Open Bank
Open Bank (OP Bancorp, NASDAQ: OPBK) is a Los Angeles-based commercial bank operating 12 full-service branches and 5 loan production offices across CA, TX, NV, WA, CO, GA, and VA, serving Korean-American and other ethnic minority small businesses, professionals, and residents with CRE, SBA, C&I, mortgage, and deposit products.
- Company typePublic
- Founded2005
- HeadquartersLos Angeles, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Open Bank does
Open Bank, operating as the wholly-owned banking subsidiary of OP Bancorp (NASDAQ: OPBK), is a California-chartered commercial bank founded in 2005 and headquartered in Los Angeles. The bank provides general commercial banking services — including commercial real estate (CRE) loans, SBA loans, commercial and industrial (C&I) loans, home mortgages, and deposit products — through twelve full-service branches concentrated in Korean-American population centers across California (Los Angeles Downtown/Fashion District/Koreatown, Cerritos, Gardena, Buena Park, Garden Grove, Santa Clara), Texas (Carrollton in the Dallas metro), and Nevada (Las Vegas), plus five loan production offices extending SBA and CRE origination into Pleasanton CA, Atlanta GA, Aurora CO, Lynnwood WA, and Fairfax VA. Its target customers are small- and medium-sized businesses, professionals, and residents, with a deliberate emphasis on Korean and other Asian-American communities served through Korean-language banking, cultural alignment, and community-based relationship banking.
The bank's revenue model is that of a traditional spread-lending depository institution. As of Q1 2026 it reported a $2.2B loan portfolio generating $34.9M in quarterly interest income at a 6.33% average loan yield, a 3.19% net interest margin, and $2.05M in gains on the sale of $32.2M of SBA loans in the secondary market at an 8.27% premium. Total deposits stood at $2.3B and total assets at $2.7B. The bank funds itself through core deposits plus correspondent and wholesale capacity from the FHLB San Francisco ($417.7M available), Federal Reserve discount window ($204.1M), Pacific Coast Bankers Bank ($50M), Zions Bank ($25M), and First Horizon Bank ($25M). Capital is robust at a 10.82% CET1 ratio, supplemented by $25M of newly issued Tier 2 subordinated notes due 2035. The technology stack is a standard commercial banking platform with an SBA lending origination/sales workflow as the principal proprietary feature; the bank has no mobile app, no public APIs, and no disclosed AI or machine-learning capabilities.
Q1 2026 net income of $7.2M represented 30% year-over-year growth, book value per share rose 11% to $15.62, and the quarterly dividend was increased 17% to $0.14 per share, alongside a Board-authorized buyback of up to 700,000 shares. Leadership consists of a founding CEO (Sang K. Oh) with a recently extended four-year term, a newly appointed COO (Christine Oh), a CFO (Jaehyun Park), and a Chief Credit Officer function established in late 2024.
Open Bank firmographics
Firmographics- Name
- Open Bank
- Legal name
- OP Bancorp
- Website
- https://opbancorp.q4ir.com
- Company type
- Public
- Founded year
- 2005
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Open Bank (OP Bancorp, NASDAQ: OPBK) is a Los Angeles-based commercial bank operating 12 full-service branches and 5 loan production offices across CA, TX, NV, WA, CO, GA, and VA, serving Korean-American and other ethnic minority small businesses, professionals, and residents with CRE, SBA, C&I, mortgage, and deposit products.
- Ownership category
- akta.pro rank
Open Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Commercial Banking (52211), Depository Credit Intermediation (5221)
- SIC
- State Commercial Banks (6022)
- akta.pro primary industry
- General SME & Middle-Market Commercial Banking (FSABABAA)
- akta.pro secondary industries
- SME Commercial Real Estate (CRE) Lending (FSABABAG), SBA/Government-Backed & Development Finance Loans (FSAKAGAI), SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)
Keywords
Where Open Bank is headquartered
LocationHeadquarters
- HQ city
- Los Angeles
- HQ country
- United States
- HQ region
- North America
Offices14 records
Markets served
Open Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- Net Interest Income: Primary revenue driver from interest-earning assets including commercial real estate loans, SBA loans, commercial and industrial loans, and home mortgages. Interest income from loans represented $34.9 million in Q1 2026 from a $2.2 billion loan portfolio. Net interest margin was 3.19% in Q1 2026.
- Non-interest Income: Secondary revenue from service charges on deposits ($463K in Q1 2026), loan servicing fees ($722K), gains on sale of loans ($2.05 million from $32.2 million in SBA loans sold), and other income sources.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels3 records
Open Bank product offering
Product offeringCore offering
Open Bank provides commercial banking services including commercial real estate (CRE) loans, SBA loans, commercial and industrial (C&I) loans, home mortgage loans, consumer loans, and deposit products. The bank operates 12 full-service branch offices across California (Los Angeles, Orange County, Santa Clara), Texas (Carrollton), and Nevada (Las Vegas), plus 5 loan production offices in additional states. It focuses on serving small- and medium-sized businesses, professionals, and residents with a particular emphasis on Korean and other ethnic minority communities.
Product overview
Open Bank is a traditional commercial bank offering a unified suite of lending and deposit products through its branch network. The bank operates as part of OP Bancorp (NASDAQ: OPBK) and provides commercial banking services primarily to small- and medium-sized businesses, professionals, and residents with a focus on Korean and Asian communities. The core products include Commercial Real Estate (CRE) Loans, SBA Loans, Commercial and Industrial (C&I) Loans, Home Mortgage Loans, Consumer Loans, and Deposit Services. The bank serves customers through 12 full-service branch offices in California, Texas, and Nevada, plus 5 loan production offices in additional states.
