OP Bancorp

Listed Company

OPBKCIK 0001722010NasdaqAcceleratedSmaller ReportingState Commercial BanksCaliforniaFY ends Dec 31

Period

FY 2025

Revenue

$3.20M

Net Income

$25.64M

Total Assets

$2.65B

Equity

$227.89M

Shares Out

14.89M

Op. Cash Flow

$26.16M

Business

OP Bancorp is a bank holding company that operates commercial banking activities through its wholly owned subsidiary, Open Bank, providing relationship-driven community banking services. It offers deposit products, commercial and residential lending including commercial real estate, commercial and industrial, SBA and mortgage warehouse lines, consumer loans, cash management, online and mobile banking, and ancillary services. Key business segments include its banking subsidiary Open Bank, an SBA loan department, a trade finance unit and investment and risk management functions. It distributes services through eleven full-service branches, multiple loan production offices across U.S. metropolitan areas and digital channels.

Summary from filing dated 2025-03-28

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	137	124	110	83	62
Interest on AFS debt securities	6	6	6	3	1
Other interest income	7	7	5	2	625,000
Total interest income	150	138	122	88	64
Interest on deposits	69	68	49	11	3
Interest on borrowings	3	4	4	—	—
Interest on subordinated note	278,000	0	0	—	—
Total interest expense	72	72	53	11	—
Net interest income	78	66	69	77	61
Provision for credit losses	4	3	2	3	522,000
Net interest income after provision for credit losses	75	63	67	74	61
Service charges on deposits	3	3	2	2	2
Loan servicing fees, net of amortization	3	3	2	2	2
Gains on sale of loans	7	8	8	12	11
Other income	3	2	2	1	1
Total noninterest income	16	16	14	18	16
Salaries and employee benefits	36	32	30	27	21
Occupancy and equipment	7	7	6	6	5
Data processing and communication	1	2	2	2	2
Professional fees	2	2	2	2	1
FDIC insurance and regulatory assessments	2	2	1	813,000	583,000
Promotion and advertising	505,000	533,000	614,000	543,000	684,000
Directors fees	677,000	640,000	680,000	682,000	593,000
Foundation donation and other contributions	3	2	2	3	3
Other expenses	4	3	3	3	1
Total noninterest expense	56	50	48	45	36
INCOME BEFORE INCOME TAX EXPENSE	35	29	33	47	41
Income tax expense	10	8	10	13	12
NET INCOME	26	21	24	33	29
"EARNINGS PER SHARE(""EPS"") - BASIC (USD per share)"	1.72	1.39	1.55	2.15	1.89
EPS - DILUTED (USD per share)	1.72	1.39	1.55	2.14	1.88

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	11	12	—	—	—
Interest-bearing deposits with banks	156	123	—	—	—
Cash and cash equivalents	167	135	91	83	115
AFS debt securities, at fair value	193	186	—	—	—
Other investments	17	16	16	12	11
Loans held-for-sale	11	5	2	44	89
Net Loans (net of allowance for credit losses of $27,975 and $24,796)	2,166	1,932	1,744	—	—
Premises and equipment, net	6	5	5	4	4
Accrued interest receivable	10	9	8	7	5
Servicing assets	10	11	12	13	13
Company owned life insurance	24	23	22	22	11
"Deferred tax assets (""DTA""), net"	12	15	13	14	8
"Other real estate owned (""OREO"")"	0	1	0	—	—
"Operating right-of-use (""ROU"") assets"	9	7	8	9	9
Other assets	25	20	31	17	12
Total assets	2,650	2,366	2,148	2,094	1,727
Noninterest-bearing	521	505	523	702	775
Money market and others	388	329	399	526	380
Time deposits greater than $250	684	566	434	356	207
Other time deposits	688	627	452	302	172
Total deposits	2,281	2,027	1,808	1,886	1,534
"Federal Home Loan Bank (""FHLB"") advances"	75	95	105	0	0
Subordinated note (net of unamortized debt issuance cost of $414,000)	25	0	—	—	—
Accrued interest payable	15	16	13	3	558,000
Operating lease liabilities	11	8	9	10	10
Other liabilities	16	15	21	19	17
Total liabilities	2,422	2,161	1,955	1,918	1,561
Preferred stock no par value; 10,000,000 shares authorized; no shares issued or outstanding	0	0	0	0	0
Common stock no par value; 50,000,000 shares authorized; 14,889,540 and 14,819,866 shares issued and outstanding	73	74	76	79	79
Additional paid-in capital	12	12	11	10	9
Retained earnings	153	135	121	106	79
Accumulated other comprehensive loss, net of tax	−10	−15	−15	−18	−1
Total shareholders equity	228	205	193	177	165
Total liabilities and shareholders' equity	2,650	2,366	2,148	2,094	1,727

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Provision for credit losses	4	3	2	3	522,000
Deferred income tax expense (benefit)	81,000	−2	3,000	1	−2
Depreciation, amortization and accretion, net	7	5	4	1	1
Stock-based compensation	699,000	1	1	1	558,000
Earnings on company owned life insurance	−704,000	−679,000	−620,000	−479,000	−255,000
OREO valuation adjustment and loss on sale	56,000	0	0	—	—
Proceed from OREO sale	829,000	0	0	—	—
Origination of loans held-for-sale	−133	−135	−108	−138	−177
Proceeds from sales of loans held-for-sale	131	137	155	197	123
Accrued interest receivable and other assets	−2	10	−8	269,000	6
Accrued interest payable and other liabilities	590,000	−958,000	6	−4	3
Net cash provided by operating activities	26	31	68	84	−28
Net change in loans receivable	−212	−184	−58	−139	−123
Proceeds from matured, called, or paid-down AFS debt securities	31	28	24	32	36
Purchase of AFS debt securities	−30	−19	−6	−116	−98
Purchase of loans	−24	−6	−28	−225	−98
Purchase of FHLB stock	−541,000	−87,000	−4	−1	−963,000
Purchase of premises and equipment, net	−3	−2	−2	−1	−1
Net change in investments in low-income housing partnerships	−5	−4	−3	−1	−829,000
Net cash used in investing activities	−243	−187	−76	−462	−286
Net change in deposits	253	220	−78	352	334
Proceeds from stock option exercise	0	160,000	888,000	608,000	89,000
Proceeds from FHLB advances	125	20	105	0	0
Repayment of FHLB advances	−145	−30	0	0	−5
Proceeds from issuance of subordinated note, net of cost	25	0	0	—	—
Repurchase of common stock	−706,000	−3	−4	0	−28,000
Cash dividend paid on common stock	−7	−7	−7	−7	−5
Payments related to tax-withholding for vested restricted stock awards	−778,000	−197,000	−98,000	−81,000	−434,000
Net cash provided by financing activities	249	200	16	346	323
Net change in cash and cash equivalents	32	44	8	−32	9
Federal	4	5	4	—	—
Total income taxes paid	7	8	8	—	—
Interest	73	69	43	9	4
Initial recognition of right-of-use assets	4	984,000	1	2	4
New commitments to low income housing partnership investments	5	0	6	5	4
Transfer of loan to OREO	0	1	0	0	—

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro