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Several Korean-American banks are entering markets and businesses designed to target mainstream clients and other ethnic groups. Such moves are viewed as a way to improve the bottom line as revenue growth proves daunting.
February 18 -
Korean-American banks have been challenged by an aging core customer base, which threatens growth. Hanmi Chief Executive C.G. Kum plans to respond with a national SBA program and plans to court other immigrant communities.
April 25 -
More community banks have begun offering SBA loans nationwide, a smart strategy given improving demand and double-digit premiums in the secondary loan market. Banks moving into far-flung territories have determined that they need highly targeted strategies to be successful as well as methods for minimizing risk.
May 22
Hanmi Financial has opened loan production offices in New York and Georgia.
The $4.1 billion-asset company said in a press release Friday that its New York City office will focus on middle-market and commercial-and-industrial loans. It will be led by Chris Hwang, who joined Hanmi in January.
Hanmi said that James Lee will lead the new office in Duluth, Ga., which will focus on Small Business Administration loans. Lee also joined Hanmi in January.
Hanmi now has six loan production offices nationwide.
