Hanmi Financial (HAFC) in Los Angeles reported dip in quarterly profits because of costs related to its planned acquisition of Central Bancorp.
The company earned $10 million in the fourth quarter. While profits were down 29% from the same period a year ago, the decline was largely owed to the $5.5 million tax benefit Hanmi received in the fourth quarter of 2012. Compared to the third quarter, Hanmi's profits fell 3%. Earnings per share of 31 cents were 1 cent lower than the estimates of analysts polled by Bloomberg.