
|
$
|
8,892
|
|
|
Pooled PCI Loans
|
|
Non-pooled PCI Loans
|
|
|
|||||||||||||||||||||
|
Number of Loans
|
|
Number of Pools
|
|
Carrying Amount
(in thousands)
|
|
Percentage of Total
|
|
Number of Loans
|
|
Carrying Amount
(in thousands)
|
|
Percentage of Total
|
|
Total PCI Loans
(in thousands)
|
|||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Commercial property
|
43
|
|
|
6
|
|
|
$
|
6,918
|
|
|
88.5
|
%
|
|
1
|
|
|
$
|
902
|
|
|
11.5
|
%
|
|
$
|
7,820
|
|
Residential property
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
1
|
|
|
970
|
|
|
100.0
|
%
|
|
$
|
970
|
|
||
Total real estate loans
|
43
|
|
|
6
|
|
|
6,918
|
|
|
78.7
|
%
|
|
2
|
|
|
1,872
|
|
|
21.3
|
%
|
|
8,790
|
|
|||
Commercial and industrial loans
|
5
|
|
|
3
|
|
|
120
|
|
|
100.0
|
%
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
120
|
|
|||
Consumer loans
|
1
|
|
|
1
|
|
|
8
|
|
|
16.0
|
%
|
|
1
|
|
|
42
|
|
|
84.0
|
%
|
|
50
|
|
|||
Total acquired loans
|
49
|
|
|
10
|
|
|
7,046
|
|
|
78.6
|
%
|
|
3
|
|
|
1,914
|
|
|
21.4
|
%
|
|
8,960
|
|
|||
Allowance for loan losses
|
|
|
|
|
(538
|
)
|
|
|
|
|
|
(353
|
)
|
|
|
|
(891
|
)
|
||||||||
Total carrying amount
|
|
|
|
|
$
|
6,508
|
|
|
|
|
|
|
$
|
1,561
|
|
|
|
|
$
|
8,069
|
|
|
Pooled PCI Loans
|
|
Non-pooled PCI Loans
|
|
|
|||||||||||||||||||||
|
Number of Loans
|
|
Number of Pools
|
|
Carrying Amount
(in thousands)
|
|
Percentage of Total
|
|
Number of Loans
|
|
Carrying Amount
(in thousands)
|
|
Percentage of Total
|
|
Total PCI Loans
(in thousands)
|
|||||||||||
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||
Commercial property
|
45
|
|
|
6
|
|
|
$
|
7,780
|
|
|
89.4
|
%
|
|
1
|
|
|
$
|
921
|
|
|
10.6
|
%
|
|
$
|
8,701
|
|
Residential property
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
2
|
|
|
976
|
|
|
100.0
|
%
|
|
$
|
976
|
|
||
Total real estate loans
|
45
|
|
|
6
|
|
|
7,780
|
|
|
80.4
|
%
|
|
3
|
|
|
1,897
|
|
|
19.6
|
%
|
|
9,677
|
|
|||
Commercial and industrial loans
|
6
|
|
|
3
|
|
|
136
|
|
|
100.0
|
%
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
136
|
|
|||
Consumer loans
|
1
|
|
|
1
|
|
|
50
|
|
|
100.0
|
%
|
|
—
|
|
|
—
|
|
|
—
|
%
|
|
50
|
|
|||
Total acquired loans
|
52
|
|
|
10
|
|
|
7,966
|
|
|
80.8
|
%
|
|
3
|
|
|
1,897
|
|
|
19.2
|
%
|
|
9,863
|
|
|||
Allowance for loan losses
|
|
|
|
|
(617
|
)
|
|
|
|
|
|
(354
|
)
|
|
|
|
(971
|
)
|
||||||||
Total carrying amount
|
|
|
|
|
$
|
7,349
|
|
|
|
|
|
|
$
|
1,543
|
|
|
|
|
$
|
8,892
|
|
|
2017
|
|
2016
|
||||
|
(in thousands)
|
||||||
Servicing assets:
|
|
|
|
||||
Balance at beginning of period
|
$
|
10,564
|
|
|
$
|
11,744
|
|
Addition related to sale of SBA loans
|
442
|
|
|
259
|
|
||
Amortization
|
(727
|
)
|
|
(551
|
)
|
||
Reversal of allowance
|
330
|
|
|
—
|
|
||
Balance at end of period
|
$
|
10,609
|
|
|
$
|
11,452
|
|
|
|
|
|
||||
Servicing liabilities:
|
|
|
|
||||
Balance at beginning of period
|
$
|
3,143
|
|
|
$
|
4,784
|
|
Amortization
|
(300
|
)
|
|
(196
|
)
|
||
Reversal of allowance
|
(67
|
)
|
|
—
|
|
||
Balance at end of period
|
$
|
2,776
|
|
|
$
|
4,588
|
|
|
Three Months Ended
March 31, |
||||||
|
2017
|
|
2016
|
||||
|
(in thousands, except for share and per share data)
|
||||||
Basic EPS:
|
|
|
|
||||
Net income
|
$
|
13,783
|
|
|
$
|
14,804
|
|
Less: income allocated to unvested restricted shares
|
84
|
|
|
79
|
|
||
Income allocated to common shares
|
$
|
13,699
|
|
|
$
|
14,725
|
|
Weighted-average shares for basic EPS
|
32,001,766
|
|
|
31,846,371
|
|
||
Basic EPS
|
$
|
0.43
|
|
|
$
|
0.46
|
|
|
|
|
|
||||
Effect of dilutive securities - options and unvested restricted stock
|
189,692
|
|
|
81,732
|
|
||
|
|
|
|
||||
Diluted EPS:
|
|
|
|
||||
Income allocated to common shares
|
$
|
13,699
|
|
|
$
|
14,725
|
|
Weighted-average shares for diluted EPS
|
32,191,458
|
|
|
31,928,103
|
|
||
Diluted EPS
|
$
|
0.43
|
|
|
$
|
0.46
|
|
|
Unrealized Gains
and Losses on
Available for Sale
Securities
|
|
Unrealized Gains
and Losses on
Interest-Only
Strip
|
|
Tax Benefit (Expense)
|
|
Total
|
||||||||
|
(in thousands)
|
||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
||||||||
Balance at beginning of period
|
$
|
(4,089
|
)
|
|
$
|
—
|
|
|
$
|
1,695
|
|
|
$
|
(2,394
|
)
|
Other comprehensive income before reclassification
|
1,620
|
|
|
—
|
|
|
(560
|
)
|
|
1,060
|
|
||||
Reclassification from accumulated other comprehensive income
|
(269
|
)
|
|
—
|
|
|
—
|
|
|
(269
|
)
|
||||
Period change
|
1,351
|
|
|
—
|
|
|
(560
|
)
|
|
791
|
|
||||
Balance at end of period
|
$
|
(2,738
|
)
|
|
$
|
—
|
|
|
$
|
1,135
|
|
|
$
|
(1,603
|
)
|
|
|
|
|
|
|
|
|
||||||||
March 31, 2016
|
|
|
|
|
|
|
|
||||||||
Balance at beginning of period
|
$
|
(2,331
|
)
|
|
$
|
9
|
|
|
$
|
2,007
|
|
|
$
|
(315
|
)
|
Other comprehensive income before reclassification
|
9,723
|
|
|
—
|
|
|
(4,044
|
)
|
|
5,679
|
|
||||
Balance at end of period
|
$
|
7,392
|
|
|
$
|
9
|
|
|
$
|
(2,037
|
)
|
|
$
|
5,364
|
|
|
Actual
|
|
Minimum
Regulatory
Requirement
|
|
Minimum to Be
Categorized as
“Well Capitalized”
|
|||||||||||||||
|
Amount
|
|
Ratio
|
|
Amount
|
|
Ratio
|
|
Amount
|
|
Ratio
|
|||||||||
|
(dollars in thousands)
|
|||||||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Total capital (to risk-weighted assets):
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Hanmi Financial
|
$
|
659,841
|
|
|
16.16
|
%
|
|
$
|
326,587
|
|
|
8.00
|
%
|
|
N/A
|
|
|
N/A
|
|
|
Hanmi Bank
|
$
|
649,785
|
|
|
15.91
|
%
|
|
$
|
326,769
|
|
|
8.00
|
%
|
|
$
|
408,462
|
|
|
10.00
|
%
|
Tier 1 capital (to risk-weighted assets):
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Hanmi Financial
|
$
|
527,765
|
|
|
12.93
|
%
|
|
$
|
244,941
|
|
|
6.00
|
%
|
|
N/A
|
|
|
N/A
|
|
|
Hanmi Bank
|
$
|
615,449
|
|
|
15.07
|
%
|
|
$
|
245,077
|
|
|
6.00
|
%
|
|
$
|
326,769
|
|
|
8.00
|
%
|
Common equity Tier 1 capital (to risk-weighted assets):
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Hanmi Financial
|
$
|
512,580
|
|
|
12.56
|
%
|
|
$
|
183,705
|
|
|
4.50
|
%
|
|
N/A
|
|
|
N/A
|
|
|
Hanmi Bank
|
$
|
615,449
|
|
|
15.07
|
%
|
|
$
|
183,808
|
|
|
4.50
|
%
|
|
$
|
265,500
|
|
|
6.50
|
%
|
Tier 1 capital (to average assets):
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Hanmi Financial
|
$
|
527,765
|
|
|
11.21
|
%
|
|
$
|
188,244
|
|
|
4.00
|
%
|
|
N/A
|
|
|
N/A
|
|
|
Hanmi Bank
|
$
|
615,449
|
|
|
13.08
|
%
|
|
$
|
188,171
|
|
|
4.00
|
%
|
|
$
|
235,214
|
|
|
5.00
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
December 31, 2016
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Total capital (to risk-weighted assets):
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Hanmi Financial
|
$
|
554,089
|
|
|
13.86
|
%
|
|
$
|
319,901
|
|
|
8.00
|
%
|
|
N/A
|
|
|
N/A
|
|
|
Hanmi Bank
|
$
|
544,759
|
|
|
13.64
|
%
|
|
$
|
319,520
|
|
|
8.00
|
%
|
|
$
|
399,399
|
|
|
10.00
|
%
|
Tier 1 capital (to risk-weighted assets):
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Hanmi Financial
|
$
|
520,477
|
|
|
13.02
|
%
|
|
$
|
239,926
|
|
|
6.00
|
%
|
|
N/A
|
|
|
N/A
|
|
|
Hanmi Bank
|
$
|
511,146
|
|
|
12.80
|
%
|
|
$
|
239,640
|
|
|
6.00
|
%
|
|
$
|
319,520
|
|
|
8.00
|
%
|
Common equity Tier 1 capital (to risk-weighted assets):
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Hanmi Financial
|
$
|
509,239
|
|
|
12.73
|
%
|
|
$
|
179,944
|
|
|
4.50
|
%
|
|
N/A
|
|
|
N/A
|
|
|
Hanmi Bank
|
$
|
511,146
|
|
|
12.80
|
%
|
|
$
|
179,730
|
|
|
4.50
|
%
|
|
$
|
259,610
|
|
|
6.50
|
%
|
Tier 1 capital (to average assets):
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||
Hanmi Financial
|
$
|
520,477
|
|
|
11.53
|
%
|
|
$
|
180,581
|
|
|
4.00
|
%
|
|
N/A
|
|
|
N/A
|
|
|
Hanmi Bank
|
$
|
511,146
|
|
|
11.33
|
%
|
|
$
|
180,411
|
|
|
4.00
|
%
|
|
$
|
225,514
|
|
|
5.00
|
%
|
•
|
Level 1 - Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.
