LOS ANGELES, July 11, 2014 (GLOBE NEWSWIRE) -- Hanmi Financial Corporation (Nasdaq:HAFC) ("Hanmi"), the holding company for Hanmi Bank (the "Bank"), today announced Hanmi sold its subsidiaries,Chun-Ha Insurance Services, Inc. and All World Insurance Services, Inc. to Chunha Holding Corporation on June 30, 2014. "We want to focus our efforts and resources on growing our core banking franchise," said C. G. Kum, President and Chief Executive Officer. "These insurance businesses have provided limited contributions to our operating results, and no longer fit into our business banking strategy."
About Hanmi Financial Corporation
Headquartered in Los Angeles, Hanmi Bank, a wholly-owned subsidiary of Hanmi Financial Corporation, provides services to the multi-ethnic communities of California, with 27 full-service branch offices in Los Angeles, Orange, San Bernardino, San Francisco, Santa Clara and San Diego counties, and loan production offices in Texas, Virginia and Washington State. Hanmi Bank specializes in commercial, SBA and trade finance lending, and is a recognized community leader. Hanmi Bank's mission is to provide a full range of quality products and premier services to its customers and to maximize shareholder value. Additional information is available at www.hanmi.com.
CONTACT: Mark (Shick) Yoon EVP & Chief Financial Officer Direct Phone: 213-427-5636 Christina Lee FVP & Senior Strategy Officer Direct Phone: 213-427-5631Source:Hanmi Bank