OP Bancorp Q2 net income $5.4M, EPS $0.36; NIM down to 2.96%; loan growth 3.6%

OP Bancorp

2024-Q2 EPS reported $0.70 revenue$1,405,000

Net income $5.4M, diluted EPS $0.36, up 4% and 5.9% QoQ but down 10.8% and 7.7% YoY.
Net interest margin 2.96% vs 3.06% prior quarter, down 10 bps QoQ and 44 bps YoY.
Gross loans $1.87B (+3.6% QoQ); total deposits $1.94B (+2.4% QoQ).
Criticized loans 0.88% of gross loans vs 0.64% prior quarter; NPLs remain low at 0.23%.
Quarterly dividend of $0.12 per share declared, payable Aug 22, record Aug 8, 2024.

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