|
•
|
Level 2 - Significant other observable inputs other than Level 1 prices, such as quoted prices for similar assets or liabilities, quoted prices in markets that are not active, and other inputs that are observable or can be corroborated by observable market data.
|
•
|
Level 3 - Significant unobservable inputs that reflect a company’s own assumptions about the assumptions that market participants would use in pricing an asset or liability.
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
|
||||||||
|
Quoted Prices in
Active Markets
for Identical
Assets
|
|
Significant
Observable
Inputs with No
Active Market
with Identical
Characteristics
|
|
Significant
Unobservable
Inputs
|
|
Balance
|
||||||||
|
(in thousands)
|
||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Securities available for sale:
|
|
|
|
|
|
|
|
||||||||
Mortgage-backed securities
|
$
|
—
|
|
|
$
|
262,095
|
|
|
$
|
—
|
|
|
$
|
262,095
|
|
Collateralized mortgage obligations
|
—
|
|
|
86,928
|
|
|
—
|
|
|
86,928
|
|
||||
U.S. government agency securities
|
—
|
|
|
7,446
|
|
|
—
|
|
|
7,446
|
|
||||
SBA loan pools securities
|
—
|
|
|
4,163
|
|
|
—
|
|
|
4,163
|
|
||||
Municipal bonds-tax exempt
|
—
|
|
|
158,774
|
|
|
—
|
|
|
158,774
|
|
||||
Municipal bonds-taxable
|
—
|
|
|
1,037
|
|
|
—
|
|
|
1,037
|
|
||||
Corporate bonds
|
—
|
|
|
5,022
|
|
|
—
|
|
|
5,022
|
|
||||
U.S. treasury securities
|
155
|
|
|
—
|
|
|
—
|
|
|
155
|
|
||||
Mutual funds
|
22,390
|
|
|
—
|
|
|
—
|
|
|
22,390
|
|
||||
Total securities available for sale
|
$
|
22,545
|
|
|
$
|
525,465
|
|
|
$
|
—
|
|
|
$
|
548,010
|
|
|
|
|
|
|
|
|
|
||||||||
December 31, 2016
|
|
|
|
|
|
|
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Securities available for sale:
|
|
|
|
|
|
|
|
||||||||
Mortgage-backed securities
|
$
|
—
|
|
|
$
|
229,630
|
|
|
$
|
—
|
|
|
$
|
229,630
|
|
Collateralized mortgage obligations
|
—
|
|
|
76,451
|
|
|
—
|
|
|
76,451
|
|
||||
U.S. government agency securities
|
—
|
|
|
7,441
|
|
|
—
|
|
|
7,441
|
|
||||
SBA loan pools securities
|
—
|
|
|
4,146
|
|
|
—
|
|
|
4,146
|
|
||||
Municipal bonds-tax exempt
|
—
|
|
|
158,030
|
|
|
—
|
|
|
158,030
|
|
||||
Municipal bonds-taxable
|
—
|
|
|
13,701
|
|
|
—
|
|
|
13,701
|
|
||||
Corporate bonds
|
—
|
|
|
5,015
|
|
|
—
|
|
|
5,015
|
|
||||
U.S. treasury securities
|
156
|
|
|
—
|
|
|
—
|
|
|
156
|
|
||||
Mutual funds
|
22,394
|
|
|
—
|
|
|
—
|
|
|
22,394
|
|
||||
Total securities available for sale
|
$
|
22,550
|
|
|
$
|
494,414
|
|
|
$
|
—
|
|
|
$
|
516,964
|
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
|
||||||||
|
Quoted Prices in
Active Markets
for Identical
Assets
|
|
Significant
Observable
Inputs With No
Active Market
With Identical
Characteristics
|
|
Significant
Unobservable
Inputs
|
|
Loss During the Three Months Ended March 31, 2017
|
||||||||
|
(in thousands)
|
||||||||||||||
March 31, 2017
|
|
|
|
|
|
|
|
||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Impaired loans (excluding PCI loans)
(1)
|
$
|
—
|
|
|
$
|
14,567
|
|
|
$
|
5,830
|
|
|
$
|
474
|
|
OREO
(2)
|
—
|
|
|
4,636
|
|
|
—
|
|
|
—
|
|
||||
|
|
|
|
|
|
|
|
||||||||
|
Level 1
|
|
Level 2
|
|
Level 3
|
|
|
||||||||
|
Quoted Prices in
Active Markets
for Identical
Assets
|
|
Significant
Observable
Inputs With No
Active Market
With Identical
Characteristics
|
|
Significant
Unobservable
Inputs
|
|
Loss During the Twelve Months Ended December 31, 2016
|
||||||||
|
(in thousands)
|
||||||||||||||
December 31, 2016
|
|
|
|
||||||||||||
Assets:
|
|
|
|
|
|
|
|
||||||||
Impaired loans (excluding PCI loans)
(3)
|
$
|
—
|
|
|
$
|
15,257
|
|
|
$
|
6,767
|
|
|
$
|
868
|
|
OREO
(4)
|
—
|
|
|
7,484
|
|
|
—
|
|
|
—
|
|
(1)
|
Consist of real estate loans of
$17.0 million
, commercial and industrial loans of
$3.0 million
and consumer loans of
$321,000
.
|
(2)
|
Consist of properties obtained from the foreclosure of commercial property loans of
$2.9 million
and residential property loans of
$1.7 million
.
|
(3)
|
Consist of real estate loans of
$17.8 million
, commercial and industrial loans of
$3.8 million
, and consumer loans of
$419,000
.
|
(4)
|
Consist of properties obtained from the foreclosure of commercial property loans of
$5.4 million
and residential property loans of
$2.1 million
.
