OP Bancorp Reports Net Income for Second Quarter 2025 of $6.3 Million and Diluted Earnings Per Share of $0.42

Second Quarter 2025 Highlights compared with First Quarter 2025:

• Financial Results:
  • Net income of $6.3 million, compared to $5.6 million
  • Diluted earnings per share (“EPS”) of $0.42, compared to $0.37
  • Net interest income of $19.7 million, compared to $17.4 million
  • Net interest margin of 3.23%, compared to 3.01%
  • Provision for credit losses of $1.2 million, compared to $736 thousand
  • Total assets of $2.56 billion, compared to $2.51 billion
  • Gross loans of $2.07 billion, compared to $2.04 billion
  • Total deposits of $2.25 billion, compared to $2.19 billion
• Credit Quality:
  • Allowance for credit losses on loans to gross loans of 1.27%, compared to 1.24%
  • Net charge-offs ⁽¹⁾ to average gross loans of 0.06%, compared to 0.02%
  • Loans past due 30-89 days to gross loans of 0.47%, compared to 0.32%
  • Nonperforming loans to gross loans of 0.43%, compared to 0.51%
  • Criticized loans ⁽²⁾ to gross loans of 1.15%, compared to 1.13%
• Capital Levels:
  • Remained well-capitalized with a Common Equity Tier 1 (“CET1”) ratio of 11.01%
  • Book value per share increased to $14.36, compared to $14.09
  • Paid quarterly cash dividend of $0.12 per share for the periods

__________________________________________

(1) Annualized.

(2) Includes special mention, substandard, doubtful, and loss categories.

LOS ANGELES--(BUSINESS WIRE)-- OP Bancorp (the “Company”) (NASDAQ: OPBK), the holding company of Open Bank (the “Bank”), today reported its financial results for the second quarter of 2025. The Company reported net income of $6.3 million, or $0.42 diluted EPS, compared with $5.6 million, or $0.37 diluted EPS, for the first quarter of 2025, and $5.4 million, or $0.36 per diluted EPS, for the second quarter of 2024.

Sang K. Oh, President and Chief Executive Officer:

“I am honored to step into the role of Chief Executive Officer. As we look ahead, my priorities will be to strengthen our core banking operations, deepen customer engagement, and uphold the highest standards of trust and compliance. I am committed to delivering long-term value for our shareholders, supporting our customer’s financial goals, empowering our talented teams, and fostering a culture of integrity across the Company,” said Sang K. Oh, President and Chief Executive Officer.

Mr. Oh continued, “This was a solid quarter for OP Bancorp as we continued to execute on our clearly defined path to enhanced profitability. Our results were highlighted by sustained growth in loan and deposit portfolios, an expanded net interest margin, a more favorable deposit mix and an improved efficiency, all while continuing to maintain strong credit quality and capital position. We are also proud to announce the opening of our new full-service branch in Garden Grove, California, further expanding our footprint and enhancing accessibility for our customers in the region,” said Sang K. Oh, President and Chief Executive Officer.

SELECTED FINANCIAL HIGHLIGHTS
($ in thousands, except per share data)		As of and For the Quarter												% or Basis Point Change 2Q2025 vs.
		2Q2025				1Q2025				2Q2024				1Q2025			2Q2024
Selected Income Statement Data:
Net interest income		$	19,721			$	17,418			$	16,194			13	%		22	%
Provision for credit losses			1,206				736				617			64			95
Noninterest income			3,968				4,816				4,184			(18	)		(5	)
Noninterest expense			14,037				13,814				12,189			2			15
Income tax expense			2,113				2,124				2,136			(1	)		(1	)
Net income			6,333				5,560				5,436			14			17
Diluted EPS			0.42				0.37				0.36			14			17
Selected Balance Sheet Data:
Gross loans		$	2,071,580			$	2,043,885			$	1,870,106			1	%		11	%
Total deposits			2,254,728				2,189,871				1,940,821			3			16
Total assets			2,563,595				2,512,971				2,290,680			2			12
Average loans (1)			2,095,168				2,005,044				1,843,284			4			14
Average deposits			2,223,575				2,083,890				1,970,320			7			13
Credit Quality:
Nonperforming loans		$	8,916			$	10,412			$	4,389			(14	)%		103	%
Nonperforming loans to gross loans			0.43	%			0.51	%			0.23	%		(8) bps			20 bps
Criticized loans (2) to gross loans			1.15				1.13				0.88			2 bps			27 bps
Net (charge-offs) recoveries (3) to average gross loans			(0.06	)			(0.02	)			0.00			(4) bps			(6) bps
Allowance for credit losses on loans to gross loans			1.27				1.24				1.22			3 bps			5 bps
Allowance for credit losses on loans to nonperforming loans			295				244				519			51	%		(224	)%
Financial Ratios:
Return on average assets ("ROA") (3)			1.00	%			0.92	%			0.95	%		8 bps			5 bps
Return on average equity ("ROE") (3)			11.97				10.73				11.23			124 bps			74 bps
Net interest margin (3)			3.23				3.01				2.96			22 bps			27 bps
Efficiency ratio (4)			59.25				62.13				59.81			(288) bps			(56) bps
CET1 capital			11.01				10.97				12.01			4 bps			(100) bps
Tier 1 leverage capital			8.96				9.22				9.28			(26) bps			(32) bps
Book value per common share		$	14.36			$	14.09			$	13.23			2	%		9	%

(1)		Includes loans held-for-sale.
(2)		Includes special mention, substandard, doubtful, and loss categories.
(3)		Annualized.
(4)		Represents noninterest expense divided by the sum of net interest income and noninterest income.

