The Newsroom

Investigations  /  05.14.2020

Investigation of Hanmi Financial Corporation

You Have Legal Options

Hanmi Financial Corporation (HAFC) Suffers Large Loan and Lease Losses 

On August 12, 2019, Hanmi announced that it would be unable to timely file its quarterly report due to an evaluation of “the classification of a single $40.7 million credit relationship… and the related adjustment to the allowance for loan and lease losses.” Then, on January 28, 2020, Hanmi reported net income of $3.1 million for the quarter, including an additional “$6.9 million specific provision for loan and lease losses related to a previously identified $39.7 million troubled loan relationship.” To secure the loan relationship, Hanmi disclosed that the Company “received current appraisals on the personal property… and have provided for a specific allowance in the lower range of the appraised values.” Since this news, Hanmi’s stock price has fallen 54%, currently trading at around $8.50 per share.

  • If you would like more information about your rights and potential remedies please send us a message. 

  • Please Note: Neither the submission to nor the receipt of information by Robbins LLP or one of its attorneys through this website constitutes an agreement by our firm to represent the individual and does not create an attorney-client relationship. Please do not send confidential or sensitive information through this website. This information should be communicated through a direct contact with an individual at the firm.


How can we help you?

CONTACT US TODAY | 1 800 350 6003 or [email protected]

Tell us your concerns