OPバンコープの適時開示・決算・その他

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________________________

FORM 8-K

____________________________________

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): October 23, 2025

____________________________________

OP BANCORP

(Exact name of registrant as specified in its charter)

____________________________________


California	001-38437	81-3114676
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

1000 Wilshire Blvd, Suite 500, Los Angeles, CA		90017
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (213) 892-9999

Not Applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (See General Instruction A.2 below):


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, No Par Value

OPBK

NASDAQ Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐

Item 2.02 Results of Operations and Financial Condition

On October 23, 2025, OP Bancorp, (the “Company”), the holding company of Open Bank, issued its press release announcing preliminary unaudited financial results for the third quarter ended September 30, 2025. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference in this Item 2.02.

The information in this Current Report set forth under this Item 2.02, including exhibit 99.1 hereto, shall not be treated as “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), nor shall it be deemed incorporated by reference into any registration statement or other filing pursuant to the Securities Act of 1933, as amended (the “Securities Act”), or the Exchange Act, except as expressly stated by specific reference in such filing.

Item 7.01 Regulation FD

On October 23, 2025, the registrant disclosed a presentation containing certain summary financial information that may be used in discussions with investors and analysts. That presentation is furnished herewith as Exhibit 99.3. The presentation shall not be treated as “filed” for purposes of Section 18 of the Exchange Act, nor shall it be deemed incorporated by reference into any registration statement or other filing pursuant to the Exchange Act or the Securities Act, except as expressly set forth in any such filing.

Item 8.01. Other Events

On October 23, 2025, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.12 per share on its common stock, payable on November 20, 2025, to shareholders of record as of November 6, 2025. The Company issued a press release describing the dividend on October 23, 2025, which is attached hereto as Exhibit 99.2 and incorporated herein by reference.

The information set forth in this Item 8.01, including the information in the accompanying press release, shall not be treated as “filed” for purposes of Section 18 of the Exchange Act, nor shall it be deemed incorporated by reference into any registration statement or other filing pursuant to the Exchange Act or the Securities Act, except as expressly set forth in any such filing.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.


Exhibit Number						Exhibit Description
99.1						Press Release, dated October 23, 2025 - Third Quarter 2025 Results

99.2						Press Release, dated October 23, 2025 - Dividend Declaration

99.3						Earnings Presentation - Third Quarter 2025 Results

104						Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


	OP Bancorp

Date: October 23, 2025	By:	/s/ Jaehyun Park
		Jaehyun Park
		Executive Vice President and
		Chief Financial Officer

EX-99.1 2 opbk8-kerx2025xq3xex991.htm EX-99.1 Document


			News Release

OP Bancorp Reports Third Quarter 2025 Net Income of $6.7 Million, Diluted EPS of $0.45
compared with second quarter 2025 net income of $6.3 million, diluted EPS of $0.42,
and third quarter 2024 net income of $5.4 million, diluted EPS of $0.36
Higher revenue and net income; improved efficiency ratio; stable credit quality

Los Angeles, CA (October 23, 2025) — OP Bancorp (the “Company”) (NASDAQ: OPBK), parent company of Open Bank, today reported:



($ in thousands, except per share data)	As of and For the Quarter									Third Quarter Highlights
	3Q2025			2Q2025			3Q2024			Comparisons reflect 3Q25 vs. 2Q25
Income Statement:										Income Statement
Net interest income	$	20,346		$	19,721		$	16,506		•Net interest income increased 3% and net interest margin expanded 3 bps to 3.26%. •Noninterest income increased 4%. •Revenue increased 3%. •Noninterest expense decreased 3% and efficiency ratio improved to 55.68%. •Net income increased 6%. •Diluted EPS increased 7% to $0.45.
Noninterest income	4,130			3,968			4,240
Revenue	24,476			23,689			20,746
Provision for credit losses	1,175			1,206			448
Noninterest expense	13,629			14,037			12,720
Net income	$	6,703		$	6,333		$	5,436
Diluted Earnings Per Share (“EPS”)	$	0.45		$	0.42		$	0.36
Net interest margin (1)	3.26		%	3.23		%	2.95		%
Efficiency ratio (2)	55.68			59.25			61.31
Balance Sheet:										Balance Sheet
Average loans (3)	$	2,132,225		$	2,095,168		$	1,905,952		•Average loans increased 2%. •Average deposits remained relatively unchanged.
Average deposits	2,229,591			2,223,575			1,998,633
Credit Quality:										Credit Quality
Net charge-offs (1) to average gross loans	0.04		%	0.06		%	0.01		%	•Net loan charge-offs stayed at a low level. •Allowance for credit losses to gross loans remained stable.
Allowance for credit losses on loans to gross loans	1.27			1.27			1.19
Selected Ratios:										Performance and Capital
Return on average assets ("ROA") (1)	1.04		%	1.00		%	0.94		%	•ROA and ROE improved, reflecting enhanced profitability and efficient use of assets and equity.
Return on average equity ("ROE") (1)	12.36			11.97			10.95
Common equity tier 1 capital (“CET1”)	10.92			11.01			11.57			•CET1 remained strong.

(1)Annualized.

(2)Represents noninterest expense divided by the sum of net interest income and noninterest income.

(3)Includes loans held-for-sale.

Sang K. Oh, President and Chief Executive Officer:

“We delivered another solid quarter of performance, highlighted by a 6% increase in net income supported by a 3% rise in revenue and a 3% decrease in noninterest expense compared to prior quarter. Our net interest margin expanded by 3 basis points to 3.26%, and our efficiency ratio improved to 55.68%, reflecting our continued focus on profitability and operational discipline. Credit quality remained stable, with low net charge-offs and a steady allowance for credit losses, demonstrating the strength of our portfolio and prudent risk management. As we look ahead, we remain focused on driving sustainable growth and maintaining sound financial management,” said Sang K. Oh, President and Chief Executive Officer.”

INCOME STATEMENT HIGHLIGHTS

Net Interest Income and Net Interest Margin



($ in thousands)	For the Three Months Ended						% Change 3Q2025 vs.
	3Q2025		2Q2025		3Q2024		2Q2025		3Q2024
Interest Income
Interest income	$	38,522	$	37,665	$	35,299	2	%	9	%
Interest expense	18,176		17,944		18,793		1		(3)
Net interest income	$	20,346	$	19,721	$	16,506	3	%	23	%



($ in thousands)	For the Three Months Ended												Average Yield/Rate Change 3Q2025 vs.
	3Q2025				2Q2025				3Q2024
	Interest Income/Expense		Average Yield/Rate(1)		Interest Income/Expense		Average Yield/Rate(1)		Interest Income/Expense		Average Yield/Rate(1)		2Q2025	3Q2024
Interest-earning Assets:
Loans	$	35,001	6.52	%	$	34,263	6.56	%	$	31,885	6.66	%	(4) bps	(14) bps
Total interest-earning assets	38,522		6.16		37,665		6.18		35,299		6.30		(2) bps	(14) bps
Interest-bearing Liabilities:
Interest-bearing deposits	17,442		4.07		17,475		4.18		17,921		4.85		(11) bps	(78) bps
Total interest-bearing liabilities	18,176		4.06		17,944		4.18		18,793		4.82		(12) bps	(76) bps
Ratios:
Net interest income / interest rate spreads	20,346		2.10		19,721		2.00		16,506		1.48		10 bps	62 bps
Net interest margin			3.26				3.23				2.95		3 bps	31 bps
Total deposits / cost of deposits	17,442		3.10		17,475		3.15		17,921		3.57		(5) bps	(47) bps
Total funding liabilities / cost of funds	18,176		3.13		17,944		3.17		18,793		3.60		(4) bps	(47) bps

(1)Annualized.



