Hanmi Financial Corp. (NASDAQ:HAFC) is a $700 million regional bank that has very little to not like about it. The books are clean, it is well capitalized, making money and a merger is on the way. But, the million dollar question is always pricing and there appears to be very little discount for anyone interested in looking for a cheap bank.
With that said, I have to be honest, from the start of my research I was very skeptical and started searching for a hole or any little reason to write this one off and I didn't know why until I moved from the financials to valuation. This bank is trading above any other bank with similar numbers...
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