|
|
March 31, 2017
|
||||||||||||||
|
Carrying
|
|
Fair Value
|
||||||||||||
|
Amount
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
|
(in thousands)
|
||||||||||||||
Financial assets:
|
|
|
|
|
|
|
|
||||||||
Cash and due from banks
|
$
|
138,592
|
|
|
$
|
138,592
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Securities available for sale
|
548,010
|
|
|
22,545
|
|
|
525,465
|
|
|
—
|
|
||||
Loans and leases receivable, net of allowance for loan and lease losses
|
3,910,799
|
|
|
—
|
|
|
—
|
|
|
3,877,761
|
|
||||
Loans held for sale
|
8,849
|
|
|
—
|
|
|
8,849
|
|
|
—
|
|
||||
Accrued interest receivable
|
10,774
|
|
|
10,774
|
|
|
—
|
|
|
—
|
|
||||
FHLB stock
|
16,385
|
|
|
—
|
|
|
16,385
|
|
|
—
|
|
||||
Financial liabilities:
|
|
|
|
|
|
|
|
||||||||
Noninterest-bearing deposits
|
1,241,272
|
|
|
—
|
|
|
1,241,272
|
|
|
—
|
|
||||
Interest-bearing deposits
|
2,841,893
|
|
|
—
|
|
|
—
|
|
|
2,789,454
|
|
||||
Borrowings
|
166,795
|
|
|
—
|
|
|
—
|
|
|
166,795
|
|
||||
Accrued interest payable
|
2,619
|
|
|
2,619
|
|
|
—
|
|
|
—
|
|
||||
Off-balance sheet items:
|
|
|
|
|
|
|
|
||||||||
Commitments to extend credit
|
330,906
|
|
|
—
|
|
|
—
|
|
|
330,906
|
|
||||
Standby letters of credit
|
20,555
|
|
|
—
|
|
|
—
|
|
|
20,555
|
|
|
December 31, 2016
|
||||||||||||||
|
Carrying
|
|
Fair Value
|
||||||||||||
|
Amount
|
|
Level 1
|
|
Level 2
|
|
Level 3
|
||||||||
|
(in thousands)
|
||||||||||||||
Financial assets:
|
|
|
|
|
|
|
|
||||||||
Cash and due from banks
|
$
|
147,235
|
|
|
$
|
147,235
|
|
|
$
|
—
|
|
|
$
|
—
|
|
Securities available for sale
|
516,964
|
|
|
22,550
|
|
|
494,414
|
|
|
—
|
|
||||
Loans and leases receivable, net of allowance for loan and lease losses
|
3,812,340
|
|
|
—
|
|
|
—
|
|
|
3,789,579
|
|
||||
Loans held for sale
|
9,316
|
|
|
—
|
|
|
9,316
|
|
|
—
|
|
||||
Accrued interest receivable
|
10,987
|
|
|
10,987
|
|
|
—
|
|
|
—
|
|
||||
FHLB stock
|
16,385
|
|
|
—
|
|
|
16,385
|
|
|
—
|
|
||||
Financial liabilities:
|
|
|
|
|
|
|
|
||||||||
Noninterest-bearing deposits
|
1,203,240
|
|
|
—
|
|
|
1,203,240
|
|
|
—
|
|
||||
Interest-bearing deposits
|
2,606,497
|
|
|
—
|
|
|
—
|
|
|
2,541,929
|
|
||||
Borrowings
|
333,978
|
|
|
—
|
|
|
—
|
|
|
333,978
|
|
||||
Accrued interest payable
|
2,567
|
|
|
2,567
|
|
|
—
|
|
|
—
|
|
||||
Off-balance sheet items:
|
|
|
|
|
|
|
|
||||||||
Commitments to extend credit
|
310,987
|
|
|
—
|
|
|
—
|
|
|
310,987
|
|
||||
Standby letters of credit
|
15,669
|
|
|
—
|
|
|
—
|
|
|
15,669
|
|
|
Unrecognized
Expense
|
|
Average Expected
Recognition
Period
|
||
|
(in thousands)
|
|
|
||
Stock option awards
|
$
|
50
|
|
|
0.9 years
|
Restricted stock awards
|
5,810
|
|
|
2.5 years
|
|
Total unrecognized share-based compensation expense
|
$
|
5,860
|
|
|
2.5 years
|
|
Number of
Shares
|
|
Weighted-
Average
Exercise
Price Per
Share
|
|
Weighted-
Average
Remaining
Contractual
Life
|
|
Aggregate
Intrinsic
Value of
In-the-
Money
Options
|
|
|||||
|
|
|
|
|
|
|
(in thousands)
|
|
|||||
Options outstanding at beginning of period
|
387,901
|
|
|
$
|
17.49
|
|
|
6.8 years
|
|
$
|
6,752
|
|
(1)
|
Options exercised
|
(1,000
|
)
|
|
$
|
12.54
|
|
|
5.7 years
|
|
—
|
|
|
|
Options outstanding at end of period
|
386,901
|
|
|
$
|
17.53
|
|
|
6.5 years
|
|
$
|
5,116
|
|
(2)
|
|
|
|
|
|
|
|
|
|
|||||
Options exercisable at end of period
|
340,561
|
|
|
$
|
16.86
|
|
|
6.4 years
|
|
$
|
4,730
|
|
(2)
|
(1)
|
Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was
$34.90
as of December 31, 2016, over the exercise price, multiplied by the number of options.
|
(2)
|
Intrinsic value represents the excess of the closing stock price on the last trading day of the period, which was
$30.75
as of
March 31, 2017
, over the exercise price, multiplied by the number of options.
|
|
Three Months Ended
March 31, 2017 |
|||||
|
Number of
Shares
|
|
Weighted-
Average
Grant Date
Fair Value
Per Share
|
|||
Restricted stock at beginning of period
|
343,958
|
|
|
$
|
16.60
|
|
Restricted stock granted
|
87,245
|
|
|
31.47
|
|
|
Restricted stock vested
|
(88,914
|
)
|
|
16.51
|
|
|
Restricted stock forfeited
|
(5,834
|
)
|
|
21.96
|
|
|
Restricted stock at end of period
|
336,455
|
|
|
20.39
|
|
|
March 31, 2017
|
|
December 31, 2016
|
||||
|
(in thousands)
|
||||||
Commitments to extend credit
|
$
|
330,906
|
|
|
$
|
310,987
|
|
Standby letters of credit
|
20,555
|
|
|
15,669
|
|
||
Commercial letters of credit
|
7,827
|
|
|
4,215
|
|
||
Total undisbursed loan commitments
|
$
|
359,288
|
|
|
$
|
330,871
|
|
|
Three Months Ended
March 31, |
||||||
|
2017
|
|
2016
|
||||
|
(in thousands)
|
||||||
Balance at beginning of period
|
$
|
1,184
|
|
|
$
|
986
|
|
Provision
|
—
|
|
|
234
|
|
||
Balance at end of period
|
$
|
1,184
|
|
|
$
|
1,220
|
|
|
As of or for the
|
||||||
|
Three Months Ended March 31,
|
||||||
|
2017
|
|
2016
|
||||
|
(dollars in thousands, except per share data)
|
||||||
Summary balance sheets:
|
|
|
|
||||
Cash and due from banks
|
$
|
138,592
|
|
|
$
|
137,464
|
|
Securities
|
548,010
|
|
|
675,032
|
|
||
Loans and leases receivable
(1)
|
3,910,799
|
|
|
3,265,453
|
|
||
Assets
|
4,811,821
|
|
|
4,310,748
|
|
||
Deposits
|
4,083,165
|
|
|
3,499,992
|
|
||
Liabilities
|
4,272,279
|
|
|
3,799,888
|
|
||
Stockholders’ equity
|
539,542
|
|
|
510,860
|
|
||
Tangible equity
|
526,745
|
|
|
509,241
|
|
||
Average loans and leases receivable
|
3,881,686
|
|
|
3,192,832
|
|
||
Average securities
|
526,549
|
|
|
682,370
|
|
||
Average interest-earning assets
|
4,463,220
|
|
|
3,949,788
|
|
||
Average assets
|
4,738,221
|
|
|
4,221,076
|
|
||
Average deposits
|
3,873,840
|
|
|
3,482,986
|
|
||
Average FHLB advances
|
270,500
|
|
|
181,868
|
|
||
Average subordinated debentures
|
30,950
|
|
|
18,722
|
|
||
Average interest-bearing liabilities
|
2,979,139
|
|
|
2,544,754
|
|
||
Average stockholders’ equity
|
534,273
|
|
|
499,469
|
|
||
Average tangible equity
|
521,420
|
|
|
497,797
|
|
||
Per share data:
|
|
|
|
||||
Earnings per share – basic
(2)
|
$
|
0.43
|
|
|
$
|
0.46
|
|
Earnings per share – diluted
(2)
|
$
|
0.43
|
|
|
$
|
0.46
|
|
Book value per share
(3)
|
$
|
16.66
|
|
|
$
|
15.84
|
|
Tangible book value per share
(4)
|
$
|
16.26
|
|
|
$
|
15.79
|
|
Cash dividends per share
|
$
|
0.19
|
|
|
$
|
0.14
|
|
Common shares outstanding
|
32,392,580
|
|
|
32,249,512
|
|
||
Performance ratios:
|
|
|
|
||||
Return on average assets
(5) (6)
|
1.18
|
%
|
|
1.41
|
%
|
||
Return on average stockholders’ equity
(5) (7)
|
10.46
|
%
|
|
11.92
|
%
|
||
Return on average tangible equity
(5) (8)
|
10.72
|
%
|
|
11.96
|
%
|
||
Net interest margin
(9)
|
3.89
|
%
|
|
3.98
|
%
|
||
Net interest margin excluding acquisition accounting
(9)
|
3.85
|
%
|
|
3.68
|
%
|
||
Efficiency ratio
(10)
|
54.95
|
%
|
|
57.25
|
%
|
||
Efficiency ratio excluding merger and integration costs
(10)
|
55.01
|
%
|
|
57.25
|
%
|
||
Dividend payout ratio
(11)
|
44.39
|
%
|
|
30.28
|
%
|
||
Average stockholders’ equity to average assets
|
11.28
|
%
|
|
11.83
|
%
|
||
|
|
|
|
|
|
||
|
|
|
|
||||
|
|
|
|
||||
|
|
|
|
||||
|
|
|
|
Capital ratios
(15)
:
|
|
|
|
||||
Total risk-based capital:
|
|
|
|
||||
Hanmi Financial
|
16.16
|
%
|
|
14.87
|
%
|
||
Hanmi Bank
|
15.91
|
%
|
|
14.66
|
%
|
||
Tier 1 risk-based capital:
|
|
|
|
||||
Hanmi Financial
|
12.93
|
%
|
|
13.61
|
%
|
||
Hanmi Bank
|
15.07
|
%
|
|
13.40
|
%
|
||
Common equity Tier 1 capital:
|
|
|
|
||||
Hanmi Financial
|
12.56
|
%
|
|
13.61
|
%
|
||
Hanmi Bank
|
15.07
|
%
|
|
13.40
|
%
|
||
Tier 1 leverage:
|
|
|
|
||||
Hanmi Financial
|
11.21
|
%
|
|
11.26
|
%
|
||
Hanmi Bank
|
13.08
|
%
|
|
11.25
|
%
|
||
Asset quality ratios:
|
|
|
|
||||
Nonperforming Non-PCI loans and leases to loans and leases
(12)
|
0.32
|
%
|
|
0.50
