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California and the West

Hanmi bank's profit rises 17%

October 25, 2006|From a Times Staff Writer

Hanmi Financial Corp. said Tuesday that its third-quarter profit rose 17%, despite a higher interest-rate environment, with loans and deposits up modestly.

The Los Angeles-based bank recorded a profit of $17.6 million, or 36 cents a share, compared with $15 million, or 30 cents, in the year-ago quarter.

Net interest income rose 12% to $39.2 million.

Return on average shareholders' equity, a key financial indicator for banks, rose to 15.1% from 13.9% a year earlier.

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