OP Bancorp Q4 net income $5.0M ($0.33 EPS), down 8.6% QoQ; NPL ratio rises to 0.40%

OP Bancorp

2024-FY EPS reported $1.39 revenue$3,261,000

Net income $5.0M, diluted EPS $0.33 vs $0.36 Q3 2024 and $0.34 a year ago; net interest margin 2.96%.
Provision for credit losses surged to $1.5M from $448K Q3, driven by higher qualitative and specific reserves.
Nonperforming loans doubled to $7.8M (0.40% of loans) from $3.6M (0.19%) Q3; criticized loans at 1.00%.
Total deposits $2.03B, down 1.8% QoQ; noninterest-bearing deposits fell 10.1% to $505M.
Quarterly dividend maintained at $0.12/share; book value per share $13.83.

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