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OP Bancorp operates as the bank holding company for Open Bank that provides banking products and services. It offers demand, savings, money market, and time deposit accounts, as well as certificates of deposit. It also provides commercial real estate, small business administration, home mortgage, and consumer loans. It operates full branch offices in Los Angeles and Orange Counties in California, as well as Santa Clara, California; Carrollton, Texas; Las Vegas, Nevada Pleasanton, California; Atlanta, Georgia; Aurora, Colorado; Lynnwood, Washington; and Fairfax, Virginia. The company was founded in 2005 and is headquartered in Los Angeles, California.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $95M | - | $26M | $23M | 11.2% | 15.4% | 21.7% |
| 2024 | $82M | - | $21M | $30M | 10.3% | -1.0% | -11.9% |
| 2023 | $83M | - | $24M | $66M | 12.4% | -12.3% | -28.2% |
| 2022 | $95M | - | $33M | $82M | 18.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 94.53 | 82.87 | 82.03 | 94.68 |
| Pretax Income | 46.72 | 33.49 | 29.08 | 35.33 |
| Tax Provision | 13.41 | 9.57 | 8.01 | 9.69 |
| Net Income | 33.31 | 23.92 | 21.07 | 25.64 |
| Net Income Common Stockholders | 32.61 | 23.44 | 20.69 | 25.64 |
| Interest Expense | 11.30 | 52.98 | 72.01 | 71.98 |
| Interest Income | 88.21 | 121.67 | 137.62 | 150.33 |
| Selling General And Administration | 29.23 | 32.34 | 34.56 | 38.95 |
| Normalized Income | 33.31 | 23.92 | 21.07 | 25.64 |
| Basic EPS | 2.15 | 1.55 | 1.39 | 1.72 |
| Diluted EPS | 2.14 | 1.55 | 1.39 | 1.72 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.29 | 0.29 | 0.28 | 0.27 |
| Total Unusual Items | 0 | 0 | 0 | 0 |
| Total Unusual Items Excluding Goodwill | 0 | 0 | 0 | 0 |
| Net Income From Continuing Operation Net Minority Interest | 33.31 | 23.92 | 21.07 | 25.64 |
| Reconciled Depreciation | 1.37 | 4.47 | 4.65 | 7.26 |
| Net Interest Income | 76.91 | 68.69 | 65.61 | 78.35 |
| Net Income From Continuing And Discontinued Operation | 33.31 | 23.92 | 21.07 | 25.64 |
| Diluted Average Shares | 15.23 | 15.16 | 14.87 | 14.91 |
| Basic Average Shares | 15.17 | 15.15 | 14.87 | 14.87 |
| Diluted NI Availto Com Stockholders | 32.61 | 23.44 | 20.69 | 25.64 |
| Otherunder Preferred Stock Dividend | 0.70 | 0.48 | 0.38 | 0 |
| Net Income Including Noncontrolling Interests | 33.31 | 23.92 | 21.07 | 25.64 |
| Net Income Continuous Operations | 33.31 | 23.92 | 21.07 | 25.64 |
| Special Income Charges | 0 | 0 | 0 | 0 |
| Other Special Charges | 0 | 0 | 0 | 0 |
| Selling And Marketing Expense | 0.54 | 0.61 | 0.53 | 0.51 |
| General And Administrative Expense | 28.68 | 31.73 | 34.03 | 38.45 |
| Other Gand A | 0 | 0 | 0 | 0 |
| Insurance And Claims | 0.81 | 1.46 | 1.67 | 1.78 |
| Salaries And Wages | 27.87 | 30.27 | 32.36 | 36.66 |
| Operating Revenue | 94.53 | 82.87 | 82.03 | 94.68 |
| Occupancy And Equipment | 5.96 | 6.49 | 6.67 | 6.76 |
| Professional Expense And Contract Services Expense | 1.62 | 1.57 | 1.53 | 1.79 |
| Other Non Interest Expense | 8.02 | 7.32 | 7.43 | 8.27 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| OP Bancorpthis co. | OPBK | $215M | 7.89↓ discount | 0.94 | 11.2% | - |
| Virginia National Bankshares Corporation | VABK | $229M | 11.44 | 1.24 | 10.5% | - |
| National Bankshares, Inc. | NKSH | $228M | 12.95 | 1.23 | 8.6% | - |
| FinWise Bancorp | FINW | $218M | 14.09 | 1.13 | 8.3% | - |
| Meridian Corporation | MRBK | $218M | 8.87 |
| 1.07 |
| 10.9% |
| - |
| Medallion Financial Corp. | MFIN | $218M | 5.20 | 0.51 | 9.2% | 13.46 |
| Open Lending Corporation | LPRO | $209M | - | 2.78 | -5.7% | 18.99 |
| Peoples Bancorp of North Carolina, Inc. | PEBK | $208M | 10.76 | 1.32 | 12.6% | - |
| Eagle Financial Services, Inc. | EFSI | $205M | 9.95 | 1.06 | 4.3% | - |
| Peer Median | - | 10.76 | 1.18 | 8.9% | 16.22 | |