OP Bancorp Q4 2022 net income $8.0M ($0.51 EPS); dividend raised 20% to $0.12/share

OP Bancorp

2022-FY EPS reported $2.14 revenue$1,675,000

Net income $8.0M, diluted EPS $0.51, vs $9.1M, $0.59 in Q4 2021; net interest income up 18% to $20.2M.
Total loans $1.7B (+23% YoY); total deposits $1.9B (+23% YoY); noninterest-bearing deposits 37.2% of total.
Credit quality: nonperforming loans 0.18% of gross loans; allowance/loans 1.13%; net charge-offs 0.03% annualized.
CET1 ratio 11.70%; book value $11.59 per share, up 6% YoY.
Quarterly cash dividend declared $0.12 per share, a 20% increase from prior $0.10, payable Feb 23.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

OP Bancorp reported the fourth quarter ended December 31, 2022 results: net income $8.0 million, EPS $0.51 per diluted common share.

Period: the fourth quarter ended December 31, 2022
Net income: $8.0 million
EPS: $0.51 per diluted common share
Result: preliminary results

Exact text from the filing

LOS ANGELES, January 26, 2023 — OP Bancorp (the “Company”) (NASDAQ: OPBK), the holding company of Open Bank, today reported its financial results for the fourth quarter of 2022. Net income for the fourth quarter of 2022 was $8.0 million, or $0.51 per diluted common share, compared with $8.7 million, or $0.55 per diluted common share, for the third quarter of 2022, and $9.1 million, or $0.59 per diluted common share, for the fourth quarter of 2021.

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Source: SEC EDGAR

accession 0001628280-23-001615

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