OP Bancorp

What OP Bancorp does

OP Bancorp (NASDAQ: OPBK) is the California-incorporated holding company for Open Bank, a state-chartered community bank headquartered in Los Angeles and founded in 2005 (rebranded to Open Bank in 2010 under CEO Min Kim). It operates 14 full-service branches across California (Los Angeles, Orange County, Santa Clara), Texas (Carrollton) and Nevada (Las Vegas), plus six loan production offices in Washington, Virginia, Georgia, Colorado, and Northern California, employing 101-250 staff across a multi-state footprint. The bank runs on a commercial FIS core banking platform with a separate Open Bank Cash Management mobile app, Zelle P2P integration via Early Warning Services, Clover resold merchant POS acquiring, Elan-issued credit cards, and an "Open Access" data connectivity layer that exposes customer accounts to third-party aggregators including Plaid, Akoya, Intuit, Mastercard, Morningstar, MX, Quicken, Stripe, and Yodlee.

The product set spans personal and business deposit accounts (checking, savings, CDs, money market, IRAs, specialty deposits), commercial and SBA 7(a) lending up to $5 million, trade finance (letters of credit, collections, SBA EWCP), portfolio-based home loans (NMLS 1083089), and cash management services (ACH, wires, remote deposit, Positive Pay). Revenue is generated primarily through net interest income on a $2.2B average loan book at a 3.19% net interest margin, supplemented by deposit service charges, SBA loan sale gains on the secondary market, cash management and treasury fees, and merchant referral share from the Clover relationship. The bank's differentiation rests on SBA Preferred Lender status, designation as SBA National Small Business Lender of the Year, portfolio mortgage flexibility, a dedicated specialty deposits team serving title/escrow, 1031 Exchange, HOA, and IOLTA verticals, and a faith-based community-bank positioning with Korean/English bilingual service.

The franchise has demonstrated strong recent financial momentum: Q1 2026 net income of $7.2M ($0.48 EPS) was up 30% year-over-year, Q4 2025 net income of $7.1M was up 42% year-over-year, average loans grew 3% Q-o-Q to $2.2B, the CET1 capital ratio stood at 10.93%, nonperforming loans at 0.64% of gross loans, and book value per share reached $15.62. The company closed a $25M Tier 2 subordinated notes private placement in November 2025, raised the quarterly dividend 17% to $0.14/share, and operates with NIM compression (6bps Q1 2026) and SBA sale-gain volatility as the principal earnings headwinds.

Name

OP Bancorp

Legal name

OP Bancorp

Website

https://myopenbank.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

101–250 employees

Short description

OP Bancorp is the NASDAQ-listed holding company (OPBK) for Open Bank, a California-chartered community bank serving Korean-American and SMB customers across CA, TX, NV, and four additional states with deposits, SBA lending, trade finance, portfolio mortgages, and specialty depository services.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Commercial Banking (522110)

SIC

National Commercial Banks (6021), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

akta.pro secondary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Community banking services
• SBA 7(a) lending
• Commercial real estate loans
• Portfolio mortgage lending
• Specialty depository services

Headquarters

HQ city

Los Angeles

HQ country

United States

HQ region

North America

Offices20 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Primary revenue stream derived from lending (average loans $2.2 billion in Q4 2025) and deposit gathering, generating net interest margin of 3.19% in Q1 2026. Interest income is partially offset by interest expense on deposits and borrowings.
2. SBA Loan Sale Gains: Gains from the sale of SBA-guaranteed loans on the secondary market. Noninterest income declined 17% Q-o-Q in Q4 2025 due to lower SBA loan sale activity, indicating this is a meaningful but variable contributor.
3. Deposit Account Service Charges: Monthly service charges on personal and business checking accounts (e.g., $10 Simple Checking, $7 Standard EZ Checking, $8 Carefree Business, $10 Standard Business, $16 Business Analysis, $8 Attorney Client-Trust), plus per-debit fees and overdraft/NFS fees.
4. Cash Management and Treasury Services Fees: Revenue from ACH origination, wire transfer (eWire), bill pay for businesses, remote deposit capture, and Positive Pay fraud prevention services for commercial clients.
5. Merchant Services Revenue Share: Reseller economics from Clover/First Data Merchant Services for POS systems and payment processing sold to business banking customers.
6. Subordinated Notes / Wholesale Funding: Capital raise via $25 million private placement of subordinated notes due 2035 qualifying as Tier 2 capital, strengthening regulatory capital position.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels6 records

