OP Bancorp, the holding company for Open Bank, reported preliminary unaudited financial results for the third quarter ended September 30, 2026. The company announced net income of $7.8 million for the quarter, compared to $8.0 million in the second quarter of 2026 and $6.7 million in the third quarter of 2025. Diluted earnings per share (EPS) were reported at $0.52 for the third quarter of 2026, down from $0.53 in the prior quarter and $0.45 in the same period last year.
Net interest income increased to $22.2 million for the third quarter, representing an 11% increase from the prior quarter and a 9% increase compared to the third quarter of 2025. This growth was attributed to continued loan growth and the normalization of Federal Reserve Bank account income. As a result, the net interest margin expanded by 19 basis points to 3.27%.
Balance sheet metrics showed continued growth, with average loans increasing by 4% to $2.33 billion and average deposits increasing by 4% to $2.41 billion. The company sold $51.1 million in SBA loans during the quarter at an average premium rate of 8.06%. Total noninterest income decreased by 6% to $5.3 million, primarily due to lower gains on the sale of loans and other income.
Noninterest expense increased by 5% to $15.5 million, driven by higher professional fees. The provision for credit losses on loans was $1.6 million for the quarter, reflecting higher general reserve requirements associated with loan growth and changes in criticized loans.
On October 22, 2026, OP Bancorp’s Board of Directors declared a quarterly cash dividend of $0.14 per share on its common stock. The dividend is payable on November 19, 2026, to shareholders of record as of November 5, 2026.
