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) has declared a quarterly cash dividend of
OP Bancorp (NASDAQ: OPBK) reported a robust net income of $9.1 million for Q4 2021, representing a 140% increase from Q4 2020. Diluted earnings per share reached $0.59, up 136% year-over-year. Key metrics include a 40% rise in net interest income to $17.1 million and 115% growth in noninterest income to $7.3 million. Total assets increased by 26% to $1.73 billion, while total loans grew 25% to $1.40 billion. The quarterly cash dividend was raised by 43% to $0.10 per share.
OP Bancorp (NASDAQ: OPBK) reported strong financial results for Q3 2021, with net income of $8.3 million, a 129% increase year-over-year. Diluted earnings per share rose to $0.54, and net interest income increased by 45% to $16.6 million. Total assets reached $1.68 billion, a 25% growth, while total deposits grew by 28% to $1.50 billion. The noninterest margin improved to 4.21%, up from 3.66% in Q3 2020. Despite an increase in nonperforming loans, the company maintained a solid capital position with a CET1 ratio of 12.63%.
OP Bancorp (NASDAQ: OPBK) reported a robust second quarter for 2021 with a net income of $6.4 million, translating to $0.42 per diluted share, marking a 164% increase from Q2 2020. The strong performance is attributed to the acquisition of Hana's loan portfolio and record deposit levels. Net interest income rose to $14.6 million, a 37% year-over-year increase. The company declared a quarterly cash dividend of $0.10 per share, up 43% from the previous quarter. Total loans increased by 24.9% to $1.31 billion, while total deposits reached $1.43 billion, reflecting an 11.6% quarter-over-quarter growth.
OP Bancorp (NASDAQ: OPBK) has declared a quarterly cash dividend of $0.07 per share, payable on May 20, 2021, to shareholders of record by May 6, 2021. The bank operates in California and Texas, focusing on small- and medium-sized businesses, particularly within Korean and ethnic minority communities. With a commitment to serving local markets, OP Bancorp aims to support its clientele through nine branches and four loan production offices across several states.
OP Bancorp (NASDAQ: OPBK) reported strong unaudited financial results for Q1 2021, with net income rising to $5.1 million ($0.33 per share) from $3.8 million in Q4 2020. The bank originated 1,336 SBA PPP loans totaling $74.2 million and processed $22.9 million in loan forgiveness. Total assets grew to $1.46 billion, a 6.5% increase from Q4 2020. Noninterest income was $3.0 million, reflecting a 12.6% decrease from the previous quarter. The bank anticipates closing the purchase of an SBA loan portfolio soon, indicating positive growth prospects.
OP Bancorp (NASDAQ: OPBK) has signed an asset purchase agreement to acquire the SBA portfolio of Hana Small Business Lending, a subsidiary of Hana Financial. The acquisition involves approximately $105 million in outstanding loans, primarily SBA 7(a) loans, and a servicing portfolio valued at about $295 million. The estimated purchase price is around $102 million. The transaction is expected to close within 90 days, pending customary approvals. CEO Min Kim noted that this acquisition will enhance the company's already successful SBA loan portfolio, improving its interest and servicing income streams.
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.
OP Bancorp (NASDAQ: OPBK) reported a net income of $3.9 million for Q4 2020, up from $3.6 million in Q3 2020, but down from $4.2 million in Q4 2019. The company’s interest income totaled $13.4 million, while net interest income increased to $12.2 million, with a net interest margin of 3.73%. However, a provision for loan losses rose to $1.8 million amid economic challenges. Total assets increased to $1.37 billion, with loans growing by 2.5% from Q3 2020. Nonperforming loans rose to $985,000, highlighting credit concerns, despite strong deposit growth of 17.6% year-over-year.
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