At a glance
Hanmi Financial Corporation is worth $969.5M, about 13 times its fiscal 2025 earnings. Revenue grew 15.3% to $270.2M in fiscal 2025, with 28.2% kept as profit; over 5 years it has grown 3.8% a year. It pays a 3.39% dividend yield, and returned $164.6M to shareholders in dividends and buybacks over FY2021–FY2025. The stock returned +24.4% over the past year with dividends reinvested and +13.3% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 53.0% in the 2020 crash (S&P 500: 33.7%) and 20.4% in the 2022 bear market (S&P 500: 24.5%), and was back at its earlier high 11 months and 2 months after the lows.
The business in plain English
Hanmi Financial is the holding company for Hanmi Bank, a Los Angeles community bank incorporated in California in 1981. The bank serves the Korean-American community and other multi-ethnic communities in California, Colorado, Georgia, Illinois, New Jersey, New York, Texas, Virginia and Washington. It has long focused on small and medium-sized businesses. Its offices sit in markets where many businesses are owned by immigrants and other minority groups. Its main rivals are other community banks that target the same customers.
Lending drives the business. In fiscal 2025, interest and fees on loans made up 84.5% of Hanmi's $444.9 million in total revenue, counted before interest paid to depositors. Interest on securities added 6.0%. Service charges, fees and other income added 5.4%. Gains on sales of loans partly guaranteed by the US Small Business Administration (SBA) added 1.8%. Net interest income, the gap between interest earned and interest paid, was $236.2 million. Noninterest income was $34.0 million.
Real estate dominates the loan book. As of December 31, 2025, commercial property loans were 61.2% of total loans, residential mortgages 16.0%, business (commercial and industrial) loans 16.4% and equipment financing 6.2%. Loans on retail properties alone were 17.3% of the total, and hospitality loans were 12.9%. California is the core market, with 69.4% of investor-owned commercial property loans.
Price history
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HAFC +24.4% over the year to Oct 28, 2026, total return with dividends reinvested.
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $72.2M, up 10.7% from a year earlier, and net income was $23.5M (+55.5%).
- For fiscal 2025, revenue was $270.2M (+15.3% year over year; +3.8% a year from FY2020 to FY2025) with a 28.2% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +3.8% watch |
|---|---|
| Return on equity | 9.6% watch |
| Net income / revenue | 28.2% good |
| Deposits | $6.96B |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $224.0M | $42.2M | — |
| FY2021 | $235.5M | $98.7M | — |
| FY2022 | $271.8M | $101.4M | — |
| FY2023 | $255.4M | $80.0M | — |
| FY2024 | $234.4M | $62.2M | — |
| FY2025 | $270.2M | $76.1M | — |
Valuation snapshot
| Market value | $969.5M |
|---|---|
| P/E ratio | 13 |
| Dividend yield | 3.39% |
Rank among 1514 US companies
Market value at each year end
Hanmi Financial’s market value went from $1.13B at the end of 2016 to $969.5M on Oct 28, 2026, down 14%; since the end of 2025 it is up 20%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $969.5M | +19.7% |
| 2025 | $809.7M | +13.5% |
| 2024 | $713.2M | +21.0% |
| 2023 | $589.7M | -21.9% |
| 2022 | $754.5M | +4.8% |
| 2021 | $720.1M | +106.7% |
| 2020 | $348.4M | -44.0% |
| 2019 | $622.1M | -0.6% |
| 2018 | $626.1M | -36.4% |
| 2017 | $983.6M | -12.7% |
| 2016 | $1.13B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| HAFC price data to Oct 28, 2026 | +24.5% | +24.4% | +38.6% | +13.3% | +7.3% |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +24.4% |
| 2025 | +19.7% |
| 2024 | +28.8% |
| 2023 | -17.1% |
| 2022 | +8.4% |
| 2021 | +114.5% |
| 2020 | -40.9% |
| 2019 | +6.2% |
| 2018 | -32.6% |
| 2017 | -10.7% |
| 2016 | +51.3% |
| 2015 | +10.9% |
| 2014 | +1.2% |
| 2013 | +62.3% |
| 2012 | +83.7% |
| 2011 | -16.4% |
| 2010 | -4.2% |
| 2009 | -41.8% |
| 2008 | -75.8% |
| 2007 | -60.8% |
| 2006 | +27.7% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Lost 95.2% over that stretch · deepest drop along the way 95.3%, not recovered by the end of the data |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Lost 51.1% over that stretch · deepest drop along the way 53%, back to its old high 11.2 months after the low |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Gained 2.2% over that stretch · deepest drop along the way 20.4%, back to its old high 1.9 months after the low |
Insider activity
Form 4 filings from 2025-10-30 to 2026-10-30 (25 read): 0 open-market purchases and 2 sales ($266K).
