Hanmi Financial (HAFC) Proxy Filing summary

Executive summary

• Achieved net income of $62.2 million in 2024, with a 16% increase in C&I loans and 2.5% deposit growth, maintaining strong asset quality and capital position.

• Opened a Representative Office in Seoul, South Korea, as part of the Corporate Korea initiative, and consolidated three branches to optimize the network.

• SBA loan production grew 25% to $188 million, and 420 small business and community development loans totaling $261 million were originated.

• Invested in technology, including a new loan origination system and expanded digital account opening platforms.

• Increased quarterly dividend by 8% to $0.27 per share in Q1 2025.

Voting matters and shareholder proposals

• Election of eleven directors for one-year terms.

• Advisory vote on executive compensation (Say-on-Pay).

• Approval of an amendment to limit officer liability as permitted by Delaware law.

• Ratification of Crowe LLP as independent auditor for 2025.

Board of directors and corporate governance

• Board consists of eleven directors, majority independent, with diverse backgrounds and skills.

• Four standing committees: Audit, Compensation and Human Resources (CHR), Nominating and Corporate Governance (NCG), and Risk, Compliance and Planning (RCP).

• Board leadership is separated between Chairman and CEO; annual elections for accountability.

• Board diversity includes four women and seven directors of Asian descent.