Form 8-K - Groowe Newsroom

8-K — OP Bancorp

Accession: 0001722010-26-000009

Filed: 2026-04-23

Period: 2026-04-23

CIK: 0001722010

SIC: 6022 (STATE COMMERCIAL BANKS)

Item: Results of Operations and Financial Condition

Item: Regulation FD Disclosure

Item: Other Events

Item: Financial Statements and Exhibits

Documents

8-K — opbk-20260423.htm (Primary)

EX-99.1 (opbk8-kerx2026xq1xex991.htm)

EX-99.2 (opbk8-kerx2026xq1xex992.htm)

EX-99.3 (exhibit993earningspresen.htm)

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8-K

8-K (Primary)

Filename: opbk-20260423.htm · Sequence: 1

opbk-20260423

0001722010False00017220102026-04-232026-04-23

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): April 23, 2026

____________________________________

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 April 23, 2026, OP Bancorp, (the “Company”), the holding company for Open Bank, issued its press release announcing preliminary unaudited financial results for the first quarter ended March 31, 2026. 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, is furnished hereunder and 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 April 23, 2026, 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 April 23, 2026, the Company announced that its Board of Directors declared a quarterly cash dividend of $0.14 per share on its common stock, payable on May 21, 2026, to shareholders of record as of May 7, 2026. The Company issued a press release describing the dividend on April 23, 2026, 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, is furnished hereunder and 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 April 23, 2026 - First Quarter 2026 Results

99.2

Press Release, dated April 23, 2026 - Dividend Declaration

99.3

Earnings Presentation - First Quarter 2026 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: April 23, 2026

By: /s/ Jaehyun Park

Jaehyun Park

Executive Vice President and

Chief Financial Officer

EX-99.1

Filename: opbk8-kerx2026xq1xex991.htm · Sequence: 2

Document

News Release

OP Bancorp Reports First Quarter 2026 Net Income of $7.2 Million, Diluted EPS of $0.48

compared with Fourth quarter 2025 net income of $7.0 million, diluted EPS of $0.47,

and first quarter 2025 net income of $5.6 million, diluted EPS of $0.37

Higher revenue; improved operating efficiency

Los Angeles, CA (April 23, 2026) — 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 First Quarter Highlights

1Q2026 4Q2025 1Q2025 Comparisons reflect 1Q26 vs. 4Q25

Income Statement: Income Statement

Net interest income $ 20,523 $ 20,863 $ 17,418

• Revenue continued to grow.

•Net income increased 3%, benefiting from higher revenue and reductions in both provision and noninterest expenses.

•Diluted EPS improved modestly by $0.01.

Noninterest income 4,032 3,418 4,816

Revenue 24,555 24,281 22,234

Provision for credit losses 412 463 736

Noninterest expense 14,233 14,293 13,814

Net income $ 7,234 $ 7,038 $ 5,560

Diluted Earnings Per Share (“EPS”) $ 0.48 $ 0.47 $ 0.37

Net interest margin (1)

3.19 % 3.25 % 3.01 %

Efficiency ratio (2)

57.97 58.87 62.13

Balance Sheet: Balance Sheet

Average loans (3)

$ 2,226,749 $ 2,204,232 $ 2,005,044

•Average loans increased 1%.

•Average deposits increased 2%.

Average deposits 2,300,455 2,264,990 2,083,890

Credit Quality: Credit Quality

Net (recoveries) charge-offs (1) to average gross loans

(0.01) % (0.03) % 0.02 %

•Net charge-offs remained at a low level.

Allowance for credit losses on loans to gross loans 1.27 1.28 1.24

•Allowance for credit losses to gross loans remained stable.

Selected Ratios: Performance and Capital

Book value per share $ 15.62 $ 15.31 $ 14.09

•Book value per share continued to rise, reflecting the Company’s growing net worth.

Return on average assets ("ROAA") (1)

1.08 % 1.07 % 0.92 %

•ROAA, ROAE and stockholders’ equity to asset ratios improved, reflecting stable profitability and more efficient utilization of assets and equity.

Return on average equity ("ROAE") (1)

12.56 12.53 10.73

Stockholders' equity to asset ratio 8.62 8.60 8.36

Common equity tier 1 capital (“CET1”) 10.82 10.93 10.97

•CET1 remained robust, reflecting a solid capital position.

(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 continued to deliver strong results that highlight the strength and resilience of our Company. Revenue grew steadily, supported by continued loan and deposit growth, along with higher noninterest income from increased gains on loan sales. Our disciplined expense management further enhanced performance, and overall credit quality remained sound and manageable with low net charge-offs. With a solid capital base, we are well-positioned for sustainable growth as we move into 2026,” 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 1Q2026 vs.

1Q2026 4Q2025 1Q2025 4Q2025 1Q2025

Interest Income

Interest income $ 38,537 $ 39,282 $ 34,859 (2) % 11 %

Interest expense 18,014 18,419 17,441 (2) 3

Net interest income $ 20,523 $ 20,863 $ 17,418 (2) % 18 %

($ in thousands) For the Three Months Ended Average Yield/Rate Change 1Q2026 vs.

