Only a few banks can serve different communities of different countries and Hanmi Bank is one of them. This bank is successfully serving the Korean-American community. It’s a journey of 25 years.
Because of their organizational structure, they’ve come with both English and Korean versions. Even they have a variety of options for the banking product that starts from checking and ends with savings.
From the money market, lending and business activities, lots of people prefer this bank. It’s not only convenient but has recognition from different organizations like the FDIC. Here is more information you can find.
What Is Hanmi Bank?
Hanmi Bank is a newbie in the banking sector. But their age doesn’t reflect their dedication to the client and banking services. It started in 1982 and is headquartered in Los Angeles, California.
In their financial report, it’s shown that they own $5 billion assets and $4 billion deposits. Because of the traditional banking service, clients are free to get access to service representatives all the time.
It also offers web and mobile applications. Users of their mobile apps rate this app 4.1 out of 5. That means it’s good enough to give a client freedom to manage an account.
Overall Status of Hanmi Bank:
Without knowing their actual financial status it’s hard to find how good or bad this bank could be. Here are their asset and liabilities details.
|Particulars||Q1 2021||Q1 2020|
|Assets||$6,44 B||$5.62 B|
|Loans||$4.76 B||$4.48 B|
|Deposits||$5.52 B||$4.60 B|
|Equity Capital||$688.4 MM||$650.1 MM|
|Loan Loss Allowances||$88.4 MM||$66.5 MM|
|Unbacked Noncurrent Loans||$42.1 MM||$40.9 MM|
|Real Estate Owned||$1.5 MM||$63.00 K|
What Are The Product Types?
As you know, the best bank comes with different types of financial products for their client. Let’s see what types of products this Bank offers.
- Money Market & Savings
- Certificate of Deposit
- Personal Debit Card
- Money Market & Savings
- Certificate of Deposit
- Business Debit Card
- Treasury Management
- Korea Desk
- Home Loan
- Commercial Lending
- SBA Lending
- Healthcare Lending
- Equipment Leasing
- Trade Finance
- Entertainment Lending
What Are The Pros & Cons of Hanmi Bank?
It doesn’t matter how good a bank is if you find disadvantages. This bank also has some pros and cons and here it is.
- Low fees
- Wide Variety of Accounts
- A limited number of branches
- Less competitive rates
Is Hanmi Bank FDIC Insured or Not?
As you know, this bank was founded on December 15, 1982. But the sad news is this bank is not an active FDIC-insured bank. We found that this Bank has an FDIC insurance membership with DIF. DIF refers to the Deposit Insurance Fund. This one is regulated by the (FRB) Federal Reserve Board. So, this Bank is assigned under the San Francisco Federal Deposit Insurance Corporation (FDIC). Here are more details of Hanmi Bank
|Bank Name||Hanmi Bank|
|Address||3660 Wilshire Boulevard, Shuit A, Los Angeles, CA 90010|
|FDIC certificate ID||24170|
|Bank Institution Name||Hanmi Bank|
|Is the Bank Active?||Inactive|
|Office of Thrift Supervision Docket ID||Not an OTS member|
|Regulator||Federal Reserve Board (FRB)|
|Bank Charter Class||SM – Commercial Bank, Bank is supervised by the Federal Reserve Board (FRB), State Charter, and Fed member|
|FDIC Bank’s Chartering Agency||State|
|Bank is FDIC Insured||No, FDIC insured bank is not a member of the Bank Insurance Fund|
|Date of Deposit Insurance||December 15, 1982|
|Change Code Description||Not FDIC Insured Bank Changes|
|OCC Bank Charter||No FDIC Bank Charter Number|
|Conservatorship||FDIC insured bank is not being operated by government conservatorship|
What Is The Popular Product Rate of This Bank?
Hanmi Bank has a variety of products but only a few of them got the most attention of the people. We decided to give you some details about the rate of all these popular products of this bank.
Savings and Money Market Rates:
|6 Mo CD||0.25%||$10,000||$14,999|
|6 Mo CD||0.35%||$100,000||$199,999|
|12 Mo CD||0.50%||$10,000||$14,999|
|12 Mo CD||0.65%||$100,000||$199,999|
|18 Mo CD||0.50%||$10,000||$14,999|
|18 Mo CD||0.65%||$100,000||$199,999|
|24 Mo CD||0.50%||$10,000||$14,999|
|24 Mo CD||0.65%||$100,000||$199,999|
|30 Mo CD||0.50%||$10,000||$14,999|
|30 Mo CD||0.65%||$100,000||$199,999|
|36 Mo CD||0.55%||$10,000||$14,999|
|36 Mo CD||0.60%||$100,000||$199,999|
|48 Mo CD||0.55%||$10,000||$14,999|
|48 Mo CD||0.60%||$100,000||$199,999|
|60 Mo CD||0.55%||$10,000||$14,999|
|60 Mo CD||0.60%||$100,000||$199,999|
Int. Checking Rates:
What About Service Quality?
Only a few banks have the dedication to offer quality service to their clients. Hanmi Bank does its best for this purpose. It has a total of 41 barnacles in California, Illinois, New York, New Jersey, Virginia, and Texas.
To reach their clients easily, they introduced mobile applications and web applications. So for on-the-go banking service, this bank could be the option only for its mobile application.
Maybe it does not have all-day customer service, but clients can access and can communicate with customer service officers through this app.
Finally, we found a bank that not only secured our money but also offered the best service. In many ways, this bank draws everyone’s attention in a short time. When you need a great bank with a flexible financial product, then Hanmi Bank is the solution.
It gives the client full freedom to control the account in every possible way. This bank is full of packages that are contemporary for everyone. All these products can fulfill our financial needs easily.