OP Bancorp
For the period ended Jun 30, 2025. Filed Aug 11, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2025 · Filed Aug 11, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Net Income
| Three Months Ended June 30, | ||||
|---|---|---|---|---|
| ($ in thousands) | 2025 | 2024 | $ Change | % Change |
| Interest income | $37,665 | $34,357 | $3,308 | 10% |
| Interest expense | 17,944 | 18,163 | (219) | (1) |
| Net interest income | 19,721 | 16,194 | 3,527 | 22 |
| Provision for credit losses | 1,206 | 617 | 589 | 95 |
| Noninterest income | 3,968 | 4,184 | (216) | (5) |
| Noninterest expense | 14,037 | 12,189 | 1,848 | 15 |
| Income before income tax expense | 8,446 | 7,572 | 874 | 12 |
| Income tax expense | 2,113 | 2,136 | (23) | (1) |
| Net income | $6,333 | $5,436 | $897 | 17% |
In the second quarter of 2025, we generated net income of $6.3 million, up $897 thousand, or 17%, compared with $5.4 million in the same period a year ago. The increase was primarily driven by higher net interest income, partially offset by increases in noninterest expense and provision for credit losses.
| Six Months Ended June 30, | ||||
|---|---|---|---|---|
| ($ in thousands) | 2025 | 2024 | $ Change | % Change |
| Interest income | $72,524 | $67,270 | $5,254 | 8% |
| Interest expense | 35,385 | 35,097 | 288 | 1 |
| Net interest income | 37,139 | 32,173 | 4,966 | 15 |
| Provision for credit losses | 1,942 | 762 | 1,180 | 155 |
| Noninterest income | 8,784 | 7,770 | 1,014 | 13 |
| Noninterest expense | 27,851 | 24,346 | 3,505 | 14 |
| Income before income tax expense | 16,130 | 14,835 | 1,295 | 9 |
| Income tax expense | 4,237 | 4,173 | 64 | 2 |
| Net income | $11,893 | $10,662 | $1,231 | 12% |
In the first half of 2025, we generated net income of $11.9 million, up $1.2 million, or 12%, compared with $10.7 million for the same period a year ago. The increase was primarily driven by higher net interest income and noninterest income, partially offset by increases in noninterest expense and provision for credit losses.
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