OP Bancorp Reports Third Quarter 2026 Net Income of $7.8 Million, Diluted EPS of $0.52

compared with second quarter 2026 net income of $8.0 million, diluted EPS of $0.53, and third quarter 2025 net income of $6.7 million, diluted EPS of $0.45 Growth in net interest income; Margin expansion; Continued balance sheet growth LOS ANGELES--(BUSINESS WIRE)-- OP Bancorp (the “Company”) (NASDAQ: OPBK), parent company of Open Bank, today reported: ($ in thousands, except per share data) As of and For the Quarter Third Quarter Highlights 3Q2026 2Q2026 3Q2025 Comparisons reflect 3Q26 vs. 2Q26 Income Statement: Income Statement Net interest income $ 22,207 $ 20,068 $ 20,346 Revenue growth driven by higher net interest income. Net interest income increased, supported by continued loan growth. Higher provision reflected loan growth and changes in criticized loans. Noninterest income 5,295 5,651 4,130 Revenue 27,502 25,719 24,476 Provision for (reversal of) credit losses 1,597 (149 ) 1,175 Noninterest expense 15,512 14,826 13,629 Net income $ 7,763 $ 7,978 $ 6,703 Diluted Earnings Per Share (“EPS”) $ 0.52 $ 0.53 $ 0.45 Net interest margin (1) 3.27 % 3.08 % 3.26 % Efficiency ratio (2) 56.40 57.64 55.68 Balance Sheet: Balance Sheet Average loans (3) $ 2,334,125 $ 2,253,270 $ 2,132,230 Average loans increased 4%. Average deposits increased 4%. Average deposits 2,408,059 2,315,821 2,229,591 Credit Quality: Credit Quality Net charge-offs (1) to average gross loans 0.14 % 0.03 % 0.04 % Net charge-offs increased but remained relatively low. Allowance for credit losses on loans to gross loans 1.26 1.24 1.27 Allowance coverage remained adequate. Selected Metrics: Performance and Capital Book value per share $ 16.07 $ 15.99 $ 14.88 Book value per share continued to increase, reflecting growth in shareholders’ equity. Return on average assets ("ROAA") (1) 1.11 % 1.18 % 1.04 % ROAA and ROAE remained robust. Return on average equity ("ROAE") (1) 12.94 13.61 12.36 Shareholders' equity to asset ratio 8.54 8.70 8.47 The Company maintained a solid equity position. Tier 1 leverage ratio 9.09 9.21 9.01 Tier 1 leverage remained robust, supporting future growth. (1) Annualized. (2) Represents noninterest expense divided by the sum of net interest income and noninterest income. (3) Includes loans held-for-sale. Sang K. Oh, President and Chief Executive Officer: “We delivered solid results in the third quarter, with net income of $7.8 million and diluted EPS of $0.52. Continued loan growth supported higher net interest income and further expansion in net interest margin. Book value per share continued to increase, reflecting growth in shareholders’ equity, while we maintained appropriate capital levels. As we enter the final quarter of 2026, we remain committed to sustainable growth, disciplined risk management and operating efficiency,” said Sang K. Oh, President and Chief Executive Officer. INCOME STATEMENT HIGHLIGHTS Net Interest Income and Net Interest Margin ($ in thousands) For the Three Months Ended % Change 3Q2026 vs. 3Q2026 2Q2026 3Q2025 2Q2026 3Q2025 Interest Income Interest income $ 41,377 $ 38,193 $ 38,522 8 % 7 % Interest expense 19,170 18,125 18,176 6 5 Net interest income $ 22,207 $ 20,068 $ 20,346 11 % 9 % ($ in thousands) For the Three Months Ended Average Yield/Rate Change 3Q2026 vs. 3Q2026 2Q2026 3Q2025 Interest Income/ Expense Average Yield/Rate (1) Interest Income/ Expense Average Yield/Rate (1) Interest Income/ Expense Average Yield/Rate (1) 2Q2026 3Q2025 Interest-earning Assets: Loans $ 37,627 6.41 % $ 35,731 6.36 % $ 35,001 6.52 % 5 bps (11) bps Total interest-earning assets 41,377 6.08 38,193 5.87 38,522 6.16 21 bps (8) bps Interest-bearing Liabilities: Interest-bearing deposits 17,905 3.79 16,891 3.77 17,442 4.07 2 bps (28) bps Total interest-bearing liabilities 19,170 3.84 18,125 3.82 18,176 4.06 2 bps (22) bps Ratios: Net interest income / interest rate spreads 22,207 2.24 20,068 2.05 20,346 2.10 19 bps 14 bps Net interest margin 3.27 3.08 3.26 19 bps 1 bps Total deposits / cost of deposits 17,905 2.95 16,891 2.93 17,442 3.10 2 bps (15) bps Total funding liabilities / cost of funds 19,170 3.03 18,125 3.00 18,176 3.13 3 bps (10) bps (1) Annualized. ($ in thousands) For the Three Months Ended Average Yield Change 3Q2026 vs. 3Q2026 2Q2026 3Q2025 Interest Income Average Yield (1) Interest Income Average Yield (1) Interest Income Average Yield (1) 2Q2026 3Q2025 Loan Yield Component: Contractual interest rate $ 36,973 6.30 % $ 35,335 6.29 % $ 34,263 6.39 % 1 bps (9) bps Recurring accretion / amortization 239 0.04 226 0.04 299 0.05 — bps (1) bps Nonrecurring (2) 415 0.07 170 0.03 439 0.08 4 bps (1) bps Yield on loans $ 37,627 6.41 % $ 35,731 6.36 % $ 35,001 6.52 % 5 bps (11) bps (1) Annualized. (2) Includes nonaccrual loan interest recognized or reversed, prepayment penalties and other fees, and accelerated discounts and premiums associated with loan payoffs. Third Quarter 2026 vs. Second Quarter 2026 Net interest income increased by $2.1 million, or 11%, primarily driven by