($ in thousands)	For the Three Months Ended												Average Yield Change 3Q2025 vs.
	3Q2025				2Q2025				3Q2024
	Interest Income		Average Yield(1)		Interest Income		Average Yield(1)		Interest Income		Average Yield(1)		2Q2025	3Q2024
Loan Yield Component:
Contractual interest rate	$	34,312	6.40	%	$	33,437	6.40	%	$	31,182	6.52	%	— bps	(12) bps
Accretion of SBA loan discount(2)	972		0.18		785		0.15		918		0.19		3 bps	(1) bps
Amortization of net deferred fees	70		0.01		(60)		(0.01)		23		0.00		2 bps	1 bps
Amortization of premium	(321)		(0.06)		(329)		(0.06)		(487)		(0.10)		— bps	4 bps
Amortization of premium - Home mortgage payoffs	(35)		(0.01)		(63)		(0.01)		—		—		— bps	(1) bps
Net interest recognized on nonaccrual loans	(224)		(0.04)		162		0.03		(61)		(0.01)		(7) bps	(3) bps
Prepayment penalty income and other fees(3)	227		0.04		331		0.06		310		0.06		(2) bps	(2) bps
Yield on loans	$	35,001	6.52	%	$	34,263	6.56	%	$	31,885	6.66	%	(4) bps	(14) bps

(1)Annualized.

(2)Includes discount accretion from SBA loan payoffs of $499 thousand, $293 thousand and $426 thousand for the three months ended September 30, 2025, June 30, 2025 and September 30, 2024, respectively.

(3)Includes prepayment penalty income of $127 thousand, $166 thousand and $114 thousand for the three months ended September 30, 2025, June 30, 2025 and September 30, 2024, respectively, from Commercial Real Estate (“CRE”) and SBA loans.

Third Quarter 2025 vs. Second Quarter 2025

Net interest income increased by $625 thousand, or 3%, primarily driven by loan growth, partially offset by higher borrowings and lower loan yields. Net interest margin expanded by 3 basis points to 3.26%.

◦Loans: Interest income increased by $738 thousand, largely attributable to a $37.1 million increase in average loan balances. This increase was partially offset by a 4 basis point decline in loan yields, reflecting increased interest income reversals due to changes in nonaccrual status compared to the prior quarter.

◦Borrowings: Interest expense increased by $265 thousand, mainly due to a $29.5 million increase in average balances of Federal Home Loan Bank (“FHLB”) advances.

◦Deposits: Interest expense decreased slightly by $33 thousand, primarily due to an 11 basis point reduction in interest-bearing deposit costs, reflecting the repricing of time deposits in response to the downward shift in federal funds rate that began in the late 2024. The decrease was nearly offset by a $24.6 million increase in average interest-bearing deposit balances.

Third Quarter 2025 vs. Third Quarter 2024

Net interest income increased by $3.8 million, or 23%. The increase was due to loan growth and lower deposit rates. These changes were partially offset by interest-bearing deposit growth. Net interest margin rose 31 basis points to 3.26%.

◦Loans: Interest income increased by $3.1 million, largely driven by a $226.3 million increase in average loan balances. This increase was partially offset by a 14 basis point decline in loan yields, reflecting the repricing of existing loans at lower interest rates following the 2024 reduction in the federal funds rate.

◦Deposits: Interest expense decreased by $479 thousand, mainly driven by a 78 basis point reduction in interest-bearing deposit costs, resulting from the repricing of deposit products in response to the federal funds rate cut implemented in 2024. This decrease was partially offset by a $230.2 million increase in average interest-bearing deposit balances.

Provision for Credit Losses



($ in thousands)	For the Three Months Ended						$ Change 3Q2025 vs.
	3Q2025		2Q2025		3Q2024		2Q2025		3Q2024
Provision for credit losses on loans	$	1,206	$	1,255	$	234	$	(49)	$	972
Provision for (reversal of) credit losses on off-balance sheet exposure	(31)		(49)		214		18		(245)
Provision for credit losses	$	1,175	$	1,206	$	448	$	(31)	$	727

Third Quarter 2025 vs. Second Quarter 2025

Provision for credit losses on loans remained relatively stable, decreasing by $49 thousand. The modest decline was primarily driven by reductions in qualitative reserves, following qualitative factor adjustments made after management reassessed the underlying assumptions. These adjustments were mostly offset by the increases resulting from risk rating downgrades and net charge-offs.

Third Quarter 2025 vs. Third Quarter 2024

Provision for credit losses on loans increased by $972 thousand, primarily due to higher historical loss factors stemming from risk rating downgrades, increased specific reserves, net charge-offs, and loan growth compared to the prior period.

Noninterest Income



($ in thousands)	For the Three Months Ended						% Change 3Q2025 vs.
	3Q2025		2Q2025		3Q2024		2Q2025		3Q2024
Noninterest Income
Service charges on deposits	$	725	$	1,017	$	889	(29)	%	(18)	%
Loan servicing fees, net of amortization	724		900		693		(20)		4
Gains on sale of loans	2,037		1,441		2,088		41		(2)
Other income	644		610		570		6		13
Total noninterest income	$	4,130	$	3,968	$	4,240	4	%	(3)	%

Third Quarter 2025 vs. Second Quarter 2025

Noninterest income increased by $162 thousand, or 4%, primarily due to higher gains on sale of loans, partially offset by declines in service charges on deposits and loan servicing fees.

◦Gains on Sale of Loans: Increased by $596 thousand, primarily driven by higher SBA loan sale activity. During the quarter, the Bank sold $36.8 million in SBA loans at an average premium rate of 6.71%, compared to $25.3 million sold at an average premium rate of 7.05% in the prior period.

◦Service Charges on Deposits: Decreased by $292 thousand, primarily due to the closure of certain currency exchange-related accounts.

◦Loan Servicing Fees, Net of Amortization: Decreased by $176 thousand, mainly due to higher amortization of servicing assets, reflecting elevated payoff activity within servicing portfolio.

Third Quarter 2025 vs. Third Quarter 2024

Noninterest income decreased by $110 thousand, or 3%, primarily due to lower service charges on deposits.

◦Service Charges on Deposits: Decreased by $164 thousand, largely driven by the closure of certain currency exchange-related accounts.