|
%
|
||
Nonperforming assets to assets
(13)
|
0.36
|
%
|
|
0.60
|
%
|
||
Net loan and lease charge-offs (recoveries) to average loans and leases
|
(0.08
|
)%
|
|
0.05
|
%
|
||
Allowance for loan lease losses to loans and leases
|
0.84
|
%
|
|
1.24
|
%
|
||
Allowance for loan and lease losses to non-performing Non-PCI loans and lease
(12)
(14)
|
252.54
|
%
|
|
217.38
|
%
|
||
Acquired loans:
|
|
|
|
||||
PCI loans, net of discounts
|
$
|
8,960
|
|
|
$
|
19,834
|
|
Allowance for loan losses on PCI loans
|
891
|
|
|
5,645
|
|
||
Non-PCI loans, net of discounts
|
101,062
|
|
|
139,869
|
|
||
Unamortized acquisition discounts on Non-PCI loans
|
5,773
|
|
|
9,021
|
|
(1)
|
Loans and leases receivable, net of allowance for loan and lease losses
|
(2)
|
Calculation based on net income allocated to common shares
|
(3)
|
Stockholders’ equity divided by common shares outstanding
|
(4)
|
Tangible equity divided by common shares outstanding
|
(5)
|
Calculation based on annualized net income
|
(6)
|
Net income divided by average assets
|
(7)
|
Net income divided by average stockholders’ equity
|
(8)
|
Net income divided by average tangible equity
|
(9)
|
Net interest income on a taxable equivalent basis before provision for loan and lease losses divided by average interest-earning assets
|
(10)
|
Noninterest expenses divided by the sum of net interest income before provision for loan and lease losses and noninterest income
|
(11)
|
Dividend declared per share divided by basic earnings per share
|
(12)
|
Excludes PCI loans
|
(13)
|
Nonperforming assets consist of nonperforming loans and leases (see footnote (12) above) and OREO
|
(14)
|
Excludes allowance for loan and lease losses allocated to PCI loans
|
(15)
|
Basel III rules, including certain transitional provisions, became effective January 1, 2015
|
|
March 31,
|
||||||
|
2017
|
|
2016
|
||||
|
(in thousands, except per share data)
|
||||||
Total assets
|
$
|
4,811,821
|
|
|
$
|
4,310,748
|
|
Less goodwill
|
(11,031
|
)
|
|
—
|
|
||
Less other intangible assets, net
|
(1,766
|
)
|
|
(1,619
|
)
|
||
Tangible assets
|
$
|
4,799,024
|
|
|
$
|
4,309,129
|
|
|
|
|
|
||||
Total stockholders’ equity
|
$
|
539,542
|
|
|
$
|
510,860
|
|
Less goodwill
|
(11,031
|
)
|
|
—
|
|
||
Less other intangible assets, net
|
(1,766
|
)
|
|
(1,619
|
)
|
||
Tangible stockholders' equity
|
$
|
526,745
|
|
|
$
|
509,241
|
|
|
|
|
|
||||
Book value per share
|
$
|
16.66
|
|
|
$
|
15.84
|
|
Effect of goodwill
|
(0.35
|
)
|
|
—
|
|
||
Effect of other intangible assets
|
(0.05
|
)
|
|
(0.05
|
)
|
||
Tangible book value per share
|
$
|
16.26
|
|
|
$
|
15.79
|
|
|
Three Months Ended
|
||||||||||||
|
March 31, 2017
|
|
March 31, 2016
|
||||||||||
|
Amount
|
|
Rate
|
|
Amount
|
|
Rate
|
||||||
|
(dollars in thousands)
|
||||||||||||
Core loan and lease interest income and yield
|
$
|
44,797
|
|
|
4.68
|
%
|
|
$
|
37,036
|
|
|
4.67
|
%
|
Accretion of discount on purchased loans
|
581
|
|
|
0.06
|
%
|
|
2,031
|
|
|
0.25
|
%
|
||
As reported
|
$
|
45,378
|
|
|
4.74
|
%
|
|
$
|
39,067
|
|
|
4.92
|
%
|
|
|
|
|
|
|
|
|
||||||
Net interest income and net interest margin excluding acquisition accounting
(1)
|
$
|
42,230
|
|
|
3.85
|
%
|
|
$
|
36,164
|
|
|
3.68
|
%
|
Accretion of discount on Non-PCI loans and leases
|
527
|
|
|
0.04
|
%
|
|
1,754
|
|
|
0.18
|
%
|
||
Accretion of discount on PCI loans and leases
|
54
|
|
|
—
|
%
|
|
277
|
|
|
0.03
|
%
|
||
Accretion of time deposits premium
|
126
|
|
|
0.01
|
%
|
|
942
|
|
|
0.10
|
%
|
||
Amortization of subordinated debentures discount
|
(77
|
)
|
|
(0.01
|
)%
|
|
(56
|
)
|
|
(0.01
|
)%
|
||
Net impact
|
630
|
|
|
0.04
|
%
|
|
2,917
|
|
|
0.30
|
%
|
||
As reported on a fully taxable equivalent basis
|
$
|
42,860
|
|
|
3.89
|
%
|
|
$
|
39,081
|
|
|
3.98
|
%
|
(1)
|
Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate.
|
•
|
Loans and leases receivable, before the allowance for loan and lease losses, were $3.94 billion at the end of the first quarter of 2017, up $99.2 million, or 2.6 percent, from $3.84 billion at the end of 2016.
|
•
|
Deposits at March 31, 2017 were $4.08 billion, an increase of $273.4 million, or 7.2 percent, from $3.81 billion at the end of 2016.
|
•
|
Asset quality at the end of the first quarter of 2017 improved with non-performing assets of $17.4 million, or 0.36 percent of total assets, compared with $18.9 million, or 0.40 percent of total assets at the end of 2016.
|
|
Three Months Ended
|
||||||||||||||||||||
|
March 31, 2017
|
|
March 31, 2016
|
||||||||||||||||||
|
Average
Balance
|
|
Interest
Income /
Expense
|
|
Average
Yield /
Rate
|
|
Average
Balance
|
|
Interest
Income /
Expense
|
|
Average
Yield /
Rate
|
||||||||||
|
(dollars in thousands)
|
||||||||||||||||||||
Assets
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest-earning assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Loans and leases receivable
(1)
|
$
|
3,881,686
|
|
|
$
|
45,378
|
|
|
4.74
|
%
|
|
$
|
3,192,832
|
|
|
$
|
39,067
|
|
|
4.92
|
%
|
Securities
(2)
|
526,549
|
|
|
3,026
|
|
|
2.30
|
%
|
|
682,370
|
|
|
3,529
|
|
|
2.07
|
%
|
||||
FRB and FHLB stock
|
16,385
|
|
|
374
|
|
|
9.26
|
%
|
|
30,497
|
|
|
542
|
|
|
7.11
|
%
|
||||
Interest-bearing deposits in other banks
|
38,600
|
|
|
77
|
|
|
0.81
|
%
|
|
44,089
|
|
|
48
|
|
|
0.44
|
%
|
||||
Total interest-earning assets
|
4,463,220
|
|
|
48,855
|
|
|
4.44
|
%
|
|
3,949,788
|
|
|
43,186
|
|
|
4.40
|
%
|
||||
Noninterest-earning assets:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Cash and due from banks
|
117,802
|
|
|
|
|
|
|
114,664
|
|
|
|
|
|
||||||||
Allowance for loan and lease losses
|
(32,842
|
)
|
|
|
|
|
|
(42,519
|
)
|
|
|
|
|
||||||||
Other assets
|
190,041
|
|
|
|
|
|
|
199,143
|
|
|
|
|
|
||||||||
Total assets
|
$
|
4,738,221
|
|
|
|
|
|
|
$
|
4,221,076
|
|
|
|
|
|
||||||
Liabilities and Stockholders’ Equity
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Interest-bearing liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Deposits:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Demand: interest-bearing
|
$
|
97,602
|
|
|
$
|
19
|
|
|
0.08
|
%
|
|
$
|
95,560
|
|
|
$
|
19
|
|
|
0.08
|
%
|
Money market and savings
|
1,406,903
|
|
|
2,666
|
|
|
0.77
|
%
|
|
902,037
|
|
|
1,084
|
|
|
0.48
|
%
|
||||
Time deposits
|
1,173,184
|
|
|
2,469
|
|
|
0.85
|
%
|
|
1,346,567
|
|
|
2,624
|
|
|
0.78
|
%
|
||||
Total interest-bearing deposits
|
2,677,689
|
|
|
5,154
|
|
|
0.78
|
%
|
|
2,344,164
|
|
|
3,727
|
|
|
0.64
|
%
|
||||
FHLB advances
|
270,500
|
|
|
468
|
|
|
0.70
|
%
|
|
181,868
|
|
|
195
|
|
|
0.43
|
%
|
||||
Subordinated debentures
|
30,950
|
|
|
373
|
|
|
4.82
|
%
|
|
18,722
|
|
|
183
|
|
|
3.93
|
%
|
||||
Total interest-bearing liabilities
|
2,979,139
|
|
|
5,995
|
|
|
0.82
|
%
|
|
2,544,754
|
|
|
4,105
|
|
|
0.65
|
%
|
||||
Noninterest-bearing liabilities:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Demand deposits: noninterest-bearing
|
1,196,151
|
|
|
|
|
|
|
1,138,822
|
|
|
|
|
|
||||||||
Other liabilities
|
28,658
|
|
|
|
|
|
|
38,031
|
|
|
|
|
|
||||||||
Stockholders’ equity
|
534,273
|
|
|
|
|
|
|
499,469
|
|
|
|
|
|
||||||||
Total liabilities and stockholders’ equity
|
$
|
4,738,221
|
|
|
|
|
|
|
$
|
4,221,076
|
|
|
|
|
|
||||||
Net interest income (taxable equivalent)
|
|
|
$
|
42,860
|
|
|
|
|
|
|
$
|
39,081
|
|
|
|
||||||
Cost of deposits
(3)
|
|
|
|
|
0.54
|
%
|
|
|
|
|
|
0.43
|
%
|
||||||||
Net interest spread
(4)
|
|
|
|
|
3.62
|
%
|
|
|
|
|
|
3.75
|
%
|
||||||||
Net interest margin
(5)
|
|
|
|
|
3.89
|
%
|
|
|
|
|
|
3.98
|
%
|
(1)
|
Loans and leases receivable include LHFS and exclude the allowance for loan and lease losses. Nonaccrual loans and leases are included in the average loan and lease balance.
