Hanmi Financial Corp. in Los Angeles said it has applied for $105 million from the Treasury Department's Capital Purchase Program and said that if the application is approved it would use the funds to increase its lending to small and midsize businesses.
The $105 million is maximum amount for which the $3.8 billion-asset Hanmi is eligible.
Jay S. Woo, Hanmi's president and chief executive, also addressed the recent volatility in the company's stock. In a news release Wednesday he blamed the decline partly on a single investor's sale of his "substantial holdings" to meet a margin call.
Hanmi's shares had fallen by more than 50% since Oct. 31, before rallying somewhat after Wednesday's announcements.
