Saehan Bancorp reported earnings results for the third quarter and nine months ended September 30, 2009. The company reported a net loss of $7.5 million, or $0.47 loss per diluted share, for the third quarter of 2009 compared with net loss of $765,000, or $0.06 per diluted share, for the third quarter of 2008, representing a significant improvement compared with the $22.3 million net loss, or $1.39 per share, reported in the preceding second quarter. The negative return on average equity for the third quarter of 2009 was 72.74% and the negative return on average assets was 3.26% compared with-4.95% and-0.36%, respectively, for the third quarter of 2008. Net interest income before provision for loan losses was $3.5 million in the third quarter of 2009 compared with $7.5 million in the third quarter of 2008, and $3.3 million in the second quarter of 2009. For the third quarter of 2009, net interest margin was 1.57% compared with 1.40% in the second quarter of 2009. The increase in the net interest margin from the previous quarter was primarily a result of a decrease in high-cost deposits, re-pricing of certificates of deposits, a decrease in brokered deposits and a decrease in non-accrual loans. Noninterest income in the third quarter of 2009 totaled $2.3 million compared with $1.3 million in the third quarter of 2008 and $126,000 in the second quarter of 2009. The increase in noninterest income is primarily attributable to a $1.0 million gain from the sale of the bank owned property in the third quarter of 2009. For the nine months, the company reported total interest income of $28.8 million and loss before income taxes of $50.9 million and net loss of $29.8 million or $1.86 loss per diluted share compared to total interest income of $41.0 million and loss before income taxes of $2.4 million and net loss of $1.4 million or $0.12 loss per diluted share for the same period a year ago. For the period, the company reported negative return on average assets of 4.43% and negative return on average equity of 70.06% compared to negative return on average assets of 0.23% and negative return on average equity of 3.10% for the same period a year ago.

Saehan Bancorp reported earnings results for the second quarter and six months ended June 30, 2009. For the quarter, the company reported a net loss of $22.3 million or $1.39 per diluted share, compared with a net loss of $1.6 million or $0.13 per diluted share, in the same period a year ago. Net interest margin decreased to 1.40% from the 3.47% reported in the second quarter of 2008. Net interest income before provision for loan losses was $3.3 million compared with $7.0 million in the second quarter of 2008. Total interest income was $9.7 million compared to $13.4 million a year ago. Loss before income taxes was $38.1 million compared to $2.6 million a year ago. Net loss was $22.3 million or $1.39 per basic and diluted share, compared to net loss of $1.61 million or $0.13 per basic and diluted share, a year ago. Negative return on average assets was 9.26% compared to 0.77% a year ago. Negative return on average equity was 142.26% compared to 10.23% a year ago. For the six months, the company's net interest income before provision for loan losses was $8.2 million compared with $14.1 million a year ago. Total interest income was $19.7 million compared to $27.5 million a year ago. Loss before income taxes was $38.2 million compared to $1.11 million a year ago. Net loss was $22.4 million or $1.39 per basic and diluted share, compared to net loss of $0.7 million or $0.06 per basic and diluted share, a year ago. Negative return on average assets was 5.04% compared to 0.17% a year ago. Negative return on average equity was 69.04% compared to 2.18% a year ago.

Saehan Bancorp reported earnings results for the first quarter ended March 31, 2009. For the quarter, the company reported net loss of $73,000 or $0.005 per diluted share on the total interest income of $10,025,000 compared to net income of $925,000 or $0.05 per diluted share on the total interest income of $14,160,000 for the same period last year. The company reported negative return on average equity for the first quarter of 2009 was 0.44% and negative return on average assets was 0.04% compared with return on average equity and return on average equity 5.93% and 0.46%, respectively, for the first quarter of 2008. Book value per share was $3.90 against $5.19 for the same period a year ago. Net interest income before provision for loan losses was $4.9 million in the first quarter of 2009 compared with $7.1 million in the same period a year ago. Income before income taxes was $133,000 against $1,504,000 a year ago. Income before extraordinary items $73,000 against $925,000 a year ago.