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OP Bancorp (OPBK) delivers relationship-focused banking services to diverse communities across California, Texas, and Nevada. This news hub provides investors and stakeholders with essential updates on the bank's operations, strategic initiatives, and community impact.
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OP Bancorp (NASDAQ: OPBK), the holding company of Open Bank, has announced a quarterly cash dividend of $0.12 per share of common stock. The dividend will be distributed to shareholders of record as of May 8, 2025, with payment scheduled for May 22, 2025.
OP Bancorp (OPBK) reported Q1 2025 net income of $5.6 million, or $0.37 per diluted share, up from $5.0 million ($0.33/share) in Q4 2024. Key highlights include:
- Net interest income increased to $17.4 million from $16.9 million
- Net interest margin improved to 3.01% from 2.96%
- Total assets grew to $2.51 billion, up 6.2%
- Gross loans increased to $2.04 billion, up 4.4%
- Total deposits reached $2.19 billion, up 8.0%
Credit quality metrics showed mixed results with nonperforming loans increasing to 0.51% of gross loans from 0.40%. The bank maintained strong capital levels with a CET1 ratio of 11.08% and increased book value per share to $14.09. A quarterly cash dividend of $0.12 per share was paid.
OP Bancorp (NASDAQ: OPBK) has announced key executive appointments as part of its 2025 succession plan. Christine Oh, 57, who has served as Executive Vice President and CFO since 2010, will assume the role of Executive Vice President and Chief Operating Officer effective March 3, 2025.
Jaehyun Park, 53, currently Senior Vice President and Controller, will succeed Oh as Executive Vice President and CFO. Park, who joined the bank in 2014, brings experience from Nara Bank and holds degrees in Economics, Finance, and Law.
CEO Min Kim expressed confidence in both appointments, highlighting Oh's 15-year tenure as CFO and extensive knowledge of the company, while emphasizing Park's community banking and leadership experience as valuable assets for the company's growth objectives.
OP Bancorp (NASDAQ: OPBK), the holding company of Open Bank, has announced a quarterly cash dividend of $0.12 per share of common stock. The dividend will be paid on February 20, 2025, to shareholders of record as of the close of business on February 6, 2025.
OP Bancorp (OPBK) reported Q4 2024 net income of $5.0 million, or $0.33 per diluted share, compared to $5.4 million ($0.36/share) in Q3 2024. Key financial metrics include:
- Net interest income increased to $16.9 million from $16.5 million in Q3
- Net interest margin slightly improved to 2.96% from 2.95%
- Total assets decreased to $2.37 billion from $2.39 billion
- Gross loans grew to $1.96 billion from $1.93 billion
- Total deposits declined to $2.03 billion from $2.06 billion
Credit quality metrics showed some deterioration with nonperforming loans increasing to 0.40% from 0.19% of gross loans. The bank maintained strong capital levels with a CET1 ratio of 11.35% and increased its book value per share to $13.83. The company paid a quarterly cash dividend of $0.12 per share.
OP Bancorp (NASDAQ: OPBK) has appointed Yeong Gwon Pak as Executive Vice President and Chief Credit Officer, effective December 30, 2024. Pak will succeed Sang Oh, who will become CEO in 2025, replacing current CEO Min Kim. Pak, 54, joins from Bank of Hope where he served as Senior Vice President and District Manager. He previously held executive positions at Commonwealth Business Bank, including Executive Vice President and Chief Lending Officer. With over 20 years of banking experience in Los Angeles area community banks, Pak holds a Bachelor's degree in Molecular and Cellular Biology from UC Berkeley.
OP Bancorp reported net income of $5.4 million and diluted earnings per share of $0.36 for Q3 2024, unchanged from Q2 2024. Total assets increased 4.2% to $2.39 billion, with gross loans up 3.3% to $1.93 billion and deposits growing 6.4% to $2.06 billion. Net interest income rose 1.9% to $16.5 million, while net interest margin slightly decreased to 2.95%. Credit quality remained strong with nonperforming loans to gross loans at 0.19%. The bank maintained well-capitalized status with a CET1 ratio of 11.57% and increased book value per share to $13.75.
OP Bancorp (NASDAQ: OPBK), the holding company of Open Bank, has announced a quarterly cash dividend of $0.12 per share of common stock. The dividend will be paid on November 21, 2024, to shareholders of record as of the close of business on November 7, 2024.
OP Bancorp (NASDAQ: OPBK), the holding company of Open Bank, has announced key leadership changes as part of its succession plan. CEO Min Kim will retire on June 30, 2025, after nearly 15 years of service, and will become Chair of the Board. Brian Choi, the current Chairman, will not seek reelection in 2025 and will assume the role of Chairman Emeritus. Sang K. Oh, currently Executive VP and Chief Credit Officer, will succeed Kim as CEO. Oh, 52, brings over 26 years of banking experience, primarily from Bank of Hope. The company views these changes as part of a well-considered plan to ensure exceptional leadership for the future.
OP Bancorp (NASDAQ: OPBK), the holding company of Open Bank, has announced a quarterly cash dividend of $0.12 per share of its common stock. The dividend will be payable on August 22, 2024 to shareholders of record as of the close of business on August 8, 2024. This announcement demonstrates the company's commitment to providing regular returns to its shareholders and may indicate confidence in its financial stability and future prospects.