|
(2)
|
Amounts calculated on a fully taxable equivalent basis using the current statutory federal tax rate.
|
(3)
|
Represents interest expense on deposits as a percentage of all interest-bearing and noninterest-bearing deposits.
|
(4)
|
Represents the average yield earned on interest-earning assets less the average rate paid on interest-bearing liabilities.
|
(5)
|
Represents net interest income as a percentage of average interest-earning assets.
|
|
Three Months Ended
|
||||||||||
|
March 31, 2017 vs. March 31, 2016
|
||||||||||
|
Increases (Decreases) Due to Change In
|
||||||||||
|
Volume
|
|
Rate
|
|
Total
|
||||||
|
(in thousands)
|
||||||||||
Interest and dividend income:
|
|
|
|
|
|
||||||
Loans and leases receivable
|
$
|
7,873
|
|
|
$
|
(1,562
|
)
|
|
$
|
6,311
|
|
Securities
|
(870
|
)
|
|
367
|
|
|
(503
|
)
|
|||
FRB and FHLB stock
|
(302
|
)
|
|
134
|
|
|
(168
|
)
|
|||
Interest-bearing deposits in other banks
|
(7
|
)
|
|
36
|
|
|
29
|
|
|||
Total interest and dividend income
|
$
|
6,694
|
|
|
$
|
(1,025
|
)
|
|
$
|
5,669
|
|
Interest expense:
|
|
|
|
|
|
||||||
Money market and savings
|
$
|
761
|
|
|
$
|
821
|
|
|
$
|
1,582
|
|
Time deposits
|
(371
|
)
|
|
216
|
|
|
(155
|
)
|
|||
FHLB advances
|
119
|
|
|
154
|
|
|
273
|
|
|||
Subordinated debentures
|
141
|
|
|
49
|
|
|
190
|
|
|||
Total interest expense
|
$
|
650
|
|
|
$
|
1,240
|
|
|
$
|
1,890
|
|
Change in net interest income (taxable equivalent)
|
$
|
6,044
|
|
|
$
|
(2,265
|
)
|
|
$
|
3,779
|
|
|
Three Months Ended March 31,
|
|
Increase (Decrease)
|
|||||||||||
|
2017
|
|
2016
|
|
Amount
|
|
Percentage
|
|||||||
|
(dollars in thousands)
|
|||||||||||||
Service charges on deposit accounts
|
$
|
2,528
|
|
|
$
|
3,001
|
|
|
$
|
(473
|
)
|
|
(15.8
|
)%
|
Trade finance and other service charges and fees
|
1,047
|
|
|
1,044
|
|
|
3
|
|
|
0.3
|
%
|
|||
Other operating income
|
1,726
|
|
|
1,399
|
|
|
327
|
|
|
23.4
|
%
|
|||
Subtotal service charges, fees and other income
|
5,301
|
|
|
5,444
|
|
|
(143
|
)
|
|
(2.6
|
)%
|
|||
Gain on sale of SBA loans
|
1,464
|
|
|
858
|
|
|
606
|
|
|
70.6
|
%
|
|||
Disposition gains on PCI loans
|
183
|
|
|
659
|
|
|
(476
|
)
|
|
(72.2
|
)%
|
|||
Net gain on sales of securities
|
269
|
|
|
—
|
|
|
269
|
|
|
100.0
|
%
|
|||
Total noninterest income
|
$
|
7,217
|
|
|
$
|
6,961
|
|
|
$
|
256
|
|
|
3.7
|
%
|
|
Three Months Ended March 31,
|
|
Increase (Decrease)
|
|||||||||||
|
2017
|
|
2016
|
|
Amount
|
|
Percentage
|
|||||||
|
(dollars in thousands)
|
|||||||||||||
Salaries and employee benefits
|
$
|
17,104
|
|
|
$
|
15,698
|
|
|
$
|
1,406
|
|
|
9.0
|
%
|
Occupancy and equipment
|
3,982
|
|
|
3,496
|
|
|
486
|
|
|
13.9
|
%
|
|||
Data processing
|
1,631
|
|
|
1,436
|
|
|
195
|
|
|
13.6
|
%
|
|||
Professional fees
|
1,148
|
|
|
1,464
|
|
|
(316
|
)
|
|
-21.6
|
%
|
|||
Supplies and communications
|
635
|
|
|
736
|
|
|
(101
|
)
|
|
-13.7
|
%
|
|||
Advertising and promotion
|
802
|
|
|
522
|
|
|
280
|
|
|
53.6
|
%
|
|||
OREO expense (income)
|
(101
|
)
|
|
465
|
|
|
(566
|
)
|
|
-121.7
|
%
|
|||
Merger and integration costs (income)
|
(31
|
)
|
|
—
|
|
|
(31
|
)
|
|
-100.0
|
%
|
|||
Other operating expenses
|
2,070
|
|
|
2,251
|
|
|
(181
|
)
|
|
-8.0
|
%
|
|||
Total noninterest expense
|
$
|
27,240
|
|
|
$
|
26,068
|
|
|
$
|
1,172
|
|
|
4.5
|
%
|
|
March 31, 2017
|
|
December 31, 2016
|
||||||||||||||||||||
|
Amortized
Cost
|
|
Estimated
Fair
Value
|
|
Unrealized
Gain
(Loss)
|
|
Amortized
Cost
|
|
Estimated
Fair
Value
|
|
Unrealized
Gain
(Loss)
|
||||||||||||
|
(in thousands)
|
||||||||||||||||||||||
Securities available for sale:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Mortgage-backed securities
(1) (2)
|
$
|
262,713
|
|
|
$
|
262,095
|
|
|
$
|
(618
|
)
|
|
$
|
230,489
|
|
|
$
|
229,630
|
|
|
$
|
(859
|
)
|
Collateralized mortgage obligations
(1)
|
87,855
|
|
|
86,928
|
|
|
(927
|
)
|
|
77,447
|
|
|
76,451
|
|
|
(996
|
)
|
||||||
U.S. government agency securities
|
7,499
|
|
|
7,446
|
|
|
(53
|
)
|
|
7,499
|
|
|
7,441
|
|
|
(58
|
)
|
||||||
SBA loan pool securities
|
4,354
|
|
|
4,163
|
|
|
(191
|
)
|
|
4,356
|
|
|
4,146
|
|
|
(210
|
)
|
||||||
Municipal bonds-tax exempt
|
159,203
|
|
|
158,774
|
|
|
(429
|
)
|
|
159,789
|
|
|
158,030
|
|
|
(1,759
|
)
|
||||||
Municipal bonds-taxable
|
1,045
|
|
|
1,037
|
|
|
(8
|
)
|
|
13,391
|
|
|
13,701
|
|
|
310
|
|
||||||
Corporate bonds
|
5,008
|
|
|
5,022
|
|
|
14
|
|
|
5,010
|
|
|
5,015
|
|
|
5
|
|
||||||
U.S. treasury securities
|
155
|
|
|
155
|
|
|
—
|
|
|
156
|
|
|
156
|
|
|
—
|
|
||||||
Mutual funds
|
22,916
|
|
|
22,390
|
|
|
(526
|
)
|
|
22,916
|
|
|
22,394
|
|
|
(522
|
)
|
||||||
Total securities available for sale
|
$
|
550,748
|
|
|
$
|
548,010
|
|
|
$
|
(2,738
|
)
|
|
$
|
521,053
|
|
|
$
|
516,964
|
|
|
$
|
(4,089
|
)
|
(1)
|
Collateralized by residential mortgages and guaranteed by U.S. government sponsored entities.
