secwatch.observer — SEC 8-K summary
======================================

Issuer:     OP Bancorp (OPBK)
CIK:        0001722010
Form:       8-K
Filed at:   2025-01-23T23:59:59+00:00
Accession:  0001628280-25-002390
Event type: earnings
Sentiment:  negative
Materiality: 0.65
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1722010/000162828025002390/0001628280-25-002390-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1722010/000162828025002390/opbk-20250123.htm
  HTML page:      https://secwatch.observer/filing/0001628280-25-002390

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer