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OP Bancorp Reports Strong Q1 2025 Earnings

OP Bancorp Reports Strong Q1 2025 Earnings

Op Bancorp ( (OPBK) ) has released its Q1 earnings. Here is a breakdown of the information Op Bancorp presented to its investors.

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OP Bancorp, the holding company for Open Bank, operates in the commercial banking sector with a focus on serving small- and medium-sized businesses, particularly in Korean and other ethnic minority communities across California, Texas, and Nevada. In the first quarter of 2025, OP Bancorp reported a net income of $5.6 million, marking an increase from the previous quarter’s $5.0 million. The diluted earnings per share rose to $0.37 from $0.33, reflecting a strong financial performance. The company’s net interest income increased to $17.4 million, driven by a rise in gross loans and total deposits, which grew by 4.4% and 8.0%, respectively. The net interest margin also improved slightly to 3.01%. Despite an increase in nonperforming loans, the provision for credit losses decreased significantly, indicating improved credit quality. OP Bancorp remains well-capitalized with a Common Equity Tier 1 ratio of 11.08% and continues to pay a quarterly cash dividend of $0.12 per share. Looking ahead, the company is optimistic about its growth prospects, despite uncertainties in the economic environment and interest rate fluctuations, and plans to continue executing its strategic goals.

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