1Q2026 4Q2025 1Q2025

Interest Income/Expense

Average Yield/Rate(1)

Interest Income/Expense

Average Yield/Rate(1)

Interest Income/Expense

Average Yield/Rate(1)

4Q2025 1Q2025

Interest-earning Assets:

Loans $ 34,879 6.33 % $ 35,921 6.48 % $ 31,689 6.39 % (15) bps (6) bps

Total interest-earning assets 38,537 6.00 39,282 6.11 34,859 6.04 (11) bps (4) bps

Interest-bearing Liabilities:

Interest-bearing deposits 16,845 3.83 17,324 3.97 16,608 4.31 (14) bps (48) bps

Total interest-bearing liabilities 18,014 3.88 18,419 3.99 17,441 4.31 (11) bps (43) bps

Ratios:

Net interest income / interest rate spreads 20,523 2.12 20,863 2.12 17,418 1.73 — bps 39 bps

Net interest margin 3.19 3.25 3.01 (6) bps 18 bps

Total deposits / cost of deposits 16,845 2.97 17,324 3.03 16,608 3.23 (6) bps (26) bps

Total funding liabilities / cost of funds 18,014 3.04 18,419 3.09 17,441 3.27 (5) bps (23) bps

(1)Annualized.

($ in thousands) For the Three Months Ended Average Yield Change 1Q2026 vs.

1Q2026 4Q2025 1Q2025

Interest Income

Average Yield(1)

Interest Income

Average Yield(1)

Interest Income

Average Yield(1)

4Q2025 1Q2025

Loan Yield Component:

Contractual interest rate $ 34,254 6.22 % $ 35,010 6.31 % $ 31,323 6.32 % (9) bps (10) bps

Accretion of SBA loan discount(2)

815 0.15 966 0.17 683 0.14 (2) bps 1 bps

Amortization of net deferred fees 127 0.02 (17) (0.00 ) (106) (0.02) 2 bps 4 bps

Amortization of premium (312) (0.06) (301) (0.05) (329) (0.07) (1) bps 1 bps

Amortization of premium - Home mortgage payoffs (186) (0.03) (123) (0.02) (162) (0.03) (1) bps — bps

Net interest recognized on nonaccrual loans (94) (0.02) 105 0.02 132 0.02 (4) bps (4) bps

Prepayment penalty income and other fees(3)

275 0.05 281 0.05 148 0.03 — bps 2 bps

Yield on loans $ 34,879 6.33 % $ 35,921 6.48 % $ 31,689 6.39 % (15) bps (6) bps

(1)Annualized.

(2)Includes discount accretion from SBA loan payoffs of $370 thousand, $505 thousand and $193 thousand for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

(3)Includes prepayment penalty income of $98 thousand, $145 thousand and $67 thousand for the three months ended March 31, 2026, December 31, 2025 and March 31, 2025, respectively, from Commercial Real Estate (“CRE”) and SBA loans.

First Quarter 2026 vs. Fourth Quarter 2025

Net interest income declined by $340 thousand, or 2%, primarily due to lower loan yields and two fewer accrual days, partially offset by balance-sheet growth and a special dividend on FHLB stock. As a result, the net interest margin contracted by 6 basis point to 3.19%.

◦Loans: Interest income decreased by $1.0 million, driven largely by a 15-basis-point decline in loan yields and two fewer accrual days, partially offset by a $22.5 million increase in average loan balances. The lower yield reflects the downward repricing of adjustable-rate loans and reduced rates on new originations following last year’s federal funds rate cuts. In addition, higher interest income reversals related to loans moving to nonaccrual status compared to the prior quarter further contributed to the decline in loan yields.

◦Deposits: Interest expense decreased by $479 thousand, primarily due to a 14-basis-point reduction in interest-bearing deposit costs and two fewer accrual days. This decrease was partially offset by a $51.4 million increase in average interest-bearing deposit balances.

◦Other investments: Interest income increased by $250 thousand, mainly due to a special dividend received on FHLB stock.

First Quarter 2026 vs. First Quarter 2025

Net interest income increased by $3.1 million, or 18%, driven primarily by balance-sheet growth and lower deposit rates. As a result, the net interest margin expanded by 18 basis points to 3.19%.

◦Loans: Interest income rose by $3.2 million, largely attributable to a $221.7 million increase in average loan balances, reflecting strong loan production and portfolio growth.

◦Deposits: Interest expense increased by $237 thousand, mainly due to a $221.9 million increase in average interest-bearing deposit balances. This increase was mostly offset by a 48-basis-point reduction in interest-bearing deposit costs, driven by the repricing of time deposits following the federal funds rate cuts.

Provision for Credit Losses

($ in thousands) For the Three Months Ended $ Change 1Q2026 vs.

1Q2026 4Q2025 1Q2025 4Q2025 1Q2025

Provision for credit losses on loans $ 400 $ 518 $ 687 $ (118) $ (287)

Reversal of credit losses on off-balance sheet exposure 12 (55) 49 67 (37)

Provision for credit losses $ 412 $ 463 $ 736 $ (51) $ (324)

First Quarter 2026 vs. Fourth Quarter 2025

Provision for credit losses on loans decreased modestly by $118 thousand, primarily reflecting lower quantitative reserves driven by changes in portfolio conditions, partially offset by higher specific reserves related to increased nonaccrual CRE loans.

