Exhibit 99.2
Pro Forma Capitalization:
Hanmi Bank pro forma TE/TA ratio = 11.0%
Assumes public offering transaction expenses of $2.3 million and other capital raising expenses of
$0.5 million. Assumes stock price as of June 17, 2011 of $1.05.
HANMI BANK
NON-GAAP FINANCIAL MEASURES (UNAUDITED)
(Dollars in Thousands)
NON-GAAP FINANCIAL MEASURES (UNAUDITED)
(Dollars in Thousands)
| Pro Forma | ||||||||||||
| Adjustments | ||||||||||||
| (Public Offering of | ||||||||||||
| March 31, 2011 | $75 million of | March 31, 2011 | ||||||||||
| Actual | Common Stock) (1) | Pro Forma | ||||||||||
TANGIBLE COMMON EQUITY TO TANGIBLE ASSETS RATIO |
||||||||||||
Total Assets |
$ | 2,872,804 | $ | 60,000 | $ | 2,932,804 | ||||||
Less Other Intangible Assets |
(303 | ) | — | (303 | ) | |||||||
Tangible Assets |
$ | 2,872,501 | $ | 60,000 | $ | 2,932,501 | ||||||
Total Stockholders’ Equity |
$ | 261,639 | $ | 60,000 | $ | 321,639 | ||||||
Less Other Intangible Assets |
(303 | ) | — | (303 | ) | |||||||
Tangible Stockholders’ Equity |
$ | 261,336 | $ | 60,000 | $ | 321,336 | ||||||
Total Stockholders’ Equity to Total Assets Ratio |
9.1 | % | 11.0 | % | ||||||||
Tangible Common Equity to Tangible Assets Ratio |
9.1 | % | 11.0 | % | ||||||||
| (1) | Assumes that Hanmi Financial contributed $60 million of the offering proceeds into Hanmi Bank as equity capital on March 31, 2011. |
Third Party Loan Review:
Beginning in 2010, Hanmi conducted third party loan reviews on a quarterly basis utilizing four
different loan review firms.
| • | Most recently engaged a nationally recognized firm in Q4 2010 to perform a review of 150 loans internally graded as pass | ||
| • | The loan review firm targeted the 25 largest loans and randomly selected 125 loans in excess of $350 thousand |
# of Loans Improperly Graded
Percentage of Loans Improperly Graded
Stress Test Analysis:
Hanmi has engaged a third party to perform quarterly stress tests in order to verify its internal
loss analysis.
The third party utilized two distinct methodologies in its analysis performed on Hanmi’s loan
portfolio as of Q1 2011:
| • | Static shock which assesses overall volatility of risk by analyzing key loss drivers, such as LTV ratios | ||
| • | Dynamic shock which assesses current risk by analyzing loss trends by lending class/geography |
The stress tests are performed over a 2-year(1) time horizon under two macroeconomic scenarios:
base and adverse
2 Year Loss Estimates(1)(2) {$mm}
(1) 2-year time horizon includes Q2 2011 to Q1 2013.
(2) Loss estimate range of $101 mm to $207 mm based on the following weighting assigned to loss
estimates under three methodologies: 10% to third party static shock scenario, 40% to Hanmi
Experience Model and 50% to third party dynamic shock scenario. Loss estimates are net of
recoveries.
Pro Forma Valuation:
(1) Calculated as common equity of $184.1 mm less intangibles of $2 mm. See Appendix for
reconciliation of non-GAAP financial measures that follows. (2) Net proceeds of $72.2 mm is
calculated using gross capital raise of $75 mm less assumed capital raise expenses of $2.8 mm. (3)
Price to tangible book value assumes offering price of $1.05 per share. (4) Reflects the midpoint
of the Company’s estimated range of realizable DTA from $50 million to $70 million. Such range was
derived from multiple assumptions, including but not limited to the following: (i) share price at
closing of offering, (ii) future federal & state NOL & NUBIL, (iii) future DTA valuation allowance
at reversal, (iv) timing of reversal, (v) IRS Section 382 limitation, and (vi) U.S. Treasury
long-term interest rates. The Company also considered a third party analysis valuing its
realizable DTA at $69 million. Actual realization of any DTA amount is not guaranteed, and actual
results may differ from the Company’s estimate. (5) Based on historical PTPP earnings for the past
8 quarters. PTPP calculated as net income before taxes + provision expense + OREO expense. See
Appendix for reconciliation of non-GAAP financial measures. (6) Based on third party-provided
“moderate case” stress test analysis as well as the Company’s historical loss experience model.
Applied weights of 10%, 40% and 50% weights to expected losses from third party static loss
scenario, Hanmi Experience model, and third party dynamic loss scenario, respectively. Estimated
cumulative loan losses for the next 8 quarters (4/1/2011 — 3/31/2013). (7) Based on a reserve /
loan ratio of 3.0% on the Company’s existing loan portfolio balance of $2.2 billion (per Company’s
historical reserve / loan levels).
| Non-GAAP Reconciliation 1 (1) Assumes Hanmi Financial contributes $60 million of the offering proceeds to Hanmi Bank as equity capital. |
The non-GAAP measures included herein are supplemental financial information determined by a
method other than in accordance with U.S. generally accepted accounting principles (“GAAP”). These
non-GAAP measures are used by management in the analysis of the Company’s performance. Management
believes the presentation of these financial measures provides useful supplemental information that
is essential to a proper understanding of the financial results of the Company. This disclosure
should not be viewed as a substitution for results determined in accordance with GAAP, nor is it
necessarily comparable to non-GAAP performance measures that may be presented by other companies.