OP Bancorp Declares Quarterly Cash Dividend of $0.12 per Share

Rhea-AI Summary

OP Bancorp (NASDAQ: OPBK) declared a quarterly cash dividend of $0.12 per share, payable on February 23, 2023, to shareholders of record as of February 9, 2023. This announcement reinforces OP Bancorp's commitment to returning value to its shareholders.

The company serves small- and medium-sized businesses, particularly in ethnic minority communities across California and Texas. With ten branches and four loan production offices, OP Bancorp continues to focus on its growth strategy while addressing the banking needs in diverse communities.

Positive

• Declared a quarterly cash dividend of $0.12 per share, reinforcing shareholder value.
• Focus on serving small and medium businesses, indicating a targeted growth strategy.
• Strong community presence in diverse ethnic communities may enhance customer loyalty and engagement.

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 $0.12 per share of its common stock. The dividend is payable on or about February 23, 2023 to all shareholders of record as of the close of business on February 9, 2023.

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 Pleasanton, California, Atlanta, Georgia, Aurora, Colorado, and Lynnwood, 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/20230126005908/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 OPBK in January 2023?

OP Bancorp declared a quarterly cash dividend of $0.12 per share.

When is the dividend payment date for OP Bancorp?

The dividend is payable on February 23, 2023.

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

The record date for the dividend is February 9, 2023.

How often does OP Bancorp pay dividends?

OP Bancorp typically pays dividends quarterly.

What is the focus of OP Bancorp's banking services?

OP Bancorp focuses on serving small- and medium-sized businesses and ethnic minority communities.