First Quarter 2026 vs. First Quarter 2025

Provision for credit losses on loans decreased by $287 thousand, primarily due to lower qualitative reserves resulting from shifts in portfolio characteristics, partially offset by the higher specific reserves associated with additional nonaccrual CRE loans.

Noninterest Income

($ in thousands) For the Three Months Ended % Change 1Q2026 vs.

1Q2026 4Q2025 1Q2025 4Q2025 1Q2025

Noninterest Income

Service charges on deposits $ 463 $ 462 $ 1,000 0 % (54) %

Loan servicing fees, net of amortization 722 650 1,007 11 (28)

Gains on sale of loans 2,050 1,573 2,019 30 2

Other income 797 733 790 9 1

Total noninterest income $ 4,032 $ 3,418 $ 4,816 18 % (16) %

First Quarter 2026 vs. Fourth Quarter 2025

Noninterest income increased by $614 thousand, or 18%, primarily driven by higher gains on sale of loans.

◦Gains on Sale of Loans: Increased by $477 thousand, driven by higher premium rates and stronger SBA loan sale activity. The Bank sold $32.2 million in SBA loans at an average premium rate of 8.27%, compared with $28.5 million sold at an average premium rate of 6.98% in the prior period.

First Quarter 2026 vs. First Quarter 2025

Noninterest income decreased by $784 thousand, or 16%, primarily due to lower service charges on deposits and reduced loan servicing fees.

◦Service Charges on Deposits: Decreased by $537 thousand, largely reflecting lower balances in existing business analysis accounts and closure of certain currency exchange-related accounts during the third quarter of 2025.

◦Loan Servicing Fees, net of amortization: Decreased by $285 thousand, mainly due to higher amortization of servicing assets, driven by elevated payoff activity within the servicing portfolio.

Noninterest Expense

($ in thousands) For the Three Months Ended % Change 1Q2026 vs.

1Q2026 4Q2025 1Q2025 4Q2025 1Q2025

Noninterest Expense

Salaries and employee benefits $ 9,276 $ 9,244 $ 8,776 0 % 6 %

Occupancy and equipment 1,811 1,919 1,581 (6) 15

Data processing and communication 411 591 296 (30) 39

Professional fees 399 549 407 (27) (2)

FDIC insurance and regulatory assessments 418 362 487 15 (14)

Promotion and advertising 120 (9) 156 NM (23)

Directors’ fees 144 148 180 (3) (20)

Foundation donation and other contributions 725 707 556 3 30

Other expenses 929 782 1,375 19 (32)

Total noninterest expense $ 14,233 $ 14,293 $ 13,814 0 % 3 %

NM — Not meaningful

First Quarter 2026 vs. Fourth Quarter 2025

Noninterest expense remained stable, with no meaningful change from the prior period.

First Quarter 2026 vs. First Quarter 2025

Noninterest expense increased by $419 thousand, or 3%, primarily due to higher salaries and employee benefits, and increased occupancy and equipment, partially offset by lower other expenses.

◦Salaries and Employee Benefits: Increased by $500 thousand, mainly driven by staffing growth, annual salary adjustments effective April 2025, and higher benefits costs, including health insurance. This increase was partially offset by lower incentive accruals.

◦Occupancy and equipment: Increased by $230 thousand, primarily due to the expiration of a common-area-maintenance concession on a lease that benefited the prior period.

◦Other expenses: Decreased by $446 thousand, primarily reflecting lower business development and credit-related expenses.

Income Tax Expense

First Quarter 2026 vs. Fourth Quarter 2025

Income tax expense increased by $189 thousand to $2.7 million, with the effective tax rate rising to 27.0% from 26.1%.

First Quarter 2026 vs. First Quarter 2025

Income tax expense increased by $552 thousand to $2.7 million, with the effective tax rate declining to 27.0% from 27.6%. The increase in income tax expense was primarily attributable to higher pre-tax income.

BALANCE SHEET HIGHLIGHTS

Loans

($ in thousands) As of % Change 1Q2026 vs.

1Q2026 4Q2025 1Q2025 4Q2025 1Q2025

CRE $ 1,173,366 $ 1,132,223 $ 1,023,278 4 % 15 %

SBA 284,182 264,523 258,778 7 10

C&I 219,367 221,270 202,250 (1) 8

Home mortgage 556,952 574,300 559,543 (3) 0

Consumer & other 392 1,353 36 (71) 989

Gross loans $ 2,234,259 $ 2,193,669 $ 2,043,885 2 % 9 %

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 1Q2026 vs.

1Q2026 4Q2025 1Q2025 4Q2025 1Q2025

Amount Rate Amount Rate Amount Rate

CRE $ 83,333 6.48 % $ 75,750 6.60 % $ 69,889 7.03 % 10 % 19 %

SBA

33,528 7.99 26,748 8.52 18,206 8.81 25 84

C&I 8,489 7.00 6,870 6.57 506 8.18 24 1578

Home mortgage 7,059 6.03 7,020 6.45 74,004 6.42 1 (90)

Consumer and other — — — — 40 6.05 — (100)

Gross loans (1)

$ 132,409 6.87 % $ 116,388 7.03 % $ 162,645 6.95 % 14 % (19) %

(1)Excludes changes in line utilization.

