OP Bancorp (OPBK) 10-Year Financial Performance & Capital Metrics

OPBK • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingWest Coast Community Banks

AboutOP Bancorp operates as the bank holding company for Open Bank that provides banking products and services in California. It offers demand, checking, savings, money market, and time deposit accounts, as well as certificates of deposit. The company also provides commercial real estate, small business administration, commercial and industrial business, single-family residential, term, consumer, and home mortgage loans; trade financing products; and letters of credit, and SWIFT and export advice. In addition, it offers debit and credit card, online transfer and bill payment, electronic delivery of customer statements, and mobile banking solutions for iPhone and Android phones, including remote check deposit with mobile bill pay; direct deposits, cashier's checks, person to person payments, wire transfers, and automated clearing house (ACH) services; and cash management services, including balance reporting, transfers between accounts, wire transfer initiation, ACH origination, and stop payment services, as well as remote deposit capture, positive pay, zero balance accounts, and sweep accounts. As of January 27, 2022, the company operated nine full branch offices in Downtown Los Angeles, Los Angeles Fashion District, Los Angeles Koreatown, Gardena, Buena Park, and Santa Clara in California; and Carrollton, Texas. It also had four loan production offices in Atlanta, Georgia; Aurora, Colorado; and Lynnwood and Seattle in Washington. The company was founded in 2005 and is headquartered in Los Angeles, California.Show more

Net Interest Income $66M -4.5%
Total Revenue $154M +13.4%
Net Income $21M -11.9%
Return on Equity 10.6% -18.1%
Net Interest Margin 2.77% -13.3%
Efficiency Ratio 32.59% -7.2%
ROA 0.93% -17.2%
Equity / Assets 8.66% -3.4%
Book Value per Share 13.78 +8.5%
Tangible BV/Share 13.78 +8.5%
Debt/Equity 0.50 -15.5%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 32.6% efficiency ratio
✓Healthy dividend yield of 3.3%
✓Trading at only 1.1x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y19.13%

5Y17.02%

3Y24.32%

TTM-

Profit (Net Income) CAGR

10Y16.74%

5Y4.69%

3Y-9.94%

TTM6.42%

EPS CAGR

10Y12.71%

5Y6.18%

3Y-9.58%

TTM8.03%

ROCE

10Y Avg15.02%

5Y Avg15.81%

3Y Avg14.99%

Latest8.94%

Peer Comparison

West Coast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
BCALSouthern California Bancorp	608.64M	18.83	85.59	45.45%	2.94%	11.23%	8.17%	0.17
CWBCCommunity West Bancshares	447.97M	23.38	51.96	51.89%	4.67%	6.95%	3.83%	0.56
GBCIGlacier Bancorp, Inc.	6.29B	48.39	28.80	11.64%	15.27%	6.57%	3.34%	1.18
GBFHGBank Financial Holdings Inc.	465.21M	32.36	23.28	2%	30.99%	11.8%	5.65%	0.22
BOHBank of Hawaii Corporation	2.86B	71.86	20.77	6.6%	14.57%	10.28%	5.9%	0.45
HFWAHeritage Financial Corporation	867.93M	25.56	20.61	4.64%	13.64%	6.33%	7.03%	0.47
HTBKHeritage Commerce Corp	786.28M	12.82	19.42	3.35%	16.12%	6.19%	4.75%	0.06
NRIMNorthrim BanCorp, Inc.	640.63M	29.00	17.47	23.77%	18.87%	19.99%		0.15