|
(2)
|
Includes securities collateralized by home equity conversion mortgages with total estimated fair value of
$50.5 million
and
$52.9 million
as of
March 31, 2017
and
December 31, 2016
, respectively.
|
|
|
|
|
|
After One Year But
|
|
After Five Years But
|
|
|
|
|
|
|
|
|
|||||||||||||||||||
|
Within One Year
|
|
Within Five Years
|
|
Within Ten Years
|
|
After Ten Years
|
|
Total
|
|||||||||||||||||||||||||
|
Amount
|
|
Yield
|
|
Amount
|
|
Yield
|
|
Amount
|
|
Yield
|
|
Amount
|
|
Yield
|
|
Amount
|
|
Yield
|
|||||||||||||||
|
|
|
|
|
|
|
|
|
(dollars in thousands)
|
|
|
|
|
|
|
|
|
|||||||||||||||||
Securities available for sale:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|||||||||||||||
Mortgage-backed securities
|
$
|
5,330
|
|
|
1.68
|
%
|
|
$
|
32,191
|
|
|
1.77
|
%
|
|
$
|
100,831
|
|
|
2.15
|
%
|
|
$
|
124,361
|
|
|
2.04
|
%
|
|
$
|
262,713
|
|
|
2.04
|
%
|
Collateralized mortgage obligations
|
—
|
|
|
—
|
%
|
|
485
|
|
|
1.46
|
%
|
|
18,678
|
|
|
1.60
|
%
|
|
68,692
|
|
|
1.72
|
%
|
|
87,855
|
|
|
1.69
|
%
|
|||||
U.S. government agency securities
|
—
|
|
|
—
|
%
|
|
6,000
|
|
|
1.35
|
%
|
|
1,499
|
|
|
2.20
|
%
|
|
—
|
|
|
—
|
%
|
|
7,499
|
|
|
1.52
|
%
|
|||||
SBA loan pool securities
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
4,354
|
|
|
1.72
|
%
|
|
4,354
|
|
|
1.72
|
%
|
|||||
Municipal bonds-tax exempt
(1)
|
—
|
|
|
—
|
%
|
|
5,352
|
|
|
2.64
|
%
|
|
87,752
|
|
|
3.26
|
%
|
|
66,099
|
|
|
4.16
|
%
|
|
159,203
|
|
|
3.61
|
%
|
|||||
Municipal bonds-taxable
|
—
|
|
|
—
|
%
|
|
1,045
|
|
|
3.27
|
%
|
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
1,045
|
|
|
3.27
|
%
|
|||||
Corporate bonds
|
—
|
|
|
—
|
%
|
|
5,008
|
|
|
1.52
|
%
|
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
5,008
|
|
|
1.52
|
%
|
|||||
U.S. treasury securities
|
155
|
|
|
1.20
|
%
|
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
155
|
|
|
1.20
|
%
|
|||||
Mutual funds
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
—
|
|
|
—
|
%
|
|
22,916
|
|
|
2.14
|
%
|
|
22,916
|
|
|
2.14
|
%
|
|||||
Total securities available for sale
|
$
|
5,485
|
|
|
1.67
|
%
|
|
$
|
50,081
|
|
|
1.82
|
%
|
|
$
|
208,760
|
|
|
2.57
|
%
|
|
$
|
286,422
|
|
|
2.45
|
%
|
|
$
|
550,748
|
|
|
2.43
|
%
|
(1)
|
The yield on municipal bonds has been computed on a federal tax-equivalent basis of 35 percent.
|
|
March 31, 2017
|
|
December 31, 2016
|
||||
|
(in thousands)
|
||||||
Real estate loans:
|
|
|
|
||||
Commercial property
|
|
|
|
||||
Retail
|
$
|
909,986
|
|
|
$
|
859,953
|
|
Hospitality
|
652,114
|
|
|
651,158
|
|
||
Gas station
|
256,060
|
|
|
262,879
|
|
||
Other
(1)
|
1,115,898
|
|
|
1,109,656
|
|
||
Construction
|
56,072
|
|
|
55,962
|
|
||
Residential property
|
358,745
|
|
|
338,767
|
|
||
Total real estate loans
|
3,348,875
|
|
|
3,278,375
|
|
||
Commercial and industrial loans:
|
|
|
|
||||
Commercial term
|
135,596
|
|
|
138,168
|
|
||
Commercial lines of credit
|
144,279
|
|
|
136,231
|
|
||
International loans
|
37,807
|
|
|
25,821
|
|
||
Total commercial and industrial loans
|
317,682
|
|
|
300,220
|
|
||
Leases receivable
|
259,591
|
|
|
243,294
|
|
||
Consumer loans
(2)
|
17,803
|
|
|
22,880
|
|
||
Loans and leases receivable
|
3,943,951
|
|
|
3,844,769
|
|
||
Allowance for loan and lease losses
|
(33,152
|
)
|
|
(32,429
|
)
|
||
Loans and leases receivable, net
|
$
|
3,910,799
|
|
|
$
|
3,812,340
|
|
(1)
|
The remaining other real estate categories represent less than one percent of total loans and leases, which, among other property types, include mixed-use, apartment, office, industrial, faith-based facilities and warehouse.
|
(2)
|
Consumer loans include home equity lines of credit of
$16.1 million
and $17.7 million as of March 31, 2017 and December 31, 2016, respectively.
|
|
Balance at March 31, 2017
|
|
Percentage of Loans and Leases
Outstanding
|
|||
|
|
|||||
Industry
|
(in thousands)
|
|
|
|||
Lessor of nonresidential buildings
|
$
|
1,225,887
|
|
|
31.1
|
%
|
Hospitality
|
$
|
668,771
|
|
|
17.0
|
%
|
|
March 31, 2017
|
|
December 31, 2016
|
|
Increase (Decrease)
|
|||||||||
|
|
|
Amount
|
|
Percentage
|
|||||||||
|
|
|
(dollars in thousands)
|
|
|
|||||||||
Nonperforming Non-PCI loans and leases:
|
|
|
|
|
|
|
|
|||||||
Real estate loans:
|
|
|
|
|
|
|
|
|||||||
Commercial property
|
|
|
|
|
|
|
|
|||||||
Retail
|
$
|
397
|
|
|
$
|
404
|
|
|
$
|
(7
|
)
|
|
-1.7
|
%
|
Hospitality
|
5,271
|
|
|
5,266
|
|
|
5
|
|
|
0.1
|
%
|
|||
Gas station
|
994
|
|
|
1,025
|
|
|
(31
|
)
|
|
-3.0
|
%
|
|||
Other
|
2,763
|
|
|
2,033
|
|
|
730
|
|
|
35.9
|
%
|
|||
Residential property
|
552
|
|
|
564
|
|
|
(12
|
)
|
|
-2.1
|
%
|
|||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|||||||
Commercial term
|
822
|
|
|
824
|
|
|
(2
|
)
|
|
-0.2
|
%
|
|||
Leases receivable
|
1,644
|
|
|
901
|
|
|
743
|
|
|
82.5
|
%
|
|||
Consumer loans
|
331
|
|
|
389
|
|
|
(58
|
)
|
|
-14.9
|
%
|
|||
Total nonperforming Non-PCI loans
|
12,774
|
|
|
11,406
|
|
|
1,368
|
|
|
12.0
|
%
|
|||
Loans 90 days or more past due and still accruing
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|||
Total nonperforming Non-PCI loans and leases
(1)
|
12,774
|
|
|
11,406
|
|
|
1,368
|
|
|
12.0
|
%
|
|||
OREO
|
4,636
|
|
|
7,484
|
|
|
(2,848
|
)
|
|
-38.1
|
%
|
|||
Total nonperforming assets
|
$
|
17,410
|
|
|
$
|
18,890
|
|
|
$
|
(1,480
|
)
|
|
-7.8
|
%
|
|
|
|
|
|
|
|
|
|||||||
Nonperforming Non-PCI loans and leases as a percentage of Non-PCI loans and leases
|
0.32
|
%
|
|
0.30
|
%
|
|
|
|
|
|||||
Nonperforming assets as a percentage of assets
|
0.36
|
%
|
|
0.40
|
%
|
|
|
|
|
|||||
Troubled debt restructured performing Non-PCI loans and leases
|
$
|
9,361
|
|
|
$
|
11,146
|
|
|
|
|
|
(1)
|
Includes nonperforming TDRs of $7.6 million and $6.9 million as of
March 31, 2017
and December 31, 2016, respectively.
