OP Bancorp (OQ:OPBK)

Sector:  Financials Industry:  Banks
 
See Regulatory Filings on SEC
Company Contact
Address: 1000 Wilshire Blvd Ste 500
LOS ANGELES CA 90017-2462
Tel: 1-213-8921192
Website: N/A
IR: N/A
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Key People
Min J. Kim
President, Chief Executive Officer, Director of the Company and the Bank 		Christine Yoon Oh
Chief Financial Officer, Executive Vice President of the Company and the Bank 		Jae H. Park
Executive Vice President and Chief Risk Officer of the Bank
Ihnsuk J. Bang
Executive Vice President and Chief Banking Officer of the Bank 		Sang K. Oh
Executive Vice President and Chief Credit Officer of the Company and the Bank 		Ryan Shin
Executive Vice President and Chief SBA Officer of the Bank
Ki Won Yoon
Executive Vice President and Chief Lending Officer of the Bank 		   
Business Overview
OP Bancorp is the holding company for Open Bank (the Bank). The Bank is engaged in commercial banking business in Los Angeles, Orange, and Santa Clara Counties in California, the Dallas metropolitan area in Texas, and Clark County in Nevada. The Bank is focused on serving the banking needs of small- and medium-sized businesses, professionals, and residents with a particular emphasis on Korean and other ethnic minority communities. The Bank's lending activities are diversified and include commercial real estate, commercial and industrial, small business administration (SBA), home mortgage, and consumer loans. The Bank attracts retail deposits through its branch network which offers a range of deposit products for business and consumer banking customers. The Bank operates about 11 full-service branch offices in Downtown Los Angeles, Los Angeles Fashion District, Los Angeles Koreatown, Cerritos, Gardena, Buena Park, and Santa Clara, California, Carrollton, Texas and Las Vegas, Nevada.
Financial Overview
For the fiscal year ended 31 December 2023, OP Bancorp interest income increased 38% to $121.7M. Net interest income after loan loss provision decreased 9% to $67M. Net income applicable to common stockholders decreased 28% to $23.4M. Net interest income after loan loss provision reflects Net Interest Margin - Total - % decrease of 25% to 3.12%, Net Interest Spread - Total - % decrease of 56% to 1.57%.
Employees: 222 as of Dec 31, 2023
Reporting Currency: U.S. Dollars
Enterprise value: $49.22M as of Dec 31, 2023
Annual revenue (TTM): $121.67M as of Dec 31, 2023
EBITDA (TTM): $38.41M as of Dec 31, 2023
Net annual income (TTM): $23.44M as of Dec 31, 2023
Free cash flow (TTM): $58.39M as of Dec 31, 2023
Net Debt Last Fiscal Year: N/A
Shares outstanding: 14,956,399 as of Mar 22, 2024
TTM: Trailing Twelve Months
EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization

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