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

($ in thousands) For the Three Months Ended

1Q2026 4Q2025 1Q2025

Beginning Balance $ 2,193,669 $ 2,151,217 $ 1,956,852

Originations 132,409 116,388 162,645

Net change in line utilization 28,712 34,191 12,841

Purchases — 1,014 12,028

Sales (29,438) (28,549) (36,086)

Payoffs & paydowns (98,703) (82,365) (65,621)

Other 7,610 1,773 1,226

Total 40,590 42,452 87,033

Ending balance $ 2,234,259 $ 2,193,669 $ 2,043,885

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

1Q2026 4Q2025 1Q2025

% Rate % Rate % Rate

Fixed rate 29 % 5.70 % 31 % 5.65 % 33 % 5.53 %

Hybrid rate 40 6.00 40 5.93 37 5.71

Variable rate 31 6.86 29 7.22 30 7.86

Gross loans 100 % 6.18 % 100 % 6.22 % 100 % 6.29 %

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 March 31, 2026

Within One Year One Year Through Five Years After Five Years Total

Amount Rate Amount Rate Amount Rate Amount Rate

Fixed rate $ 183,123 5.72 % $ 282,353 6.26 % $ 182,259 4.82 % $ 647,735 5.70 %

Hybrid rate — — 189,039 4.94 712,525 6.28 901,564 6.00

Variable rate 108,892 7.00 197,491 6.78 378,577 6.87 684,960 6.86

Gross loans $ 292,015 6.20 % $ 668,883 6.04 % $ 1,273,361 6.25 % $ 2,234,259 6.18 %

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 1Q2026 vs.

1Q2026 4Q2025 1Q2025 4Q2025 1Q2025

Allowance for credit losses on loans, beginning $ 27,975 $ 27,299 $ 24,796 $ 676 $ 3,179

Provision for credit losses on loans

400 518 687 (118) (287)

Gross charge-offs (31) — (130) (31) 99

Gross recoveries 62 158 15 (96) 47

Net recoveries (charge-offs) 31 158 (115) (127) 146

Allowance for credit losses on loans, ending

$ 28,406 $ 27,975 $ 25,368 $ 431 $ 3,038

Allowance for credit losses on off-balance sheet exposure, beginning $ 274 $ 329 $ 360 $ (55) $ (86)

Provision for (reversal of) credit losses on off-balance sheet exposure

12 (55) 49 67 (37)

Allowance for credit losses on off-balance sheet exposure, ending

$ 286 $ 274 $ 409 $ 12 $ (123)

Asset Quality

($ in thousands) As of and For the Three Months Ended % or Basis Point Change 1Q2026 vs.

1Q2026 4Q2025 1Q2025 4Q2025 1Q2025

Accruing loans 30-89 days past due (1)

$ 9,311 $ 6,292 $ 6,452 48 % 44 %

As a % of gross loans 0.42 % 0.29 % 0.32 % 13 bps 10 bps

Nonperforming loans (2)

$ 18,297 $ 14,071 $ 10,412 30 % 76 %

Nonperforming assets (2)

18,297 14,071 11,649 30 57

Nonperforming loans to gross loans 0.82 % 0.64 % 0.51 % 18 bps 31 bps

Nonperforming assets to total assets 0.68 0.53 0.46 15 bps 22 bps

Criticized loans (3)(4)

$ 33,235 $ 32,060 $ 23,055 3.7 % 44.2 %

Criticized loans to gross loans 1.49 % 1.46 % 1.13 % 3 bps 36 bps

Allowance for credit losses ratios:

As a % of gross loans 1.27 % 1.28 % 1.24 % (1) bps 3 bps

As a % of nonperforming loans 155 199 244 (44) % (89) %

As a % of nonperforming assets 155 199 218 (44) (63)

As a % of criticized loans 85 87 110 (2) (25)

Net (recoveries) charge-offs (5) to average gross loans

(0.01) (0.03) 0.02 2 bps (3) bps

(1)Excludes the guaranteed portion of loans totaling $947 thousand and $3.2 million as of March 31, 2026 and December 31, 2025, respectively. There were no guaranteed portion as of March 31, 2025.

(2)Excludes the guaranteed portion of loans totaling $30.8 million, $20.9 million and $14.3 million as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

(3)Excludes the guaranteed portion of loans totaling $35.9 million, $27.3 million and $17.2 million as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

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

(5)Annualized.

Credit quality remained manageable during the period. The increase in nonperforming loans was primarily driven by a single isolated relationship, while overall credit performance continued to be stable. The allowance for credit losses on loans remained adequate at 1.27% of gross loans.

◦Accruing loans 30-89 days past-due increased by $3.0 million, primarily driven by $6.8 million inflows into this category, mainly SBA loans. This increase was partially offset by $2.3 million of SBA loans moving to nonaccrual status and $1.5 million returning to the 29-days-or-less past-due category.

◦Nonperforming loans increased by $4.2 million, primarily driven by a single $4.1 million CRE relationship that migrated to nonaccrual. This loan is currently in active resolution and is expected to be fully paid off by the second quarter of 2026.

