OP Bancorp
For the period ended Sep 30, 2026. Filed Nov 6, 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.
Sep 30, 2026 · Filed Nov 6, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Noninterest Expense
The following table presents the components of noninterest expense for the third quarters of 2026 and 2025:
| Three Months Ended September 30, | ||||
|---|---|---|---|---|
| ($ in thousands) | 2026 | 2025 | $ Change | % Change |
| Noninterest expense: | ||||
| Salaries and employee benefits | $9,452 | $8,892 | $560 | 6% |
| Occupancy and equipment | 1,827 | 1,676 | 151 | 9 |
| Data processing and communication | 513 | 263 | 250 | 95 |
| Professional fees | 1,129 | 419 | 710 | 169 |
| FDIC insurance and regulatory assessments | 385 | 428 | (43) | (10) |
| Promotion and advertising | 224 | 126 | 98 | 78 |
| Directors' fees | 155 | 151 | 4 | 3 |
| Foundation donation and other contributions | 750 | 671 | 79 | 12 |
| Other expenses | 1,077 | 1,003 | 74 | 7 |
| Total noninterest expense | $15,512 | $13,629 | $1,883 | 14% |
Noninterest expense for the third quarter of 2026 increased year-over-year, primarily due to higher professional fees and salaries and employee benefits.
Professional fees for the third quarter of 2026 increased $710 thousand, or 169%, primarily due to higher nonrecurring legal and professional service expenses incurred during the quarter.
Salaries and employee benefits for the third quarter of 2026 increased $560 thousand, or 6%, mainly driven by staffing growth, annual salary adjustments effective April 2026, and higher incentive accruals associated with increased SBA loan production.
The following table presents the components of noninterest expense for the first nine months of 2026 and 2025:
| Nine Months Ended September 30, | ||||
|---|---|---|---|---|
| ($ in thousands) | 2026 | 2025 | $ Change | % Change |
| Noninterest expense: | ||||
| Salaries and employee benefits | $28,461 | $26,743 | $1,718 | 6% |
| Occupancy and equipment | 5,539 | 4,841 | 698 | 14 |
| Data processing and communication | 1,304 | 865 | 439 | 51 |
| Professional fees | 1,982 | 1,244 | 738 | 59 |
| FDIC insurance and regulatory assessments | 1,190 | 1,421 | (231) | (16) |
| Promotion and advertising | 448 | 514 | (66) | (13) |
| Directors' fees | 463 | 529 | (66) | (12) |
| Foundation donation and other contributions | 2,286 | 1,863 | 423 | 23 |
| Other expenses | 2,898 | 3,460 | (562) | (16) |
| Total noninterest expense | $44,571 | $41,480 | $3,091 | 7% |
Noninterest expense for the first nine months of 2026 increased year-over-year, primarily due to higher salaries and employee benefits, professional fees and occupancy and equipment, partially offset by lower other expenses.
Salaries and employee benefits for the first nine months of 2026 increased $1.7 million, or 6%, primarily due to higher staffing levels to support business growth and annual salary adjustments.
Professional fees for the first nine months of 2026 increased $738 thousand, or 59%, primarily due to higher nonrecurring legal and professional service expenses incurred during the third quarter of 2026.
Occupancy and equipment for the first nine months of 2026 increased $698 thousand, or 14%, primarily due to the expiration of the common-area-maintenance concession on a lease that benefited the prior period.
Other expenses for the first nine months of 2026 decreased $562 thousand, or 16%, primarily due to lower customer service expenses following the previously discussed currency exchange account closures.
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