secwatch.observer — SEC 8-K summary
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Issuer:     OP Bancorp (OPBK)
CIK:        0001722010
Form:       8-K
Filed at:   2023-04-27T23:59:59+00:00
Accession:  0001628280-23-013650
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OP Bancorp Q1 net income $7.5M ($0.48 EPS); dividend raised 20% to $0.12
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- Net income $7.5M ($0.48 diluted EPS) vs $8.2M ($0.53) in Q1 2022, down 7.6%.
- Net interest margin narrowed to 3.56% from 4.12%; net interest income $17.9M vs $17.3M.
- Board declared $0.12 quarterly dividend (20% increase from $0.10), payable May 25 to holders of record May 11.
- Nonperforming loans rose to $4.36M (0.26% of loans) from $2.81M (0.20%) a year ago.
- Adopted CECL on Jan 1, adding $2.1M to allowance; reversed $338K credit losses vs $341K provision in Q1 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1722010/000162828023013650/0001628280-23-013650-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1722010/000162828023013650/opbk-20230427.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-013650

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