◦Criticized loans increased by $1.2 million, primarily attributable to $2.9 million in loan downgrades. This increase was partially offset by an $872 thousand SBA note sale and $589 thousand in home mortgage loan payoffs.

Deposits

($ in thousands) As of % Change 1Q2026 vs.

1Q2026 4Q2025 1Q2025

Amount % Amount % Amount % 4Q2025 1Q2025

Noninterest-bearing deposits $ 546,550 24 % $ 520,865 23 % $ 552,797 25 % 5 % (1) %

Money market deposits and others 398,756 17 388,066 17 385,080 18 3 4

Time deposits 1,381,988 59 1,371,616 60 1,251,994 57 1 10

Total deposits $ 2,327,294 100 % $ 2,280,547 100 % $ 2,189,871 100 % 2 % 6 %

Estimated uninsured deposits $ 1,154,625 50 % $ 1,093,843 48 % $ 1,072,753 49 % 6 % 8 %

As of March 31, 2026 vs. December 31, 2025

Total deposits increased by $46.7 million or 2%, reflecting growth across all major deposit categories. The growth in noninterest-bearing deposits reflects both new account openings and higher balances from existing customers. The increase in money market deposits and others was primarily due to higher balances from existing customers. Time deposit growth was largely attributable to new retail customers opening accounts, partially offset by a decline in wholesale CD balances.

As of March 31, 2026 vs. March 31, 2025

Total deposits increased by $137.4 million or 6%, primarily driven by growth of $130.0 million in time deposits. The increase in time deposits was largely due to new customers opening CD accounts, reflecting a preference for higher-yielding products.

The following table sets forth the maturity of time deposits as of March 31, 2026:

As of March 31, 2026

($ 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) $ 159,075 $ 286,942 $ 157,995 $ 138,438 $ 703 $ 743,153

Time deposits ($250 or less) 303,647 159,114 99,555 74,733 1,786 638,835

Total time deposits $ 462,722 $ 446,056 $ 257,550 $ 213,171 $ 2,489 $ 1,381,988

Weighted average rate 3.99 % 3.92 % 4.01 % 3.78 % 1.86 % 3.94 %

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, including the Federal Reserve. The following table presents the Company's liquid assets and available borrowings as of dates presented:

($ in thousands) 1Q2026 4Q2025 1Q2025

Liquidity Assets:

Cash and cash equivalents $ 160,260 $ 167,311 $ 198,861

Available-for-sale ("AFS") debt securities 209,006 192,785 182,480

Liquid assets $ 369,266 $ 360,096 $ 381,341

Liquid assets to total assets 14 % 14 % 15 %

Available Borrowings:

Federal Home Loan Bank ("FHLB") —San Francisco $ 417,723 $ 443,629 $ 381,456

Federal Reserve Bank 204,140 208,859 217,563

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 $ 721,863 $ 752,488 $ 699,019

Total available borrowings to total assets 27 % 28 % 28 %

Liquid assets and available borrowings to total deposits 47 % 49 % 49 %

Capital and Capital Ratios

On April 23, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.14 per share, representing a 17% increase from the prior quarterly dividend of $0.12 per share, on its common stock. The dividend is payable on or about May 21, 2026, to shareholders of record as of the close of business on May 7, 2026. The principal source of funds from which the Company pays dividends are the dividends received from the Bank. During the first quarter of 2026, no shares were repurchased under the repurchase program approved in August 2025.

OP Bancorp(1)

Open Bank Well-

Capitalized

Requirement

Minimum

Capital Ratio+

Conservation

Buffer(2)

Risk-Based Capital Ratios (3):

Total capital 13.17 % 13.18 % 10.00 % 10.50 %

Tier 1 capital 10.82 11.93 8.00 8.50

CET1 capital 10.82 11.93 6.50 7.00

Tier 1 leverage 9.07 10.00 5.00 4.00

(1)The capital requirements are only applicable to the Bank. The Company's ratios are included solely 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 March 31, 2026 regulatory capital ratios and risk-weighted assets are preliminary.

OP Bancorp % or Basis Point Change 1Q2026 vs.

1Q2026 4Q2025 1Q2025 4Q2025 1Q2025

Risk-Based Capital Ratios:

Total capital 13.17 %

(1)

13.31 % 12.22 % (14) bps 95 bps

Tier 1 capital 10.82

(1)

10.93 10.97 (11) bps (15) bps

CET1 capital 10.82

(1)

10.93 10.97 (11) bps (15) bps

Tier 1 leverage 9.07

(1)

8.99 9.22 8 bps (15) bps

Risk-weighted Assets ($ in thousands) $ 2,245,233

(1)

$ 2,174,801 $ 2,034,969 3 % 10 %

(1)The Company’s March 31, 2026 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 operates 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, serving small- and medium-sized businesses, professionals, and local residents with a particular focus on Korean and other Asian 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 I, Item 1A, of our Annual Report on Form 10-K for the period ended December 31, 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 1Q2026 vs.