Differentiator
Problem solved
Functional benefit
Products and services
- Commercial Real Estate (CRE) Loans
- SBA Loans
- Commercial and Industrial (C&I) Loans
- Home Mortgage Loans
- Deposit Services
- Consumer and Other Loans
Quantifiable outcome
- Net income of $7.2 million in Q1 2026, representing 30% year-over-year growth
- +4 more outcomes
Companies that use Open Bank
Customer profileSegments4 records
Ideal customer profiles3 records
Open Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Open Bank partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- ComputerShareminorStock transfer agent located at 150 Royall Street, Suite 101, Canton, MA 02021, providing stock transfer and registrar services.
Scale indicators10 records
Recent moves8 records
Expansion highlights5 records
Open Bank competitors and assessment
Company assessmentDirect peers
- Bank of Hope: Bank of Hope (NYSE: HOPE) is the largest Korean-American focused bank in the US, with approximately $20B in assets formed from the merger of BBCN Bancorp and Hope Bancorp. It directly competes with Open Bank for Korean-American small business and commercial banking customers across California.
- East West Bank: East West Bank is the largest Asian-American focused bank in the US with approximately $70B+ in assets, serving similar Chinese, Korean, and broader Asian-American communities. It offers comparable commercial banking, SBA lending, and CRE products, making it the most directly comparable peer to Open Bank's Asian community banking strategy.
- Hanmi Financial Corporation: Hanmi Financial (NASDAQ: HAFC) is a Korean-American focused bank holding company with approximately $15B+ in assets, headquartered in Los Angeles. It directly competes with Open Bank in the Korean-American community banking space with similar SBA lending, CRE, and C&I loan products.
- Cathay General Bancorp: Cathay General Bancorp (NASDAQ: CATY) is a $20B+ asset bank holding company focused on Chinese-American and broader Asian-American communities with headquarters in Los Angeles. It provides similar commercial banking products and competes for the same ethnic minority business banking customers.
- Preferred Bank: Preferred Bank (NASDAQ: PFBC) is a Los Angeles-based commercial bank with approximately $6B in assets that focuses on Chinese-American and other Asian-American communities. It offers similar trade finance, CRE, and C&I lending products serving overlapping customer segments.
Emerging players
- Pacific City Bank: Pacific City Bank is a smaller Korean-American community bank based in Los Angeles with under $2B in assets, serving similar Korean and Asian-American small business customers. It represents a direct niche competitor with similar target market but smaller scale.
- SBA Communications-backed lenders (e.g., Live Oak Bancshares): Live Oak Bancshares (NYSE: LOB) is a leading SBA-focused bank with approximately $12B in assets, providing a benchmark for SBA lending platform economics. While geographically broader, it shares Open Bank's SBA specialization advantage and premium loan sale economics strategy.
Regional players
- First Pacific Bancorp: First Pacific Bancorp operates community banks in Southern California targeting similar small-to-medium business customers, though without the specific Korean-American ethnic niche focus. It provides a comparable size peer for benchmarking California-focused community banking operations.
Broad incumbents
- CVB Financial Corp: CVB Financial (NASDAQ: CVBF) operates Citizens Business Bank, a larger California-focused community bank with approximately $15B in assets. It serves similar SME and middle-market commercial banking customers in California, providing a broader incumbent competitor for the same small-to-medium business lending market.
- Heritage Commerce Corp: Heritage Commerce Corp (NASDAQ: HTBK) operates Heritage Bank of Commerce, a California community bank with approximately $5B in assets. It provides similar SBA, CRE, and C&I lending products to small-to-medium businesses in Northern and Central California markets where Open Bank has Santa Clara presence.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Open Bank social profiles
Digital presenceOpen Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Open Bank leadership team
Management profileNumber of profiles
Profiles4 records
Open Bank subsidiaries and ownership
Company hierarchySubsidiaries1 record
Open Bank funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Open Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Open Bank
What does Open Bank do?
Open Bank provides commercial banking services including commercial real estate (CRE) loans, SBA loans, commercial and industrial (C&I) loans, home mortgage loans, consumer loans, and deposit products. The bank operates 12 full-service branch offices across California (Los Angeles, Orange County, Santa Clara), Texas (Carrollton), and Nevada (Las Vegas), plus 5 loan production offices in additional states. It focuses on serving small- and medium-sized businesses, professionals, and residents with a particular emphasis on Korean and other ethnic minority communities.
Is Open Bank a public or private company?
Open Bank is a public company. It is classified as public and is currently operating.
When was Open Bank founded?
Open Bank was founded in 2005. It employs 101 to 250 people.
Where is Open Bank based?
Open Bank is headquartered in Los Angeles, United States, in the North America region.
How does Open Bank make money?
Two revenue lines are on record. Net Interest Income is the primary driver. The others are non-interest Income.
Who are Open Bank's main competitors?
Direct peers on record are Bank of Hope, East West Bank, Hanmi Financial Corporation, Cathay General Bancorp and Preferred Bank. Emerging players are Pacific City Bank and SBA Communications-backed lenders (e.g., Live Oak Bancshares). First Pacific Bancorp is listed as a regional player. Broad incumbents are CVB Financial Corp and Heritage Commerce Corp.
Does Open Bank have an API?
No public API is recorded for Open Bank.
What industry is Open Bank in?
Open Bank's product category is Community Banking. Its primary akta.pro industry code is FSABABAA, General SME & Middle-Market Commercial Banking, with a secondary code of FSABABAG, SME Commercial Real Estate (CRE) Lending. Its NAICS code is 52211 and its SIC code is 6022.