Noninterest Expense



($ in thousands)	For the Three Months Ended						% Change 3Q2025 vs.
	3Q2025		2Q2025		3Q2024		2Q2025		3Q2024
Noninterest Expense
Salaries and employee benefits	$	8,892	$	9,075	$	8,031	(2)	%	11	%
Occupancy and equipment	1,676		1,584		1,676		6		—
Data processing and communication	263		306		634		(14)		(59)
Professional fees	419		418		346		0		21
FDIC insurance and regulatory assessments	428		506		391		(15)		9
Promotion and advertising	126		232		151		(46)		(17)
Directors’ fees	151		198		154		(24)		(2)
Foundation donation and other contributions	671		636		549		6		22
Other expenses	1,003		1,082		788		(7)		27
Total noninterest expense	$	13,629	$	14,037	$	12,720	(3)	%	7	%

Third Quarter 2025 vs. Second Quarter 2025

Noninterest expense decreased by $408 thousand, or 3%, primarily due to reductions in salaries and employee benefits, promotion and advertising, and other expenses.

◦Salaries and Employee Benefits: Decreased by $183 thousand, mainly due to lower incentive compensation accruals, resulting from a non-recurring adjustment recognized in the prior quarter.

◦Promotion and Advertising: Decreased by $106 thousand, reflecting the absence of a one-time accrual adjustment that was recorded in the second quarter of 2025.

◦Other Expenses: Decreased by $79 thousand, primarily due to reduced armored car service costs following the closure of certain currency exchange-related accounts.

Third Quarter 2025 vs. Third Quarter 2024

Noninterest expense increased by $909 thousand, or 7%, primarily due to higher salaries and employee benefits, and other expenses, partially offset by lower data processing and communication.

◦Salaries and Employee Benefits: Increased by $861 thousand, mainly driven by staffing growth and annual merit-based salary adjustments. Higher health insurance costs also contributed to the increase in employee benefits.

◦Other Expenses: Increased by $215 thousand, primarily due to reclassification of credit-related fees collections from contra-expense to income in 2025. This regrouping reflects a change in presentation rather than a change in underlying activity.

◦Data Processing and Communication: Decreased by $371 thousand, largely due to contractual credits received following the conversion to a new core banking system in the fourth quarter of 2024.

Income Tax Expense

Third Quarter 2025 vs. Second Quarter 2025

Income tax expense increased by $856 thousand to $3.0 million, with the effective tax rate rising to 30.7% from 25.0%. The increases were primarily driven by higher pre-tax income and a one-time revaluation of deferred tax assets, associated with the adoption of the California’s single sales factor apportionment method and the implementation of an enhanced interim state tax apportionment methodology.

Third Quarter 2025 vs. Third Quarter 2024

Income tax expense increased by $827 thousand to $3.0 million, with the effective tax rate rising to 30.7% from 28.3%. The increases were primarily attributable to the factors noted above.

BALANCE SHEET HIGHLIGHTS

Loans



($ in thousands)	As of						% Change 3Q2025 vs.
	3Q2025		2Q2025		3Q2024		2Q2025		3Q2024
CRE	$	1,092,808	$	1,021,431	$	966,472	7	%	13	%
SBA	256,211		263,424		252,379		(3)		2
C&I	214,419		193,359		212,476		11		1
Home mortgage	587,641		593,256		499,666		(1)		18
Consumer & other	138		110		14		25		886
Gross loans	$	2,151,217	$	2,071,580	$	1,931,007	4	%	11	%

The following table presents loan originations and the corresponding weighted average contractual rates for the periods indicated:



($ in thousands)	For the Three Months Ended												% Change in Amounts 3Q2025 vs.
	3Q2025				2Q2025				3Q2024				2Q2025		3Q2024
	Amount		Rate		Amount		Rate		Amount		Rate
CRE	$	98,799	6.36	%	$	39,734	7.00	%	$	64,249	7.50	%	149	%	54	%
SBA	15,051		8.72		33,811		8.64		20,167		9.75		(55)		(25)
C&I	9,984		6.96		3,136		7.72		7,861		8.18		218		27
Home mortgage	6,861		6.69		54,837		6.64		10,205		7.23		(87)		(33)
Consumer and other	—		—		—		—		—		—		—		—
Gross loans (1)	$	130,695	6.69	%	$	131,518	7.29	%	$	102,482	7.97	%	(1)	%	28	%

(1)Excludes changes in line utilization.

The following table summarizes the loan activity for the periods indicated:



($ in thousands)	For the Three Months Ended
	3Q2025		2Q2025		3Q2024

Beginning Balance	$	2,071,580	$	2,043,885	$	1,870,106
Originations	130,695		131,518		102,482
Net change in line utilization	31,167		27,287		49,695
Purchases	8,930		1,750		862
Sales	(36,806)		(25,320)		(35,576)
Payoffs & paydowns	(67,639)		(90,923)		(54,440)
Decrease (increase) in loans held-for-sale	13,536		(15,461)		(1,674)
Other	(246)		(1,156)		(448)
Total	79,637		27,695		60,901
Ending balance	$	2,151,217	$	2,071,580	$	1,931,007

The following table presents the composition of gross loans by interest rate type accompanied with the weighted average contractual rates as of the periods indicated:



($ in thousands)	As of
	3Q2025				2Q2025				3Q2024
	%		Rate		%		Rate		%		Rate
Fixed rate	31	%	5.61	%	31	%	5.54	%	36	%	5.42	%
Hybrid rate	41		5.89		40		5.81		35		5.60
Variable rate	28		8.02		29		8.16		29		8.94
Gross loans	100	%	6.40	%	100	%	6.42	%	100	%	6.52	%

The following table presents the maturity of gross loans by interest rate type accompanied with the weighted average contractual rates for the periods indicated:



($ in thousands)	As of September 30, 2025
	Within One Year				One Year Through Five Years				After Five Years				Total
	Amount		Rate		Amount		Rate		Amount		Rate		Amount		Rate
Fixed rate	$	212,026	5.66	%	$	274,741	6.02	%	$	191,661	4.98	%	$	678,428	5.61	%
Hybrid rate	—		—		209,456		4.74		664,989		6.26		874,445		5.89
Variable rate	84,705		7.60		158,959		7.49		354,680		8.36		598,344		8.02
Gross loans	$	296,731	6.21	%	$	643,156	5.97	%	$	1,211,330	6.67	%	$	2,151,217	6.40	%

Allowance for Credit Losses

The following table summarizes the activity in the allowance for credit losses for the periods presented:



($ in thousands)	As of and For the Three Months Ended						$ Change 3Q2025 vs.
	3Q2025		2Q2025		3Q2024		2Q2025		3Q2024
Allowance for credit losses on loans, beginning	$	26,286	$	25,368	$	22,760	$	918	$	3,526
Provision for credit losses on loans	1,206		1,255		234		(49)		972
Gross charge-offs	(195)		(542)		(40)		347		(155)
Gross recoveries	2		205		6		(203)		(4)
Net (charge-offs) recoveries	(193)		(337)		(34)		144		(159)
Allowance for credit losses on loans, ending	$	27,299	$	26,286	$	22,960	$	1,013	$	4,339

Allowance for credit losses on off-balance sheet exposure, beginning	$	360	$	409	$	458	$	(49)	$	(98)
Provision for (reversal of) credit losses on off-balance sheet exposure	(31)		(49)		214		18		(245)
Allowance for credit losses on off-balance sheet exposure, ending	$	329	$	360	$	672	$	(31)	$	(343)

