Mission Statement, Vision, & Core Values of Hanmi Financial Corporation (HAFC)

What drives a company forward? Is it just the pursuit of profit, or is there something more profound at play? For Hanmi Financial Corporation (HAFC), the answer lies in a carefully crafted blend of mission, vision, and core values. These guiding principles shape the bank's identity and influence its strategic decisions. But how do these abstract concepts translate into tangible results, especially when Hanmi reported a net income of $62.2 million, or $2.05 per diluted share, for the full year of 2024?

Understanding Hanmi's mission, vision, and core values provides valuable insight into the bank's priorities and long-term goals. How do these elements align with their commitment to serving multi-ethnic communities through its network of 32 full-service branches and 8 loan production offices across California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington and Georgia? Read on to explore the foundational principles that steer Hanmi Financial Corporation.

Hanmi Financial Corporation (HAFC) An Overview of

Hanmi Financial Corporation, established in 1982, operates as the bank holding company for Hanmi Bank. Serving the diverse ethnic communities across California, Texas, Illinois, Virginia, New Jersey, New York, and Washington, Hanmi Bank delivers a full array of financial products and services. These include commercial loans, SBA loans, consumer loans, and deposit products, catering to businesses and individuals alike. As of April 2025, Hanmi continues to build on its legacy of community-focused banking, leveraging its extensive branch network and digital platforms to meet the evolving needs of its customer base.

In the fiscal year 2024, Hanmi Financial Corporation demonstrated robust financial performance. The company reported total revenue of $285.3 million. This revenue was supported by a strong net interest income of $234.7 million and non-interest income of $50.6 million. Hanmi's strategic focus on key markets and diverse financial services offerings have been pivotal in achieving these results. The company's earnings per share (EPS) stood at $2.89, reflecting efficient operations and profitability.

Hanmi Financial Corporation stands as a leader in the financial services sector, particularly within the Korean-American community. To discover more about Hanmi Financial Corporation, explore Exploring Hanmi Financial Corporation (HAFC) Investor Profile: Who’s Buying and Why? and gain deeper insights into the factors driving its success:

• Comprehensive Financial Services: Hanmi Bank provides a wide range of financial solutions, including commercial, SBA, and consumer loans, alongside various deposit products.
• Extensive Branch Network: With branches strategically located in key states such as California, Texas, Illinois, Virginia, New Jersey, New York, and Washington, Hanmi serves diverse ethnic communities effectively.
• Strong Financial Performance: The company has demonstrated robust financial results, driven by strategic market focus and diverse service offerings.

Hanmi Financial Corporation (HAFC) Mission Statement

Hanmi Financial Corporation, the holding company for Hanmi Bank, is dedicated to providing quality financial services. Established in 1982 by Korean immigrants, Hanmi Bank's mission is to support the American dream by offering expertise in business banking to multi-ethnic communities across its network.

Hanmi Bank operates with 32 full-service branches and 8 loan production offices across 9 states, including California, Texas, Illinois, Virginia, New Jersey, New York, Colorado, Washington, and Georgia.

The mission statement reflects a commitment to:

• Providing quality financial services
• Supporting the American dream
• Being experts in business banking
• Serving multi-ethnic communities

This dedication extends to offering a wide array of products and services, including:

• SBA Lending
• Commercial Real Estate Lending
• Equipment Leasing
• Specialty Lending
• Treasury Management Services

Hanmi aspires to be the bank of choice for those seeking to achieve their dreams, emphasizing long-term corporate value through investment in the communities it serves.

Here is a relevant link to further explore Hanmi Financial Corporation: Exploring Hanmi Financial Corporation (HAFC) Investor Profile: Who’s Buying and Why?

Core Components of Hanmi's Mission Statement

Hanmi Financial Corporation's mission statement encompasses several core components that guide its operations and strategic goals.

1. Quality Financial Services

Hanmi Bank is committed to providing a wide range of financial products and services tailored to meet the diverse needs of its customers. This includes:

• Commercial lending
• SBA (Small Business Administration) lending
• Trade finance
• Consumer lending

These services are designed to support small and middle-market businesses, ensuring they have access to the capital and resources needed for growth and success.

2. Supporting the American Dream

Founded on the principles of helping Korean immigrants achieve their dreams, Hanmi Bank extends this mission to all Americans. This commitment involves:

• Providing financial solutions that enable individuals and businesses to thrive
• Offering personalized, relationship-based service
• Supporting local communities through investments and partnerships

Hanmi aims to be a trusted partner, offering support at every step, from initial business setup to long-term growth.

3. Expertise in Business Banking

Hanmi Bank prides itself on its expertise in business banking, focusing on the unique needs of small and medium-sized enterprises. This expertise is demonstrated through:

• Specialized lending programs
• Treasury management services
• Access to a network of resources and professionals

By understanding the challenges and opportunities faced by businesses, Hanmi provides tailored solutions that foster financial stability and growth.

Financial Performance and Community Impact in 2024

In 2024, Hanmi Financial Corporation reported a net income of $62.2 million, or $2.05 per diluted share. The return on average assets was 0.83%, and the return on average equity was 7.97%.

