Hanmi Financial Corporation, Q3 2008 Earnings Call Transcript

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2008-10-24 14:31:08.0

Tags: Merrill Lynch & Co. Inc., Deposit, Call Transcript, Inflow, Earnings, Financial Accounting, Finance, Seeking Alpha, Merrill Lynch & Co. Inc., Deposit, Call Transcript, Inflow, Earnings, Financial Accounting, Finance, Seeking Alpha, Hanmi Financial Corp.

Question-and-Answer Session

Operator

(Operator Instructions). Our first question comes from the line of [Ella Blister] You may proceed.

Ella Blister

Hi, guys.

Jay Yoo

How are you?

Ella Blister

Good. How are you?

Jay Yoo

Good. Thank you.

Brian Cho

Fine.

Ella Blister

I was just wondering if you have a core EPS number for Q3?

Brian Cho

In the EPS, $0.09?

Ella Blister

A core number excluding all of your charges such as your Lehman expenses?

Brian Cho

The expenses are different types and I would indicated in investment securities related to the losses all together, I may say $4.2 million, so we are talking about $0.06, so nine plus six, $0.15.

Ella Blister

About $0.15?

Brian Cho

That's right.

Ella Blister

Okay, thank you. That's all I have.

Brian Cho

Thank you very much.

Operator

Our next question comes from the line of Erika Penala with Merrill Lynch. You may proceed.

Brian Cho

Hi Erika.

Elana - Merrill Lynch

Hi, this is actually Elana, I'm sitting in for Erika.

Brian Cho

Okay.

Elana - Merrill Lynch

I just have a really quick question. So I know that you talked earlier about your deposits. I was wondering if you could provide a little bit more color on the inflow and outflow trends. Looking at your earnings release it looks like the outflows is for more your expensive deposit products or could you just kind of confirm and elaborate on these trends?

Brian Cho

Well, there is of course more outflow than inflows. And the time deposit decreased a lot and so I may say from both expensive time deposits because such deposit also has more than $2 million aerially concern about the safety of their deposits. So, those are the two main part I have been looking out officially they offer the promotional rate higher than usual rate. Does that answer you?

Elana - Merrill Lynch

Yeah. I guess I also was wondering that I didn't see a DDA average balance on the press release. I was wondering what sort of -- was there an inflow and outflow in that deposit category?

Brian Cho

Well, credit deposits in previous also probably about 15%. The average balance appears from margin analysis on our -- based on our earnings release and -- but the main decrease was made in the part of time deposits. Time deposits, we have a total balance over $1.4 billion. September the last year it was about $1.7 billion. So, main reduction was made in that area and CDI decrease was relatively small. And money market accounts have increased. It is presented in our earnings release, it is part of the composition on page 9.

 

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