Asset Quality



($ in thousands)	As of and For the Three Months Ended									% or Basis Point Change 3Q2025 vs.
	3Q2025			2Q2025			3Q2024			2Q2025		3Q2024
Accruing loans 30-89 days past due	$	5,386		$	9,804		$	10,306		(45)	%	(48)	%
As a % of gross loans	0.25		%	0.47		%	0.53		%	(22) bps		(28) bps

Nonperforming loans (1)	$	12,312		$	8,916		$	3,620		38	%	240	%
Nonperforming assets (1)	13,157			10,153			4,857			30		171
Nonperforming loans to gross loans	0.57		%	0.43		%	0.19		%	14 bps		38 bps
Nonperforming assets to total assets	0.50			0.40			0.20			10 bps		30 bps

Criticized loans (2)(3)	$	28,075		$	23,758		$	16,500		18.2	%	70.2	%
Criticized loans to gross loans	1.31		%	1.15		%	0.85		%	16 bps		46 bps

Allowance for credit losses ratios:
As a % of gross loans	1.27		%	1.27		%	1.19		%	— bps		8 bps
As a % of nonperforming loans	222			295			634			(73)	%	(412)	%
As a % of nonperforming assets	207			259			473			(52)		(266)
As a % of criticized loans	97			111			139			(14)		(42)
Net charge-offs (4) to average gross loans	0.04			0.06			0.01			(2) bps		3 bps

(1)Excludes the guaranteed portion of loans that were in liquidation totaling $17.6 million, $13.9 million and $11.1 million as of September 30, 2025, June 30, 2025 and September 30, 2024, respectively.

(2)Excludes the guaranteed portion of loans that were in liquidation totaling $20.8 million, $17.1 million and $11.1 million as of September 30, 2025, June 30, 2025 and September 30, 2024, respectively.

(3)Consists of special mention, substandard, doubtful and loss categories.

(4)Annualized.

Credit quality remained strong during the period, with nonperforming loans at a low 0.57% of gross loans and annualized net charge-offs at just 0.04%. The allowance remained adequate at 1.27% of gross loans.

◦Accruing loans 30-89 days past due decreased to $5.4 million, primarily due to $4.2 million in SBA and home mortgage loans returning to current status and $2.5 million in reclassified SBA loans to nonaccrual status. These reductions were partially offset by $2.8 million in new past due balances across various loan categories.

◦Nonperforming loans increased by $3.4 million, primarily attributable to the reclassification of loans previously in the accruing 30-89 days past due category.

◦Criticized loans increased by $4.3 million, primarily attributable to downgrades of SBA and home mortgage loans.

Deposits



($ in thousands)	As of												% Change 3Q2025 vs.
	3Q2025				2Q2025				3Q2024
	Amount		%		Amount		%		Amount		%		2Q2025		3Q2024
Noninterest-bearing deposits	$	543,972	24	%	$	565,683	25	%	$	561,801	27	%	(4)	%	(3)	%
Money market deposits and others	402,891		18		431,252		19		343,188		17		(7)		17
Time deposits	1,326,554		58		1,257,793		56		1,159,614		56		5		14
Total deposits	$	2,273,417	100	%	$	2,254,728	100	%	$	2,064,603	100	%	1	%	10	%

Estimated uninsured deposits	$	1,131,091	50	%	$	1,156,311	51	%	$	946,406	46	%	(2)	%	20	%

As of September 30, 2025 vs. June 30, 2025

Total deposits increased by $18.7 million or 1%, primarily driven by a $68.8 million increase in time deposits, partially offset by a $28.4 million decrease in money market deposits and others, and a $21.7 million decrease in noninterest-bearing deposits. The increase in time deposits reflects new customers opening CD accounts, existing customers reallocating funds seeking higher yields, and a rise in wholesale CD balances to support loan growth. The declines in money market and noninterest-bearing deposits were primarily attributable to reductions in existing customer balances, reflecting operational funding needs.

As of September 30, 2025 vs. September 30, 2024

Total deposits increased by $208.8 million or 10%, primarily driven by growth of $166.9 million in time deposits and $59.7 million in money market deposits and others. The increase in time deposits was largely attributable to new customers opening CD accounts, reflecting a preference for higher-yielding products, as well as an increase in wholesale CD balances. The growth in money market deposits and others was mainly due to inflows from new customers and higher balances from existing customers.

The following table sets forth the maturity of time deposits as of September 30, 2025:



	As of September 30, 2025
($ in thousands)	Within Three Months			Three to Six Months			Six to Nine Months			Nine to Twelve Months			After Twelve Months			Total
Time deposits (greater than $250)	$	190,867		$	281,670		$	101,862		$	93,108		$	376		$	667,883
Time deposits ($250 or less)	236,668			194,941			105,386			120,316			1,360			658,671
Total time deposits	$	427,535		$	476,611		$	207,248		$	213,424		$	1,736		$	1,326,554
Weighted average rate	4.28		%	4.16		%	4.26		%	4.18		%	2.84		%	4.21		%

OTHER HIGHLIGHTS

Liquidity

The Company maintains ample access to liquidity, including highly liquid assets on our balance sheet and available unused borrowings from other financial institutions. The following table presents the Company's liquid assets and available borrowings as of dates presented:



($ in thousands)	3Q2025			2Q2025			3Q2024
Liquidity Assets:
Cash and cash equivalents	$	166,748		$	205,388		$	166,756
Available-for-sale ("AFS") debt securities	200,760			175,000			199,373
Liquid assets	$	367,508		$	380,388		$	366,129
Liquid assets to total assets	14		%	15		%	15		%

Available Borrowings:
Federal Home Loan Bank ("FHLB") —San Francisco	$	430,887		$	443,207		$	397,617
Federal Reserve Bank	210,584			223,373			207,782
Pacific Coast Bankers Bank	50,000			50,000			50,000
Zions Bank	25,000			25,000			25,000
First Horizon Bank	25,000			25,000			25,000
Total available borrowings	$	741,471		$	766,580		$	705,399
Total available borrowings to total assets	28		%	30		%	30		%

Liquid assets and available borrowings to total deposits	49		%	51		%	52		%

Capital and Capital Ratios

On October 23, 2025, the Company’s Board of Directors declared a quarterly cash dividend of $0.12 per share of its common stock. The dividend is payable on or about November 20, 2025, to shareholders of record as of the close of business on November 6, 2025. The principal source of funds from which the Company pays dividends are the dividends received from the Bank. Future dividends are subject to Board of Directors’ approval and will depend on the Company’s earnings, financial condition, capital requirements, and other relevant factors. On August 28, 2025, the Company’s Board of Directors approved a stock repurchase program authorizing the repurchase of up to 700,000 shares of the Company’s common stock (the “Repurchase Program”). No shares were repurchased under the Repurchase Program during the third quarter of 2025.