1Q2026 4Q2025 1Q2025 4Q2025 1Q2025

Assets

Cash and due from banks $ 12,842 $ 10,911 $ 12,575 18 % 2 %

Interest-bearing deposits with banks 147,418 156,400 186,286 (6) (21)

Cash and cash equivalents 160,260 167,311 198,861 (4) (19)

AFS debt securities, at fair value 209,006 192,785 182,480 8 15

Other investments 17,213 17,208 16,517 0 4

Loans held-for-sale 9,498 11,443 4,555 (17) 109

CRE 1,173,366 1,132,223 1,023,278 4 15

SBA 284,182 264,523 258,778 7 10

C&I 219,367 221,270 202,250 (1) 8

Home mortgage 556,952 574,300 559,543 (3) 0

Consumer and other 392 1,353 36 (71) NM

Gross loans 2,234,259 2,193,669 2,043,885 2 9

Allowance for credit losses on loans (28,406) (27,975) (25,368) 2 12

Net loans 2,205,853 2,165,694 2,018,517 2 9

Premises and equipment, net 5,516 5,744 6,526 (4) (15)

Accrued interest receivable 10,683 10,482 9,871 2 8

Servicing assets 9,834 10,057 10,848 (2) (9)

Company owned life insurance 23,794 23,616 23,084 1 3

Deferred tax assets, net 12,417 12,438 13,183 0 (6)

Other real estate owned ("OREO") — — 1,237 — (100)

Operating right-of-use assets 8,253 8,804 6,930 (6) 19

Other assets 26,300 24,644 20,362 7 29

Total assets $ 2,698,627 $ 2,650,226 $ 2,512,971 2 % 7 %

Liabilities and Shareholders' Equity

Liabilities:

Noninterest-bearing $ 546,550 $ 520,865 $ 552,797 5 % (1) %

Money market and others 398,756 388,066 385,080 3 4

Time deposits greater than $250 743,153 683,956 610,783 9 22

Other time deposits 638,835 687,660 641,211 (7) 0

Total deposits 2,327,294 2,280,547 2,189,871 2 6

FHLB advances 75,000 75,000 75,000 — —

Subordinated note 24,607 24,586 — 0 NM

Accrued interest payable 15,181 14,595 14,994 4 1

Operating lease liabilities 10,508 11,175 9,193 (6) 14

Other liabilities 13,326 16,430 13,824 (19) (4)

Total liabilities 2,465,916 2,422,333 2,302,882 2 7

Shareholders' equity:

Common stock 73,018 73,018 73,697 — (1)

Additional paid-in capital 11,995 11,849 11,371 1 5

Retained earnings 158,730 153,283 138,563 4 15

Accumulated other comprehensive loss, net of tax (11,032) (10,257) (13,542) 8 (19)

Total shareholders’ equity 232,711 227,893 210,089 2 11

Total liabilities and shareholders' equity $ 2,698,627 $ 2,650,226 $ 2,512,971 2 % 7 %

Shares of common stock outstanding, at period-end 14,894,239 14,889,540 14,914,261 0 % 0 %

Book value per share $ 15.62 $ 15.31 $ 14.09 2 % 11 %

Stockholders' equity to asset ratio 8.62 % 8.60 % 8.36 % 0 % 3 %

NM — Not meaningful

CONSOLIDATED STATEMENTS OF INCOME (unaudited)

($ in thousands, except share and per share data) For the Three Months Ended % or Basis Point Change 1Q2026 vs.

1Q2026 4Q2025 1Q2025 4Q2025 1Q2025

Interest income

Interest and fees on loans $ 34,879 $ 35,921 $ 31,689 (3) % 10 %

Interest on AFS debt securities 1,761 1,680 1,496 5 18

Other interest income 1,897 1,681 1,674 13 13

Total interest income 38,537 39,282 34,859 (2) 11

Interest expense

Interest on deposits 16,845 17,324 16,608 (3) 1

Interest on borrowings 679 817 833 (17) (18)

Interest on subordinated note 490 278 — 76 100

Total interest expense 18,014 18,419 17,441 (2) 3

Net interest income 20,523 20,863 17,418 (2) 18

Provision for credit losses 412 463 736 (11) (44)

Net interest income after provision for credit losses 20,111 20,400 16,682 (1) 21

Noninterest income

Service charges on deposits 463 462 1,000 0 (54)

Loan servicing fees, net of amortization 722 650 1,007 11 (28)

Gains on sale of loans 2,050 1,573 2,019 30 2

Other income 797 733 790 9 1

Total noninterest income 4,032 3,418 4,816 18 (16)

Noninterest expense

Salaries and employee benefits 9,276 9,244 8,776 0 6

Occupancy and equipment 1,811 1,919 1,581 (6) 15

Data processing and communication 411 591 296 (30) 39

Professional fees 399 549 407 (27) (2)

FDIC insurance and regulatory assessments 418 362 487 15 (14)

Promotion and advertising 120 (9) 156 NM (23)

Directors’ fees 144 148 180 (3) (20)

Foundation donation and other contributions 725 707 556 3 30

Other expenses 929 782 1,375 19 (32)

Total noninterest expense 14,233 14,293 13,814 0 3

Income before income tax expense 9,910 9,525 7,684 4 29

Income tax expense 2,676 2,487 2,124 8 26

Net income $ 7,234 $ 7,038 $ 5,560 3 % 30 %

EPS - basic 0.49 0.47 0.37 2 bps 12 bps

EPS - diluted 0.48 0.47 0.37 1 bps 11 bps

Weighted average shares:

