November 19, 2017 1:11 PM ET

Banks

Company Overview of OP Bancorp

Company Overview

OP Bancorp operates as the bank holding company for Open Bank that provides banking products and services in California. It generates certificates of deposit, installment accounts, money market accounts, retirement accounts, demand and time deposits, and savings accounts, as well as various personal and business checking accounts. The company also provides commercial lending products, including business line of credit, business term loans, and commercial real estate term loans; trade financing products and services comprising issuance of letters of credit, import and export financing, revolving lines of credit, clean and documentary collections, and others; small and medium sized business ad...

1000 Wilshire Boulevard

Suite 500

Los Angeles, CA 90017

United States

Founded in 2005

131.5 Employees

Phone:

213-892-9999

Fax:

213-892-1199

Key Executives for OP Bancorp

OP Bancorp does not have any Key Executives recorded.

OP Bancorp Key Developments

OP Bancorp Reports Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2017; Reports Net Charge-Offs for the Third Quarter Ended September 30, 2017

OP Bancorp reported unaudited earnings results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported interest income of $10,419,000 against $8,254,000 a year ago. Net interest income was $9,208,000 against $7,421,000 a year ago. Income before income taxes was $4,441,000 against $3,443,000 a year ago. Net income was $2,728,000 against $2,052,000 a year ago. Diluted EPS was $0.19 against $0.15 a year ago. Return on average assets was 1.31% against 1.18% a year ago. Return on average equity was $12.35% against 10.51% a year ago. Net interest income before loan loss provision was $9.2 million an increase of 24.1% from $7.4 million for the third quarter of 2016. The increases from the third quarter of 2016 were the results of continued growth in interest earning assets, mostly loans, and improvements in net interest margin. For the nine months, the company reported interest income of $29,205,000 against $22,935,000 a year ago. Net interest income was $26,008,000 against $20,451,000 a year ago. Income before income taxes was $12,042,000 against $8,659,000 a year ago. Net income was $7,337,000 against $5,172,000 a year ago. Diluted EPS was $0.52 against $0.37 a year ago. Return on average assets was 1.22% against 1.04% a year ago. Return on average equity was 11.45% against 9.13% a year ago. For the quarter, the company reported net charge-offs of $75,000.

OP Bancorp Reports Un-Audited Earnings Results for the Second Quarter and Six Months Ended June 30, 2017; Reports Net Charge Off for the Second Quarter of 2017

OP Bancorp reported un-audited earnings results for the second quarter and six months ended June 30, 2017. For the quarter, the company reported net income of $2.46 million, or $0.18 per diluted common share. This compares with net income of $2.15 million, or $0.15 per diluted share, for the first quarter of 2017, and net income of $1.80 million, or $0.13 per diluted share, for the second quarter of 2016. Pre-tax pre-provision income was $4.3 million for the second quarter 2017, compared to $4.1 million for the first quarter 2017, and $3.5 million for the second quarter 2016. Net interest income before loan loss provision was $8.6 million, an increase of 4.7% from $8.2 million for the first quarter of 2017, and an increase of 26.2% from $6.8 million for the second quarter of 2016. The increases from the first quarter of 2017 and the second quarter of 2016 were the results of continued growth in interest earning assets, mostly loans, and improvements in net interest margin. The company reported interest income of $9.6 million compared to $7.6 million, income before income taxes of $4.1 million compared to $3.0 million, return on average assets of 1.24% compared to 1.08% and return on average equity of 11.55% compared to 9.58% for the last year. Book value per share was $6.65 compared to $6.00 for the same period last year. For the six months, the company reported net income of $4.6 million, or $0.33 per diluted common share compared to $3.1 million, or $0.22 per diluted share, net interest income before loan loss provision was $16.8 million compared to $13.0 million, interest income of $18.8 million compared to $14.7 million, income before income taxes of $7.6 million compared to $5.2 million, return on average assets of 1.17% compared to 0.96% and return on average equity of 10.98% compared to 8.40% for the last year. The company reported net charge off of $6,000 for the second quarter of 2017.

OP Bancorp Presents at KBW Community Bank Investor Conference, Aug-01-2017

OP Bancorp Presents at KBW Community Bank Investor Conference, Aug-01-2017 . Venue: Hilton Midtown, New York, New York, United States. Speakers: Christine Y. Oh, Chief Financial Officer and Executive Vice President, Min Jung Kim, Chief Executive Officer, President and Director.

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Recent Private Companies Transactions

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