	OP Bancorp(1)		Open Bank		Well- Capitalized Requirement		Minimum Capital Ratio+ Conservation Buffer(2)
Risk-Based Capital Ratios (3):
Total capital	12.17	%	12.06	%	10.00	%	10.50	%
Tier 1 capital	10.92		10.81		8.00		8.50
CET1 capital	10.92		10.81		6.50		7.00
Tier 1 leverage	9.01		8.93		5.00		4.00

(1)The capital requirements are only applicable to the Bank, and the Company's ratios are included for comparison purpose.

(2)An additional 2.5% capital conservation buffer above the minimum capital ratios are required in order to avoid limitations on distributions, including dividend payments and certain discretionary bonuses to executive officers. This buffer does not apply and is not included in the tier 1 leverage ratio.

(3)The Company’s September 30, 2025 regulatory capital ratios and risk-weighted assets are preliminary.



OP Bancorp											% or Basis Point Change 3Q2025 vs.
	3Q2025				2Q2025			3Q2024			2Q2025		3Q2024
Risk-Based Capital Ratios:
Total capital	12.17		%	(1)	12.26		%	12.79		%	(9) bps		(62) bps
Tier 1 capital	10.92			(1)	11.01			11.57			(9) bps		(65) bps
CET1 capital	10.92			(1)	11.01			11.57			(9) bps		(65) bps
Tier 1 leverage	9.01			(1)	8.96			9.30			5 bps		(29) bps
Risk-weighted Assets ($ in thousands)	$	2,127,000		(1)	$	2,063,034		$	1,876,722		3	%	13	%

(1)The Company’s September 30, 2025 regulatory capital ratios and risk-weighted assets are preliminary.

ABOUT OP BANCORP

OP Bancorp, the holding company for Open Bank (the “Bank”), is a California corporation whose common stock is quoted on the Nasdaq Global Market under the ticker symbol, “OPBK.” The Bank is engaged in the general commercial banking business in Los Angeles, Orange, and Santa Clara Counties in California, the Dallas metropolitan area in Texas, and Clark County in Nevada and 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 currently operates twelve full-service branch offices in Downtown Los Angeles, Los Angeles Fashion District, Los Angeles Koreatown, Cerritos, Gardena, Buena Park, Garden Grove and Santa Clara, California, Carrollton, Texas and Las Vegas, Nevada. The Bank also has five loan production offices in Pleasanton, California, Atlanta, Georgia, Aurora, Colorado, Lynnwood, Washington, and Fairfax, Virginia. The Bank commenced its operations on June 10, 2005 as First Standard Bank and changed its name to Open Bank in October 2010. Its headquarters is located at 1000 Wilshire Blvd., Suite 500, Los Angeles, California 90017. Phone 213.892.9999; www.myopenbank.com.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS

Our forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those projected or could cause us to change plans or strategies or otherwise to take actions that differ from those we currently expect. The known risks and uncertainties that may have these effects are described in Part II, Item 1A, of our Quarterly Report on Form 10-Q for the period ended June 30, 2025, and in our other filings with the Securities and Exchange Commission. You should read all forward-looking statements in the context of the foregoing and should not consider them to be reliable predictions of future events or as assurances of a particular level of performance or intended course of action. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Contact

Investor Relations

OP Bancorp

Jaehyun Park

EVP & CFO

213.593.4865

jaehyun.park@myopenbank.com

CONSOLIDATED BALANCE SHEETS (unaudited)



($ in thousands)	As of						% Change 3Q2025 vs.
	3Q2025		2Q2025		3Q2024		2Q2025		3Q2024
Assets
Cash and due from banks	$	10,931	$	16,592	$	24,519	(34)	%	(55)	%
Interest-bearing deposits with banks	155,817		188,796		142,237		(17)		10
Cash and cash equivalents	166,748		205,388		166,756		(19)		0
AFS debt securities, at fair value	200,760		175,000		199,373		15		1
Other investments	17,164		17,101		16,520		0		4
Loans held-for-sale	6,480		20,016		8,160		(68)		(21)
CRE	1,092,808		1,021,431		966,472		7		13
SBA	256,211		263,424		252,379		(3)		2
C&I	214,419		193,359		212,476		11		1
Home mortgage	587,641		593,256		499,666		(1)		18
Consumer and other	138		110		14		25		886
Gross loans	2,151,217		2,071,580		1,931,007		4		11
Allowance for credit losses on loans	(27,299)		(26,286)		(22,960)		4		19
Net loans	2,123,918		2,045,294		1,908,047		4		11
Premises and equipment, net	6,995		6,852		4,961		2		41
Accrued interest receivable	10,337		9,991		9,479		3		9
Servicing assets	10,429		10,572		10,877		(1)		(4)
Company owned life insurance	23,437		23,259		22,739		1		3
Deferred tax assets, net	12,099		12,633		12,288		(4)		(2)
Other real estate owned ("OREO")	845		1,237		1,237		(32)		(32)
Operating right-of-use assets	9,347		9,887		7,870		(5)		19
Other assets	25,655		26,365		19,673		(3)		30
Total assets	$	2,614,214	$	2,563,595	$	2,387,980	2	%	9	%
Liabilities and Shareholders' Equity
Liabilities:
Noninterest-bearing	$	543,972	$	565,683	$	561,801	(4)	%	(3)	%
Money market and others	402,891		431,252		343,188		(7)		17
Time deposits greater than $250	667,883		643,350		564,547		4		18
Other time deposits	658,671		614,443		595,067		7		11
Total deposits	2,273,417		2,254,728		2,064,603		1		10
FHLB advances	75,000		50,000		75,000		50		—
Accrued interest payable	15,968		15,720		19,483		2		(18)
Operating lease liabilities	11,826		12,243		8,417		(3)		41
Other liabilities	16,504		17,186		16,874		(4)		(2)
Total liabilities	2,392,715		2,349,877		2,184,377		2		10
Shareholders' equity:
Common stock	72,984		72,984		73,697		—		(1)
Additional paid-in capital	11,658		11,484		11,713		2		0
Retained earnings	148,031		143,114		131,588		3		12
Accumulated other comprehensive loss, net of tax	(11,174)		(13,864)		(13,395)		(19)		(17)
Total shareholders’ equity	221,499		213,718		203,603		4		9
Total liabilities and shareholders' equity	$	2,614,214	$	2,563,595	$	2,387,980	2	%	9	%

CONSOLIDATED STATEMENTS OF INCOME (unaudited)



