OP Bancorp Declares Quarterly Cash Dividend of $0.07 per Share

Rhea-AI Summary

OP Bancorp (NASDAQ: OPBK) has declared a quarterly cash dividend of $0.07 per share, payable on November 20, 2020 to shareholders of record as of November 6, 2020. The company operates Open Bank, focusing on small- and medium-sized businesses, particularly within Korean and ethnic minority communities across California and Texas. With nine branches in California and loan production offices in Georgia, Colorado, and Washington, OP Bancorp continues to strengthen its community banking services.

Positive

• Quarterly cash dividend of $0.07 per share enhances shareholder income.
• Focus on serving small- and medium-sized businesses may drive growth.

Negative

• None.

LOS ANGELES--(BUSINESS WIRE)--OP Bancorp (the “Company”) (NASDAQ: OPBK), the holding company of Open Bank (the “Bank”), announced today that its Board of Directors declared a quarterly cash dividend of $0.07 per share of its common stock. The dividend is payable on or about November 20, 2020 to all shareholders of record as of the close of business on November 6, 2020.

About OP Bancorp

OP Bancorp, the holding company for Open Bank (the “Bank”), is a California corporation whose common stock is quoted on the Nasdaq Global Market under the ticker symbol, “OPBK.” The Bank is engaged in the general commercial banking business in Los Angeles, Orange, and Santa Clara Counties, California and Carrollton, Texas and is focused on serving the banking needs of small- and medium-sized businesses, professionals, and residents with a particular emphasis on Korean and other ethnic minority communities. The Bank currently operates with nine full branch offices in Downtown Los Angeles, Los Angeles Fashion District, Los Angeles Koreatown, Gardena, Buena Park, and Santa Clara, California, and Carrollton, Texas. The Bank also has four loan production offices in Atlanta, Georgia, Aurora, Colorado, and Lynnwood and Seattle, Washington. The Bank commenced its operations on June 10, 2005 as First Standard Bank and changed its name to Open Bank in October 2010. Its headquarters is located at 1000 Wilshire Blvd., Suite 500, Los Angeles, California 90017. Phone 213.892.9999; www.myopenbank.com Member FDIC, Equal Housing Lender.