INCOME STATEMENT HIGHLIGHTS
Net Interest Income and Net Interest Margin
($ in thousands)		For the Three Months Ended									% Change 2Q2025 vs.
		2Q2025			1Q2025			2Q2024			1Q2025			2Q2024
Interest Income
Interest income		$	37,665		$	34,859		$	34,357		8	%		10	%
Interest expense			17,944			17,441			18,163		3			(1	)
Net interest income		$	19,721		$	17,418		$	16,194		13	%		22	%

($ in thousands)		For the Three Months Ended																		Average Yield/Rate Change 2Q2025 vs.
		2Q2025						1Q2025						2Q2024
		Interest Income/Expense			Average Yield/Rate(1)			Interest Income/Expense			Average Yield/Rate(1)			Interest Income/Expense			Average Yield/Rate(1)			1Q2025		2Q2024
Interest-earning Assets:
Loans		$	34,263		6.56	%		$	31,689		6.39	%		$	30,605		6.67	%		17 bps		(11) bps
Total interest-earning assets			37,665		6.18				34,859		6.04				34,357		6.29			14 bps		(11) bps
Interest-bearing Liabilities:
Interest-bearing deposits			17,475		4.18				16,608		4.31				17,343		4.84			(13) bps		(66) bps
Total interest-bearing liabilities			17,944		4.18				17,441		4.31				18,163		4.81			(13) bps		(63) bps
Ratios:
Net interest income / interest rate spreads			19,721		2.00				17,418		1.73				16,194		1.48			27 bps		52 bps
Net interest margin					3.23						3.01						2.96			22 bps		27 bps
Total deposits / cost of deposits			17,475		3.15				16,608		3.23				17,343		3.54			(8) bps		(39) bps
Total funding liabilities / cost of funds			17,944		3.17				17,441		3.27				18,163		3.57			(10) bps		(40) bps

(1)

Annualized.

($ in thousands)		For the Three Months Ended																					Average Yield Change 2Q2025 vs.
		2Q2025							1Q2025							2Q2024
		Interest Income				Average Yield(1)			Interest Income				Average Yield(1)			Interest Income				Average Yield(1)			1Q2025		2Q2024
Loan Yield Component:
Contractual interest rate		$	33,405			6.39	%		$	31,240			6.30	%		$	29,719			6.48	%		9 bps		(9) bps
Accretion of SBA loan discount(2)			785			0.15				683			0.14				1,087			0.24			1 bps		(9) bps
Amortization of net deferred fees			(42	)		(0.01	)			(106	)		(0.02	)			(44	)		(0.01	)		1 bps		0 bps
Amortization of premium			(392	)		(0.07	)			(490	)		(0.10	)			(396	)		(0.09	)		3 bps		2 bps
Net interest recognized on nonaccrual loans			(36	)		(0.01	)			43			0.01				(3	)		(0.00	)		(2) bps		(1) bps
Prepayment penalty income and other fees(3)			543			0.11				319			0.06				242			0.05			5 bps		6 bps
Yield on loans		$	34,263			6.56	%		$	31,689			6.39	%		$	30,605			6.67	%		17 bps		(11) bps

(1)		Annualized.
(2)		Includes discount accretion from SBA loan payoffs of $293 thousand, $193 thousand and $564 thousand for the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively.
(3)		Includes prepayment penalty income of $148 thousand, $67 thousand and $26 thousand for the three months ended June 30, 2025, March 31, 2025 and June 30, 2024, respectively, from Commercial Real Estate (“CRE”) loans.

Second Quarter 2025 vs. First Quarter 2025

Net interest income increased $2.3 million, or 13%, primarily due to loan growth, higher loan yields and lower deposit costs, partially offset by deposit growth. Net interest margin increased 22 basis points to 3.23% from 3.01%.

• Interest income on loans increased $2.6 million, primarily driven by a $90.1 million increase in average loan balances and a 17 basis point improvement in loan yields, reflecting higher new loans rates compared to the prior quarter. The increase in loan yields also benefited from higher prepayment penalties and other related income, and lower amortization of premiums.

• Interest expense on deposits increased $867 thousand, primarily due to a $114.2 million increase in average interest-bearing deposit balances, partially offset by a 13 basis point decline in interest-bearing deposit costs, reflecting the repricing of time deposits in response to the downward shift in federal funds rate that begun in the latter part of 2024.

Second Quarter 2025 vs. Second Quarter 2024

Net interest income increased $3.5 million, or 22%, primarily due to loan growth. Net interest margin increased 27 basis points to 3.23% from 2.96%.

• Interest income on loans increased $3.7 million, primarily driven by a $251.9 million increase in average loan balances, partially offset by an 11 basis point decline in loan yields. The decline in loan yields was attributable to new loan originations at lower rates following the recent decrease in the federal funds rate.

• Interest expense on deposits remained relatively unchanged, as the impact of a $234.9 million increase in average interest-bearing deposit balances was offset by a 66 basis point decline in interest-bearing deposit costs. The decline in deposit costs was primarily due to the repricing of deposit products in response to the recent decrease in federal funds rate.

Provision for Credit Losses
($ in thousands)		For the Three Months Ended											$ Change 2Q2025 vs.
		2Q2025				1Q2025			2Q2024				1Q2025				2Q2024
Provision for credit losses on loans		$	1,255			$	687		$	627			$	568			$	628
Provision for (reversal of) credit losses on off-balance sheet exposure			(49	)			49			(10	)			(98	)			(39	)
Provision for credit losses		$	1,206			$	736		$	617			$	470			$	589

Second Quarter 2025 vs. First Quarter 2025

Provision for credit losses on loans increased $568 thousand, primarily due to higher historical loss factors from risk rating downgrades within the CRE portfolio and net charge-offs recognized during the quarter, partially offset by an improved qualitative outlook.

Second Quarter 2025 vs. Second Quarter 2024

Provision for credit losses on loans increased $628 thousand, primarily due to higher historical loss factors from risk rating downgrades and net charge-offs recognized during the quarter, partially offset by an improved qualitative outlook.

Noninterest Income
($ in thousands)		For the Three Months Ended									% Change 2Q2025 vs.
		2Q2025			1Q2025			2Q2024			1Q2025			2Q2024
Noninterest Income
Service charges on deposits		$	1,017		$	1,000		$	793		2	%		28	%
Loan servicing fees, net of amortization			900			1,007			575		(11	)		57
Gains on sale of loans			1,441			2,019			2,325		(29	)		(38	)
Other income			610			790			491		(23	)		24
Total noninterest income		$	3,968		$	4,816		$	4,184		(18	)%		(5	)%

Second Quarter 2025 vs. First Quarter 2025

Noninterest income decreased $848 thousand, or 18%, primarily due to lower gains on sale of loans, other income and loan servicing fees.

• Gains on sale of loans declined $578 thousand, primarily due to reduced SBA loan sale activity and lower average premium rates. During the quarter, the Bank sold $25.3 million in SBA loans at an average premium rate of 7.05%, compared to the sale of $31.1 million at an average premium rate of 8.08%.

• Other income decreased $180 thousand, primarily due to a reduction in credit-related fees collected.

• Loan servicing fees, net of amortization, decreased $107 thousand, primarily due to increased amortization of servicing assets, driven by elevated payoff activities in servicing portfolio.