($ in thousands, except share and per share data)	For the Three Months Ended									% or Basis Point Change 3Q2025 vs.
	3Q2025			2Q2025			3Q2024			2Q2025		3Q2024
Interest income
Interest and fees on loans	$	35,001		$	34,263		$	31,885		2	%	10	%
Interest on AFS debt securities	1,699			1,437			1,626			18		4
Other interest income	1,822			1,965			1,788			(7)		2
Total interest income	38,522			37,665			35,299			2		9
Interest expense
Interest on deposits	17,442			17,475			17,921			0		(3)
Interest on borrowings	734			469			872			57		(16)
Total interest expense	18,176			17,944			18,793			1		(3)
Net interest income	20,346			19,721			16,506			3		23
Provision for credit losses	1,175			1,206			448			(3)		162
Net interest income after provision for credit losses	19,171			18,515			16,058			4		19
Noninterest income
Service charges on deposits	725			1,017			889			(29)		(18)
Loan servicing fees, net of amortization	724			900			693			(20)		4
Gains on sale of loans	2,037			1,441			2,088			41		(2)
Other income	644			610			570			6		13
Total noninterest income	4,130			3,968			4,240			4		(3)
Noninterest expense
Salaries and employee benefits	8,892			9,075			8,031			(2)		11
Occupancy and equipment	1,676			1,584			1,676			6		—
Data processing and communication	263			306			634			(14)		(59)
Professional fees	419			418			346			0		21
FDIC insurance and regulatory assessments	428			506			391			(15)		9
Promotion and advertising	126			232			151			(46)		(17)
Directors’ fees	151			198			154			(24)		(2)
Foundation donation and other contributions	671			636			549			6		22
Other expenses	1,003			1,082			788			(7)		27
Total noninterest expense	13,629			14,037			12,720			(3)		7
Income before income tax expense	9,672			8,446			7,578			15		28
Income tax expense	2,969			2,113			2,142			41		39
Net income	$	6,703		$	6,333		$	5,436		6	%	23	%

Book value per share, at period-end	$	14.88		$	14.36		$	13.75		4	%	8	%
EPS - basic	0.45			0.42			0.36			7		25
EPS - diluted	0.45			0.42			0.36			7		25

Shares of common stock outstanding, at period-end	14,885,614			14,885,614			14,811,671			—	%	0	%
Weighted average shares:
- Basic	14,885,614			14,859,718			14,812,118			0	%	0	%
- Diluted	14,919,474			14,859,718			14,812,118			0		1

ROA (1)	1.04		%	1.00		%	0.94		%	4 bps		10 bps
ROE (1)	12.36			11.97			10.95			39 bps		141 bps
Net interest margin (1)	3.26			3.23			2.95			3 bps		31 bps
Efficiency ratio (2)	55.68			59.25			61.31			(357) bps		(563) bps

(1)Annualized.

(2)Represents noninterest expense divided by the sum of net interest income and noninterest income.

CONSOLIDATED STATEMENTS OF INCOME (unaudited)



($ in thousands, except share and per share data)	For the Nine Months Ended
	3Q2025			3Q2024			% or Basis Point vs.
Interest income
Interest and fees on loans	$	100,953		$	92,632		9	%
Interest on AFS debt securities	4,632			4,676			(1)
Other interest income	5,461			5,261			4
Total interest income	111,046			102,569			8
Interest expense
Interest on deposits	51,525			50,939			1
Interest on borrowings	2,036			2,951			(31)
Total interest expense	53,561			53,890			(1)
Net interest income	57,485			48,679			18
Provision for credit losses	3,117			1,210			158
Net interest income after provision for credit losses	54,368			47,469			15
Noninterest income
Service charges on deposits	2,742			2,294			20	%
Loan servicing fees, net of amortization	2,631			2,040			29
Gains on sale of loans	5,497			6,116			(10)
Other income	2,044			1,560			31
Total noninterest income	12,914			12,010			8
Noninterest expense
Salaries and employee benefits	26,743			23,440			14
Occupancy and equipment	4,841			4,991			(3)
Data processing and communication	865			1,651			(48)
Professional fees	1,244			1,147			8
FDIC insurance and regulatory assessments	1,421			1,143			24
Promotion and advertising	514			451			14
Directors’ fees	529			489			8
Foundation donation and other contributions	1,863			1,628			14
Other expenses	3,460			2,126			63
Total noninterest expense	41,480			37,066			12
Income before income tax expense	25,802			22,413			15
Income tax expense	7,206			6,315			14
Net income	$	18,596		$	16,098		16	%

Book value per share, at period-end	$	14.88		$	13.75		8	%
EPS - basic	1.25			1.06			18
EPS - diluted	1.25			1.06			18

Shares of common stock outstanding, at period-end	14,885,614			14,811,671			0	%
Weighted average shares:
- Basic	14,867,626			14,890,479			0	%
- Diluted	14,894,309			14,890,479			0	%

ROA (1)	0.99		%	0.95		%	4 bps
ROE (1)	11.70			11.00			70 bps
Net interest margin	3.17			2.99			18 bps
Efficiency ratio (2)	58.92			61.08			(216) bps

(1)Annualized.

(2)Represents noninterest expense divided by the sum of net interest income and noninterest income.

ASSET QUALITY



($ in thousands)	As of and For the Three Months Ended
	3Q2025			2Q2025			3Q2024
Nonaccrual loans (1)(2)	$	12,312		$	8,916		$	3,620
Loans 90 days or more past due, accruing	—			—			—

Nonperforming loans	12,312			8,916			3,620
OREO	845			1,237			1,237
Nonperforming assets	$	13,157		$	10,153		$	4,857

Criticized loans (3) by risk categories:
Special mention loans	$	8,695		$	9,257		$	4,540
Classified loans (4)	19,380			14,501			11,960
Total criticized loans	$	28,075		$	23,758		$	16,500

Nonperforming loans to gross loans	0.57		%	0.43		%	0.19		%
Nonperforming assets to gross loans & OREO	0.61			0.49			0.25
Nonperforming assets to total assets	0.50			0.40			0.20
Classified loans to gross loans	0.90			0.70			0.62
Criticized loans to gross loans	1.31			1.15			0.85

Allowance for credit losses ratios:
As a % of gross loans	1.27		%	1.27		%	1.19		%
As a % of nonperforming loans	222			295			634
As a % of nonperforming assets	207			259			473
As a % of classified loans	141			181			192
As a % of criticized loans	97			111			139

Net charge-offs	$	193		$	337		$	34
Net charge-offs (5) to average gross loans	0.04		%	0.06		%	0.01		%

(1)Excludes loans held-for-sale.

(2)Excludes the guaranteed portion of loans that are in liquidation totaling $17.6 million, $13.9 million and $11.1 million as of September 30, 2025, June 30, 2025 and September 30, 2024, respectively.

(3)Excludes the guaranteed portion of loans that are in liquidation totaling $20.8 million, $17.1 million and $11.1 million as of September 30, 2025, June 30, 2025 and September 30, 2024, respectively.

(4)Consists of substandard, doubtful and loss categories.

(5)Annualized.



