Hanmi Financial Corp Q4 2007 Earnings Call Transcript

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2008-02-12 20:03:09.0

Tags: Hanmi Financial Corp.

Question-and-Answer Session

Operator

(Operator instructions).

And your first question comes from the line of Brett Rabatin from FTN Midwest. Please proceed.

Brett Rabatin

Good afternoon. A couple of questions I wanted to ask are qualities. First, given the commentary in the press release and your comments earlier, can you give us a level for the classified loans; special mention on any numbers other than the delinquent loan levels you indicated in the press release?

Brian Cho

Yes, I hope at least that at a minimum that it has increased a lot during the fourth quarter and total delinquent amount at the end of last year was $45 million; it is $10 million less than the end of the third quarter. However, hopefully the loans amount increased to $55 million (inaudible) at the end of third quarter.

Brett Rabatin

Yeah. You know, I understand that Brian, I am just trying to, given your commentary in the press release about what you are saying in terms of weaknesses and downgrades, and classificational loans, and I know special mention you can have a lot of stuff on their movement in and out, but can you give us any color on those loans and then I also did not quite understand the numbers that you had for the past, for the delinquent loans, as I look at the last quarter, if you look at least at regulatory filings, you had about 16.8 million in 30 day on past due and I am curious to know what goes into that "delinquent" loans box?

Brian Cho

Actually, our special mention on loans increased to $156 million from $68 million at the end of September 2007, and then our substandard loan amount increased to $90 million from $69 million, so that I will criticize and classify the loan amount as increased during the last quarter. And in terms of delinquent loans, over 30 days it has the loan amount as $21 million and a total delinquent amount is $45 million.

Brett Rabatin

Okay, the 21 million (inaudible) to at yearend. Is that the number you are getting me, Brian?

Chung Hoon Youk

This is Chung Hoon Youk.

Brett Rabatin

Oh I am sorry; my apologies. Okay, let me just move on to a different question. I did not catch the SBA sales for the quarter. How much? Obviously, it looks like you have sold $30 or $35 million this quarter compared to about $17 million last quarter. Can you give me the production and the actual dollar amount of SBA sales?

 

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