|
|
March 31, 2017
|
|
December 31, 2016
|
||||||||||
|
Recorded
Investment
|
|
Percentage
|
|
Recorded
Investment
|
|
Percentage
|
||||||
|
(dollars in thousands)
|
||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
||||||
Commercial property
|
|
|
|
|
|
|
|
||||||
Retail
|
$
|
1,661
|
|
|
6.6
|
%
|
|
$
|
1,678
|
|
|
6.4
|
%
|
Hospitality
|
6,175
|
|
|
24.8
|
%
|
|
6,227
|
|
|
23.6
|
%
|
||
Gas station
|
4,918
|
|
|
19.7
|
%
|
|
4,984
|
|
|
18.9
|
%
|
||
Other
|
5,276
|
|
|
21.2
|
%
|
|
6,070
|
|
|
23.0
|
%
|
||
Residential property
|
2,765
|
|
|
11.1
|
%
|
|
2,798
|
|
|
10.6
|
%
|
||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
||||||
Commercial term
|
3,828
|
|
|
15.3
|
%
|
|
4,106
|
|
|
15.6
|
%
|
||
Commercial lines of credit
|
|
|
|
—
|
%
|
|
68
|
|
|
0.3
|
%
|
||
Consumer loans
|
321
|
|
|
1.3
|
%
|
|
419
|
|
|
1.6
|
%
|
||
Total Non-PCI loans and leases
|
$
|
24,944
|
|
|
100.0
|
%
|
|
$
|
26,350
|
|
|
100.0
|
%
|
|
March 31, 2017
|
|
December 31, 2016
|
||||||||||||||||||||
|
Nonaccrual TDRs
|
|
Accrual TDRs
|
|
Total
|
|
Nonaccrual TDRs
|
|
Accrual TDRs
|
|
Total
|
||||||||||||
|
(in thousands)
|
||||||||||||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Retail
|
$
|
—
|
|
|
$
|
1,218
|
|
|
$
|
1,218
|
|
|
$
|
—
|
|
|
$
|
1,228
|
|
|
$
|
1,228
|
|
Hospitality
|
4,993
|
|
|
—
|
|
|
4,993
|
|
|
5,014
|
|
|
—
|
|
|
5,014
|
|
||||||
Gas station
|
—
|
|
|
1,307
|
|
|
1,307
|
|
|
—
|
|
|
1,324
|
|
|
1,324
|
|
||||||
Other
|
1,940
|
|
|
2,780
|
|
|
4,720
|
|
|
1,181
|
|
|
4,318
|
|
|
5,499
|
|
||||||
Residential property
|
—
|
|
|
1,063
|
|
|
1,063
|
|
|
—
|
|
|
1,072
|
|
|
1,072
|
|
||||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||
Commercial term
|
676
|
|
|
2,877
|
|
|
3,553
|
|
|
708
|
|
|
3,017
|
|
|
3,725
|
|
||||||
Commercial lines of credit
|
—
|
|
|
—
|
|
|
—
|
|
|
—
|
|
|
68
|
|
|
68
|
|
||||||
Consumer loans
|
—
|
|
|
116
|
|
|
116
|
|
|
—
|
|
|
119
|
|
|
119
|
|
||||||
Total Non-PCI loans and leases
|
$
|
7,609
|
|
|
$
|
9,361
|
|
|
$
|
16,970
|
|
|
$
|
6,903
|
|
|
$
|
11,146
|
|
|
$
|
18,049
|
|
|
March 31, 2017
|
|
December 31, 2016
|
||||||||||||||||||
|
Allowance
Amount
|
|
Percentage
|
|
Non- PCI Loans and Leases
|
|
Allowance
Amount
|
|
Percentage
|
|
Non- PCI Loans and Leases
|
||||||||||
|
(dollars in thousands)
|
||||||||||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Retail
|
$
|
4,400
|
|
|
13.6
|
%
|
|
$
|
908,432
|
|
|
$
|
4,172
|
|
|
13.3
|
%
|
|
$
|
857,629
|
|
Hospitality
|
9,469
|
|
|
29.4
|
%
|
|
650,518
|
|
|
9,171
|
|
|
29.2
|
%
|
|
649,540
|
|
||||
Gas station
|
1,376
|
|
|
4.3
|
%
|
|
253,437
|
|
|
1,438
|
|
|
4.6
|
%
|
|
260,187
|
|
||||
Other
|
6,949
|
|
|
21.5
|
%
|
|
1,113,851
|
|
|
7,448
|
|
|
23.7
|
%
|
|
1,107,589
|
|
||||
Construction
|
1,458
|
|
|
4.5
|
%
|
|
56,072
|
|
|
1,916
|
|
|
6.1
|
%
|
|
55,962
|
|
||||
Residential property
|
1,108
|
|
|
3.4
|
%
|
|
357,775
|
|
|
1,067
|
|
|
3.4
|
%
|
|
337,791
|
|
||||
Total real estate loans
|
24,760
|
|
|
76.7
|
%
|
|
3,340,085
|
|
|
25,212
|
|
|
80.3
|
%
|
|
3,268,698
|
|
||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial term
|
4,289
|
|
|
13.3
|
%
|
|
135,476
|
|
|
3,961
|
|
|
12.6
|
%
|
|
138,032
|
|
||||
Commercial lines of credit
|
1,257
|
|
|
3.9
|
%
|
|
144,279
|
|
|
1,297
|
|
|
4.1
|
%
|
|
136,231
|
|
||||
International loans
|
368
|
|
|
1.1
|
%
|
|
37,807
|
|
|
324
|
|
|
1.0
|
%
|
|
25,821
|
|
||||
Total commercial and industrial loans
|
5,914
|
|
|
18.3
|
%
|
|
317,562
|
|
|
5,582
|
|
|
17.7
|
%
|
|
300,084
|
|
||||
Leases receivable
|
980
|
|
|
3.0
|
%
|
|
259,591
|
|
|
307
|
|
|
1.0
|
%
|
|
243,294
|
|
||||
Consumer loans
|
122
|
|
|
0.4
|
%
|
|
17,753
|
|
|
191
|
|
|
0.6
|
%
|
|
22,830
|
|
||||
Unallocated
|
485
|
|
|
1.6
|
%
|
|
—
|
|
|
166
|
|
|
0.4
|
%
|
|
—
|
|
||||
Total
|
$
|
32,261
|
|
|
100.0
|
%
|
|
$
|
3,934,991
|
|
|
$
|
31,458
|
|
|
100.0
|
%
|
|
$
|
3,834,906
|
|
|
March 31, 2017
|
|
December 31, 2016
|
||||||||||||||||||
|
Allowance
Amount
|
|
Percentage
|
|
PCI Loans
|
|
Allowance
Amount
|
|
Percentage
|
|
PCI Loans
|
||||||||||
|
(dollars in thousands)
|
||||||||||||||||||||
Real estate loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial property
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Retail
|
$
|
98
|
|
|
11.0
|
%
|
|
$
|
1,554
|
|
|
$
|
122
|
|
|
12.6
|
%
|
|
$
|
2,324
|
|
Hospitality
|
140
|
|
|
15.7
|
%
|
|
1,596
|
|
|
138
|
|
|
14.2
|
%
|
|
1,618
|
|
||||
Gas station
|
531
|
|
|
59.6
|
%
|
|
2,623
|
|
|
589
|
|
|
60.7
|
%
|
|
2,692
|
|
||||
Other
|
—
|
|
|
—
|
%
|
|
2,047
|
|
|
1
|
|
|
0.1
|
%
|
|
2,067
|
|
||||
Residential property
|
73
|
|
|
8.2
|
%
|
|
970
|
|
|
72
|
|
|
7.4
|
%
|
|
976
|
|
||||
Total real estate loans
|
842
|
|
|
94.5
|
%
|
|
8,790
|
|
|
922
|
|
|
95.0
|
%
|
|
9,677
|
|
||||
Commercial and industrial loans:
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||
Commercial term
|
41
|
|
|
4.6
|
%
|
|
120
|
|
|
41
|
|
|
4.2
|
%
|
|
136
|
|
||||
Consumer loans
|
8
|
|
|
0.9
|
%
|
|
50
|
|
|
8
|
|
|
0.8
|
%
|
|
50
|
|
||||
Total
|
$
|
891
|
|
|
100.0
|
%
|
|
$
|
8,960
|
|
|
$
|
971
|
|
|
100.0
|
%
|
|
$
|
9,863
|
|
|
As of and for the Three Months Ended,
|
||||||||||||||||||||||||||||||||||
|
March 31, 2017
|
|
December 31, 2016
|
|
March 31, 2016
|
||||||||||||||||||||||||||||||
|
Non-PCI Loans and Leases
|
|
PCI Loans
|
|
Total
|
|
Non-PCI Loans and Leases
|
|
PCI Loans
|
|
Total
|
|
Non-PCI Loans and Leases
|
|
PCI Loans
|
|
Total
|
||||||||||||||||||
|
(dollars in thousands)
|
||||||||||||||||||||||||||||||||||
Allowance for loan and Lease losses:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Balance at beginning of period
|
$
|
31,458
|
|
|
$
|
971
|
|
|
$
|
32,429
|
|
|
$
|
33,439
|
|
|
$
|
5,533
|
|
|
$
|
38,972
|
|
|
$
|
37,494
|
|
|
$
|
5,441
|
|
|
$
|
42,935
|
|
Actual charge-offs