Second Quarter 2025 vs. Second Quarter 2024

Noninterest income decreased $216 thousand, or 5%, primarily due to lower gains on sale of loans, partially offset by higher loan servicing fees and service charges on deposits.

• Gain on sale of loans declined $884 thousand, primarily due to reduced SBA loan sale activity and lower average premium rates. The Bank sold $25.3 million in SBA loans at an average premium rate of 7.05%, compared to the sale of $32.1 million at an average premium rate of 8.58%.

• Loan servicing fees, net of amortization, increased $325 thousand, primarily due to reduced amortization expense of servicing assets, resulting from decreased loan payoff activities.

• Service charges on deposits increased $224 thousand, primarily driven by higher deposit analysis fees, reflecting continued growth in the number of business customer accounts.

Noninterest Expense
($ in thousands)		For the Three Months Ended									% Change 2Q2025 vs.
		2Q2025			1Q2025			2Q2024			1Q2025			2Q2024
Noninterest Expense
Salaries and employee benefits		$	9,075		$	8,776		$	7,568		3	%		20	%
Occupancy and equipment			1,584			1,581			1,660		0			(5	)
Data processing and communication			306			296			530		3			(42	)
Professional fees			418			407			406		3			3
FDIC insurance and regulatory assessments			506			487			378		4			34
Promotion and advertising			232			156			151		49			54
Directors’ fees			198			180			178		10			11
Foundation donation and other contributions			636			556			539		14			18
Other expenses			1,082			1,375			779		(21	)		39
Total noninterest expense		$	14,037		$	13,814		$	12,189		2	%		15	%

Second Quarter 2025 vs. First Quarter 2025

Noninterest expense increased $223 thousand, or 2%, primarily due to higher salaries and employee benefits, foundation donation and other contributions, and promotion and advertising, partially offset by a reduction in other expenses.

• Salaries and employee benefits increased $299 thousand, primarily due to higher incentive accruals and merit-based salary adjustments, partially offset by lower vacation and payroll tax accruals. Higher health insurance costs and lower loan origination costs also contributed to the increase in employee benefits.

• Foundation donation and other contributions increased $80 thousand, primarily due to higher donation accruals for the Open Stewardship Foundation, reflecting increased net income.

• Promotion and advertising increased $76 thousand, primarily due to a one-time accrual adjustment recorded during the second quarter of 2025.

• Other expenses decreased $293 thousand, primarily reflecting a return to normal credit-related expense level following an abnormally high amount in the prior quarter.

Second Quarter 2025 vs. Second Quarter 2024

Noninterest expense increased $1.8 million, or 15%, primarily due to higher salaries and employee benefits, and other expenses, as well as increased FDIC insurance and regulatory assessments, partially offset by a reduction in data processing and communication.

• Salaries and employee benefits increased $1.5 million, primarily due to higher incentive accruals as well as staffing growth and annual merit-based salary adjustments.

• Other expenses increased $303 thousand, primarily due to higher credit-related and business development expenses.

• FDIC insurance and regulatory assessments increased $128 thousand, primarily due to higher FDIC assessment charges. The increase was largely driven by growth in the Bank’s total assets, which expanded the assessment base, along with higher assessment rates.

• Data processing and communication decreased $224 thousand, primarily due to contractual credits received following the conversion to a new core banking system in the fourth quarter of 2024.

Income Tax Expense

Second Quarter 2025 vs. First Quarter 2025

Income tax expense was $2.1 million for both periods. The effective tax rate decreased to 25.02% from 27.64%. The decrease in effective tax rate was primarily attributable to the revaluation of deferred tax assets resulting from recent California state tax legislation. Additional contributing factors included changes in estimates related to the adoption of an enhanced interim state tax apportionment methodology and increased tax losses from a new investment in low-income housing partnerships.

Second Quarter 2025 vs. Second Quarter 2024

Income tax expense was $2.1 million for both periods. The effective tax rate decreased to 25.02% from 28.21%. The decrease in effective tax rate was primarily attributable to the revaluation of deferred tax assets resulting from recent California state tax legislation. Additional contributing factors included changes in estimates related to the adoption of an enhanced interim state tax apportionment methodology and higher discrete benefits associated with stock-based compensation.

BALANCE SHEET HIGHLIGHTS
Loans
($ in thousands)		As of									% Change 2Q2025 vs.
		2Q2025			1Q2025			2Q2024			1Q2025			2Q2024
CRE loans		$	1,021,431		$	1,023,278		$	931,284		0	%		10	%
SBA loans			263,424			258,778			242,395		2			9
C&I loans			193,359			202,250			188,557		(4	)		3
Home mortgage loans			593,256			559,543			506,873		6			17
Consumer & other loans			110			36			997		206			(89	)
Gross loans		$	2,071,580		$	2,043,885		$	1,870,106		1	%		11	%

The following table presents loan originations and the corresponding weighted average contractual rates for the periods indicated:

($ in thousands)		For the Three Months Ended																		% Change in Amounts 2Q2025 vs.
		2Q2025						1Q2025						2Q2024						1Q2025			2Q2024
		Amount			Rate			Amount			Rate			Amount			Rate
CRE loans		$	39,734		7.00	%		$	69,889		7.03	%		$	48,284		7.49	%		(43	)%		(18	)%
SBA loans			33,811		8.64				18,206		8.81				13,570		9.80			86			149
C&I loans			3,136		7.72				506		8.18				5,961		8.05			520			(47	)
Home mortgage loans			54,837		6.64				74,004		6.42				13,539		7.33			(26	)		305
Consumer & other loans			—		—				40		6.05				—		—			(100	)		—
Gross loans (1)		$	131,518		7.29	%		$	162,645		6.95	%		$	81,354		7.89	%		(19	)%		62	%

(1)

Excludes changes in line utilization.

