OP Bancorp
For the period ended Jun 30, 2026. Filed Aug 7, 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.
Jun 30, 2026 · Filed Aug 7, 2026
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Noninterest Expense
The following table presents the components of noninterest expense for the second quarters of 2026 and 2025:
| Three Months Ended June 30, | ||||
|---|---|---|---|---|
| ($ in thousands) | 2026 | 2025 | $ Change | % Change |
| Noninterest expense: | ||||
| Salaries and employee benefits | $9,733 | $9,075 | $658 | 7% |
| Occupancy and equipment | 1,901 | 1,584 | 317 | 20 |
| Data processing and communication | 380 | 306 | 74 | 24 |
| Professional fees | 454 | 418 | 36 | 9 |
| FDIC insurance and regulatory assessments | 387 | 506 | (119) | (24) |
| Promotion and advertising | 104 | 232 | (128) | (55) |
| Directors' fees | 164 | 198 | (34) | (17) |
| Foundation donation and other contributions | 811 | 636 | 175 | 28 |
| Other expenses | 892 | 1,082 | (190) | (18) |
| Total noninterest expense | $14,826 | $14,037 | $789 | 6% |
Noninterest expense for the second quarter of 2026 increased year-over-year, primarily due to higher salaries and employee benefits, and increased occupancy and equipment.
Salaries and employee benefits for the second quarter of 2026 increased $658 thousand, or 7%, mainly driven by staffing growth and annual salary adjustments effective April 2026.
Occupancy and equipment for the second quarter of 2026 increased $317 thousand, or 20%, primarily due to the expiration of a common-area-maintenance concession on a lease that benefited the prior period.
The following table presents the components of noninterest expense for the first half of 2026 and 2025:
| Six Months Ended June 30, | ||||
|---|---|---|---|---|
| ($ in thousands) | 2026 | 2025 | $ Change | % Change |
| Noninterest expense: | ||||
| Salaries and employee benefits | $19,009 | $17,851 | $1,158 | 6% |
| Occupancy and equipment | 3,712 | 3,165 | 547 | 17 |
| Data processing and communication | 791 | 602 | 189 | 31 |
| Professional fees | 853 | 825 | 28 | 3 |
| FDIC insurance and regulatory assessments | 805 | 993 | (188) | (19) |
| Promotion and advertising | 224 | 388 | (164) | (42) |
| Directors' fees | 308 | 378 | (70) | (19) |
| Foundation donation and other contributions | 1,536 | 1,192 | 344 | 29 |
| Other expenses | 1,821 | 2,457 | (636) | (26) |
| Total noninterest expense | $29,059 | $27,851 | $1,208 | 4% |
Noninterest expense for the first half 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 half of 2026 increased $1.2 million, or 6%, primarily due to higher staffing levels to support business growth, annual salary adjustments, and increased health insurance costs.
Occupancy and equipment for the first half of 2026 increased $547 thousand, or 17%, primarily due to the expiration of the common-area-maintenance concession on a lease that benefited the prior period, as well as increased software licensing and maintenance costs to support business growth and operations.
Other expenses for the first half of 2026 decreased $636 thousand, or 26%, primarily due to lower customer service expenses following the previously discussed currency exchange account closures.
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