Op Bancorp · NASDAQ:OPBK
Op Bancorp — Q2 2021 Earnings Presentation
17 slides from Op Bancorp's earnings presentation, Jul 23, 2021
Slide 1: 2021 Second Quarter Earnings Presentation
2021 Second Quarter Earnings Presentation July 22, 2021 Exhibit 99.2
Slide 2: Forward-looking statements
Certain matters set forth herein constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including forward-looking statements relating to the Company’s current business plans and expectations regarding future operating results. These forwar
Slide 3: 2Q-2021 Highlights vs 2Q-2020
2Q-2021 Highlights vs 2Q-2020 3 Balance Sheet Earnings & Profitability Credit Quality Net income of $6.4 million, up $4.0 million, or 164% Diluted earnings per share of $0.42, up $0.26, or 163% Net interest margin of 3.98%, up from 3.55% Reversal of provision for loan losses of $1.1 million, a $3.1
Slide 4: COVID-19 Loan Modifications
COVID-19 Loan Modifications 4
Slide 5: COVID-19 Loan Modification Trend
COVID-19 Loan Modification Trend 5
Slide 6: COVID-19 Loan Modification Type & Duration
COVID-19 Loan Modification Type & Duration 6 Modification Type Modification Type & Duration Note: Percentages are based on loan amounts as of June 30, 2021. Modification Duration
Slide 7: COVID-19 Loan Modification – Hotel & Motel CRE
COVID-19 Loan Modification – Hotel & Motel CRE 7 Geographic Location Modification Type & Duration Note: Percentages are based on loan amounts as of June 30, 2021. Average Information Average Loan Size: $4.0 million Weighted Average LTV: 61.3% Weighted Average DCR: 1.15
Slide 8: Balance Sheet Trend
Balance Sheet Trend 8 Gross Loans ($mm) Total Assets ($mm) Total Equity ($mm) & Book Value Per Share ($) Total Deposits ($mm)
Slide 9: Loan Trend
Loan Trend 9 Loan Origination ($mm) Loan Composition ($mm) Loan Yields (%) Commercial Real Estate Concentration (%)
Slide 10: Deposit Trend
Deposit Trend 10 Noninterest Bearing Deposits ($mm) Deposit Composition ($mm) Cost of Deposits (%) CD Maturity Schedule ($mm)
Slide 11: Earnings & Profitability
Earnings & Profitability 11 Noninterest Income ($mm) Net Interest Income ($mm) & Net Interest Margin (%) Noninterest Expense ($mm) Efficiency Ratio (%)
Slide 12: Earnings & Profitability
Earnings & Profitability 12 Pre-Provision Net Revenue ($mm) Provision for Loan Losses ($mm) Net Income ($mm) & Diluted EPS ($) Return on Assets & Return on Equity (%)
Slide 13: Net Interest Margin Trend
Source: Target Fed Funds Rate per Federal Open Market Committee guidance. Net Interest Margin Trend 13
Slide 14: Asset Quality
Asset Quality 14 Classified Loans ($mm) Nonperforming Loans ($mm) Net Charge-Offs ($mm) Allowance for Loan Losses ($mm)
Slide 15: Liquidity & Capital
Liquidity & Capital 15 Total Liquidity ($mm) On Balance Sheet Liquidity ($mm) Tier 1 Leverage ($mm) Total Risk Based Capital ($mm)
Slide 16: Non-GAAP Reconciliation: Pre-Provision Net Revenue
Non-GAAP Reconciliation Pre-Provision Net Revenue openbank This non. Forthe Three Months Ended (Sin thousands) E (@) 3 so $75 $7 § 6ASB§ 5,376 Provision for loan losses iO) (a2) 620 4 4398 1,988 Provision for income taxes c} 25 2.058 3513 fe on Net income (arieye() $637 $5077 -$ —3.8B S585 $6
Slide 17: Non-GAAP Reconciliation: Adjusted Allowance to Gross Loans Ratio
SSS openbank Non-GAAP Reconciliation Adjusted Allowance to Gross Loans Ratio, Forthe three Months Ended {Sinthousands) 2a 20 Grosstoans a eae a Lass: Purchased loans (ss) - PPP loans! rea Lats) (ate) _(n)_.) ‘Adjusted gross loans (a) S 2oss.5 —§ nowszn 380.082 ‘Accrued interest receivable on loans L