OP Bancorp Declares Quarterly Cash Dividend of $0.10 per Share

Rhea-AI Summary

OP Bancorp (NASDAQ: OPBK) announced a quarterly cash dividend of $0.10 per share, payable on May 26, 2022, to shareholders of record by May 12, 2022. This decision reflects the company's commitment to returning value to its shareholders while continuing to meet the banking needs of small and medium-sized businesses across various locations in California and Texas. The Bank has focused efforts on serving ethnic minority communities, enhancing its reach and customer base.

Positive

• Quarterly cash dividend of $0.10 per share signifies shareholder returns.
• Focus on serving small to medium-sized businesses enhances market position.

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 $0.10 per share of its common stock. The dividend is payable on or about May 26, 2022 to all shareholders of record as of the close of business on May 12, 2022.

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 ten full service branch offices in Downtown Los Angeles, Los Angeles Fashion District, Los Angeles Koreatown, Cerritos, 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/20220428006239/en/

Investor Relations

OP Bancorp

Christine Oh

EVP & CFO

213.892.1192

Christine.oh@myopenbank.com

Source: OP Bancorp

FAQ

What is the dividend amount declared by OP Bancorp?

OP Bancorp declared a quarterly cash dividend of $0.10 per share.

When will the dividend be paid to shareholders?

The dividend will be paid on May 26, 2022.

What is the record date for the dividend payment?

The record date for the dividend payment is May 12, 2022.

How does OP Bancorp support its local communities?

OP Bancorp focuses on serving the banking needs of small- and medium-sized businesses, especially within ethnic minority communities.