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 reports news as the holding company for Open Bank, a commercial bank serving small- and medium-sized businesses, professionals, and local residents with a focus on Korean and other Asian communities. Company updates commonly cover quarterly earnings, net interest income, net interest margin, loan balances, provision for credit losses, noninterest expense, efficiency ratio, and credit quality across its banking markets in California, Texas, and Nevada.
Recurring corporate news also includes common-stock dividends, share repurchase authorization, and bank capital actions such as subordinated debt issuance. These announcements connect OPBK’s operating results with balance-sheet growth, capital management, and shareholder-return decisions.
OP Bancorp (NASDAQ: OPBK) has declared a quarterly cash dividend of $0.10 per share, payable on February 10, 2022. Shareholders of record by the close of business on February 24, 2022 will receive the dividend. OP Bancorp is the parent company of Open Bank, focused on small- and medium-sized businesses and ethnic minority communities in California and Texas.
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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.