Hanmi Bank

Last updated
Hanmi Financial Corporation
Company type Public
Nasdaq:  HAFC
S&P 600 Component
Industry Banking
Founded1982;42 years ago (1982)
Headquarters Los Angeles, California, United States
Key people
Bonnie Lee (president and CEO)
Revenue$5.57 billion[ citation needed ]
Number of employees
611
Korean name
Hangul
한미은행
Hanja
韓美銀行
Revised Romanization Hanmi Eunhaeng
McCune–Reischauer Hanmi Ŭnhaeng
Website hanmi.com

Hanmi Bank Corporation is a community bank headquartered in Los Angeles, California, with 35 branches and eight loan production offices in California, Texas, Illinois, New York, New Jersey and Virginia.

Contents

Hanmi Bank specializes in real estate, commercial, Small Business Administration loans and trade finance lending to small and middle market businesses. It is a wholly owned subsidiary of Hanmi Financial Corporation, Inc.

In 2023, Hanmi Bank was ranked #9 on Bank Director's Top 25 U.S. Banks list. [1]

History

The bank was established in 1982. Originally it was founded to serve the Korean American community in Los Angeles. [2]

The bank was founded by George S. Chey, [3] who served as Chairman of the Board for 10 years after its startup.

In 1987, the Hanmi Bank conducted its IPO and is listed on Nasdaq.[ citation needed ]

The bank bought the First Global Bank and the Pacific Union Bank and the Chun Ha Insurance Agency.[ when? ] In 2001, the company listed on Nasdaq. Subsequently, the bank expanded to include insurance and wealth management services.[ citation needed ]

In 2014, it acquired United Central Bank. [4]

In 2015, it dropped its bid to acquire the larger BBCN Bancorp, paving the way for BBCN to merge with another Koreatown rival, Wilshire Bancorp, as Bank of Hope. [5]

Related Research Articles

Washington Mutual, Inc. was an American savings bank holding company based in Seattle. It was the parent company of Washington Mutual Bank, which was the largest savings and loan association in the United States until its collapse in 2008.

East West Bank is an American bank that is the primary subsidiary of East West Bancorp, Inc. It is the largest publicly traded bank headquartered in Southern California, ranking 42nd on the list of largest banks in the United States.

<span class="mw-page-title-main">U.S. Bancorp</span> American bank holding company

U.S. Bancorp is an American bank holding company based in Minneapolis, Minnesota, and incorporated in Delaware. It is the parent company of U.S. Bank National Association, and is the fifth largest banking institution in the United States. The company provides banking, investment, mortgage, trust, and payment services products to individuals, businesses, governmental entities, and other financial institutions. As of 2019, it had 3,106 branches and 4,842 automated teller machines, primarily in the Western and Midwestern United States. In 2023 it ranked 149th on the Fortune 500, and it is considered a systemically important bank by the Financial Stability Board. The company also owns Elavon, a processor of credit card transactions for merchants, and Elan Financial Services, a credit card issuer that issues credit card products on behalf of small credit unions and banks across the U.S.

<span class="mw-page-title-main">Comerica</span> American financial services company

Comerica Incorporated is an American financial services company, headquartered in Dallas, Texas. It is the parent of Comerica Bank, a regional commercial bank with 413 branches in the U.S. states of Texas, Michigan, California, Florida and Arizona. Comerica is among the largest U.S. financial holding companies, with offices in a number of U.S. cities.

United Commercial Bank was an overseas Chinese bank in the United States, based in San Francisco, California. It was a subsidiary of UCBH Holdings. Founded in 1974 as United Federal Savings and Loan Association, it changed its name to United Savings Bank, and finally United Commercial Bank in 1998. It had operations and branches located in the San Francisco Bay Area, Sacramento, Stockton, Los Angeles and Orange counties, New York, Boston, Greater Seattle Area, Hong Kong, Atlanta, Houston, Shanghai and two representative branches in Taipei, Taiwan and Shenzhen, China. United Commercial Bank was closed by regulators on November 6, 2009; it was the 120th U.S. bank to fail in 2009, and it had $11.2 billion in assets at the time of the bank failure. East West Bank of Pasadena, California, acquired all the deposits of UCBH.

<span class="mw-page-title-main">Republic Bank & Trust Company</span> American Bank

Republic Bank & Trust Company is a Louisville, Kentucky-based bank.

<span class="mw-page-title-main">Flagstar Bank</span> American bank

Flagstar Bank is an American commercial bank headquartered in Troy, Michigan. A wholly owned subsidiary of New York Community Bank, Flagstar is one of the largest residential mortgage servicers in the United States, and was among the largest banks in the United States prior to its acquisition in 2022.

<span class="mw-page-title-main">BankAtlantic</span> Former Florida bank

BankAtlantic was a US bank that operated in the state of Florida until it was acquired in 2012 by BB&T Corporation. It provided consumer and business banking services to communities throughout Florida.

