From a capital base of just $5 million when it was founded in 1982, Hanmi now has over $450 million in shareholders' equity and is the largest Korean-American commercial bank in the country. 2006 was the most successful year in Hanmi's history, with net income of $66 million and total assets at year-end of $3.7 billion.
While still predominantly Korean-American, the bank's growing client base increasingly reflects the multi-ethnic composition of California. With a focus on small to mid-size business customers, Hanmi's 23 full-service branch offices and its expanding network of loan production offices offer a wide range of corporate and individual banking services, including commercial and industrial loans, residential and commercial real estate loans, checking and savings accounts, retirement and education plans, SBA-guaranteed programs, trade finance services, and non-banking products including investment programs, and life, property and health insurance.
Recently announced changes in the bank's management structure are designed to foster competition among its branches and promote stronger growth in deposits and loan originations. Key to growth in 2007 and beyond will be the addition of new products and services that will be instrumental in transforming Hanmi from a community bank into a regional financial services institution able to meet the diverse needs of a variety of ethnic groups.
