OP Bancorp
For the period ended Mar 31, 2026. Filed May 15, 2026.
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Mar 31, 2026 · Filed May 15, 2026
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6 — Borrowing Arrangements
Note 6 —Borrowing Arrangements
As of March 31, 2026, the Company had $75.0 million advances from FHLB with a weighted average interest rate of 3.56% and a weighted average remaining term of 2.0 years, compared to $75.0 million with a weighted average interest rate of 3.55% and a weighted average remaining term of 2.1 years as of December 31, 2025. The Company had letters of credit from the FHLB in the amount of $170.0 million and $135.0 million to secure public deposits as of March 31, 2026 and December 31, 2025, respectively.
The Company had available borrowing capacity from the following institutions as of March 31, 2026:
| ($ in thousands) | March 31, 2026 |
|---|---|
| FHLB | $417,723 |
| Federal Reserve Bank | 204,140 |
| Pacific Coast Bankers Bank | 50,000 |
| Zions Bank | 25,000 |
| First Horizon Bank | 25,000 |
| Total | $721,863 |
The Company has pledged approximately $1.66 billion and $1.64 billion of loans as collateral for these lines of credit as of March 31, 2026 and December 31, 2025, respectively.
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