The following table summarizes the loan activity for the periods indicated:

($ in thousands)		For the Three Months Ended
		2Q2025				1Q2025				2Q2024
Beginning Balance		$	2,043,885			$	1,956,852			$	1,804,987
Originations			131,518				162,645				81,354
Net change in line utilization			27,287				12,841				57,698
Purchases			1,750				12,028				5,559
Sales			(26,734	)			(36,086	)			(32,102	)
Payoffs & paydowns			(90,923	)			(65,572	)			(56,612	)
Decrease (increase) in loans held for sale			(15,461	)			26				9,590
Other			258				1,151				(368	)
Total			27,695				87,033				65,119
Ending balance		$	2,071,580			$	2,043,885			$	1,870,106

The following table presents the composition of gross loans by interest rate type accompanied with the weighted average contractual rates as of the periods indicated:

($ in thousands)		As of
		2Q2025						1Q2025						2Q2024
		%			Rate			%			Rate			%			Rate
Fixed rate		30.8	%		5.54	%		32.8	%		5.55	%		36.2	%		5.39	%
Hybrid rate		39.9			5.81			37.4			5.71			33.9			5.42
Variable rate		29.3			8.16			29.8			8.20			29.9			9.19
Gross loans		100.0	%		6.42	%		100.0	%		6.40	%		100.0	%		6.54	%

The following table presents the maturity of gross loans by interest rate type accompanied with the weighted average contractual rates for the periods indicated:

($ in thousands)		As of June 30, 2025
		Within One Year						One Year Through Five Years						After Five Years						Total
		Amount			Rate			Amount			Rate			Amount			Rate			Amount			Rate
Fixed rate		$	164,959		5.51	%		$	276,925		5.92	%		$	195,603		5.04	%		$	637,487		5.54	%
Hybrid rate			—		—				212,624		4.58				614,965		6.23				827,589		5.81
Variable rate			83,691		7.87				143,054		7.80				379,759		8.37				606,504		8.16
Gross loans		$	248,650		6.30	%		$	632,603		5.89	%		$	1,190,327		6.72	%		$	2,071,580		6.42	%

Allowance for Credit Losses

The following table summarizes the activity in the allowance for credit losses for the periods presented:

($ in thousands)		As of and For the Three Months Ended												$ Change 2Q2025 vs.
		2Q2025				1Q2025				2Q2024				1Q2025				2Q2024
Allowance for credit losses on loans, beginning		$	25,368			$	24,796			$	22,129			$	572			$	3,239
Provision for credit losses on loans			1,255				687				627				568				628
Gross charge-offs			(542	)			(130	)			—				(412	)			(542	)
Gross recoveries			205				15				4				190				201
Net (charge-offs) recoveries			(337	)			(115	)			4				(222	)			(341	)
Allowance for credit losses on loans, ending		$	26,286			$	25,368			$	22,760			$	918			$	3,526
Allowance for credit losses on off-balance sheet exposure, beginning		$	409			$	360			$	468			$	49			$	(59	)
Provision for (reversal of) credit losses on off-balance sheet exposure			(49	)			49				(10	)			(98	)			(39	)
Allowance for credit losses on off-balance sheet exposure, ending		$	360			$	409			$	458			$	(49	)		$	(98	)

Asset Quality
($ in thousands)		As of and For the Three Months Ended												% or Basis Point Change 2Q2025 vs.
		2Q2025				1Q2025				2Q2024				1Q2025			2Q2024
Accruing loans 30-89 days past due		$	9,804			$	6,452			$	6,652			52	%		47	%
As a % of gross loans			0.47	%			0.32	%			0.36	%		15 bps			11 bps
Nonperforming loans (1)		$	8,916			$	10,412			$	4,389			(14	)%		103	%
Nonperforming assets (1)			10,153				11,649				5,626			(13	)		80
Nonperforming loans to gross loans			0.43	%			0.51	%			0.23	%		(8) bps			20 bps
Nonperforming assets to total assets			0.40				0.46				0.25			(6) bps			15 bps
Criticized loans (2)(3)		$	23,758			$	23,055			$	16,428			3.0	%		44.6	%
Criticized loans to gross loans			1.15	%			1.13	%			0.88	%		2 bps			27 bps
Allowance for credit losses ratios:
As a % of gross loans			1.27	%			1.24	%			1.22	%		3 bps			5 bps
As a % of nonperforming loans			295				244				519			51	%		(224	)%
As a % of nonperforming assets			259				218				405			41			(146	)
As a % of criticized loans			111				110				139			1			(28	)
Net (charge-offs) recoveries (4) to average gross loans			(0.06	)			(0.02	)			0.00			(4) bps			(6) bps

(1)		Excludes the guaranteed portion of loans that were in liquidation totaling $13.9 million, $14.3 million and $3.5 million as of June 30, 2025, March 31, 2025 and June 30, 2024, respectively.
(2)		Excludes the guaranteed portion of loans that were in liquidation totaling $17.1 million, $17.2 million and $3.5 million as of June 30, 2025, March 31, 2025 and June 30, 2024, respectively.
(3)		Consists of special mention, substandard, doubtful and loss categories.
(4)		Annualized.

Credit quality remained strong, with nonperforming loans declining to 0.43% of gross loans and annualized net charge-offs at a low 0.06%. The allowance remained adequate at 1.27% of gross loans.

• Accruing loans 30-89 days past due increased to $9.8 million or 0.47% of gross loans, compared with $6.5 million or 0.32% in the prior quarter.

• Nonperforming loans decreased $1.5 million, primarily attributable to increased payoffs across various loan categories, partially offset by the addition of a new nonaccrual home mortgage loan.

• Criticized loans increased $703 thousand, primarily attributable to the downgrade of SBA and home mortgage loans, partially offset by the payoffs of certain home mortgage loans and partial charge-offs.

Deposits
($ in thousands)		As of																		% Change 2Q2025 vs.
		2Q2025						1Q2025						2Q2024
		Amount			%			Amount			%			Amount			%			1Q2025			2Q2024
Noninterest-bearing deposits		$	565,683		25.1	%		$	552,797		25.2	%		$	518,456		26.7	%		2	%		9	%
Money market deposits and others			431,252		19.1				385,080		17.6				332,137		17.1			12			30
Time deposits			1,257,793		55.8				1,251,994		57.2				1,090,228		56.2			0			15
Total deposits		$	2,254,728		100.0	%		$	2,189,871		100.0	%		$	1,940,821		100.0	%		3	%		16	%
Estimated uninsured deposits		$	1,156,311		51	%		$	1,072,753		49	%		$	860,419		44	%		8	%		34	%

As of June 30, 2025 vs. March 31, 2025

Total deposits increased $64.9 million or 3%, primarily driven by a $46.2 million increase in money market deposits and others, along with a $12.9 million increase in noninterest-bearing deposits. This growth reflects our continued strategic focus on expanding lower-cost deposit products, resulting in growth in both noninterest-bearing and money market deposit balances.