|
(186
|
)
|
|
—
|
|
|
(186
|
)
|
|
(2,326
|
)
|
|
(4,991
|
)
|
|
(7,317
|
)
|
|
(637
|
)
|
|
—
|
|
|
(637
|
)
|
|||||||||
Recoveries on loans previously charged off
|
989
|
|
|
—
|
|
|
989
|
|
|
623
|
|
|
—
|
|
|
623
|
|
|
253
|
|
|
—
|
|
|
253
|
|
|||||||||
Net loan recoveries
|
803
|
|
|
—
|
|
|
803
|
|
|
(1,703
|
)
|
|
(4,991
|
)
|
|
(6,694
|
)
|
|
(384
|
)
|
|
—
|
|
|
(384
|
)
|
|||||||||
Loan and lease loss provision (income)
|
—
|
|
|
(80
|
)
|
|
(80
|
)
|
|
(278
|
)
|
|
429
|
|
|
151
|
|
|
(1,729
|
)
|
|
204
|
|
|
(1,525
|
)
|
|||||||||
Balance at end of period
|
$
|
32,261
|
|
|
$
|
891
|
|
|
$
|
33,152
|
|
|
$
|
31,458
|
|
|
$
|
971
|
|
|
$
|
32,429
|
|
|
$
|
35,381
|
|
|
$
|
5,645
|
|
|
$
|
41,026
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Allowance for off-balance sheet items:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Balance at beginning of period
|
$
|
1,184
|
|
|
$
|
—
|
|
|
$
|
1,184
|
|
|
$
|
1,491
|
|
|
$
|
—
|
|
|
$
|
1,491
|
|
|
$
|
986
|
|
|
$
|
—
|
|
|
$
|
986
|
|
Provision (income)
|
—
|
|
|
—
|
|
|
—
|
|
|
(307
|
)
|
|
—
|
|
|
(307
|
)
|
|
234
|
|
|
—
|
|
|
234
|
|
|||||||||
Balance at end of period
|
$
|
1,184
|
|
|
$
|
—
|
|
|
$
|
1,184
|
|
|
$
|
1,184
|
|
|
$
|
—
|
|
|
$
|
1,184
|
|
|
$
|
1,220
|
|
|
$
|
—
|
|
|
$
|
1,220
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Ratios:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Net loan and lease charge-offs (recoveries) to average loans and leases
(1)
|
(0.08
|
)%
|
|
—
|
%
|
|
(0.08
|
)%
|
|
0.18
|
%
|
|
157.18
|
%
|
|
0.73
|
%
|
|
0.05
|
%
|
|
0.00
|
%
|
|
0.05
|
%
|
|||||||||
Net loan and lease charge-offs (recoveries) to loans and leases
(1)
|
(0.08
|
)%
|
|
—
|
%
|
|
(0.08
|
)%
|
|
0.18
|
%
|
|
202.41
|
%
|
|
0.70
|
%
|
|
0.05
|
%
|
|
0.00
|
%
|
|
0.05
|
%
|
|||||||||
Allowance for loan and lease losses to average loans and leases
|
0.83
|
%
|
|
9.47
|
%
|
|
0.85
|
%
|
|
0.85
|
%
|
|
7.64
|
%
|
|
0.88
|
%
|
|
1.10
|
%
|
|
28.33
|
%
|
|
1.28
|
%
|
|||||||||
Allowance for loan and lease losses to loans and leases
|
0.82
|
%
|
|
9.94
|
%
|
|
0.84
|
%
|
|
0.82
|
%
|
|
9.84
|
%
|
|
0.84
|
%
|
|
1.08
|
%
|
|
28.46
|
%
|
|
1.24
|
%
|
|||||||||
Net loan and lease charge-offs (recoveries) to allowance for loan and lease losses
(1)
|
(9.96
|
)%
|
|
—
|
%
|
|
(9.69
|
)%
|
|
21.65
|
%
|
|
2056.02
|
%
|
|
82.57
|
%
|
|
4.34
|
%
|
|
0.00
|
%
|
|
3.74
|
%
|
|||||||||
Allowance for loan and lease losses to nonperforming loans and leases
|
252.55
|
%
|
|
—
|
%
|
|
259.53
|
%
|
|
275.80
|
%
|
|
—
|
%
|
|
284.32
|
%
|
|
217.38
|
%
|
|
0.00
|
%
|
|
252.06
|
%
|
|||||||||
Balance:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||||||||||||||||||
Average loans and leases during period
|
$
|
3,884,949
|
|
|
$
|
9,412
|
|
|
$
|
3,881,686
|
|
|
$
|
3,686,013
|
|
|
$
|
12,702
|
|
|
$
|
3,690,955
|
|
|
$
|
3,224,973
|
|
|
$
|
19,925
|
|
|
$
|
3,192,832
|
|
Loans and leases at end of period
|
$
|
3,934,991
|
|
|
$
|
8,960
|
|
|
$
|
3,943,951
|
|
|
$
|
3,834,906
|
|
|
$
|
9,863
|
|
|
$
|
3,844,769
|
|
|
$
|
3,286,644
|
|
|
$
|
19,835
|
|
|
$
|
3,306,479
|
|
Nonperforming loans and leases at end of period
|
$
|
12,774
|
|
|
$
|
—
|
|
|
$
|
12,774
|
|
|
$
|
11,406
|
|
|
$
|
—
|
|
|
$
|
11,406
|
|
|
$
|
16,276
|
|
|
$
|
—
|
|
|
$
|
16,276
|
|
(1)
|
Net loan charge-offs (recoveries) are annualized to calculate the ratios.
|
|
As of and for the Three Months Ended
|
||||||||||
|
Charge-offs
|
|
Recoveries
|
|
Net
Charge-offs (Recoveries)
|
||||||
|
(in thousands)
|
||||||||||
March 31, 2017
|
|
|
|
|
|
||||||
Real estate loans:
|
|
|
|
|
|
||||||
Commercial property
|
|
|
|
|
|
||||||
Hospitality
|
$
|
104
|
|
|
$
|
—
|
|
|
$
|
104
|
|
Gas station
|
—
|
|
|
—
|
|
|
—
|
|
|||
Other
|
—
|
|
|
712
|
|
|
(712
|
)
|
|||
Commercial and industrial loans:
|
|
|
|
|
|
||||||
Commercial term
|
40
|
|
|
277
|
|
|
(237
|
)
|
|||
Leases receivable
|
42
|
|
|
—
|
|
|
42
|
|
|||
Total Non-PCI loans
|
$
|
186
|
|
|
$
|
989
|
|
|
$
|
(803
|
)
|
|
|
|
|
|
|
||||||
March 31, 2016
|
|
|
|
|
|
||||||
Real estate loans:
|
|
|
|
|
|
||||||
Commercial property
|
|
|
|
|
|
||||||
Retail
|
$
|
—
|
|
|
$
|
3
|
|
|
$
|
(3
|
)
|
Hospitality
|
535
|
|
|
—
|
|
|
535
|
|
|||
Gas station
|
—
|
|
|
81
|
|
|
(81
|
)
|
|||
Other
|
—
|
|
|
9
|
|
|
(9
|
)
|
|||
Commercial and industrial loans:
|
|
|
|
|
|
|
|||||
Commercial term
|
2
|
|
|
154
|
|
|
(152
|
)
|
|||
Commercial lines of credit
|
100
|
|
|
6
|
|
|
94
|
|
|||
Total Non-PCI loans
|
$
|
637
|
|
|
$
|
253
|
|
|
$
|
384
|
|
|
March 31, 2017
|
|
December 31, 2016
|
||||||||||
|
Balance
|
|
Percent
|
|
Balance
|
|
Percent
|
||||||
|
(dollars in thousands)
|
||||||||||||
Demand – noninterest-bearing
|
$
|
1,241,272
|
|
|
30.4
|
%
|
|
$
|
1,203,240
|
|
|
31.6
|
%
|
Interest-bearing:
|
|
|
|
|
|
|
|
|
|
|
|||
Demand
|
99,433
|
|
|
2.4
|
%
|
|
96,856
|
|
|
2.5
|
%
|
||
Money market and savings
|
1,534,578
|
|
|
37.6
|
%
|
|
1,329,324
|
|
|
34.9
|
%
|
||
Time deposits of $100,000 or more
|
892,575
|
|
|
21.9
|
%
|
|
844,386
|
|
|
22.2
|
%
|
||
Other time deposits
|
315,307
|
|
|
7.7
|
%
|
|
335,931
|
|
|
8.8
|
%
|
||
Total deposits
|
$
|
4,083,165
|
|
|
100.0
|
%
|
|
$
|
3,809,737
|
|
|
100.0
|
%
|
(1)
|
Includes $476.4 million and $445.4 million of time deposits of $250,000 or more as of March 31, 2017 and December 31, 2016, respectively.
|
|
|
|
|
Hanmi Financial Corporation
|
|
|
|
|
|
Date:
|
May 10, 2017
|
|
By:
|
/s/
C. G. Kum
|
|
|
|
|
C. G. Kum
|
|
|
|
|
President and Chief Executive Officer
(Principal Executive Officer)
|
|
|
|
|
|
|
|
|
By:
|
/s/
Romolo C. Santarosa
|
|
|
|
|
Romolo C. Santarosa
|
|
|
|
|
Senior Executive Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)
|
1 Year Hanmi Financial Chart |
1 Month Hanmi Financial Chart |
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