OPBK

EX-99.1

2 opbk8-kerx2026xq3xex991.htm

EX-99.1

Document

Exhibit 99.1 News Release

OP Bancorp Reports Third Quarter 2026 Net Income of $7.8 Million, Diluted EPS of $0.52

compared with second quarter 2026 net income of $8.0 million, diluted EPS of $0.53,

and third quarter 2025 net income of $6.7 million, diluted EPS of $0.45

Growth in net interest income; Margin expansion; Continued balance sheet growth

Los Angeles, CA (October 22, 2026) — OP Bancorp (the “Company”) (NASDAQ: OPBK), parent company of Open Bank, today reported:

($ in thousands, except per share data)As of and For the QuarterThird Quarter Highlights

3Q20262Q20263Q2025Comparisons reflect 3Q26 vs. 2Q26

Income Statement:Income Statement

Net interest income$22,207 $20,068 $20,346 • Revenue growth driven by higher net interest income.

•Net interest income increased, supported by continued loan growth.

• Higher provision reflected loan growth and changes in criticized loans.

Noninterest income5,295 5,651 4,130

Revenue27,502 25,719 24,476

Provision for (reversal of) credit losses1,597 (149)1,175

Noninterest expense15,512 14,826 13,629

Net income$7,763 $7,978 $6,703

Diluted Earnings Per Share (“EPS”)$0.52 $0.53 $0.45

Net interest margin (1) 3.27 %3.08 %3.26 %

Efficiency ratio (2) 56.40 57.64 55.68

Balance Sheet:Balance Sheet

Average loans (3) $2,334,125 $2,253,270 $2,132,230 •Average loans increased 4%.

•Average deposits increased 4%.

Average deposits2,408,0592,315,8212,229,591

Credit Quality:Credit Quality

Net charge-offs (1) to average gross loans

0.14 %0.03 %0.04 % •Net charge-offs increased but remained relatively low.

Allowance for credit losses on loans to gross loans1.26 1.24 1.27 •Allowance coverage remained adequate.

Selected Metrics:Performance and Capital

Book value per share$16.07 $15.99 $14.88 •Book value per share continued to increase, reflecting growth in shareholders’ equity.

Return on average assets ("ROAA") (1) 1.11 %1.18 %1.04 % •ROAA and ROAE remained robust.

Return on average equity ("ROAE") (1) 12.94 13.61 12.36

Shareholders' equity to asset ratio8.54 8.70 8.47 •The Company maintained a solid equity position.

Tier 1 leverage ratio9.09 9.21 9.01 •Tier 1 leverage remained robust, supporting future growth.

(1)Annualized.

(2)Represents noninterest expense divided by the sum of net interest income and noninterest income.

(3)Includes loans held-for-sale.

1

Sang K. Oh, President and Chief Executive Officer:

“We delivered solid results in the third quarter, with net income of $7.8 million and diluted EPS of $0.52. Continued loan growth supported higher net interest income and further expansion in net interest margin. Book value per share continued to increase, reflecting growth in shareholders’ equity, while we maintained appropriate capital levels. As we enter the final quarter of 2026, we remain committed to sustainable growth, disciplined risk management and operating efficiency,” said Sang K. Oh, President and Chief Executive Officer.

2

INCOME STATEMENT HIGHLIGHTS

Net Interest Income and Net Interest Margin

($ in thousands)For the Three Months Ended% Change 3Q2026 vs.

3Q20262Q20263Q20252Q20263Q2025

Interest Income

Interest income$41,377 $38,193 $38,522 8 %7 %

Interest expense19,170 18,125 18,176 6 5

Net interest income$22,207 $20,068 $20,346 11 %9 %

($ in thousands)For the Three Months EndedAverage Yield/Rate Change 3Q2026 vs.

3Q20262Q20263Q2025

Interest Income/Expense Average Yield/Rate(1) Interest Income/Expense Average Yield/Rate(1) Interest Income/Expense Average Yield/Rate(1)

2Q20263Q2025

Interest-earning Assets:

Loans$37,627 6.41 %$35,731 6.36 %$35,001 6.52 %5 bps(11) bps

Total interest-earning assets41,377 6.08 38,193 5.87 38,522 6.16 21 bps(8) bps

Interest-bearing Liabilities:

Interest-bearing deposits17,905 3.79 16,891 3.77 17,442 4.07 2 bps(28) bps

Total interest-bearing liabilities19,170 3.84 18,125 3.82 18,176 4.06 2 bps(22) bps

Ratios:

Net interest income / interest rate spreads22,207 2.24 20,068 2.05 20,346 2.10 19 bps14 bps

Net interest margin3.27 3.08 3.26 19 bps1 bps

Total deposits / cost of deposits17,905 2.95 16,891 2.93 17,442 3.10 2 bps(15) bps

Total funding liabilities / cost of funds19,170 3.03 18,125 3.00 18,176 3.13 3 bps(10) bps

(1)Annualized.

($ in thousands)For the Three Months EndedAverage Yield Change 3Q2026 vs.

3Q20262Q20263Q2025

Interest Income Average Yield (1) Interest Income Average

Yield (1) Interest Income Average Yield (1)

2Q20263Q2025

Loan Yield Component:

Contractual interest rate$36,973 6.30 %$35,335 6.29 %$34,263 6.39 %1 bps(9) bps

Recurring accretion / amortization239 0.04 226 0.04 299 0.05 — bps(1) bps

Nonrecurring (2) 415 0.07170 0.03439 0.08 4 bps(1) bps

Yield on loans$37,627 6.41 %$35,731 6.36 %$35,001 6.52 %5 bps(11) bps

(1)Annualized.

(2)Includes nonaccrual loan interest recognized or reversed, prepayment penalties and other fees, and accelerated discounts and premiums associated with loan payoffs.

3

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