Hanmi Financial (Hanmi Financial) Effective Interest Rate on Debt % : 47.14% (As of Dec. 2023)

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What is Hanmi Financial Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Hanmi Financial's annualized positive value of Interest Expense for the quarter that ended in Dec. 2023 was $176.2 Mil. Hanmi Financial's average total debt for the quarter that ended in Dec. 2023 was $373.7 Mil. Therefore, Hanmi Financial's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 was 47.14%.

Hanmi Financial Effective Interest Rate on Debt % Historical Data

The historical data trend for Hanmi Financial's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Hanmi Financial Effective Interest Rate on Debt % Chart

Hanmi Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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37.20

18.00

6.96

8.69

31.69

Hanmi Financial Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															24.57	38.51	57.35	47.14	51.67

Competitive Comparison of Hanmi Financial's Effective Interest Rate on Debt %

For the Banks - Regional subindustry, Hanmi Financial's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Hanmi Financial's Effective Interest Rate on Debt % Distribution in the Banks Industry

For the Banks industry and Financial Services sector, Hanmi Financial's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Hanmi Financial's Effective Interest Rate on Debt % falls into.

Hanmi Financial Effective Interest Rate on Debt % Calculation

Hanmi Financial's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -148.057	/	( (479.409	+	455.012)	/ 2 )
=	-1 * -148.057	/	467.2105
=	31.69 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	179.409	+	300
=	479.409

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	205.012	+	250
=	455.012

Hanmi Financial's annualized Effective Interest Rate on Debt % for the quarter that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Sep. 2023 )	+	Total Debt (Q: Dec. 2023 ))	/ count )
=	-1 * -176.172	/	( (292.36	+	455.012)	/ 2 )
=	-1 * -176.172	/	373.686
=	47.14 %

where

	Total Debt (Q: Sep. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	204.86	+	87.5
=	292.36

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	205.012	+	250
=	455.012

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Dec. 2023) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Hanmi Financial (NAS:HAFC) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Hanmi Financial Effective Interest Rate on Debt % Related Terms

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Hanmi Financial (Hanmi Financial) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Hanmi Financial Corp (NAS:HAFC) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

N/A

Address

900 Wilshire Boulevard, Suite 1250, Los Angeles, CA, USA, 90017

Website

https://www.hanmi.com

Hanmi Financial Corp is a Los Angeles-based bank that caters to Korean-Americans and other multi-ethnic communities across California, Colorado, Georgia, Illinois, New Jersey, New York, Texas, Virginia, and Washington. The bank mainly focuses on small businesses and commercial and real estate loans. Hanmi also offers trade-finance products. The bank has several lending offices outside California and plans to expand outside the state mainly through acquisitions. The Bank's revenues are derived from interest and fees on loans, interest, and dividends on the securities portfolio, service charges on deposit accounts, and sales of SBA loans.

Executives

Romolo Santarosa	officer: SEVP, Corp. Finance & Strategy	6538 VERDE RIDGE ROAD, RANCHO PALOS VERDES CA 90275
Harry Chung	director	C/O IMPERIAL CAPITAL GROUP, INC., 2000 AVENUE OF THE STARS, 9TH FL. SOUTH, LOS ANGELES CA 90067
Michael Yang	director	3660 WILSHIRE BLVD., PH-A, LOS ANGELES CA 90010
Gloria J Lee	director	900 WILSHIRE BLVD., SUITE 1250, LOS ANGELES CA 90017
Joseph Pangrazio	officer: Chief Accounting Officer	900 WILSHIRE BLVD., SUITE 1250, LOS ANGELES CA 90017
Gideon Yu	director	3660 WILSHIRE BLVD., PH-A, LOS ANGELES CA 90010
John J Ahn	director	150 SOUTH FIFTH STREET, SUITE 1360, MINNEAPOLIS MN 55402
Patrick M Carr	officer: Chief Accounting Officer	3660 WILSHIRE BLVD., PH-A, LOS ANGELES CA 90010
Bonita Lee	officer: SEVP & Chief Operating Officer	3731 WILSHIRE BLVD, SUITE 1000, LOS ANGELES CA 90010
David L Rosenblum	director	3660 WILSHIRE BLVD., PH-A, LOS ANGELES CA 90010
Anthony I. Kim	officer: Chief Banking Officer	3660 WILSHIRE BLVD., PH-A, LOS ANGELES CA 90010
Michael Du	officer: Chief Risk Officer	3660 WILSHIRE BLVD., PH-A, LOS ANGELES CA 90010
Joseph K Rho	director	3660 WILSHIRS BLVD PH-A, LOS ANGELES CA 90010
Scott Diehl	director	3660 WILSHIRE BLVD., PH-A, LOS ANGELES CA 90010
Kiho Choi	director	3435 WILSHIRE BLVD., SUITE 2240, LOS ANGELES CA 90010