OP Bancorp (OPBK) investor relations material

Executive summary

• Net income for Q1 2026 was $7.2 million, up 3% sequentially and 30% year-over-year, with diluted EPS of $0.48, driven by higher net interest income, improved efficiency, and revenue growth.

• Total assets reached $2.70 billion, a 2% increase from December 31, 2025, primarily due to loan growth.

• Book value per share climbed to $15.62, and a quarterly dividend of $0.14 per share was paid, up 17%.

• Deposit base expanded 2% to $2.33 billion, with growth across all major categories.

• Loan portfolio growth was led by commercial real estate and SBA loans, while home mortgage balances declined.

Financial highlights

• Net interest income was $20.5 million, up 18% year-over-year, with a net interest margin of 3.19%, down 6 bps sequentially but up 18 bps year-over-year.

• Noninterest income totaled $4.0 million, up 18% sequentially but down 16% year-over-year due to lower service charges and loan servicing fees.

• Noninterest expense was $14.2 million, stable sequentially and up 3% year-over-year, mainly from higher salaries and occupancy costs.

• Efficiency ratio improved to 57.97% from 58.87% in Q4 2025 and 62.13% in Q1 2025.

• Provision for credit losses decreased both sequentially and year-over-year, to $0.4 million.

Outlook and guidance

• Management expects continued sustainable growth, supported by a solid capital base and disciplined balance sheet management.

• Forward-looking statements caution about risks and uncertainties, including interest rate volatility, inflation, and geopolitical risks.

• Recent SBA eligibility changes may impact future SBA loan originations.