OP Bancorp
For the period ended Mar 31, 2026. Filed May 15, 2026.
View on SEC.govAbout this filing
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
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Noninterest Expense
The following table presents the components of noninterest income for the third quarters of 2025 and 2024:
| Three Months Ended March 31, | ||||
|---|---|---|---|---|
| ($ in thousands) | 2026 | 2025 | $ Change | % Change |
| Noninterest expense: | ||||
| Salaries and employee benefits | $9,276 | $8,776 | $500 | 6% |
| Occupancy and equipment | 1,811 | 1,581 | 230 | 15 |
| Data processing and communication | 411 | 296 | 115 | 39 |
| Professional fees | 399 | 407 | (8) | (2) |
| FDIC insurance and regulatory assessments | 418 | 487 | (69) | (14) |
| Promotion and advertising | 120 | 156 | (36) | (23) |
| Directors' fees | 144 | 180 | (36) | (20) |
| Foundation donation and other contributions | 725 | 556 | 169 | 30 |
| Other expenses | 929 | 1,375 | (446) | (32) |
| Total noninterest expense | $14,233 | $13,814 | $419 | 3% |
Noninterest expense for the first quarter of 2026 increased year-over-year, primarily due to higher salaries and employee benefits and increased occupancy and equipment, partially offset by lower other expenses.
Salaries and employee benefits for the first quarter of 2026 increased $500 thousand, or 6%, mainly driven by staffing growth and annual merit-based salary adjustments effective April 2025, and higher benefits costs, including health insurance. This increase was partially offset by lower incentive accruals.
Occupancy and equipment for the first quarter of 2026 increased $230 thousand, or 15%, primarily due to the expiration of a common-area-maintenance concession on a lease that benefited the prior period.
Other expenses for the first quarter of 2026 decreased $446 thousand, or 32%, primarily reflecting lower business development and credit-related expenses.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.