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	22.5M	28.33M	35.71M	40.96M	44.27M	45.36M	61.03M	76.91M	68.69M	65.61M
NII Growth %	0.35%	0.26%	0.26%	0.15%	0.08%	0.02%	0.35%	0.26%	-0.11%	-0.04%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	25.19M	31.7M	40.28M	50.07M	58.78M	53.66M	64.16M	88.21M	121.67M	137.62M
Interest Expense	2.69M	3.37M	4.57M	9.11M	14.51M	8.29M	3.13M	11.3M	52.98M	72.01M
Loan Loss Provision	552.84K	1.68M	1.31M	1.27M	1.1M	5.96M	522K	2.98M	1.65M	2.76M
Non-Interest Income+	7.98M	9.01M	8.99M	9.33M	11.43M	10.77M	16.02M	17.62M	14.18M	16.43M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	33.17M	40.71M	49.27M	59.4M	70.2M	64.43M	80.17M	105.83M	135.85M	154.05M
Revenue Growth %	0.24%	0.23%	0.21%	0.21%	0.18%	-0.08%	0.24%	0.32%	0.28%	0.13%
Non-Interest Expense	19.79M	23.34M	26.26M	29.56M	32.52M	31.94M	35.87M	44.83M	47.73M	50.2M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	10.13M	12.32M	17.13M	19.46M	22.08M	18.23M	40.66M	46.72M	33.49M	29.08M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.33%	0.22%	0.39%	0.14%	0.13%	-0.17%	1.23%	0.15%	-0.28%	-0.13%
Pretax Income+	10.13M	12.32M	17.13M	19.46M	22.08M	18.23M	40.66M	46.72M	33.49M	29.08M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	4.17M	4.89M	7.89M	5.2M	5.32M	5.11M	11.8M	13.41M	9.57M	8.01M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	5.96M	7.42M	9.24M	14.25M	16.76M	13.13M	28.84M	33.31M	23.92M	21.07M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.33%	0.25%	0.24%	0.54%	0.18%	-0.22%	1.2%	0.15%	-0.28%	-0.12%
Net Income (Continuing)	5.96M	7.43M	9.24M	14.25M	16.76M	13.13M	28.84M	33.31M	23.92M	21.07M
EPS (Diluted)+	0.37	0.53	0.66	0.89	1.03	0.85	1.88	2.14	1.55	1.39
EPS Growth %	-0.12%	0.43%	0.25%	0.35%	0.16%	-0.17%	1.21%	0.14%	-0.28%	-0.1%
EPS (Basic)	0.37	0.55	0.68	0.92	1.04	0.85	1.89	2.15	1.55	1.39
Diluted Shares Outstanding	15.19M	13.16M	13.49M	15.55M	15.94M	15.22M	15.15M	15.23M	15.16M	14.87M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	37.4M	20.13M	63.25M	77.73M	86.04M	106.31M	115.46M	82.97M	91.31M	135.04M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	22K
Total Investments+	550.36M	703.43M	800.38M	928.77M	1.05B	1.21B	1.55B	1.93B	1.94B	2.13B
Investments Growth %	0.26%	0.28%	0.14%	0.16%	0.13%	0.16%	0.28%	0.24%	0.01%	0.09%
Long-Term Investments	506.48M	667.96M	758.91M	873.43M	991.36M	1.12B	1.4B	1.72B	1.75B	2.13B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
PP&E (Net)	5.89M	5.07M	4.48M	4.63M	13.48M	11.33M	13.26M	13.5M	13.74M	12.86M
Other Assets	20.5M	27.35M	27.04M	26.32M	25.74M	27.02M	36.22M	51.24M	77.56M	67.76M
Total Current Assets	82.85M	57.59M	107.19M	136.13M	145.75M	202.09M	270.48M	299.96M	293.82M	144.25M
Total Non-Current Assets	534.5M	703.66M	793.81M	908.06M	1.03B	1.16B	1.46B	1.79B	1.85B	2.22B