Core offering

OP Bancorp is a bank holding company whose operating subsidiary Open Bank is a faith-based community bank delivering deposit products, commercial and SBA 7(a) lending up to $5 million, portfolio home loans, trade finance, and specialty depository services to individuals and businesses across California, Texas, Nevada, and loan production offices in Washington, Virginia, Georgia, Colorado, and Northern California. Layered additional services include cash management, credit cards, debit cards, mobile and online banking, Zelle P2P payments, merchant services via Clover, and the Open Access data connectivity API.

Product overview

OP Bancorp is a California-based bank holding company whose primary subsidiary is Open Bank, a faith-based community bank operating full-service branches in California, Texas, and Nevada plus loan production offices in Washington, Colorado, Georgia, Virginia, and Northern California. The offering is organized as a core deposit-and-lending franchise with additional service modules layered on top. Core deposit products include Personal Checking (Simple Checking, Standard EZ Checking), Business Checking (Carefree, Standard, Business Analysis, Attorney Client-Trust), Savings Accounts, Certificate of Deposit (including 180-day and 365-day online terms), Wellbeing Money Market, Traditional and Roth IRAs, plus Specialty Deposits (Title and Escrow, 1031 Exchange, Property Managers/HOA banking, and IOLTA for law firms). Core lending products comprise Commercial Lending (Business Line of Credit, Business Term Loan, Commercial Real Estate Term Loan), SBA 7(a) Lending (up to $5 million, with SBA Preferred Lender status), Trade Finance (letters of credit, import/export financing, collections, SBA EWCP), and portfolio-based Home Loans (NMLS ID: 1083089). Layered additional services include Cash Management (ACH, Bill Pay, eWire, Remote Deposit, Positive Pay), Consumer and Business Credit Cards (issued via Elan Financial Services), Debit Cards with Card Control and Visa Alerts, Mobile Banking (iOS/Android apps), Online Banking, Open Access data connectivity via aggregators such as Plaid/Yodlee/MX/Akoya/Intuit/Mastercard/Morningstar/Quicken/Stripe, Zelle P2P payments, Clover Merchant Services (POS systems), Wire Transfer (domestic and international), 24/7 Telephone Banking, and Safe Deposit Boxes.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Personal checking accounts (Simple Checking and Standard EZ Checking) for individual consumers, including online banking, CheckFree Bill Pay, free 24/7 telephone banking, and debit card access.
• Business Checking Business checking accounts (Carefree Business Checking, Standard Business Checking, Business Analysis Checking, Attorney Client-Trust Checking) for small and medium businesses and law firms, with online banking, CheckFree Bill Pay, and debit card access.
• Savings Accounts Savings accounts offering competitive interest rates and APY with low monthly service charges that are waived when minimum balance requirements are met; available online in California and Texas.
• Certificate of Deposit Certificate of Deposit accounts offering guaranteed interest yield for a fixed term, with no monthly service charge, competitive APY, and online account opening for 180-day and 365-day terms in California and Texas.
• Wellbeing Money Market Accounts Tiered-interest money market accounts offering unlimited deposits, direct deposit, online banking, and 24-hour telephone banking, with higher interest as balances increase.
• Retirement Accounts (Traditional and Roth IRAs) Traditional and Roth Individual Retirement Accounts (IRAs), with traditional IRA contributions potentially tax-deductible if qualified and Roth IRA qualified distributions tax-free.
• Specialty Deposits Services Specialty banking services including Title and Escrow for title and escrow companies, 1031 Exchange accommodator services, Property Managers and Homeowners' Association banking, and IOLTA (Interest on Lawyers' Trust Accounts) account solutions for law firms with interest remittance to the appropriate state program.
