OP Bancorp Q4 net income $5.2M, EPS $0.34; NIM narrows to 3.12%; NPLs rise to 0.34%

OP Bancorp

2023-FY EPS reported $1.55 revenue$2,123,000

Net income $5.2M ($0.34 diluted EPS) vs $5.1M ($0.33) Q3 and $8.0M ($0.51) Q4'22.
Net interest margin 3.12%, down 26 bps QoQ and 96 bps YoY; interest expense rose 12.1% QoQ to $15.6M.
Nonperforming loans $6.1M (0.34% of loans) vs $4.2M (0.24%) Q3; allowance for credit losses at 1.25%.
Book value per share $12.84 (+5.5% QoQ); CET1 ratio 12.52%; declared $0.12/sh dividend, repurchased 150k shares at $8.72 avg.

item 2.02 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 fourth quarter ended December 31, 2023 results: net income $5.2 million, EPS $0.34 per diluted common share.

Period: fourth quarter ended December 31, 2023
Net income: $5.2 million
EPS: $0.34 per diluted common share
Result: preliminary results

Exact text from the filing

OP Bancorp, (the “Company”), the holding company of Open Bank, issued a press release announcing preliminary unaudited results for the fourth quarter ended December 31, 2023.

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Source: SEC EDGAR

accession 0001628280-24-002244

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