Anthony Kim
About Anthony Kim
Anthony Kim, 57, is Senior Executive Vice President and Chief Banking Officer (CBO) of Hanmi Financial (Hanmi Bank). He became EVP & CBO in January 2020 and was elevated to Senior EVP & CBO in April 2023; he joined Hanmi in September 2013 as EVP & Chief Lending Officer after five years as SVP & District Manager at BBCN Bank. He holds a B.A. in business administration from California State University and is a graduate of Pacific Coast Banking School . His annual incentive plan (AIP) is tied to balanced scorecard metrics; for 2024, his scorecard achieved 92.7% of target, including ROAA at 0.83% (target 0.83%), NPA/Assets at 0.19% (target 0.35%), Efficiency Ratio at 60.31% (target 57.84%), business growth targets in loans, deposits, DDA and income, and strategic/risk objectives, resulting in a cash payout equal to 41.72% of base salary ($150,198) .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Hanmi Bank | Senior EVP & Chief Banking Officer | Apr 2023–present | Oversees banking divisions with scorecard tied to ROAA, asset quality, efficiency, growth, strategic initiatives, and risk; 2024 objectives included Corporate Korea initiative, branch optimization, and opening Seoul representative office . |
| Hanmi Bank | EVP & Chief Banking Officer | Jan 2020–Apr 2023 | Led commercial and retail banking; continued expansion of relationship-driven banking strategy . |
| Hanmi Bank | EVP & Chief Lending Officer | Sep 2013–Jan 2020 | Led lending; foundation for later CBO role . |
| BBCN Bank | SVP & District Manager | ~2008–2013 | Commercial and retail banking leadership prior to joining Hanmi . |
External Roles
No external public company directorships or committee roles disclosed for Mr. Kim in the proxy .
Fixed Compensation
Multi-year compensation (Summary Compensation Table):
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Salary ($) | 313,154 | 348,693 | 360,000 |
| Stock Awards – grant date fair value ($) | 105,019 | 143,130 | 171,030 |
| Non-Equity Incentive Plan Compensation ($) | 184,718 | 140,663 | 150,198 |
| All Other Compensation ($) | 36,106 | 38,025 | 37,807 |
| Total ($) | 638,997 | 670,511 | 719,035 |
Additional pay design details:
- Base salary held flat from 2023 to 2024 at $360,000 for the CBO .
- All Other Compensation for 2024 includes 401(k) employer contributions of $20,700 and perquisites/other of $17,107 .
Performance Compensation
2024 Annual Incentive Plan (AIP) – Scorecard and Payout
| Metric | Weight | Threshold | Target | Maximum | Actual | Achievement % |
|---|---|---|---|---|---|---|
| ROAA | 15% | 0.66% | 0.83% | 0.91% | 0.83% | 15.0% |
| NPA/Assets | 15% | 0.42% | 0.35% | 0.28% | 0.19% | 22.5% |
| Efficiency Ratio | 10% | 63.62% | 57.84% | 54.95% | 60.31% | 7.9% |
| Loan Balance (divisional) | 2.5% | ~$4.35B | ~$5.44B | ~$6.53B | ~$5.5B | 2.55% |
| Loan Production Budget (divisional) | 2.5% | ~$619.2M | ~$774.0M | ~$928.8M | ~$843.7M | 3.06% |
| Deposit Balance (divisional) | 5% | ~$5.02B | ~$6.3B | ~$7.5B | ~$6.22B | 4.90% |
| DDA Budget (divisional) | 5% | ~$1.66B | ~$2.08B | ~$2.5B | ~$2.07B | 4.97% |
| Income Budget (divisional) | 5% | ~$93.4M | ~$116.75M | ~$140.1M | ~$109.4M | 4.21% |
| Strategic Plan/Project | 20% | See CD&A | See CD&A | See CD&A | See fn(2) | 18.59% |
| Risk Management | 10% | See CD&A | See CD&A | See CD&A | See fn(3) | 9.06% |
| Discretionary | 10% | — | — | — | See fn(4) | 0% |
| Eligible Salary | $360,000 | |||||
| Target % of Salary | 45% | |||||
| Total Achieved as % of Target | 92.7% | |||||
| Payout % of Base Salary | 41.72% | |||||
| Actual Payout ($) | $150,198 |
Notes: Strategic metric covered Corporate Korea growth, branch consolidation/opening, Seoul representative office, systems adoption, deposit and mortgage sale goals; Risk metric based on regulatory/internal/external exam results .
2024 Grants of Plan-Based Awards (Equity)
| Award Type | Grant Date | Threshold (#) | Target (#) | Maximum (#) | Fair Value ($) |
|---|---|---|---|---|---|
| Time-Based Restricted Stock | 4/1/2024 | — | 5,289 | — | 81,927 |
| Performance-Based RSUs (Relative TSR) | 4/1/2024 | 3,116 | 6,231 | 9,347 | 89,103 |
LTI design and vesting:
- Mix: ~45% time-based restricted stock; ~55% performance-based RSUs for NEOs in 2024 .
- RS (time-based): vests in three equal annual installments beginning on first anniversary of grant .
- PSUs (relative TSR vs KBW Regional Banking Index) vest at end of three-year period; payout schedule: <35th pct=0%, 35th=50%, 50th=100%, 75th=150%; capped at Target if absolute TSR is negative .