Hanmi Bank actively engages in corporate responsibility initiatives, focusing on:

• Investing in local communities
• Supporting environmental sustainability
• Promoting ethical governance

These efforts align with the bank's mission to create long-term value for all stakeholders, including customers, employees, and shareholders.

Hanmi Financial Corporation (HAFC) Vision Statement of

Hanmi Financial Corporation (HAFC) has established its presence in the financial sector with a clear vision, mission, and core values. These elements work together to define the company's goals, strategies, and the principles that guide its operations. Understanding these statements provides insight into HAFC's approach to business and its commitment to stakeholders. For additional background, you might find this resource helpful: Hanmi Financial Corporation (HAFC): History, Ownership, Mission, How It Works & Makes Money.

Here's an exploration of HAFC's mission, vision, and core values:

Mission Statement

The mission statement of Hanmi Financial Corporation reflects its dedication to serving the Korean-American community, as well as other diverse communities, through comprehensive financial solutions. While a direct restatement of the current official mission isn't available, the core purpose remains consistent: to offer tailored banking services that address the unique needs of their customer base. This includes:

• Providing financial products.
• Delivering personalized service.
• Supporting community growth.

The mission underscores Hanmi's role as a community-focused bank that aims to foster economic development and financial well-being.

Vision Statement

While a specific, up-to-date vision statement for Hanmi Financial Corporation as of April 2025 is not publicly available, the general vision can be inferred from their strategic objectives and public statements. The vision is centered around being a leading community bank that:

• Focuses on customer satisfaction.
• Promotes sustainable growth.
• Offers innovative financial solutions.

This vision suggests a forward-looking approach, aiming to adapt to changing market conditions and customer needs while maintaining a strong community focus.

Core Values

Hanmi Financial Corporation's core values are the guiding principles that shape its corporate culture and behavior. Although the explicit list of core values might not be detailed in publicly accessible documents, they can be inferred from Hanmi’s actions and stated priorities. These values likely include:

• Integrity: Conducting business with honesty and ethical standards.
• Customer Focus: Prioritizing customer needs and delivering excellent service.
• Community Commitment: Supporting and investing in the local communities they serve.
• Innovation: Embracing new ideas and technologies to improve services and efficiency.
• Teamwork: Fostering a collaborative and supportive work environment.

These core values reflect Hanmi's commitment to building lasting relationships with customers, employees, and the community, ensuring sustainable and responsible growth.

Hanmi Financial Corporation (HAFC) Core Values of

Hanmi Financial Corporation (HAFC) operates with a steadfast commitment to its core values, which guide its actions and strategic decisions. These values reflect the company's dedication to its customers, employees, and the communities it serves. This chapter delves into HAFC's core values, providing insights into how they are embodied in the company's operations and initiatives. For more information about Hanmi Financial Corporation (HAFC), see: Hanmi Financial Corporation (HAFC): History, Ownership, Mission, How It Works & Makes Money

Integrity

Integrity is a cornerstone of HAFC's corporate philosophy. The company emphasizes honesty, transparency, and ethical conduct in all its dealings. Integrity extends to every aspect of the business, ensuring that HAFC maintains the trust of its stakeholders. Integrity at HAFC involves:

• Ethical Conduct: Adhering to the highest ethical standards in all business practices.
• Transparency: Openly communicating with stakeholders about the company's performance and activities.
• Compliance: Ensuring full compliance with all applicable laws, regulations, and internal policies.

Customer Focus

HAFC places a high priority on understanding and meeting the needs of its customers. The company is dedicated to providing exceptional service and building long-term relationships. Customer focus is evident in HAFC's:

• Personalized Service: Offering tailored financial solutions to meet the unique needs of each customer.
• Responsiveness: Promptly addressing customer inquiries and resolving issues efficiently.
• Relationship Building: Fostering strong, lasting relationships based on trust and mutual respect.

Teamwork

HAFC recognizes that its success depends on the collaboration and cooperation of its employees. The company promotes a culture of teamwork, where individuals work together to achieve common goals. Teamwork at HAFC is characterized by:

• Collaboration: Encouraging employees to share ideas and work together effectively.
• Mutual Respect: Valuing the contributions of all team members and treating each other with respect.
• Shared Goals: Aligning individual efforts with the company's overall objectives.

Community Involvement

HAFC is committed to supporting the communities it serves through various initiatives and partnerships. The company believes in giving back and making a positive impact on society. Community involvement is reflected in HAFC's:

• Philanthropy: Donating to charitable organizations and supporting community programs.
• Volunteerism: Encouraging employees to volunteer their time and skills to local causes.
• Economic Development: Investing in projects that promote economic growth and create opportunities in underserved communities.

Excellence

HAFC strives for excellence in all its endeavors, continuously seeking to improve its performance and deliver superior results. The company is dedicated to innovation, quality, and continuous learning. Excellence at HAFC is demonstrated by:

• Innovation: Developing new products and services to meet the evolving needs of customers.
• Quality: Maintaining high standards of quality in all aspects of the business.
• Continuous Improvement: Regularly evaluating performance and identifying opportunities for improvement.