Hanmi Financial Corp Issues $55M Subordinated Notes; To Redeem 2031 Notes

What Happened

• Hanmi Financial Corporation filed an 8-K on July 31, 2026 disclosing that on July 30, 2026 it privately issued $55.0 million aggregate principal of 6.50% Fixed-to-Floating Rate Subordinated Notes due 2036 to qualified institutional buyers. The Company intends to use net proceeds to redeem its outstanding 3.75% Fixed-to-Floating Rate Subordinated Notes due 2031 (aggregate principal stated in the filing as $110.0 million) and for general corporate purposes. The Company also issued a press release and delivered a confidential investor presentation in connection with the offering.

Key Details

• Amount issued: $55.0 million of 6.50% Fixed-to-Floating Rate Subordinated Notes due July 31, 2036.
• Interest terms: 6.50% fixed through (but excluding) July 31, 2031; thereafter floating (expected Three-Month Term SOFR + 234 bps). Interest paid semi-annually during the fixed period and quarterly during the floating period.
• Redemption plan: Company intends to redeem its existing 3.75% subordinated notes due 2031 (identified in the filing as $110.0 million in aggregate); redemption expected on or about September 1, 2026 at 100% of principal plus accrued interest.
• Structure and placement: Notes are unsecured, subordinated obligations ranking junior to senior debt; issued in a private placement relying on Section 4(a)(2) and Rule 506(b) of Regulation D. The Company intends the Notes to qualify at the holding-company level as Tier 2 capital under Federal Reserve guidelines.

Why It Matters

• This transaction changes Hanmi’s subordinated debt profile: the new notes carry a materially higher fixed coupon (6.50%) versus the 3.75% coupon on the 2031 notes being redeemed, which may affect the Company’s interest expense and capital structure.
• The Notes are intended to count as Tier 2 capital at the holding-company level, which is relevant for regulatory capital ratios.
• Redemption timing (expected around Sept. 1, 2026) and the non-call protection (cannot redeem before the fifth anniversary, then redeemable starting July 31, 2031) are material for investors tracking debt maturity and refinancing risk.

Exhibits referenced in the filing include the form of the Notes, the purchase agreement, the investor presentation, and the press release. The filing also includes standard forward-looking statement disclosures.