Hanmi Financial Corp. swung from a loss to a profit in the second quarter, despite lower revenue, as the Koreatown bank holding company was not forced to set aside money to cover bad loans.

The parent of Hanmi Bank on Thursday reported net income of $8 million (5 cents per share), compared with a loss of nearly $29.3 million (-57 cents) a year ago.

Net interest income fell 3 percent $25.5 million. Non-interest income was down 7.6 percent to $22.9 million. The quarter included non-recurring expenses of $2.2 million related to abandoned plans to obtain a majority investment from Woori Finance Holdings Ltd., and a separate planned equity offering that the company decided not to complete due to poor market conditions.

There was no provision for credit losses taken during the quarter, compared with a $37.5 million provision a year ago. The bank, which has been struggling to recover from the real estate downturn, said non-performing assets fell 40 percent to less than $160 million, and total net charge-offs were down 58 percent to $16.5 million.

Chief Executive Jay S. Yoo noted that this was the third consecutive quarter that Hanmi had turned a profit. “Our second quarter further established the recovery of our core franchise with continued profitability,” Yoo said in a statement.

Shares were down 4 cents, or 3 percent, in midday trading Friday on the Nasdaq.