Welcome to our dedicated page for OP Bancorp news (Ticker: OPBK), a resource for investors and traders seeking the latest updates and insights on OP Bancorp stock.
OP Bancorp (OPBK) delivers relationship-focused banking services to diverse communities across California, Texas, and Nevada. This news hub provides investors and stakeholders with essential updates on the bank's operations, strategic initiatives, and community impact.
Access timely press releases and financial updates including quarterly earnings, leadership changes, and partnership announcements. Our curated collection helps users track OPBK's performance in key areas like small business lending, community development programs, and regional market expansion.
Discover updates on the bank's faith-based initiatives, customer service enhancements, and regulatory compliance milestones. Content is organized to highlight both financial developments and community-oriented activities that reflect OP Bancorp's dual commitment to commercial success and social responsibility.
Bookmark this page for streamlined access to OPBK's evolving story. Check regularly for new insights into one of the West Coast's most community-engaged regional banks, where financial services meet localized relationship building.
OP Bancorp (NASDAQ: OPBK) reported its financial results for the second quarter of 2024.
Key highlights include:
- Net income of $5.4 million, a 4.0% increase from $5.2 million in Q1 2024.
- Diluted EPS of $0.36, a 5.9% rise from $0.34 in Q1 2024.
- Net interest income of $16.2 million, up from $16.0 million in Q1 2024.
- Total assets grew by 2.5% to $2.29 billion.
- Gross loans increased by 3.6% to $1.87 billion.
- Total deposits rose by 2.4% to $1.94 billion.
- The net interest margin dropped slightly to 2.96%, down from 3.06%.
Key credit metrics showed stability with allowance for credit losses to gross loans at 1.22%. However, loans past due 30-89 days increased to 0.36% of gross loans. The company remains well-capitalized with a CET1 ratio of 12.01%.
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