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Acquisition (Tables) | 9 Months Ended
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Sep. 30, 2014
Business Combinations [Abstract] |
Summary Of Consideration Paid, Provisional Estimate Of Fair Value Of Assets Acquired and Liabilities Assumed | In connection with the acquisition, the consideration paid, the provisional estimate of the fair value of the assets acquired and the liabilities assumed as of August 31, 2014 are summarized in the following table:
|  | (In thousands) |
Consideration paid: |  |  |  |
CBI Stockholders |  | $ | 50,000 |
Redemption of preferred stock and cumulative unpaid dividends |  |  | 28,675 |
Accrued interest on subordinated debentures |  |  | 1,566 |
|  |  | 80,241 |
Assets acquired: |  |  |  |
Cash and cash equivalents |  |  | 197,209 |
Securities available for sale |  |  | 663,497 |
Loans |  |  | 294,032 |
Premises and equipment |  |  | 17,735 |
Other real estate owned |  |  | 28,027 |
Income tax assets, net |  |  | 8,800 |
Core deposit intangible |  |  | 2,213 |
FDIC loss sharing assets |  |  | 9,692 |
Bank-owned life insurance |  |  | 18,296 |
Other assets |  |  | 16,428 |
Total assets acquired |  |  | 1,255,929 |
Liabilities assumed: |  |  |  |
Deposits |  |  | 1,098,997 |
Subordinated debentures |  |  | 18,473 |
Rescinded stock obligation |  |  | 15,720 |
FHLB advances |  |  | 10,000 |
Other liabilities |  |  | 25,905 |
Total liabilities assumed |  |  | 1,169,095 |
Total identifiable net assets |  | $ | 86,834 |
Bargain purchase gain, net of deferred taxes |  | $ | 6,593 |
Summary Of Accretable Yield On Purchased Credit Impaired Loans Acquired | The following table summarizes the accretable yield on the purchased credit impaired loans acquired from the CBI merger at August 31, 2014.
|  | (In thousands) |
Undiscounted contractual cash flows |  | $ | 117,301 |
Nonaccretable discount |  |  | (18,565 | )
Undiscounted cash flow to be collected |  |  | 98,736 |
Estimated fair value of PCI loans |  |  | 75,878 |
Accretable yield |  | $ | 22,858 |
Business Acquisition, Unaudited Proforma Result of Operation Information | The following table presents our unaudited pro forma results of operations for the periods presented as if the CBI acquisition had been completed on January 1, 2013. The unaudited pro forma results of operations include the historical accounts of Hanmi Financial and CBI and pro forma adjustments as may be required, including the amortization of intangibles with definite lives and the amortization or accretion of any premiums or discounts arising from fair value adjustments for assets acquired and liabilities assumed. The unaudited pro forma information is intended for informational purposes only and is not necessarily indicative of our future operating results or operating results that would have occurred had the CBI acquisition been completed at the beginning of 2013. No assumptions have been applied to the pro forma results of operations regarding possible revenue enhancements, expense efficiencies or asset dispositions.
|  | Three Months Ended September 30, |  |  | Nine Months Ended September 30, |
|  | 2014 |  |  | 2013 |  |  | 2014 |  |  | 2013 |
|  | (In thousands, except per share data) |
Pro forma revenues (net interest income plus noninterest income) |  | $ | 62,427 |  |  | $ | 55,727 |  |  | $ | 170,923 |  |  | $ | 182,135 |
Pro forma net income from continuing operations |  | $ | 18,359 |  |  | $ | 12,826 |  |  | $ | 43,546 |  |  | $ | 47,201 |
Pro forma earnings per share from continuing operations: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | 0.58 |  |  | $ | 0.41 |  |  | $ | 1.37 |  |  | $ | 1.49 |
Diluted |  | $ | 0.57 |  |  | $ | 0.40 |  |  | $ | 1.36 |  |  | $ | 1.49 |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (h)(2)-(3) -URI http://asc.fasb.org/extlink&oid=25497992&loc=d3e1392-128463 + Details
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- Definition Tabular disclosure of the reconciliation of contractual cash flows to the carrying amount relating to certain loans acquired in a transfer. + References No definition available. + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=39739317&loc=d3e4845-128472 + Details
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