Total Assets+	617.35M	761.25M	901M	1.04B	1.18B	1.37B	1.73B	2.09B	2.15B	2.37B
Asset Growth %	0.17%	0.23%	0.18%	0.16%	0.13%	0.16%	0.26%	0.21%	0.03%	0.1%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.02%	0.01%	0.02%	0.02%	0.01%	0.01%
Accounts Payable	347.14K	321.75K	423K	1.72M	2.69M	1.02M	558K	2.77M	12.63M	16.07M
Total Debt+	20M	10M	50M	0	10.13M	13.43M	10.31M	10.21M	114.34M	102.86M
Net Debt	-17.4M	-10.13M	-13.25M	-77.73M	-75.91M	-92.88M	-105.15M	-72.76M	23.03M	-32.19M
Long-Term Debt	20M	10M	25M	0	0	5M	0	0	105M	95M
Short-Term Debt	0	0	25M	0	0	0	0	0	0	0
Other Liabilities	4.8M	7.86M	-14.21M	7.51M	5.42M	8.92M	16.54M	18.83M	20.58M	14.81M
Total Current Liabilities	520.07M	662.11M	798.73M	906.89M	1.02B	1.2B	1.53B	1.89B	1.82B	2.04B
Total Non-Current Liabilities	24.8M	17.86M	10.79M	7.51M	15.55M	22.35M	26.84M	29.04M	134.92M	117.67M
Total Liabilities	544.87M	679.97M	809.52M	914.4M	1.04B	1.22B	1.56B	1.92B	1.96B	2.16B
Total Equity+	72.48M	81.28M	91.48M	129.79M	140.58M	143.37M	165.22M	176.92M	192.63M	204.99M
Equity Growth %	0.11%	0.12%	0.13%	0.42%	0.08%	0.02%	0.15%	0.07%	0.09%	0.06%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.09%	0.1%	0.11%	0.13%	0.12%	0.09%	0.19%	0.19%	0.13%	0.11%
Book Value per Share	4.77	6.18	6.78	8.35	8.82	9.42	10.90	11.62	12.71	13.78
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	67.34M	67.5M	67.93M	91.21M	86.38M	78.66M	78.72M	79.33M	76.28M	73.7M
Additional Paid-in Capital	3.41M	4.61M	5.28M	6.25M	7.52M	8.52M	8.64M	9.74M	10.94M	11.93M
Retained Earnings	1.96M	9.39M	18.62M	32.88M	46.48M	55.35M	79.06M	105.69M	120.86M	134.78M
Accumulated OCI	-232.03K	-214.97K	-350K	-548K	188K	840K	-1.2M	-17.84M	-15.45M	-15.41M
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	8.95M	10.58M	-2.15M	30.61M	18.98M	-4.85M	-28.28M	83.73M	67.84M	31.34M
Operating CF Growth %	-0.64%	0.18%	-1.2%	15.25%	-0.38%	-1.26%	-4.83%	3.96%	-0.19%	-0.54%
Net Income	5.96M	7.43M	9.24M	14.25M	16.76M	13.13M	28.84M	33.31M	23.92M	21.07M
Depreciation & Amortization	940.4K	1.08M	1.01M	1.04M	1.15M	1.3M	1.31M	1.37M	1.34M	1.36M
Deferred Taxes	0	0	0	0	0	0	-2.31M	1.08M	626K	-1.6M
Other Non-Cash Items	-281.2K	4.43M	-12.81M	16.23M	-3.98M	-18.64M	-65.37M	50.38M	43.26M	-230K
Working Capital Changes	1.46M	-3.57M	-252K	-1.89M	3.59M	-1.74M	8.69M	-3.58M	-2.6M	9.56M
Cash from Investing+	-117.85M	-160.07M	-81.68M	-146.28M	-118.03M	-147.07M	-286.04M	-461.78M	-75.97M	-187.42M
Purchase of Investments	-30.12M	-782K	-13.55M	-23.36M	-16.59M	-66.61M	-99.2M	-116.95M	-8.57M	-23.46M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	-94.43M	-167.1M	-73.88M	-128.29M	-114.25M	-110.16M	-221.66M	-375.61M	-89.58M	-190.06M
Cash from Financing+	81.55M	132.22M	126.95M	130.15M	107.36M	172.29M	323.47M	345.56M	16.37M	199.8M
Dividends Paid	0	0	0	0	-3.15M	-4.26M	-5.13M	-6.68M	-7.27M	-7.14M
