Shares of Koreatown lenders BBCN Bancorp Inc., Hanmi Financial Corp. and Wilshire Bancorp all closed slightly down Tuesday after the three banks reported earnings.
BBCN
BBCN on Monday reported second-quarter net income of $22.3 million (28 cents a share), a 2 percent decline from the same period a year earlier. The bank holding company’s expenses grew while its net interest margin and non-interest income fell slightly.
Results fell just short of analysts’ earnings expectations of 29 cents a share. BBCN shares fell 1 percent today to close at $15.25.
WILSHIRE
Wilshire on Monday reported net income of $14.7 million (19 cents a share) for the quarter, up 27 percent over the same period a year ago. Much of that growth came from the bank’s acquisition of two other Korean-American banks in the past year: BankAsiana of New York and Saehan Bank of Los Angeles.
Earnings were half a penny below with analysts’ expectations. Wilshire shares closed down 3 percent today to $9.40.
HANMI
Hanmi on Tuesday posted net income of $11.5 million (36 cents a share) for the second quarter, up 23 percent from the same period a year ago. That beat analysts’ expectations of 33 cents a share.
Hanmi shares fell less than 1 percent to close at $20.85.
