secwatch.observer — SEC 8-K summary
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Issuer:     OP Bancorp (OPBK)
CIK:        0001722010
Form:       8-K
Filed at:   2023-10-27T23:59:59+00:00
Accession:  0001628280-23-035339
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

OP Bancorp Q3 net income $5.1M ($0.33 EPS), down 41% YoY; NIM narrows to 3.38%
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- Net income $5.1M, diluted EPS $0.33 vs $6.1M ($0.39) in Q2'23 and $8.7M ($0.55) in Q3'22.
- Net interest margin 3.38% vs 3.40% QoQ and 4.31% YoY; provision for credit losses $1.4M vs $0 in Q2.
- Nonperforming loans to gross loans 0.24% (up from 0.20% QoQ); criticized loans to gross loans 0.78% (up from 0.44% QoQ).
- Book value per share $12.17; CET1 ratio 12.09%; announced share repurchase of up to 750,000 shares.
- Quarterly dividend maintained at $0.12 per share, payable Nov 23 to record Nov 9.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1722010/000162828023035339/0001628280-23-035339-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1722010/000162828023035339/opbk-20231026.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-035339

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