• Commercial Lending Commercial lending products including Business Line of Credit (1-2 year revolving terms for inventory, receivables, working capital), Business Term Loan (up to 7-year terms, 10-year amortization for business purchase, inventory, equipment), and Commercial Real Estate Term Loan (up to 25-year amortization for property purchase or refinance).
• SBA Lending (7(a) Program) SBA 7(a) loan program up to $5 million covering real estate purchase/refinance, business acquisition, machinery and equipment, working capital, and business debt refinance, with SBA Preferred Lender (PLP) status enabling expedited approvals and SBA National Small Business Lender of the Year recognition.
• Trade Finance Trade financing for import and export, including issuance and settlement of letters of credit, banker's acceptances, international lines of credit, clean and documentary collections (D/P, D/A), assignments of proceeds, transfers and back-to-back letters of credit, working capital lines of credit, SBA Export Working Capital Program (EWCP), standby letters of credit, and performance bonds.
• Home Loans Portfolio-based home loan solutions including fixed and adjustable rate mortgages for purchases, second homes, and refinancing, originated nationwide through Open Bank's Home Loan Center with NMLS ID 1083089 and offering specialized underwriting for complex home loans as a portfolio lender.
• Cash Management Business cash management services including ACH origination, Bill Pay (one-time/recurring), eWire (electronic wire transfers), Remote Deposit Capture, ACH Positive Pay and Check Positive Pay fraud prevention, and Zero Balance Accounts to automate funds movement across multiple accounts.
• Credit Cards (via Elan Financial Services) Consumer and business credit cards issued by Elan Financial Services under Open Bank branding, with options for low rate, cash back, and rewards, plus mobile purchasing, free expense reporting tools, no fee for additional employee cards, and zero fraud liability.
• Debit Card Open Bank consumer and business debit cards with Scorecard Rewards points, surcharge-free ATM withdrawals via the SUM network, Visa Alerts near real-time activity notifications, Visa Account Updater (VAU), and Card Control features (lock/unlock, merchant category controls, spending limits, PIN change, digital wallet add).
• Mobile Banking App Open Bank Mobile App for iOS (App Store id6737236920) and Android (com.fis.openbk122043958) providing 24/7 account access including mobile check deposit, transfers, loan payments, real-time alerts, Zelle, Bill Pay, e-Statements, and Card Control, plus a separate Open Bank Cash Management app for business users.
• Online Banking Web-based online banking offering account activity viewing/downloading, internal transfers, stop payments, check ordering, external account transfers, Bill Payment, and Zelle access.
• Open Access Data Connectivity Secure data connectivity service enabling customers to link Open Bank accounts directly with accounting platforms, ERP systems, and other third-party apps via supported aggregators including Akoya, Intuit, Mastercard, Morningstar, MX, Plaid, Quicken, Stripe, and Yodlee.
• Zelle P2P Payments P2P payment service integrated into the Open Bank Mobile App and Online Banking, enabling consumers to send/receive money between U.S. bank accounts typically within minutes, with QR code support and no Open Bank fees; also offered for eligible small business accounts via the Open Bank Business app.
• Merchant Services (Clover) Clover-based merchant services offering Clover Flex, Clover Go, Clover Mini, Clover Station Duo, Clover Station Solo, and Clover Virtual Terminal for payment processing, loyalty programs, inventory and employee management, and acceptance of Apple Pay, Google Pay, Samsung Pay, EMV chip, and contactless transactions.
• Wire Transfer Service Domestic and international wire transfer services for sending and receiving money electronically through U.S. banks and foreign banks; Open Bank Routing Number 122043958, SWIFT Code FSTDUS6L.
• Telephone Banking 24/7 telephone banking service (800-325-3679) letting customers manage their account, get balance information, and make payments and transfers using a self-set access code.
• Safe Deposit Boxes Safe deposit boxes available for rent at most Open Bank branches in various sizes and rates for secure storage of documents and other items (contents are not FDIC-insured).

