OP Bancorp (OPBK): debt financing — OP Bancorp closes $25M 7.50% fixed-to-floating subordinated note due 2035

OP Bancorp

$25M principal, maturity Nov 15, 2035; fixed 7.50% for 5 years then SOFR+411bps.
Proceeds to strengthen Open Bank's regulatory capital and support growth.
Note qualifies as Tier 2 capital; redeemable after Nov 15, 2030 subject to regulatory approval.
Raymond James & Associates acted as sole placement agent.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

OP Bancorp incurred debt of $25 million at 7.50% per annum fixed from issuance to November 15, 2030, then floating at 3-mon maturing November 15, 2035.

Principal: $25 million
Rate: 7.50% per annum fixed from issuance to November 15, 2030, then floating at 3-mon
Maturity: November 15, 2035
Event: incurrence

Exact text from the filing

On November 7, 2025, OP Bancorp (the “Company”), the parent company of Open Bank (the “Bank”), completed a private placement of $25 million principal amount of fixed-to-floating rate subordinated note due 2035 (the “Note”) pursuant to a subordinated note purchase agreement in a private placement (the “Agreement”).

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Source: SEC EDGAR

accession 0001722010-25-000016

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