Hanmi Financial Corporation Misses Expectations

Hanmi Financial Corporation's HAFC 3Q10 net loss of $14.6mm “missed our expectations, which were for a loss of $10.3mm,” Keefe, Bruyette & Woods reports. Problem credit reduction is still a primary focus of management, and loans and deposits are shrinking. “But, we also think that once the Woori investment closes, Hanmi will once again be competitive after integration is achieved,” Keefe, Bruyette & Woods writes. “Updating estimates, leaving PT unchanged, reiterating at MP.” Hanmi Financial Corporation currently trades at $1.17.