Quantifiable outcome

• Q1 2026 net income rose 30% year-over-year to $7.2 million ($0.48 diluted EPS)
• +7 more outcomes

Named customers10 records

Segments6 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

Feature7 records

Partnerships

Nine partnerships are on record, tiered flagship, core and minor.

• U.S. Small Business Administration (SBA)flagshipStrategic or Co-development PartnerOpen Bank is an SBA Preferred Lender (PLP) and was named National Small Business Lender of the Year. SBA partnership enables the bank to offer SBA 7(a) loans up to $5 million and SBA Export Working Capital Program (EWCP) financing, with expedited approval authority delegated to the bank under PLP status.
• Clover Network (First Data Merchant Services LLC)coreChannel Partner/ Reseller/ DistributorPartnership enables Open Bank to resell Clover POS systems (Flex, Mini, Station Solo/Duo, Go, Virtual Terminal) and merchant payment processing to business banking customers. Clover handles the merchant processing agreement; Open Bank earns referral/reseller economics.
• Elan Financial ServicescoreOEM/ Whitelabel/ Licensing PartnerElan Financial Services is the creditor and issuer of Open Bank-branded consumer and business credit cards under separate licenses from Visa U.S.A. and Mastercard International. Elan provides zero fraud liability and 24/7 cardmember service; Open Bank distributes and markets the cards.
• Early Warning Services (Zelle)coreTechnology or IntegrationOpen Bank integrates Zelle for P2P and small-business payments within the Open Bank Mobile app and online banking. Zelle marks are wholly owned by Early Warning Services and used under license; no fees are charged by Open Bank.
• VisacoreTechnology or IntegrationVisa debit card network partnership enabling Open Bank debit card acceptance, Visa Alerts near-real-time activity notifications, and Visa Account Updater (VAU) service for account-on-file updates.
• MastercardcoreTechnology or IntegrationMastercard network partnership supporting Open Bank credit card offerings via Elan Financial Services and inclusion in Open Access data connectivity aggregator list.
• PlaidcoreTechnology or IntegrationOpen Access (Open Bank's data connectivity platform) supports Plaid among its list of supported aggregators, enabling customers to link Open Bank accounts with Plaid-powered financial apps.
• IntuitcoreTechnology or IntegrationOpen Access supports Intuit (Quickbooks) among its list of supported aggregators for seamless data sharing with accounting platforms.
• Open Stewardship FoundationminorOthersRelated foundation established November 2011 (per About milestones) and linked from Open Bank's website. Likely supports community/faith-based stewardship initiatives consistent with the bank's mission.

Scale indicators13 records

Recent moves12 records

Expansion highlights7 records

Broad incumbents

• East West Bancorp: East West Bancorp (NASDAQ: EWBC) is a large Asian-American focused bank with deep roots in California. Comparable in Asian-American customer targeting, SMB and trade finance orientation, and California concentration, though materially larger in scale.
• Cathay General Bancorp: Cathay General Bancorp (NASDAQ: CATY) operates Cathay Bank, a Chinese-American focused community bank with strong California presence. Comparable as an Asian-American focused community bank with trade finance and SMB lending, though serving a different Asian-American demographic.

Direct peers

• Hanmi Financial Corporation: Hanmi Financial (NASDAQ: HAFC) is a Korean-American focused community bank holding company headquartered in Los Angeles. It is the most direct comparable to OP Bancorp in target demographic, geography, and SMB banking franchise.
• Pacific City Financial Corporation: Pacific City Financial (NASDAQ: PCB) operates Pacific City Bank, a Korean-American focused community bank in Los Angeles. Closely comparable in scale, customer demographic, and SBA/specialty lending strategy.
• Bank of Hope: Bank of Hope (NYSE: HOPE) is one of the largest Korean-American community banks in the U.S., formed from the merger of BBCN Bancorp and Wilshire Bancorp. Directly comparable in Korean-American customer focus, California concentration, and SMB lending emphasis.

Regional players

• Heritage Commerce Corp: Heritage Commerce Corp (NASDAQ: HTBK) operates Heritage Bank of Commerce, a California community bank focused on SMB and commercial lending. Comparable in scale, California footprint, and SMB banking model.
• CVB Financial Corp: CVB Financial (NASDAQ: CVBF) operates Citizens Business Bank, a California-focused community bank. Comparable as a California community bank with commercial/SMB banking, though broader in geographic and demographic focus.
• Pacific Premier Bancorp: Pacific Premier Bancorp (NASDAQ: PPBI) is a California-headquartered community bank serving SMBs and professionals. Comparable in scale, West Coast presence, and SMB/commercial banking emphasis.
• First Foundation Inc. First Foundation (NASDAQ: FFWM) is a California and Texas-based community bank with SMB and specialty lending focus. Comparable in scale, multi-state expansion strategy, and SMB/community banking model.
• Banc of California: Banc of California (NYSE: BANC) is a California-focused commercial bank. Comparable as a California community bank competitor with multi-branch presence and SMB lending, though broader in customer demographic.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/myopenbank
• LinkedInlinkedin.com/company/open-bank

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OP Bancorp