2024 Equity Vesting/Exercises
| Metric | 2024 |
|---|---|
| Shares acquired on vesting (RS/PSU) | 4,801 |
| Value realized on vesting ($) | 73,768 |
| Options exercised (shares) | — (none reported) |
Equity Ownership & Alignment
Beneficial ownership (as of April 2, 2025):
- Anthony Kim: 42,058 shares; less than 1% of outstanding shares .
Outstanding unvested/unearned equity at 12/31/2024:
| Award | Grant Date | Units not vested/unearned (#) | Market value at $23.62 ($) |
|---|---|---|---|
| RS (time-based, 2022 grant) | 3/23/2022 | 635 | 14,999 |
| RS (time-based, 2023 grant) | 3/10/2023 | 2,012 | 47,523 |
| RS (time-based, 2024 grant) | 4/1/2024 | 5,289 | 124,926 |
| PSU (target, 2022 grant) | 3/23/2022 | 2,301 | 54,350 |
| PSU (target, 2023 grant) | 3/10/2023 | 3,713 | 87,701 |
| PSU (target, 2024 grant) | 4/1/2024 | 9,347 (max payout shown for table; target 6,231 granted separately) | 220,764 |
Ownership/hedging/pledging policies and guidelines:
- Hedging and pledging prohibited for executive officers; Senior Vice Presidents and above may not hold Company securities in margin accounts or pledge them as collateral .
- CEO/CFO stock ownership guidelines (5x and 1.5x salary, respectively); not disclosed for other NEOs; CEO and CFO are in compliance .
- Clawback policy (SEC/Nasdaq/Dodd-Frank compliant) applies to incentive-based compensation for three fiscal years preceding any required restatement; no indemnification for clawed back amounts .
Employment Terms
Potential payments upon termination/change in control (as of 12/31/2024):
| Scenario | Cash Severance ($) | Accelerated Vesting of Stock Awards ($) | Health & Welfare ($) | Total ($) |
|---|---|---|---|---|
| Termination Without Cause or For Good Reason | — | 146,286 | — | 146,286 |
| Qualifying Termination in Connection with Change in Control | — | 531,550 | — | 531,550 |
| Death or Disability | — | — | — | — |
| Change in Control (no termination) | — | — | — | — |
Key equity plan terms:
- Double-trigger vesting: under the 2021 Plan, PSUs vest on actual performance upon change in control followed by qualifying termination; RS vests only upon change in control followed by qualifying termination (except CEO/CFO employment agreement provisions) .
- Upon termination without cause/for good reason (no change in control), PSUs vest pro-rata based on actual performance through termination; unvested RS generally forfeited absent change-in-control trigger .
Compensation Committee & Peer Group Context
- CHR Committee members: Christie K. Chu (Chair), Harry H. Chung, Gloria J. Lee, James A. Marasco, David L. Rosenblum, Michael M. Yang .
- Independent compensation consultant engaged; diversified goal set; majority of pay at-risk; clawback in place; no hedging/pledging; no excise tax gross-ups; no dividends on unvested PSUs .
- 2024 peer group includes regional banks such as CVB Financial, TriCo Bancshares, Westamerica Bancorporation, Preferred Bank, RBB Bancorp, and others (full list in proxy) .
Say‑on‑Pay & Shareholder Feedback
- 2025 advisory vote on executive compensation: For 24,364,818; Against 670,908; Abstain 8,664; Broker Non‑Votes 1,188,987 (≈97% support excluding broker non‑votes) .
Investment Implications
- Pay-for-performance alignment: AIP payout near target (92.7%) reflects balanced weighting of profitability (ROAA), asset quality (NPA/Assets), efficiency, growth, and strategic execution in Kim’s divisions; LTI is majority PSUs tied to relative TSR (with a cap when absolute TSR is negative), aligning realized pay with shareholder outcomes .
- Vesting/selling pressure: Material time-based RS vests through 2027 (5,289 shares from 2024 grant; plus residual 2022/2023 tranches), and PSU performance periods conclude in 2025–2027, creating predictable windows for potential insider sales around vest dates absent retention requirements; at 12/31/2024, unvested/unearned awards had an aggregate indicated value of ~$550k at $23.62/share .
- Retention risk and parachute economics: No disclosed employment agreement or cash severance for Kim—termination economics are predominantly equity acceleration (e.g., $146k without cause/good reason; $532k upon CoC qualifying termination), which is modest relative to peer practices and could increase external poaching risk for a senior commercial banker .
- Alignment safeguards: Prohibitions on hedging/pledging reduce misalignment risk; CEO/CFO ownership guidelines exist (none disclosed for CBO), and a robust clawback is in place .
- Governance and shareholder support: Strong 2025 say‑on‑pay support and an independent CHR Committee using a relevant regional bank peer set point to low governance risk around compensation design .
Appendix: Additional Reference Tables
Base Salary Levels (Context)
| Name | 2023 Base Salary | Increase % | 2024 Base Salary |
|---|---|---|---|
| Anthony Kim (Sr. EVP & CBO) | $360,000 | 0% | $360,000 |
2024 Long‑Term Incentive Targets (NEO Program)
| NEO | Total Target Equity as % of Salary | Time‑Based RS (#) | PSUs – Target (#) |
|---|---|---|---|
| Anthony Kim | 45% | 5,289 | 6,231 |