Hanmi Financial Corporation (NASDAQ:HAFC) Q3 2020 Earnings Conference Call - Final Transcript

Ladies and gentlemen, welcome to Hanmi Financial Corporation's Third Quarter 2020 conference call. [Operator Instructions] Following the presentation the conference will be opened for questions.

I would now like to introduce Mr Lasse Glassen Managing Director at Addo Investor Relations. Please go ahead, sir.

Thank you, operator, and thank you all for joining us today. With me to discuss Hanmi Financial's third quarter 2020 earnings are Bonnie Lee, President and Chief Executive Officer; Anthony Kim, Chief Banking Officer; and Ron Santarosa, Chief Financial Officer. Ms. Lee will begin with an overview of the quarter. Mr. Kim will then discuss loan and deposit activities, and Mr. Santarosa will then provide more details on our operating performance. At the conclusion of our prepared remarks, we will open the session for questions. In today's call, we may include comments and forward-looking statements based on current plans and expectations, events, and financial industry trends that may affect the company's future operating results and financial position. Our actual results could be different from those expressed or implied by our forward-looking statements, which involve risks and uncertainties. The speakers on this call claim the protection of the safe harbor provisions contained in the Securities Litigation Reform Act of 1995. For a listing of certain factors that may cause our results to differ from our expectations, please refer to our SEC filings, including our most recent Forms 10-K and 10-Q. In particular, we direct you to the discussion of certain risk factors affecting our business contained in our earnings release, our investor presentation and our Form 10-K. This afternoon, Hanmi Financial issued a news release outlining our financial results for the third quarter of 2020, along with a supplemental slide presentation to accompany today's call. Both documents can be found in the Investor Relations section of our website at hanmi.com.

I will now turn the call over to Bonnie Lee. Bonnie?

Thank you, Lasse. Good afternoon, everyone. Thank you for joining us today to discuss Hanmi's 2020 third quarter results. In light of the challenges we have encountered throughout much of 2020, I am extremely pleased with how the bank is currently positioned and the strong performance the Hanmi team delivered in the third quarter. Highlights included strong earnings growth, solid loan production and careful noninterest expense management. In addition, the proactive steps we took earlier in the year to protect our loan portfolio and support our customers that have been impacted by the COVID-19 pandemic has been very successful. While we continue to closely monitor the impact of the pandemic on the banking industry and the fundamentals of our business, we are concurrently taking steps to provide additional products and services and safely drive profitable future growth. Overall, I believe Hanmi is well positioned as we look ahead to the fourth quarter and beyond. With that as a backdrop, the following are some of the key financial and operational takeaways for the third quarter. Net income was solidly higher on both a linked-quarter and year-over-year basis. In