As of June 30, 2025 vs. June 30, 2024

Total deposits increased $313.9 million or 16%, primarily driven by growth of $167.6 million in time deposits, $99.1 million in money market deposits and others, and $47.2 million in noninterest-bearing deposits. This strong deposit growth reflects the continued strategic focus on developing and deepening deposit relationships with both new and existing customers.

The following table sets forth the maturity of time deposits as of June 30, 2025:

		As of June 30, 2025
($ in thousands)		Within Three Months				Three to Six Months				Six to Nine Months				Nine to Twelve Months				After Twelve Months				Total
Time deposits (greater than $250)		$	235,531			$	146,560			$	154,074			$	107,185			$	—			$	643,350
Time deposits ($250 or less)			257,458				150,671				121,833				82,293				2,188				614,443
Total time deposits		$	492,989			$	297,231			$	275,907			$	189,478			$	2,188			$	1,257,793
Weighted average rate			4.48	%			4.27	%			4.25	%			4.27	%			3.22	%			4.34	%

OTHER HIGHLIGHTS

Liquidity

The Company maintains ample access to liquidity, including highly liquid assets on our balance sheet and available unused borrowings from other financial institutions. The following table presents the Company's liquid assets and available borrowings as of dates presented:

($ in thousands)		2Q2025				1Q2025				2Q2024
Liquidity Assets:
Cash and cash equivalents		$	205,388			$	198,861			$	127,676
Available-for-sale debt securities			175,000				182,480				199,205
Liquid assets		$	380,388			$	381,341			$	326,881
Liquid assets to total assets			15	%			15	%			14	%
Available Borrowings:
Federal Home Loan Bank ("FHLB") —San Francisco		$	443,207			$	381,456			$	343,600
Federal Reserve Bank			223,373				217,563				191,421
Pacific Coast Bankers Bank			50,000				50,000				50,000
Zions Bank			25,000				25,000				25,000
First Horizon Bank			25,000				25,000				25,000
Total available borrowings		$	766,580			$	699,019			$	635,021
Total available borrowings to total assets			30	%			28	%			28	%
Liquid assets and available borrowings to total deposits			51	%			49	%			50	%

Capital and Capital Ratios

On July 24, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.12 per share of its common stock. The dividend is payable on or about August 21, 2025, to shareholders of record as of the close of business on August 7, 2025. The principal source of funds from which the Company pays dividends are the dividends received from the Bank. Future dividends are subject to Board of Directors’ approval and will depend on the Company’s earnings, financial condition, capital requirements, and other relevant factors. During the second quarter of 2025, the Company repurchased 65,387 shares of its common stock at an average price of $10.77 per share under the Company’s previously announced share repurchase program.

		OP Bancorp(1)			Open Bank			Well- Capitalized Requirement			Minimum Capital Ratio+ Conservation Buffer(2)
Risk-Based Capital Ratios (3):
Total capital		12.26	%		12.15	%		10.00	%		10.50	%
Tier 1 capital		11.01			10.90			8.00			8.50
CET1 capital		11.01			10.90			6.50			7.00
Tier 1 leverage		8.96			8.87			5.00			4.00

(1)		The capital requirements are only applicable to the Bank, and the Company's ratios are included for comparison purpose.
(2)		An additional 2.5% capital conservation buffer above the minimum capital ratios are required in order to avoid limitations on distributions, including dividend payments and certain discretionary bonuses to executive officers. This buffer does not apply and is not included in the tier 1 leverage ratio.
(3)		The Company’s June 30, 2025 regulatory capital ratios and risk-weighted assets are preliminary.

OP Bancorp															% or Basis Point Change 2Q2025 vs.
		2Q2025					1Q2025				2Q2024				1Q2025			2Q2024
Risk-Based Capital Ratios:
Total capital			12.26	%	(1)			12.22	%			13.26	%		4 bps			(100) bps
Tier 1 capital			11.01		(1)			10.97				12.01			4 bps			(100) bps
CET1 capital			11.01		(1)			10.97				12.01			4 bps			(100) bps
Tier 1 leverage			8.96		(1)			9.22				9.28			(26) bps			(32) bps
Risk-weighted Assets ($ in thousands)		$	2,062,986		(1)		$	2,034,969			$	1,776,821			1	%		16	%

(1)

The Company’s June 30, 2025 regulatory capital ratios and risk-weighted assets are preliminary.

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 in California, the Dallas metropolitan area in Texas, and Clark County in Nevada 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 twelve full-service branch offices in Downtown Los Angeles, Los Angeles Fashion District, Los Angeles Koreatown, Cerritos, Gardena, Buena Park, Garden Grove and Santa Clara, California; Carrollton, Texas; and Las Vegas, Nevada. The Bank also has five loan production offices in Pleasanton, California; Atlanta, Georgia; Aurora, Colorado; Lynnwood, Washington; and Fairfax, Virginia. 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.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain matters set forth herein constitute “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. All statements that are not statements of historical fact are forward-looking, and readers should not construe these statements of assurances of expected or intended results, or of promises that management will take a given course of action or pursue the currently expected strategies and objectives. Forward-looking statements in this report include comments about the Company’s current business plans and expectations regarding future operating results, as well as management’s statements about expected future events and economic developments, plans, strategies and objectives. All such statements reflect the current intentions, beliefs and expectations of the Company’s executive management based on currently available information and current and expected market conditions. Forward-looking statements can sometimes be identified by the use of forward-looking language, such as “likely result in,” “expects,” “anticipates,” “estimates,” “forecasts,” “projects,” “intends to,” or may include other similar words or phrases, such as “believes,” “plans,” “trend,” “objective,” “continues,” “remains,” or similar expressions, or future or conditional verbs, such as “will,” “would,” “should,” “could,” “may,” “might,” “can,” or similar verbs. Readers should not construe these statements as assurances of a given level of performance, or as promises that we will take the actions our management currently expects.