Share Repurchases	0	0	0	0	-5.39M	-8.1M	-28K	0	-3.93M	-2.74M
Stock Issued	0	0	0	22.57M	0	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	-1000K	1000K	-1000K	0	1000K	-1000K	0	1000K	-1000K
Other Financing	91.55M	142.22M	111.95M	132.58M	115.9M	179.65M	333.63M	352.23M	-77.42M	219.69M
Net Change in Cash+	-27.35M	-17.27M	43.12M	14.48M	8.31M	20.37M	9.15M	-32.49M	8.24M	43.73M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	64.75M	37.4M	20.13M	63.25M	77.63M	85.94M	106.31M	115.46M	82.97M	91.22M
Cash at End	37.4M	20.13M	63.25M	77.73M	85.94M	106.31M	115.46M	82.97M	91.22M	134.94M
Interest Paid	2.47M	3.4M	4.47M	7.82M	13.54M	9.96M	3.6M	9.09M	43.12M	68.57M
Income Taxes Paid	2.69M	5.43M	7.74M	6.61M	4.21M	6.13M	10.78M	14.49M	8.39M	8.26M
Free Cash Flow+	7.07M	10.32M	-2.57M	29.41M	17.24M	-5.47M	-29.4M	82.32M	65.66M	29.78M
FCF Growth %	-0.68%	0.46%	-1.25%	12.45%	-0.41%	-1.32%	-4.38%	3.8%	-0.2%	-0.55%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	8.65%	9.66%	10.69%	12.88%	12.4%	9.25%	18.69%	19.47%	12.94%	10.6%
Return on Assets (ROA)	1.04%	1.08%	1.11%	1.47%	1.51%	1.03%	1.86%	1.74%	1.13%	0.93%
Net Interest Margin	3.65%	3.72%	3.96%	3.92%	3.75%	3.32%	3.53%	3.67%	3.2%	2.77%
Efficiency Ratio	59.68%	57.32%	53.29%	49.77%	46.32%	49.58%	44.73%	42.36%	35.13%	32.59%
Equity / Assets	11.74%	10.68%	10.15%	12.43%	11.92%	10.49%	9.57%	8.45%	8.97%	8.66%
Book Value / Share	4.77	6.18	6.78	8.35	8.82	9.42	10.9	11.62	12.71	13.78
NII Growth	34.58%	25.89%	26.05%	14.69%	8.09%	2.47%	34.53%	26.03%	-10.69%	-4.48%
Dividend Payout	-	-	-	-	18.8%	32.47%	17.79%	20.04%	30.39%	33.9%

Revenue by Segment

	2018	2019	2020
Service Fees And Transaction Based Fees Income	733K	736K	754K
Service Fees And Transaction Based Fees Income Growth	-	0.41%	2.45%
Overdraft And Nonsufficient Funds Fees Income	1.2M	958K	378K
Overdraft And Nonsufficient Funds Fees Income Growth	-	-20.17%	-60.54%

Frequently Asked Questions

Valuation & Price

OP Bancorp (OPBK) has a price-to-earnings (P/E) ratio of 10.6x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

OP Bancorp (OPBK) grew revenue by 13.4% over the past year. This is steady growth.

Yes, OP Bancorp (OPBK) is profitable, generating $22.3M in net income for fiscal year 2024 (13.7% net margin).

Dividend & Returns

Yes, OP Bancorp (OPBK) pays a dividend with a yield of 3.25%. This makes it attractive for income-focused investors.

OP Bancorp (OPBK) has a return on equity (ROE) of 10.6%. This is reasonable for most industries.

Industry Metrics

OP Bancorp (OPBK) has a net interest margin (NIM) of 2.8%. NIM has been under pressure due to interest rate environment.

OP Bancorp (OPBK) has an efficiency ratio of 32.6%. This is excellent, indicating strong cost control.

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