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 of its common stock. This dividend will be payable on February 25, 2021 to shareholders of record as of the close of business on February 11, 2021. The company operates primarily through its banking subsidiary, Open Bank, with a focus on serving small- and medium-sized businesses, particularly within Korean and other ethnic minority communities across California and Texas.

Positive

• Quarterly cash dividend of $0.07 per share enhances shareholder income.
• Focus on underserved ethnic communities positions the bank for growth.

Negative

• None.

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 February 25, 2021 to all shareholders of record as of the close of business on February 11, 2021.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210128005268/en/

FAQ

What is the dividend amount declared by OP Bancorp for Q1 2021?

OP Bancorp declared a quarterly cash dividend of $0.07 per share.

When will OP Bancorp's dividend be paid to shareholders?

The dividend will be payable on February 25, 2021.

What is the record date for OP Bancorp's dividend?

The record date is February 11, 2021.

What communities does Open Bank serve?

Open Bank focuses on serving small- and medium-sized businesses, particularly in Korean and other ethnic minority communities.

What is the ticker symbol for OP Bancorp?

The ticker symbol for OP Bancorp is OPBK.