Our forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those projected or could cause us to change plans or strategies or otherwise to take actions that differ from those we currently expect. The known risks and uncertainties that may have these effects are described in Part II, Item 1A, of our Quarterly Report on Form 10-Q for the period ended March 31, 2025, and in our other filings with the Securities and Exchange Commission. You should read all forward-looking statements in the context of the foregoing and should not consider them to be reliable predictions of future events or as assurances of a particular level of performance or intended course of action. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

CONSOLIDATED BALANCE SHEETS (unaudited)
($ in thousands)		As of												% Change 2Q2025 vs.
		2Q2025				1Q2025				2Q2024				1Q2025			2Q2024
Assets
Cash and due from banks		$	16,592			$	12,575			$	21,771			32	%		(24	)%
Interest-bearing deposits with banks			188,796				186,286				105,905			1			78
Cash and cash equivalents			205,388				198,861				127,676			3			61
Available-for-sale debt securities, at fair value			175,000				182,480				199,205			(4	)		(12	)
Other investments			17,101				16,517				16,367			4			4
Loans held-for-sale			20,016				4,555				6,485			339			209
CRE loans			1,021,431				1,023,278				931,284			0			10
SBA loans			263,424				258,778				242,395			2			9
C&I loans			193,359				202,250				188,557			(4	)		3
Home mortgage loans			593,256				559,543				506,873			6			17
Consumer loans			110				36				997			206			(89	)
Gross loans			2,071,580				2,043,885				1,870,106			1			11
Allowance for credit losses on loans			(26,286	)			(25,368	)			(22,760	)		4			15
Net loans			2,045,294				2,018,517				1,847,346			1			11
Premises and equipment, net			6,852				6,526				4,716			5			45
Accrued interest receivable			9,991				9,871				8,555			1			17
Servicing assets			10,572				10,848				11,043			(3	)		(4	)
Company owned life insurance			23,259				23,084				22,566			1			3
Deferred tax assets, net			12,633				13,183				14,117			(4	)		(11	)
Other real estate owned ("OREO")			1,237				1,237				1,237			—			—
Operating right-of-use assets			9,887				6,930				8,348			43			18
Other assets			26,365				20,362				23,019			29			15
Total assets		$	2,563,595			$	2,512,971			$	2,290,680			2	%		12	%
Liabilities and Shareholders' Equity
Liabilities:
Noninterest-bearing		$	565,683			$	552,797			$	518,456			2	%		9	%
Money market and others			431,252				385,080				332,137			12			30
Time deposits greater than $250			643,350				610,783				533,857			5			21
Other time deposits			614,443				641,211				556,371			(4	)		10
Total deposits			2,254,728				2,189,871				1,940,821			3			16
FHLB advances			50,000				75,000				115,000			(33	)		(57	)
Accrued interest payable			15,720				14,994				15,504			5			1
Operating lease liabilities			12,243				9,193				9,000			33			36
Other liabilities			17,186				13,824				14,369			24			20
Total liabilities			2,349,877				2,302,882				2,094,694			2			12
Shareholders' equity:
Common stock			72,984				73,697				73,749			(1	)		(1	)
Additional paid-in capital			11,484				11,371				11,441			1			0
Retained earnings			143,114				138,563				127,929			3			12
Accumulated other comprehensive loss, net of tax			(13,864	)			(13,542	)			(17,133	)		2			(19	)
Total shareholders’ equity			213,718				210,089				195,986			2			9
Total liabilities and shareholders' equity		$	2,563,595			$	2,512,971			$	2,290,680			2	%		12	%

CONSOLIDATED STATEMENTS OF INCOME (unaudited)
($ in thousands, except share and per share data)		For the Three Months Ended									% Change 2Q2025 vs.
		2Q2025			1Q2025			2Q2024			1Q2025			2Q2024
Interest income
Interest and fees on loans		$	34,263		$	31,689		$	30,605		8	%		12	%
Interest on available-for-sale debt securities			1,437			1,496			1,590		(4	)		(10	)
Other interest income			1,965			1,674			2,162		17			(9	)
Total interest income			37,665			34,859			34,357		8			10
Interest expense
Interest on deposits			17,475			16,608			17,343		5			1
Interest on borrowings			469			833			820		(44	)		(43	)
Total interest expense			17,944			17,441			18,163		3			(1	)
Net interest income			19,721			17,418			16,194		13			22
Provision for credit losses			1,206			736			617		64			95
Net interest income after provision for credit losses			18,515			16,682			15,577		11			19
Noninterest income
Service charges on deposits			1,017			1,000			793		2			28
Loan servicing fees, net of amortization			900			1,007			575		(11	)		57
Gains on sale of loans			1,441			2,019			2,325		(29	)		(38	)
Other income			610			790			491		(23	)		24
Total noninterest income			3,968			4,816			4,184		(18	)		(5	)
Noninterest expense
Salaries and employee benefits			9,075			8,776			7,568		3			20
Occupancy and equipment			1,584			1,581			1,660		0			(5	)
Data processing and communication			306			296			530		3			(42	)
Professional fees			418			407			406		3			3
FDIC insurance and regulatory assessments			506			487			378		4			34
Promotion and advertising			232			156			151		49			54
Directors’ fees			198			180			178		10			11
Foundation donation and other contributions			636			556			539		14			18
Other expenses			1,082			1,375			779		(21	)		39
Total noninterest expense			14,037			13,814			12,189		2			15
Income before income tax expense			8,446			7,684			7,572		10			12
Income tax expense			2,113			2,124			2,136		(1	)		(1	)
Net income		$	6,333		$	5,560		$	5,436		14	%		17	%
Book value per share, at period-end		$	14.36		$	14.09		$	13.23		2	%		9	%
EPS - basic			0.42			0.37			0.36		14			17
EPS - diluted			0.42			0.37			0.36		14			17
Shares of common stock outstanding, at period-end			14,885,614			14,914,261			14,816,281		(0	)%		0	%
Weighted average shares:
- Basic			14,859,718			14,857,234			14,868,344		0	%		0	%
- Diluted			14,859,718			14,857,234			14,868,344		0			0

KEY RATIOS
		As of and For the Three Months Ended									Basis Point Change 2Q2025 vs.
		2Q2025			1Q2025			2Q2024			1Q2025		2Q2024
ROA (1)		1.00	%		0.92	%		0.95	%		8 bps		5 bps
ROE (1)		11.97			10.73			11.23			124 bps		74 bps
Net interest margin (1)		3.23			3.01			2.96			22 bps		27 bps
Efficiency ratio (2)		59.25			62.13			59.81			(288) bps		(56) bps
Total risk-based capital ratio		12.26	%	(3)	12.22	%		13.26	%		4 bps		(100) bps
Tier 1 risk-based capital ratio		11.01		(3)	10.97			12.01			4 bps		(100) bps
CET1 capital ratio		11.01		(3)	10.97			12.01			4 bps		(100) bps
Tier 1 leverage capital ratio		8.96		(3)	9.22			9.28			(26) bps		(32) bps

(1)		Annualized.
(2)		Represents noninterest expense divided by the sum of net interest income and noninterest income.
(3)		The Company’s June 30, 2025 regulatory capital ratios and risk-weighted assets are preliminary.