<span class="mw-page-title-main">MUFG Union Bank</span> Defunct American bank

Union Bank was an American national bank with 398 branches in California, Washington, and Oregon. It was owned by MUFG Americas Holdings Corporation and was acquired by U.S. Bancorp in December 2022. It was headquartered in New York City and had commercial branches in Dallas, Houston, New York City, and Chicago, and two international offices.

<span class="mw-page-title-main">First Interstate Bancorp</span> Defunct American bank holding company

First Interstate Bancorp was a bank holding company based in the United States. Headquartered in Los Angeles, it was the nation's eighth largest banking company.

<span class="mw-page-title-main">WSFS Bank</span> American financial services corporation

WSFS Financial Corporation is a financial services company. Its primary subsidiary, WSFS Bank, a federal savings bank, is the largest and longest-standing locally managed bank and trust company headquartered in Delaware and the Greater Delaware Valley. WSFS operates from 114 offices, 88 of which are banking offices, located in Pennsylvania (57), Delaware (39), New Jersey (14), Florida (2), Virginia (1) and Nevada (1) and provides comprehensive financial services including commercial banking, retail banking, cash management and trust and wealth management.

<span class="mw-page-title-main">Cadence Bank</span> American commercial bank

Cadence Bank is a commercial bank with dual headquarters in Tupelo, Mississippi, and Houston, Texas, with operations in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, Oklahoma, Tennessee, Texas, and Illinois. In 1876, Raymond Trice and Company received a charter to create a bank in its hardware store in Verona, Mississippi. In 1886, the banking operation was moved to Tupelo, Mississippi and the company was renamed to Bank of Lee County, Mississippi. Soon after, it was renamed to the Bank of Tupelo. The bank was renamed to Bank of Mississippi in 1966. In 1997, the bank changed its name to BancorpSouth. In October 2021, the bank changed its name to Cadence Bank. It has the naming rights to Cadence Bank Amphitheatre in Atlanta and Cadence Bank Arena in Tupelo.

<span class="mw-page-title-main">PacWest Bancorp</span> American bank holding company

PacWest Bancorp is an American bank holding company based in Beverly Hills, California, with one wholly owned banking subsidiary, Pacific Western Bank. It is a subsidiary of Banc of California.

<span class="mw-page-title-main">Glacier Bancorp</span> U.S. banking company

Glacier Bancorp, Inc. is a regional multi-bank holding company headquartered in Kalispell, Montana, United States. It is a successor corporation to the Delaware corporation originally incorporated in 1990. The company provides personal and commercial banking services from 221 locations in Montana, Idaho, Utah, Washington, Wyoming, Colorado, Arizona, and, Nevada.

Atlantic Coast Financial Corporation was an American publicly traded bank holding company headquartered in Jacksonville, Florida and listed on the NASDAQ Stock Market, which wholly owned Atlantic Coast Bank. In 2018, Ameris Bancorp completed its acquisition of Atlantic Coast Bank. The banks services were focused primarily on personal banking and business banking in the Northeast Florida, Central Florida and Southeast Georgia regions. The company has been recognized by the Jacksonville Business Journal as one of north Florida's "Best Places to Work" in both 2015 and 2016, and was also selected as one of Florida's "Best Companies" by Florida Trend Magazine in July 2016.

The Nasdaq Financial-100 (^IXF) is a stock market index operated by Nasdaq consisting of companies that are listed on the Nasdaq stock exchange and that are in the financial services industry, including banking, insurance, mortgages and securities trading. It was created in 1985 as the sister index to the more widely followed Nasdaq-100.

<span class="mw-page-title-main">Ameris Bancorp</span> Publicly traded banking company

Ameris Bancorp is a bank holding company headquartered in Atlanta, Georgia. Through its bank subsidiary, Ameris Bank, the company operates full-service branches in Georgia, Alabama, Florida, North Carolina and South Carolina, and mortgage-only locations in Georgia, Alabama, Florida, North Carolina, South Carolina, Virginia, Maryland, and Tennessee.

<span class="mw-page-title-main">CBB Bank</span> Korean American bank

CBB Bank is an American bank that operates in the states of California, Texas and Hawaii providing commercial and personal banking services to the Korean-American community. It owned by the holding company CBB Bancorp, Inc.

PCB Bank is an American community bank that focuses on the Korean-American community based in California and offers commercial banking services. It has branches in 8 states and is the third largest Korean American Bank after Bank of Hope and Hanmi Bank.

<span class="mw-page-title-main">Open Bank</span> Korean American bank

Open Bank is an American community bank based in California that focuses on the Korean American community. The bank offers commercial banking services.

References

  1. Research Group, Bank Director (August 14, 2023). "2023 RankingBanking: The Best Banks Played Defense" (PDF). Bank Director. Retrieved May 17, 2024.
  2. "COMPARATIVE ANALYSIS OF KOREAN BANKS' PERFORMANCE". Scholarworks.calstate.edu. Retrieved 24 July 2022.
  3. [ permanent dead link ]
  4. "Hanmi Financial Corp. Acquires United Central Bank". Los Angeles Business Journal. Retrieved 14 April 2020.
  5. James Rufus Koren (December 17, 2015). "Hanmi bank withdraws bid for rival Koreatown lender". Los Angeles Times.