OP Bancorp
Business
OP Bancorp is a bank holding company that operates Open Bank, a commercial community bank serving small and medium-sized businesses, their owners, and retail customers with a focus on the Korean-American community. The bank provides commercial lending (CRE, C&I, SBA, residential mortgage, and consumer loans), retail deposit products, and complementary banking services through twelve full-service branches in California, Texas, and Nevada, plus five loan production offices. OP Bancorp operates as a single reportable segment through its wholly owned banking subsidiary, competing primarily through relationship-based banking, local decision-making, and community investment.
Summary from 10-K filed 2026-03-13
Financials
Consolidated Statement of Income
| Concept | Trend | 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
| Concept | Trend | 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
| Concept | Trend | 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
Material Events
Insiders
Institutional Holders
Frequently asked questions
What is OP Bancorp's CIK number?
OP Bancorp's SEC CIK number is 0001722010 (1722010). The CIK (Central Index Key) is the permanent identifier the SEC assigns to every EDGAR filer — unlike a ticker symbol, it never changes.
Where can I find OP Bancorp's SEC filings?
All of OP Bancorp's EDGAR filings — 10-K annual reports, 10-Q quarterly reports, 8-K material events, and insider transactions — are listed on this page, sourced live from SEC EDGAR.
When did OP Bancorp last report earnings?
OP Bancorp (OPBK) most recently filed an earnings 8-K with the SEC on Apr 23, 2026, furnishing its results under Item 2.02 (Results of Operations and Financial Condition). The earnings press release is attached to that filing (accession 0001722010-26-000009). This is OP Bancorp's most recent earnings filing of record — not a forecast of its next earnings date.
What is OP Bancorp's most recent earnings 8-K?
OP Bancorp's latest earnings 8-K (Item 2.02) was filed Apr 23, 2026 under accession 0001722010-26-000009. It carries the quarterly or annual earnings press release — the earliest official, SEC-filed version of the results.
View OP Bancorp's latest earnings 8-K →
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