CONSOLIDATED STATEMENTS OF INCOME (unaudited)
($ in thousands, except share and per share data)		For the Six Months Ended
		2Q2025			2Q2024			% Change
Interest income
Interest and fees on loans		$	65,952		$	60,747		9	%
Interest on available-for-sale debt securities			2,933			3,050		(4	)
Other interest income			3,639			3,473		5
Total interest income			72,524			67,270		8
Interest expense
Interest on deposits			34,083			33,018		3
Interest on borrowings			1,302			2,079		(37	)
Total interest expense			35,385			35,097		1
Net interest income			37,139			32,173		15
Provision for credit losses			1,942			762		155
Net interest income after provision for credit losses			35,197			31,411		12
Noninterest income
Service charges on deposits			2,017			1,405		44	%
Loan servicing fees, net of amortization			1,907			1,347		42
Gains on sale of loans			3,460			4,028		(14	)
Other income			1,400			990		41
Total noninterest income			8,784			7,770		13
Noninterest expense
Salaries and employee benefits			17,851			15,409		16
Occupancy and equipment			3,165			3,315		(5	)
Data processing and communication			602			1,017		(41	)
Professional fees			825			801		3
FDIC insurance and regulatory assessments			993			752		32
Promotion and advertising			388			300		29
Directors’ fees			378			335		13
Foundation donation and other contributions			1,192			1,079		10
Other expenses			2,457			1,338		84
Total noninterest expense			27,851			24,346		14
Income before income tax expense			16,130			14,835		9
Income tax expense			4,237			4,173		2
Net income		$	11,893		$	10,662		12	%
Book value per share, at period-end		$	14.36		$	13.23		9	%
EPS - basic			0.79			0.70		13
EPS - diluted			0.79			0.70		13
Shares of common stock outstanding, at period-end			14,885,614			14,816,281		0	%
Weighted average shares:
- Basic			14,858,483			14,930,090		0	%
- Diluted			14,858,483			14,930,090		0	%

KEY RATIOS
		As of and For the Six Months Ended						Basis Point Change 2Q2025 vs.
		2Q2025			2Q2024
ROA (1)		0.96	%		0.96	%		0 bps
ROE (1)		11.36			11.03			33 bps
Net interest margin		3.12			3.01			11 bps
Efficiency ratio (2)		60.65			60.95			(30) bps
Total risk-based capital ratio		12.26	%	(3)	13.26	%		(100) bps
Tier 1 risk-based capital ratio		11.01		(3)	12.01			(100) bps
CET1 capital ratio		11.01		(3)	12.01			(100) bps
Tier 1 leverage capital ratio		8.96		(3)	9.28			(32) bps

(1)		Annualized.
(2)		Represents noninterest expense divided by the sum of net interest income and noninterest income.
(3)		The Company’s June 30, 2025 regulatory capital ratios and risk-weighted assets are preliminary.

ASSET QUALITY
($ in thousands)		As of and For the Three Months Ended
		2Q2025				1Q2025				2Q2024
Nonaccrual loans (1)(2)		$	8,916			$	10,412			$	4,389
Loans 90 days or more past due, accruing			—				—				—
Nonperforming loans			8,916				10,412				4,389
OREO			1,237				1,237				1,237
Nonperforming assets		$	10,153			$	11,649			$	5,626
Criticized loans (3) by risk categories:
Special mention loans		$	9,257			$	7,190			$	3,339
Classified loans (4)			14,501				15,865				13,089
Total criticized loans		$	23,758			$	23,055			$	16,428
Nonperforming loans to gross loans			0.43	%			0.51	%			0.23	%
Nonperforming assets to gross loans & OREO			0.49				0.57				0.30
Nonperforming assets to total assets			0.40				0.46				0.25
Classified loans to gross loans			0.70				0.78				0.70
Criticized loans to gross loans			1.15				1.13				0.88
Allowance for credit losses ratios:
As a % of gross loans			1.27	%			1.24	%			1.22	%
As a % of nonperforming loans			295				244				519
As a % of nonperforming assets			259				218				405
As a % of classified loans			181				160				174
As a % of criticized loans			111				110				139
Net (charge-offs) recoveries		$	(337	)		$	(115	)		$	4
Net (charge-offs) recoveries (5) to average gross loans			(0.06	)%			(0.02	)%			0.00	%

(1)		Excludes loans held-for-sale.
(2)		Excludes the guaranteed portion of loans that are in liquidation totaling $13.9 million, $14.3 million and $3.5 million as of June 30, 2025, March 31, 2025 and June 30, 2024, respectively.
(3)		Excludes the guaranteed portion of loans that are in liquidation totaling $17.1 million, $17.2 million and $3.5 million as of June 30, 2025, March 31, 2025 and June 30, 2024, respectively.
(4)		Consists of substandard, doubtful and loss categories.
(5)		Annualized.

($ in thousands)		2Q2025			1Q2025			2Q2024
Accruing delinquent loans 30-89 days past due by loan type:
CRE loans		$	—		$	—		$	—
SBA loans			4,509			2,483			1,303
C&I loans			—			—			—
Home mortgage loans			298			3,969			2,471
Total 30-59 days			4,807			6,452			3,774
CRE loans			—			—			—
SBA loans			1,883			—			—
C&I loans			—			—			—
Home mortgage loans			3,114			—			2,878
Total 60-89 days			4,997			—			2,878
CRE loans			—			—			—
SBA loans			6,392			2,483			1,303
C&I loans			—			—			—
Home mortgage loans			3,412			3,969			5,349
Total accruing delinquent loans 30-89 days past due		$	9,804		$	6,452		$	6,652
Nonaccrual loans (1) by loan type:
CRE loans		$	1,802		$	1,937		$	—
SBA loans			5,696			6,371			3,757
C&I loans			—			—			421
Home mortgage loans			1,418			2,104			211
Total nonaccrual loans		$	8,916		$	10,412		$	4,389
Criticized loans(2) by loan type:
CRE loans		$	8,816		$	8,988		$	5,896
SBA loans			12,949			11,574			9,771
C&I loans			575			389			550
Home mortgage loans			1,418			2,104			211
Total criticized loans		$	23,758		$	23,055		$	16,428

(1)		Excludes the guaranteed portion of loans that were in liquidation totaling $13.9 million, $14.3 million and $3.5 million as of June 30, 2025, March 31, 2025 and June 30, 2024, respectively.
(2)		Excludes the guaranteed portion of loans that were in liquidation totaling $17.1 million, $17.2 million and $3.5 million as of June 30, 2025, March 31, 2025 and June 30, 2024, respectively.

