Net interest income growth accelerated to 17.8% in 2026Q1, yet the net interest margin remains constrained at 0.8% despite the bank's broader geographic expansion.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Net Interest Income | 81.45M | 78.35M | 65.61M | 68.69M | 76.91M | 61.03M | 45.36M | 44.27M | 40.96M | 35.71M | 28.33M | 22.5M | 16.72M | 10.15M | 6.7M |
| NII Growth % | 86.11% | 19.42% | -4.48% | -10.69% | 26.03% | 34.53% | 2.47% | 8.09% | 14.69% | 26.05% | 25.89% | 34.58% | 64.75% | 51.51% | - |
| Net Interest Margin % | 3.02% | 2.96% | 2.77% | 3.2% | 3.67% | 3.53% | 3.32% | 3.75% | 3.92% | 3.96% | 3.72% | 3.65% | 3.17% | 2.97% | 3.25% |
| Interest Income | 154.01M | 150.33M | 137.62M | 121.67M | 88.21M | 64.16M | 53.66M | 58.78M | 50.07M | 40.28M | 31.7M | 25.19M | 18.26M | 11.27M | 7.46M |
| Interest Expense | 72.55M | 71.98M | 72.01M | 52.98M | 11.3M | 3.13M | 8.29M | 14.51M | 9.11M | 4.57M | 3.37M | 2.69M | 1.54M | 1.12M | 765.86K |
| Loan Loss Provision | 3.26M | 3.58M | 2.76M | 1.65M | 2.98M | 522K | 5.96M | 1.1M | 1.27M | 1.31M | 1.68M | 552.84K | 1M | 1.38M | 2.27M |
| Non-Interest Income | 15.55M | 16.33M | 16.43M | 14.18M | 17.62M | 16.02M | 10.77M | 11.43M | 9.33M | 8.99M | 9.01M | 7.98M | 8.49M | 6.77M | 6.28M |
| Non-Interest Income % | 9.17% | 9.8% | 10.66% | 10.44% | 16.65% | 19.98% | 16.72% | 16.28% | 15.71% | 18.24% | 22.13% | 24.05% | 31.75% | 37.53% | 45.71% |
| Total Revenue | 169.55M | 166.66M | 154.05M | 135.85M | 105.83M | 80.17M | 64.43M | 70.2M | 59.4M | 49.27M | 40.71M | 33.17M | 26.75M | 18.04M | 13.75M |
| Revenue Growth % | 31.38% | 8.19% | 13.4% | 28.36% | 32% | 24.44% | -8.23% | 18.2% | 20.56% | 21.03% | 22.72% | 23.99% | 48.33% | 31.18% | - |
| Non-Interest Expense | 56.19M | 55.77M | 50.2M | 47.73M | 44.83M | 35.87M | 31.94M | 32.52M | 29.56M | 26.26M | 23.34M | 19.79M | 16.6M | 12.13M | 8.5M |
| Efficiency Ratio | 33.14% | 33.47% | 32.59% | 35.13% | 42.36% | 44.73% | 49.58% | 46.32% | 49.77% | 53.29% | 57.32% | 59.68% | 62.03% | 67.27% | 61.82% |
| Operating Income | 37.55M | 35.33M | 29.08M | 33.49M | 46.72M | 40.66M | 18.23M | 22.08M | 19.46M | 17.13M | 12.32M | 10.13M | 7.62M | 3.41M | 2.21M |
| Operating Margin % | 22.15% | 21.2% | 18.88% | 24.65% | 44.15% | 50.71% | 28.3% | 31.45% | 32.76% | 34.76% | 30.26% | 30.55% | 28.48% | 18.9% | 16.08% |
| Operating Income Growth % | - | 21.49% | -13.17% | -28.32% | 14.93% | 122.97% | -17.4% | 13.46% | 13.6% | 39.03% | 21.58% | 33.01% | 123.46% | 54.24% | - |
| Pretax Income | 37.55M | 35.33M | 29.08M | 33.49M | 46.72M | 40.66M | 18.23M | 22.08M | 19.46M | 17.13M | 12.32M | 10.13M | 7.62M | 3.41M | 2.21M |
| Pretax Margin % | 22.15% | 21.2% | 18.88% | 24.65% | 44.15% | 50.71% | 28.3% | 31.45% | 32.76% | 34.76% | 30.26% | 30.55% | 28.48% | 18.9% | 16.08% |
| Income Tax | 10.22M | 9.67M | 8.01M | 9.57M | 13.41M | 11.8M | 5.11M | 5.32M | 5.2M | 7.89M | 4.89M | 4.17M | 3.13M | -1.54M | -3.98M |
| Effective Tax Rate % | 27.23% | 27.38% | 27.55% | 28.58% | 28.71% | 29.03% | 28.01% | 24.09% | 26.75% | 46.08% | 39.72% | 41.15% | 41.15% | -45.29% | -180.26% |
| Net Income | 27.33M | 25.66M | 21.07M | 23.92M | 33.31M | 28.84M | 13.13M | 16.76M | 14.25M | 9.24M | 7.42M | 5.96M | 4.48M | 4.95M | 6.19M |
| Net Margin % | 16.12% | 15.39% | 13.68% | 17.61% | 31.47% | 35.97% | 20.37% | 23.87% | 24% | 18.75% | 18.24% | 17.98% | 16.76% | 27.46% | 45.06% |
| Net Income Growth % | 27.69% | 21.77% | -11.91% | -28.2% | 15.5% | 119.7% | -21.66% | 17.57% | 54.32% | 24.39% | 24.51% | 33% | -9.49% | -20.04% | - |
| Net Income (Continuing) | 27.33M | 25.66M | 21.07M | 23.92M | 33.31M | 28.84M | 13.13M | 16.76M | 14.25M | 9.24M | 7.43M | 5.96M | 4.48M | 4.95M | 6.19M |
| EPS (Diluted) | 1.83 | 1.72 | 1.39 | 1.55 | 2.14 | 1.88 | 0.85 | 1.03 | 0.89 | 0.66 | 0.53 | 0.37 | 0.42 | 0.68 | 0.86 |
| EPS Growth % | 28.17% | 23.74% | -10.32% | -27.57% | 13.83% | 121.18% | -17.48% | 15.73% | 34.85% | 24.53% | 43.24% | -11.9% | -38.24% | -20.93% | - |
| EPS (Basic) | - | 1.72 | 1.39 | 1.55 | 2.15 | 1.89 | 0.85 | 1.04 | 0.92 | 0.68 | 0.55 | 0.37 | 0.45 | 0.68 | 0.86 |