($ in thousands)	3Q2025		2Q2025		3Q2024
Accruing delinquent loans 30-89 days past due by loan type:
CRE	$	—	$	—	$	—
SBA	1,390		4,509		1,420
C&I	617		—		—
Home mortgage	852		298		2,675
Total 30-59 days	2,859		4,807		4,095

CRE	—		—		—
SBA	378		1,883		1,180
C&I	—		—		—
Home mortgage	2,149		3,114		5,031
Total 60-89 days	2,527		4,997		6,211

CRE	—		—		—
SBA	1,768		6,392		2,600
C&I	617		—		—
Home mortgage	3,001		3,412		7,706
Total accruing delinquent loans 30-89 days past due	$	5,386	$	9,804	$	10,306

Nonaccrual loans (1) by loan type:
CRE	$	2,365	$	1,802	$	—
SBA	8,538		5,696		3,213
C&I	—		—		407
Home mortgage	1,409		1,418		—
Total nonaccrual	$	12,312	$	8,916	$	3,620

Criticized loans(2) by loan type:
CRE	$	9,345	$	8,816	$	5,249
SBA	14,925		12,949		10,144
C&I	864		575		1,107
Home mortgage	2,941		1,418		—
Total criticized	$	28,075	$	23,758	$	16,500

AVERAGE BALANCE SHEET, INTEREST AND YIELD/RATE ANALYSIS



	For the Three Months Ended
	3Q2025						2Q2025						3Q2024
($ in thousands)	Average Balance		Interest Income/Expense		Average Yield/Rate(1)		Average Balance		Interest Income/Expense		Average Yield/Rate(1)		Average Balance		Interest Income/Expense		Average Yield/Rate(1)
Interest-earning assets:
Interest-bearing deposits in other banks	$	134,263	$	1,502	4.38	%	$	147,874	$	1,648	4.41	%	$	109,003	$	1,474	5.29	%
Other investments	17,112		320		7.48		16,961		317		7.47		16,432		314		7.65
AFS debt securities, at fair value	199,766		1,699		3.40		180,193		1,437		3.19		199,211		1,626		3.26
CRE	1,065,460		16,689		6.21		1,028,961		16,013		6.24		945,828		14,759		6.21
SBA	286,556		6,841		9.47		283,130		6,618		9.38		268,687		7,107		10.52
C&I	188,146		3,537		7.46		195,547		3,667		7.52		187,748		3,642		7.72
Home mortgage	591,934		7,931		5.36		587,454		7,962		5.42		503,148		6,364		5.06
Consumer and other	129		3		9.86		76		3		15.86		541		13		9.37
Loans (2)	2,132,225		35,001		6.52		2,095,168		34,263		6.56		1,905,952		31,885		6.66
Total interest-earning assets	2,483,366		38,522		6.16		2,440,196		37,665		6.18		2,230,598		35,299		6.30
Noninterest-earning assets	83,238						83,394						88,747
Total assets	$	2,566,604					$	2,523,590					$	2,319,345

Interest-bearing liabilities:
Money market deposits and others	$	425,248	$	3,793	3.54	%	$	408,667	$	3,586	3.52	%	$	343,429	$	3,601	4.17	%
Time deposits	1,275,417		13,649		4.25		1,267,363		13,889		4.40		1,127,078		14,320		5.05
Total interest-bearing deposits	1,700,665		17,442		4.07		1,676,030		17,475		4.18		1,470,507		17,921		4.85
Borrowings	76,250		734		3.82		46,707		469		4.04		80,326		872		4.32
Total interest-bearing liabilities	1,776,915		18,176		4.06		1,722,737		17,944		4.18		1,550,833		18,793		4.82
Noninterest-bearing liabilities:
Noninterest-bearing deposits	528,926						547,545						528,126
Other noninterest-bearing liabilities	43,890						41,624						41,892
Total noninterest-bearing liabilities	572,816						589,169						570,018
Shareholders’ equity	216,873						211,684						198,494
Total liabilities and shareholders’ equity	$	2,566,604					$	2,523,590					$	2,319,345

Net interest income / interest rate spreads			$	20,346	2.10	%			$	19,721	2.00	%			$	16,506	1.48	%
Net interest margin					3.26	%					3.23	%					2.95	%

Cost of deposits & cost of funds:
Total deposits / cost of deposits	$	2,229,591	$	17,442	3.10	%	$	2,223,575	$	17,475	3.15	%	$	1,998,633	$	17,921	3.57	%
Total funding liabilities / cost of funds	2,305,841		18,176		3.13		2,270,282		17,944		3.17		2,078,959		18,793		3.60

(1)Annualized.

(2)Includes loans held-for-sale.



	For the Nine Months Ended
	3Q2025						3Q2024
($ in thousands)	Average Balance		Interest Income/Expense		Average Yield/Rate(1)		Average Balance		Interest Income/Expense		Average Yield/Rate(1)
Interest-earning assets:
Interest-bearing deposits in other banks	$	135,439	$	4,522	4.40	%	$	106,022	$	4,310	5.34	%
Other investments	16,851		939		7.43		16,335		951		7.76
AFS debt securities, at fair value	188,258		4,632		3.28		195,383		4,676		3.19
CRE	1,031,854		47,681		6.18		919,566		42,230		6.13
SBA	278,621		19,666		9.44		261,293		21,436		10.96
C&I	198,512		10,982		7.40		165,343		9,679		7.82
Home mortgage	568,811		22,612		5.30		505,669		19,207		5.06
Consumer & other	146		12		10.85		1,046		80		10.10
Loans (2)	2,077,944		100,953		6.49		1,852,917		92,632		6.68
Total interest-earning assets	2,418,492		111,046		6.13		2,170,657		102,569		6.30
Noninterest-earning assets	81,505						88,594
Total assets	$	2,499,997					$	2,259,251

Interest-bearing liabilities:
Money market deposits and others	$	396,168	$	10,463	3.53	%	$	349,766	$	11,035	4.21	%
Time deposits	1,250,518		41,062		4.39		1,061,609		39,904		5.02
Total interest-bearing deposits	1,646,686		51,525		4.18		1,411,375		50,939		4.82
Borrowings	67,290		2,036		4.05		88,743		2,951		4.44
Total interest-bearing liabilities	1,713,976		53,561		4.18		1,500,118		53,890		4.80
Noninterest-bearing liabilities:
Noninterest-bearing deposits	532,867						523,951
Other noninterest-bearing liabilities	41,198						40,141
Total noninterest-bearing liabilities	574,065						564,092
Shareholders’ equity	211,956						195,041
Total liabilities and shareholders’ equity	$	2,499,997					$	2,259,251

Net interest income / interest rate spreads			$	57,485	1.95	%			$	48,679	1.50	%
Net interest margin					3.17	%					2.99	%

Cost of deposits & cost of funds:
Total deposits / cost of deposits	$	2,179,553	$	51,525	3.16	%	$	1,935,326	$	50,939	3.52	%
Total funding liabilities / cost of funds	2,246,843		53,561		3.19		2,024,069		53,890		3.56

(1)Annualized.

(2)Includes loans held-for-sale.

EX-99.2 3 opbk8-kerx2025xq3xex992.htm EX-99.2 Document

Exhibit 99.2

OP Bancorp Declares Quarterly Cash Dividend of $0.12 per Share

LOS ANGELES, October 23, 2025 — OP Bancorp (the “Company”) (NASDAQ: OPBK), the holding company of Open Bank (the “Bank”), announced today that its Board of Directors declared a quarterly cash dividend of $0.12 per share of its common stock. The dividend is payable on or about November 20, 2025 to all shareholders of record as of the close of business on November 6, 2025.

