OP Bancorp
For the period ended Sep 30, 2025. Filed Nov 7, 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.
Sep 30, 2025 · Filed Nov 7, 2025
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Provision for Credit Losses
Provision for credit losses was $1.2 million for the third quarter of 2025, compared with $448 thousand in the same period a year ago. The increase primarily reflected higher historical loss factors stemming from risk rating downgrades, increased specific reserves, net charge-offs, and loan growth compared to the prior period.
Provision for credit losses was $3.1 million for the first nine months of 2025, compared with $1.2 million in the same period a year ago. The increase primarily reflects higher qualitative reserves following adjustments to qualitative factor after management reassessed the underlying assumptions, as well as loan growth. These increases were partially offset by lower historical loss factors, which reflect higher reserve recorded in 2024 due to adjustments to prepayment lookback period.
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