OP Bancorp Q2 Net Income Rises 10% to $8M, EPS $0.53 on Revenue Growth
OPBK sits 22% above its 52-week low of $12.41.
Summary
OP Bancorp posted Q2 net income of $8.0 million, up 10% from Q1, with diluted EPS of $0.53 beating the prior quarter's $0.48. Revenue grew to $25.7 million, driven by higher noninterest income and a reversal of provision for credit losses. Net interest margin compressed to 3.08% due to a one-time accrual adjustment, but credit quality remained strong with low net charge-offs. Book value per share climbed to $15.99, and capital ratios stayed robust. This follows a strong Q1 that saw 30% year-over-year net income growth, and the Q2 results extend the positive trend. The stock trades near its 52-week high, and the earnings beat may support further upside.
At the time of this announcement, OPBK was trading at $15.08 on NASDAQ in the Finance sector, with a market capitalization of approximately $220.3M. The 52-week trading range was $12.41 to $15.73. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: BusinessWire.