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OP Bancorp Reports Second Quarter 2026 Net Income of $8.0 Million, Diluted EPS of $0.53
LOS ANGELES, July 23, 2026--OP Bancorp (the "Company") (NASDAQ: OPBK), parent company of Open Bank, today reported:
About this update from Op Bancorp
compared with first quarter 2026 net income of $7.2 million, diluted EPS of $0.48, and second quarter 2025 net income of $6.3 million, diluted EPS of $0.42 Revenue growth; reversal of provision for credit losses; improved operating efficiency LOS ANGELES, July 23, 2026--(BUSINESS WIRE)--OP Bancorp (the "Company") (NASDAQ: OPBK), parent company of Open Bank, today reported: Sang K. Oh, President and Chief Executive Officer: "We delivered another quarter of strong financial performance, highlighted by net income of $8.0 million and diluted EPS of $0.53. Our results were driven by continued revenue growth, a reversal of provision for credit losses reflecting the strength of our credit portfolio, and ongoing improvements in operating efficiency. We also maintained solid balance sheet growth, with increases in both loans and deposits, while preserving strong asset quality and capital levels. As we enter the second half of 2026, we remain committed to driving sustainable growth while maintaining disciplined risk management and operating efficiency," said Sang K. Oh, President and Chief Executive Officer. INCOME STATEMENT HIGHLIGHTS Net Interest Income and Net Interest Margin Second Quarter 2026 vs. First Quarter 2026 Net interest income declined by $455 thousand, or 2%, primarily reflecting a one-time interest accrual adjustment related to the Federal Reserve Bank account and the absence of a special FHLB dividend recognized in the prior period. These decreases were partially offset by continued loan growth. As a result, the net interest margin contracted by 11 basis points to 3.08%. Second Quarter 2026 vs. Second Quarter 2025 Net interest income increased by $347 thousand, or 2%, primarily driven by balance-sheet growth and lower deposit rates. These favorable factors were partially offset by lower loan yields, reduced interest income on interest-bearing deposits in other banks resulting from the aforementioned Federal Reserve Bank interest accrual adjustment and lower interest rates, and higher interest expense associated with the subordinated note issued in November 2025. As a result, the net interest margin declined by 15 basis points to 3.08%. Provision for Credit Losses