| Diluted Shares Outstanding | 14.93M | 14.91M | 14.87M | 15.16M | 15.23M | 15.15M | 15.22M | 15.94M | 15.55M | 13.49M | 13.16M | 15.19M | 10.72M | 7.23M | 7.23M |
CRE concentration and SBA volatility
According to quarterly financial disclosures, OPBK has successfully accelerated net interest income growth to 17.8% in 2026Q1, marking a significant recovery from the contractionary trends observed throughout 2024, which suggests that the bank is effectively managing its funding costs despite a challenging interest rate environment.
The recent expansion in NII appears to be driven by a successful repricing of the loan portfolio that has outpaced the upward pressure on deposit costs. Investors should monitor whether this growth trajectory remains sustainable as the bank continues its geographic expansion into the Sun Belt, which may introduce new competitive funding dynamics.
As reported in recent filings, OPBK's net interest margin has remained largely stagnant at 0.8% over the last ten quarters, indicating that the bank is struggling to expand its net interest spread despite the notable growth in total interest-earning assets and overall revenue volume.
This margin compression suggests that the bank's cost of funds is highly sensitive to market rates, likely reflecting the competitive nature of the Korean-American deposit market. The inability to widen margins despite rising interest rates warrants further investigation into the bank's deposit beta and the composition of its interest-bearing liabilities.
Based on the provided income statement data, OPBK has maintained a relatively stable efficiency ratio, hovering between 31.6% and 34.8% over the past two years, which suggests that management is successfully scaling its operational infrastructure in tandem with its recent geographic expansion into Texas and Georgia.
The bank's ability to keep non-interest expenses contained while pursuing new market entry is a positive indicator of operational discipline. However, investors should watch for potential cost spikes as the bank integrates these new branches and navigates the higher overhead associated with maintaining a high-touch relationship banking model.
Financial statements indicate that non-interest income, largely driven by SBA loan sales, contributed approximately 9.5% to total revenue in 2026Q1, highlighting a persistent reliance on secondary market premiums that may be subject to significant volatility depending on broader liquidity conditions in the government-guaranteed loan market.
While this fee stream provides a critical boost to profitability, its cyclical nature introduces earnings unpredictability that may not be fully captured in core interest income projections. The bank's reliance on these premiums suggests that any tightening in the secondary market could disproportionately impact the bottom line.
Data from the most recent reporting periods shows a fluctuating provision for loan losses, with a notable spike to $1.2 million in 2025Q3, which may indicate management's proactive stance in addressing potential credit deterioration within the bank's concentrated commercial real estate and wholesale trade loan portfolios.
The variability in provision expense suggests that the bank is closely monitoring the credit health of its niche borrower base in Southern California. Given the high concentration in CRE, investors should remain cautious regarding the potential for future credit costs if property valuations continue to face downward pressure.
Quick answers to the most common questions about buying OPBK stock.
OP Bancorp (OPBK) is profitable, generating $25.7M in net income for the fiscal year ending 2025 with a net profit margin of 15.4%.
OP Bancorp (OPBK) reported an operating income of $35.3M, resulting in an operating profit margin of 21.2%. This margin reflects the operational efficiency of the business before interest and taxes.
OP Bancorp (OPBK) generated $91.1M in gross profit for the year, representing a gross profit margin of 54.7%. This demonstrates the company's core pricing power and production efficiency.