OP Bancorp
For the period ended Mar 31, 2026. Filed May 15, 2026.
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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.
Mar 31, 2026 · Filed May 15, 2026
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Income Taxes
Income tax expense was $2.7 million and $2.1 million for the first quarters of 2026 and 2025, respectively. The effective income tax rate was 27.0% and 27.6% for the first quarters of 2026 and 2025, respectively. The increase in income tax expense was primarily driven by higher pre-tax income.
We recorded net deferred tax assets of $12.4 million as of both March 31, 2026 and December 31, 2025, respectively. After evaluating all available positive and negative evidence, including recent financial performance, projected future taxable income, and tax planning strategies, we have concluded that it was more- likely-than-not that net deferred tax assets as of March 31, 2026, will be fully realized in future periods.
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