- Basic 14,890,929 14,886,681 14,857,234 0 % 0 %

- Diluted 14,930,173 14,915,677 14,857,234 0 0

ROAA (1)

1.08 % 1.07 % 0.92 % 1 bps 16 bps

ROAE (1)

12.56 12.53 10.73 3 bps 183 bps

Efficiency ratio (2)

57.97 58.87 62.13 (90) bps (416) bps

NM — Not meaningful

(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

1Q2026 4Q2025 1Q2025

Nonaccrual loans (1)(2)

$ 18,297 $ 14,071 $ 10,412

Loans 90 days or more past due, accruing — — —

Nonperforming loans 18,297 14,071 10,412

OREO — — 1,237

Nonperforming assets $ 18,297 $ 14,071 $ 11,649

Criticized loans (3) by risk categories:

Special mention loans $ 10,141 $ 10,885 $ 7,190

Classified loans (4)

23,094 21,175 15,865

Total criticized loans $ 33,235 $ 32,060 $ 23,055

Nonperforming loans to gross loans 0.82 % 0.64 % 0.51 %

Nonperforming assets to gross loans & OREO 0.82 0.64 0.57

Nonperforming assets to total assets 0.68 0.53 0.46

Classified loans to gross loans 1.03 0.97 0.78

Criticized loans to gross loans 1.49 1.46 1.13

Allowance for credit losses ratios:

As a % of gross loans 1.27 % 1.28 % 1.24 %

As a % of nonperforming loans 155 199 244

As a % of nonperforming assets 155 199 218

As a % of classified loans 123 132 160

As a % of criticized loans 85 87 110

Net (recoveries) charge-offs $ (31) $ (158) $ 115

Net (recoveries) charge-offs (5) to average gross loans

(0.01) % (0.03) % 0.02 %

(1)Excludes loans held-for-sale.

(2)Excludes the guaranteed portion of loans totaling $30.8 million, $20.9 million and $14.3 million as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

(3)Excludes the guaranteed portion of loans totaling $35.9 million, $27.3 million and $17.2 million as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

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

(5)Annualized.

($ in thousands) 1Q2026 4Q2025 1Q2025

Accruing delinquent loans 30-89 days past due by loan type (1) :

CRE $ — $ — $ —

SBA 5,374 2,562 2,483

C&I 9 — —

Home mortgage 3,911 557 3,969

Total 30-59 days 9,294 3,119 6,452

CRE — — —

SBA — 1,168 —

C&I 17 — —

Home mortgage — 2,005 —

Total 60-89 days 17 3,173 —

CRE — — —

SBA 5,374 3,730 2,483

C&I 26 — —

Home mortgage 3,911 2,562 3,969

Total accruing delinquent loans 30-89 days past due $ 9,311 $ 6,292 $ 6,452

Nonaccrual loans (2) by loan type:

CRE $ 7,307 $ 3,424 $ 1,937

SBA 10,597 9,840 6,371

C&I 393 218 —

Home mortgage — 589 2,104

Total nonaccrual $ 18,297 $ 14,071 $ 10,412

Criticized loans(3) by loan type:

CRE $ 10,057 $ 10,364 $ 8,988

SBA 20,016 18,218 11,574

C&I 1,620 1,338 389

Home mortgage 1,542 2,140 2,104

Total criticized $ 33,235 $ 32,060 $ 23,055

(1)Excludes the guaranteed portion of loans totaling $947 thousand and $3.2 million as of March 31, 2026 and December 31, 2025, respectively. There was no guaranteed portion as of March 31, 2025.

(2)Excludes the guaranteed portion of loans that were in liquidation totaling $30.8 million, $20.9 million and $14.3 million as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

(3)Excludes the guaranteed portion of loans that were in liquidation totaling $35.9 million, $27.3 million and $17.2 million as of March 31, 2026, December 31, 2025 and March 31, 2025, respectively.

AVERAGE BALANCE SHEET, INTEREST AND YIELD/RATE ANALYSIS

For the Three Months Ended

1Q2026 4Q2025 1Q2025

($ 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 $ 145,013 $ 1,326 3.66 % $ 135,883 $ 1,360 3.92 % $ 124,069 $ 1,372 4.42 %

Other investments 17,232 571 13.24 17,186 321 7.46 16,469 302 7.33

AFS debt securities, at fair value 205,247 1,761 3.43 198,335 1,680 3.39 184,649 1,496 3.24

CRE 1,154,515 17,814 6.26 1,119,031 17,616 6.25 1,000,426 14,980 6.07

SBA 292,821 5,980 8.28 282,501 6,557 9.21 265,953 6,207 9.47

C&I 212,941 3,552 6.77 220,274 3,846 6.93 212,106 3,778 7.22

Home mortgage 565,185 7,508 5.31 581,824 7,889 5.42 526,326 6,718 5.11

Consumer and other 1,287 25 7.99 602 13 8.75 233 6 9.75

Loans (2)

