OP Bancorp — Form 8-K
Filed October 22, 2026 · analyzed by the 8-K Agent
8-K
▼ Likely negative
significance 48/100
What the filing says
OP Bancorp reported Q3 2026 net income of $7.8M (diluted EPS $0.52) vs. Q2's $8.0M ($0.53). Net interest income grew 11% QoQ to $22.2M on loan growth averaging $2.33B (+4% QoQ), with NIM expanding 19bps to 3.27%. Average deposits grew 4% to $2.41B. However, criticized loans surged 132% QoQ to $77.6M (3.39% of gross loans), driven by $45.7M newly downgraded loans—predominantly four CRE relationships totaling $41.5M, including a $21.3M downtown LA developer. Nonperforming loans rose to $18.0M (0.79%), net charge-offs to $821K. Allowance held stable at 1.26% of gross loans ($28.8M). Book value/share increased to $16.07. Dividend declared $0.14/share payable Nov 19, 2026.
Why this rating
Spike in criticized loans (from 1.48% to 3.39% in one quarter) signals emerging credit stress; material to a $158M market cap bank despite solid NIM expansion and loan growth. Manageable but concerning trajectory.
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