About OP Bancorp

OP Bancorp, the holding company for Open Bank (the “Bank”), is a California corporation whose common stock is quoted on the Nasdaq Global Market under the ticker symbol, “OPBK.” The Bank is engaged in the general commercial banking business in Los Angeles, Orange, and Santa Clara Counties in California, the Dallas metropolitan area in Texas, and Clark County in Nevada and 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 currently operates with twelve full-service branch offices in Downtown Los Angeles, Los Angeles Fashion District, Los Angeles Koreatown, Cerritos, Gardena, Buena Park, Garden Grove and Santa Clara, California; Carrollton, Texas, and Las Vegas, Nevada. The Bank also has five loan production offices in Pleasanton, California; Atlanta, Georgia; Aurora, Colorado; Lynnwood, Washington; and Fairfax, Virginia. The Bank commenced its operations on June 10, 2005 as First Standard Bank and changed its name to Open Bank in October 2010. Its headquarters is located at 1000 Wilshire Blvd., Suite 500, Los Angeles, California 90017. Phone: 213.892.9999; www.myopenbank.com Member FDIC, Equal Housing Lender.

Contact

Investor Relations

OP Bancorp

Jaehyun Park

EVP & CFO

213.593.4865

jaehyun.park@myopenbank.com

EX-99.3 4 final_opbkearningspresen.htm EX-99.3 final_opbkearningspresen

Third Quarter 2025 Earnings Presentation October 23, 2025

Certain matters set forth herein constitute “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and Rule 3b-6 promulgated thereunder. All statements that are not statements of historical fact are forward-looking, and readers should not construe these statements of assurances of expected or intended results, or of promises that management will take a given course of action or pursue the currently expected strategies and objectives. Forward-looking statements in this report include comments about the Company’s current business plans and expectations regarding future operating results, as well as management’s statements about expected future events and economic developments, plans, strategies and objectives. All such statements reflect the current intentions, beliefs and expectations of the Company’s executive management based on currently available information and current and expected market conditions. Forward-looking statements can sometimes be identified by the use of forward-looking language, such as “likely result in,” “expects,” “anticipates,” “estimates,” “forecasts,” “projects,” “intends to,” or may include other similar words or phrases, such as “believes,” “plans,” “trend,” “objective,” “continues,” “remains,” or similar expressions, or future or conditional verbs, such as “will,” “would,” “should,” “could,” “may,” “might,” “can,” or similar verbs. Readers should not construe these statements as assurances of a given level of performance, or as promises that we will take the actions our management currently expects. Our forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those projected or could cause us to change plans or strategies or otherwise to take actions that differ from those we currently expect. The known risks and uncertainties that may have these effects are described in Part II, Item 1A, of our Quarterly Report on Form 10-Q for the period ended June 30, 2025, and in our other filings with the Securities and Exchange Commission. You should read all forward-looking statements in the context of the foregoing and should not consider them to be reliable predictions of future events or as assurances of a particular level of performance or intended course of action. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise. Cautionary Note Regarding Forward-Looking Statements 2

3Q-2025 Highlights vs 2Q-2025 3 (1) Annualized. (2) Excludes the guaranteed portion of SBA loans that are in liquidation. (3) Includes special mention, substandard, doubtful, and loss categories. Net Income $6.7M Earnings & Profitability Balance Sheet Growth Credit Quality Capital Adequacy • Net income of $6.7 million, compared to $6.3 million • Diluted earnings per share of $0.45, compared to $0.42 • ROA(1) and ROE(1) of 1.04% and 12.36%, compared to 1.00% and 11.97%, respectively • Net interest margin of 3.26%, compared to 3.23% • Efficiency ratio of 55.68%, compared to 59.25% • Total assets of $2.61 billion, a 2% increase compared to $2.56 billion • Gross loans of $2.15 billion, a 4% increase compared to $2.07 billion • Total deposits of $2.27 billion, an 1% increase compared to $2.25 billion • Net charge-offs(1) to average gross loans of 0.04%, compared to 0.06% • Nonperforming loans(2) to gross loans of 0.57%, compared to 0.43%. • Criticized loans (2) (3) to gross loans of 1.31%, compared to 1.15% • Remained well-capitalized with a Common Equity Tier 1 (“CET1”) ratio of 10.92% • Book value per common share increased to $14.88, compared to $14.36 • Paid quarterly cash dividend of $0.12 per share for the periods Diluted EPS $0.45 ROA (1) 1.04% ROE (1) 12.36% NIM 3.26% Efficiency 55.68%

Balance Sheet Trend 4 Gross Loans ($mm)Total Assets ($mm) Total Equity ($mm) & Book Value Per Share ($)Total Deposits ($mm)

Loan Trend 5 Loan Originations* ($mm)Loan Composition ($mm) Loan Yields (%) Commercial Real Estate Concentration (%) * Excludes changes in line utilization.

Loan by Interest Rate Type 6 Hybrid Loan Repricing Schedule ($mm)Composition by Interest Rate Type (%) Contractual Rates by Interest Rate Type (%) Loan Maturity Schedule ($mm)

* Based on Call Report definitions, which includes real estate loans and SBA real estate loans. Commercial Real Estate Portfolio 7 CRE* Portfolio by Property TypeCRE* Portfolio by Collateral Type September 30, 2025 ($1.25 billion)

* Based on Call Report definitions, which includes real estate loans and SBA real estate loans. ** Excludes SBA loans and USDA loans. Commercial Real Estate Portfolio 8 CRE Portfolio ** by Loan-to-Value Ratio (LTV)CRE Portfolio * by Location

Home Loan Portfolio 9 Home Loan Portfolio by LTVHome Loan Portfolio by Location Home Loan Portfolio by Occupancy Type September 30, 2025 ($588 million)

SBA Loans 10 SBA Portfolio* by IndustrySBA Portfolio by Location September 30, 2025 ($256 million)

* Excludes $22.2 million in SBA C&I loans. SBA Loans 11 SBA Portfolio by Collateral TypeSBA Portfolio* by LTV

Deposit Trend 12 Noninterest Bearing Deposits ($mm)Deposit Composition ($mm) Cost of Deposits (%) CD Maturity Schedule ($mm)

Earnings & Profitability 13 Noninterest Income ($mm)Net Interest Income ($mm) & Net Interest Margin (%) * Interest Income & Interest Expense ($mm) Noninterest Income Components ($mm) * Annualized.

Earnings & Profitability 14 Efficiency Ratio (%)Noninterest Expense ($mm) Noninterest Expense Components ($mm) Efficiency Ratio Components (%) * * Ratios for Efficiency Ratio Components are percentages of average assets and are annualized.

Earnings & Profitability 15 Pre-Provision Net Revenue ($mm)*Provision for Loan Losses ($mm) Net Income ($mm) & Diluted EPS ($) Return on Assets & Return on Equity (%) * Pre-provision net revenue is a non-GAAP financial measure. See reconciliation of GAAP to non-GAAP measures on Page 19.

Source: Target Fed Funds Rate per Federal Open Market Committee guidance. Net Interest Margin Trend 16

Credit Quality 17 Criticized Loans ($mm)Nonperforming Loans ($mm) Net Charge-Offs** ($mm)Allowance for Credit Losses* ($mm) * Exclude the guaranteed portion of SBA loans that are in liquidation. ** Annualized

Liquidity & Capital 18 Total Available Liquidity* ($mm)Liquidity Assets ($mm) Tier 1 Leverage ($mm) Total Risk Based Capital ($mm) * Represent the sum of liquid assets and available borrowings.

Non-GAAP Reconciliation 19