2,226,749 34,879 6.33 2,204,232 35,921 6.48 2,005,044 31,689 6.39

Total interest-earning assets 2,594,241 38,537 6.00 2,555,636 39,282 6.11 2,330,231 34,859 6.04

Noninterest-earning assets 76,830 79,743 77,823

Total assets $ 2,671,071 $ 2,635,379 $ 2,408,054

Interest-bearing liabilities:

Money market deposits and others $ 393,242 $ 3,009 3.10 % $ 389,958 $ 3,241 3.30 % $ 353,804 $ 3,085 3.54 %

Time deposits 1,390,491 13,836 4.04 1,342,337 14,083 4.16 1,208,032 13,523 4.54

Total interest-bearing deposits 1,783,733 16,845 3.83 1,732,295 17,324 3.97 1,561,836 16,608 4.31

Borrowings 75,834 679 3.63 86,905 817 3.73 78,944 833 4.28

Subordinated note 24,600 490 7.97 13,896 278 7.99 — — —

Total interest-bearing liabilities 1,884,167 18,014 3.88 1,833,096 18,419 3.99 1,640,780 17,441 4.31

Noninterest-bearing liabilities:

Noninterest-bearing deposits 516,722 532,695 522,054

Other noninterest-bearing liabilities 39,756 44,985 38,014

Total noninterest-bearing liabilities 556,478 577,680 560,068

Shareholders’ equity 230,426 224,603 207,206

Total liabilities and shareholders’ equity $ 2,671,071 $ 2,635,379 $ 2,408,054

Net interest income / interest rate spreads $ 20,523 2.12 % $ 20,863 2.12 % $ 17,418 1.73 %

Net interest margin 3.19 % 3.25 % 3.01 %

Cost of deposits & cost of funds:

Total deposits / cost of deposits $ 2,300,455 $ 16,845 2.97 % $ 2,264,990 $ 17,324 3.03 % $ 2,083,890 $ 16,608 3.23 %

Total funding liabilities / cost of funds 2,400,889 18,014 3.04 2,365,791 18,419 3.09 2,162,834 17,441 3.27

(1)Annualized.

(2)Includes loans held-for-sale.

EX-99.2

Filename: opbk8-kerx2026xq1xex992.htm · Sequence: 3

Document

Exhibit 99.2

OP Bancorp Declares Quarterly Cash Dividend of $0.14 per Share

LOS ANGELES, April 23, 2026 — 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 $0.14 per share, representing a 17% increase from the prior quarterly dividend of $0.12 per share, on its common stock. The dividend is payable on or about May 21, 2026 to shareholders of record as of the close of business on May 7, 2026.

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 operates 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, serving small- and medium-sized businesses, professionals, and local residents with a particular focus on Korean and other Asian 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

Filename: exhibit993earningspresen.htm · Sequence: 4

exhibit993earningspresen

First Quarter 2026 Earnings Presentation April 23, 2026

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 I, Item 1A, of our Annual Report on Form 10-K for the period ended December 31, 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

1Q-2026 Highlights vs 4Q-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 $7.2M Earnings & Profitability Balance Sheet Growth Credit Quality Capital Adequacy • Net income of $7.2 million, compared to $7.0 million • Diluted earnings per share of $0.48, compared to $0.47 • ROA(1) and ROE(1) of 1.08% and 12.56%, compared to 1.07% and 12.53%, respectively • Net interest margin of 3.19%, compared to 3.25% • Efficiency ratio of 57.97%, compared to 58.87% • Total assets of $2.70 billion, a 2% increase compared to $2.65 billion • Gross loans of $2.23 billion, a 2% increase compared to $2.19 billion • Total deposits of $2.33 billion, a 2% increase compared to $2.28 billion • Net (charge-offs) (1) to average gross loans of (0.01)%, compared to (0.03)% • Nonperforming loans (2) to gross loans of 0.82%, compared to 0.64%. • Criticized loans(2)(3) to gross loans of 1.49%, compared to 1.46% • Remained well-capitalized with a Common Equity Tier 1 (“CET1”) ratio of 10.82% • Book value per common share increased to $15.62, compared to $15.31 • Paid quarterly cash dividend of $0.14 per share, a 17% increase from the prior dividend of $0.12 per share Diluted EPS $0.48 ROA (1) 1.08% ROE (1) 12.56% NIM 3.19% Efficiency 57.97%

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 March 31, 2026 ($1.37 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 March 31, 2026 ($557 million)

SBA Loans 10 SBA Portfolio by IndustrySBA Portfolio by Location March 31, 2026 ($284 million)

* Excludes $23.5 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

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v3.26.1

Cover

Apr. 23, 2026

Cover [Abstract]

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8-K

Document Period End Date

Apr. 23, 2026

Entity Registrant Name

OP BANCORP

Entity Incorporation, State or Country Code

Entity File Number

001-38437

Entity Tax Identification Number

81-3114676

Entity Address, Address Line One

1000 Wilshire Blvd

Entity Address, Address Line Two

Suite 500

Entity Address, City or Town

Los Angeles

Entity Address, State or Province

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90017

City Area Code

213

Local Phone Number

892-9999

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Title of 12(b) Security

Common Stock, No Par Value

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OPBK

Security Exchange Name

NASDAQ

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