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 8, 2026 | Anthony I. Kim Chief Banking Officer | sell | $164K |
| Apr 28, 2026 | Matthew Fuhr Chief Credit Officer | sell | $102K |
Who owns it
Large shareholders (13G filings)
| STATE STREET CORPORATION | 5.2% | Mar 31, 2026 |
| Vanguard Capital Management | 5.11% | Mar 31, 2026 |
| FMR LLC | 1.9% | Dec 31, 2025 |
ETFs with the most weight in HAFC
| MYLD Cambria Micro and SmallCap Shareholder Yield ETF | 1.05% |
| SVAL iShares US Small Cap Value Factor ETF | 0.56% |
| DGRS WisdomTree US Smallcap Quality Dividend Growth Fund | 0.46% |
| ROSC Hartford Multifactor Small Cap ETF | 0.44% |
| HEJD VictoryShares Hedged Equity Income ETF | 0.42% |
| QABA First Trust NASDAQ ABA Community Bank Index Fund | 0.36% |
| TMSL T. Rowe Price Small-Mid Cap ETF | 0.27% |
| JMEE JPMorgan Small & Mid Cap Enhanced Equity ETF | 0.22% |
What could go wrong
- Heavy tilt toward commercial lending. Commercial real estate and business loans made up 77.8% of total loans as of December 31, 2025. Repayment hinges on rents or business profits, and foreclosed commercial property is slower to turn into cash.
- Concentration in landlords, hospitality and retail. As of December 31, 2025, loans to landlords of non-residential buildings were 23.8% of total loans, hospitality 12.9% and retail businesses 5.3%. A slump in these industries, including from remote work, could hurt repayment.
- Southern California property downturn. Real estate loans were 77.4% of total loans as of December 31, 2025, and 69.4% of investor-owned commercial property loans were in California. A Southern California property or economic slump would hit hard.
- Ties to South Korea and tariffs. The bank's primary market is the Korean-American community. Its 10-K warns that changing conditions in South Korea, tariffs on South Korea and supply-chain disruptions for customers could hurt its business.
- Extra regulatory scrutiny of property lending. Commercial real estate loans exceeded 300% of the bank's capital as of December 31, 2025. Regulators watch that level and could require extra controls or curbs on property lending, hurting loan growth and profits.
- Interest rate swings can squeeze profits. Interest is the main source of income. If rates paid on deposits rise faster than rates earned on loans, or loan yields fall faster, net interest income can shrink. Higher rates can also strain borrowers.
Recent events
- Other company announcement
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- Investor presentation or announcement
- Major agreement signed; New debt or financial obligation; Investor presentation or announcement; Other company announcement
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- Quarterly results released
- Executive or board change; Shareholder vote results
- Investor presentation or announcement
- Other company announcement
For income and retirement investors
Dividends were $1.08 per share for fiscal 2025, up from $1.00 in fiscal 2023 and 2024 and $0.52 in fiscal 2020. That works out to growth of 15.7% a year. The payout was flat in fiscal 2024, so the run of consecutive increases is one year. Dividends took 42.9% of fiscal 2025 earnings. The dividend yield (yearly dividends divided by the share price) was 3.39% as of October 28, 2026. Buybacks are modest: $25.9 million over fiscal 2021–2025, versus $138.7 million in dividends. The share count fell 3.4% from August 2021 to July 2026.
The stock has fallen hard in downturns. In the 2008 financial crisis it lost about 95% from peak to trough and had not recovered as of October 28, 2026. It fell 53% in the 2020 COVID crash and took about 11 months to recover. It fell 20.4% in the 2022 bear market and recovered in about two months. Like any single stock, Hanmi carries more risk than a diversified fund.
Questions investors ask
How does Hanmi Financial make money?
Mostly by lending. In fiscal 2025, interest and fees on loans made up 84.5% of Hanmi's total revenue. Most of the rest came from interest on securities, service charges and fees, and gains on sales of Small Business Administration (SBA) and residential mortgage loans. Net interest income, the gap between interest earned and interest paid on deposits and borrowings, was $236.2 million. Net income was $76.1 million, up 22.3% from fiscal 2024.
Is Hanmi Bank a Korean bank?
No. Hanmi Bank is a US community bank, incorporated in California in 1981. Its deposits are insured by the Federal Deposit Insurance Corporation (FDIC) up to legal limits. Its parent, Hanmi Financial, is a Delaware company based in Los Angeles. The bank's primary market is the Korean-American community and other multi-ethnic communities in states including California, Texas, New York, Illinois and Georgia. Its 10-K warns that conditions in South Korea, including tariffs, could still affect its business.
What is Hanmi Financial's dividend yield?
The dividend yield (yearly dividends divided by the share price) was 3.39% as of October 28, 2026. Hanmi paid $1.08 per share for fiscal 2025, against diluted earnings of $2.51 per share. Dividends paid equaled 42.9% of net income. Keeping the rest helps a bank build the capital it needs to lend. The 10-K notes that Hanmi Financial's own dividend depends on payments from Hanmi Bank, and those payments could be restricted.
Does Hanmi Financial raise its dividend every year?
No. Hanmi's dividend rose from $0.52 per share in fiscal 2020 to $0.54 in fiscal 2021, $0.94 in fiscal 2022 and $1.00 in fiscal 2023. It then held at $1.00 in fiscal 2024 before rising to $1.08 in fiscal 2025. Because of that flat year, the run of consecutive annual increases is one year. Over fiscal 2020–2025, regular dividends per share grew 15.7% a year. No special dividends were paid in that span.
How much commercial real estate risk does Hanmi Financial have?
Commercial real estate is Hanmi's biggest exposure. As of December 31, 2025, commercial property loans were 61.2% of total loans. Retail properties made up 17.3% of total loans and hospitality 12.9%. Office was 7.7%, down from 9.1% a year earlier. Investor-owned property loans had an average loan-to-value ratio (loan size divided by property value) of 48.7%. On average, property income covered loan payments 2.04 times. Those cushions can shrink if rents or property values fall.