CONTIGENCY CLAUSES: "I'm not paying $50 million for the current bank," but for the "future condition, when it has a relatively clean balance sheet," Hanmi CEO C.G. Kum says of requirements in the deal that Central lower its classified assets and make other fixes.
Early in the year Hanmi Financial in Los Angeles was poised to put itself up for sale. But its deal to buy a Texas bank with operations in six states could rearm Hanmi in its fight with BBCN Bancorp and Wilshire Bancorp to be the top Korean-American bank.
To continue, please log in, register or subscribe.