AVERAGE BALANCE SHEET, INTEREST AND YIELD/RATE ANALYSIS
		For the Three Months Ended
		2Q2025									1Q2025									2Q2024
($ in thousands)		Average Balance			Interest Income/Expense			Average Yield/Rate(1)			Average Balance			Interest Income/Expense			Average Yield/Rate(1)			Average Balance			Interest Income/Expense			Average Yield/Rate(1)
Interest-earning assets:
Interest-bearing deposits in other banks		$	147,874		$	1,648		4.41	%		$	124,069		$	1,372		4.42	%		$	135,984		$	1,847		5.37	%
Other investments			16,961			317		7.47				16,469			302		7.33				16,307			315		7.72
Available-for-sale debt securities, at fair value			180,193			1,437		3.19				184,649			1,496		3.24				195,512			1,590		3.25
CRE loans			1,028,961			16,013		6.24				1,000,426			14,980		6.07				910,116			13,742		6.07
SBA loans			283,130			6,618		9.38				265,953			6,207		9.47				256,987			7,116		11.14
C&I loans			195,547			3,667		7.52				212,106			3,778		7.22				173,100			3,367		7.82
Home mortgage loans			587,454			7,962		5.42				526,326			6,718		5.11				501,862			6,348		5.06
Consumer loans			76			3		15.86				233			6		9.75				1,219			32		10.44
Total loans (2)			2,095,168			34,263		6.56				2,005,044			31,689		6.39				1,843,284			30,605		6.67
Total interest-earning assets			2,440,196			37,665		6.18				2,330,231			34,859		6.04				2,191,087			34,357		6.29
Noninterest-earning assets			83,394									77,823									89,446
Total assets		$	2,523,590								$	2,408,054								$	2,280,533
Interest-bearing liabilities:
Money market deposits and others		$	408,667		$	3,586		3.52	%		$	353,804		$	3,085		3.54	%		$	338,554		$	3,494		4.15	%
Time deposits			1,267,363			13,889		4.40				1,208,032			13,523		4.54				1,102,587			13,849		5.05
Total interest-bearing deposits			1,676,030			17,475		4.18				1,561,836			16,608		4.31				1,441,141			17,343		4.84
Borrowings			46,707			469		4.04				78,944			833		4.28				77,314			820		4.27
Total interest-bearing liabilities			1,722,737			17,944		4.18				1,640,780			17,441		4.31				1,518,455			18,163		4.81
Noninterest-bearing liabilities:
Noninterest-bearing deposits			547,545									522,054									529,179
Other noninterest-bearing liabilities			41,624									38,014									39,301
Total noninterest-bearing liabilities			589,169									560,068									568,480
Shareholders’ equity			211,684									207,206									193,598
Total liabilities and shareholders’ equity		$	2,523,590									2,408,054									2,280,533
Net interest income / interest rate spreads					$	19,721		2.00	%					$	17,418		1.73	%					$	16,194		1.48	%
Net interest margin								3.23	%								3.01	%								2.96	%
Cost of deposits & cost of funds:
Total deposits / cost of deposits		$	2,223,575		$	17,475		3.15	%		$	2,083,890		$	16,608		3.23	%		$	1,970,320		$	17,343		3.54	%
Total funding liabilities / cost of funds			2,270,282			17,944		3.17				2,162,834			17,441		3.27				2,047,634			18,163		3.57

(1)		Annualized.
(2)		Includes loans held-for-sale.

		For the Six Months Ended
		2Q2025									2Q2024
($ in thousands)		Average Balance			Interest Income/Expense			Average Yield/Rate(1)			Average Balance			Interest Income/Expense			Average Yield/Rate(1)
Interest-earning assets:
Interest-bearing deposits in other banks		$	136,038		$	3,020		4.41	%		$	104,515		$	2,836		5.37	%
Other investments			16,716			619		7.40				16,286			637		7.82
Available-for-sale debt securities, at fair value			182,409			2,933		3.22				193,448			3,050		3.15
CRE loans			1,014,772			30,993		6.16				906,290			27,471		6.10
SBA loans			274,589			12,825		9.42				257,554			14,329		11.19
C&I loans			203,781			7,445		7.37				154,018			6,037		7.88
Home mortgage loans			557,058			14,681		5.27				506,943			12,843		5.07
Consumer & other loans			154			8		11.27				1,303			67		10.26
Total loans (2)			2,050,354			65,952		6.47				1,826,108			60,747		6.68
Total interest-earning assets			2,385,517			72,524		6.11				2,140,357			67,270		6.31
Noninterest-earning assets			80,624									88,516
Total assets		$	2,466,141								$	2,228,873
Interest-bearing liabilities:
Money market deposits and others		$	381,387		$	6,671		3.53	%		$	352,970		$	7,434		4.24	%
Time deposits			1,237,862			27,412		4.47				1,028,515			25,584		5.00
Total interest-bearing deposits			1,619,249			34,083		4.24				1,381,485			33,018		4.81
Borrowings			62,736			1,302		4.19				92,998			2,079		4.50
Total interest-bearing liabilities			1,681,985			35,385		4.24				1,474,483			35,097		4.79
Noninterest-bearing liabilities:
Noninterest-bearing deposits			534,870									521,841
Other noninterest-bearing liabilities			39,829									39,253
Total noninterest-bearing liabilities			574,699									561,094
Shareholders’ equity			209,457									193,296
Total liabilities and shareholders’ equity		$	2,466,141									2,228,873
Net interest income / interest rate spreads					$	37,139		1.87	%					$	32,173		1.52	%
Net interest margin								3.12	%								3.01	%
Cost of deposits & cost of funds:
Total deposits / cost of deposits		$	2,154,119		$	34,083		3.19	%			1,903,326		$	33,018		3.49	%
Total funding liabilities / cost of funds			2,216,855			35,385		3.22				1,996,324			35,097		3.54

(1)		Annualized.
(2)		Includes loans held-for-sale.

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20250724843323/en/

Investor Relations

OP Bancorp

Jaehyun Park

EVP & CFO

213.593.4865

jaehyun.park@myopenbank.com

Source: OP Bancorp