secwatch.observer — SEC 8-K summary
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Issuer:     OP Bancorp (OPBK)
CIK:        0001722010
Form:       8-K
Filed at:   2024-01-25T23:59:59+00:00
Accession:  0001628280-24-002244
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1722010/000162828024002244/0001628280-24-002244-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1722010/000162828024002244/opbk-20240125.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-002244

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