continued loan growth and the normalization of Federal Reserve Bank account income following a prior-quarter accrual adjustment. These benefits were partially offset by higher interest expense resulting from growth in average interest-bearing deposit balances. As a result, net interest margin increased by 19 basis points to 3.27%. Interest-bearing Deposits in Other Banks: Interest income increased by $1.1 million, primarily reflecting the absence of a one-time Federal Reserve Bank accrual adjustment recorded in the prior quarter, as well as higher average balances. Loans: Interest income increased by $1.9 million, driven largely by an $80.9 million or 4% increase in average loan balances, reflecting growth in CRE and home mortgage loans, along with a 5-basis-point increase in average loan yield to 6.41%. Deposits: Interest expense increased by $1.0 million, primarily due to a $76.4 million or 4% increase in average interest-bearing deposit balances, including growth in money market and time deposit accounts. Despite the higher balances, the average cost of interest-bearing deposits increased only 2 basis points to 3.79%, reflecting relatively stable funding costs during the quarter. Third Quarter 2026 vs. Third Quarter 2025 Net interest income increased by $1.9 million, or 9%, primarily driven by balance sheet growth and lower deposit rates. These favorable factors were partially offset by lower loan yields. As a result, the net interest margin increased by one basis point to 3.27%. Loans: Interest income increased by $2.6 million, largely attributable to a $201.9 million increase in average loan balances, reflecting continued growth in CRE loans. The increase was partially offset by an 11-basis-point decline in loan yields, reflecting the impact of the federal funds rate cuts during the prior year and the repricing of adjustable-rate loans and newly originated loans. Deposits: Interest expense increased by $463 thousand, mainly due to a $173.3 million increase in average interest-bearing deposit balances, driven mainly by growth in time deposits. The increase was partially offset by a 28-basis-point decline in costs of interest-bearing deposits, reflecting the repricing of time deposits and money market accounts following the federal funds rate cuts. Provision for Credit Losses ($ in thousands) For the Three Months Ended $ Change 3Q2026 vs. 3Q2026 2Q2026 3Q2025 2Q2026 3Q2025 Provision for (reversal of) credit losses on loans $ 1,557 $ (131 ) $ 1,206 $ 1,688 $ 351 Provision for (reversal of) credit losses on off-balance sheet exposure 40 (18 ) (31 ) 58 71 Provision for (reversal of) credit losses $ 1,597 $ (149 ) $ 1,175 $ 1,746 $ 422 Third Quarter 2026 vs. Second Quarter 2026 Provision for credit losses on loans increased by $1.7 million. The increase primarily reflected higher general reserve requirements associated with loan growth and changes in credit quality, including an increase in criticized loans. Higher specific reserves due to lower net collateral values of individually evaluated loans also contributed to the increase. Third Quarter 2026 vs. Third Quarter 2025 Provision for credit losses on loans increased by $351 thousand. The increase primarily reflected higher specific reserves due to lower net collateral values of individually evaluated loans and higher general reserve requirements associated with loan growth, partially offset by lower qualitative reserve requirements. Noninterest Income ($ in thousands) For the Three Months Ended % Change 3Q2026 vs. 3Q2026 2Q2026 3Q2025 2Q2026 3Q2025 Noninterest Income Service charges on deposits $ 468 $ 515 $ 725 (9 )% (35 )% Loan servicing fees, net of amortization 980 974 724 1 35 Gains on sale of loans 3,277 3,370 2,037 (3 ) 61 Other income 570 792 644 (28 ) (11 ) Total noninterest income $ 5,295 $ 5,651 $ 4,130 (6 )% 28 % Third Quarter 2026 vs. Second Quarter 2026 Noninterest income decreased by $356 thousand, or 6%, primarily driven by lower other income. Gains on Sale of Loans: Decreased by $93 thousand, primarily reflecting a lower average premium rate, partially offset by higher SBA loan sales volume. The Bank sold $51.1 million in SBA loans at an average premium rate of 8.06%, compared with $49.1 million sold at an average premium rate of 8.17% in the prior period. Other Income: Decreased by $222 thousand, mainly due to higher unrealized losses on CRA mutual funds from higher market interest rates. Third Quarter 2026 vs. Third Quarter 2025 Noninterest income increased by $1.2 million, or 28%, primarily due to higher gains on sale of loans. Gains on Sale of Loans: Increased by $1.2 million, driven by stronger SBA loan sale activity and higher premium rates. The Bank sold $51.1 million in SBA loans at an average premium rate of 8.06%, compared with $36.8 million sold at an average premium rate of 6.71% in the prior period. Noninterest Expense ($ in thousands) For the Three Months Ended % Change 3Q2026 vs. 3Q2026 2Q2026 3Q2025 2Q2026 3Q2025 Noninterest Expense Salaries and employee benefits $ 9,452 $ 9,733 $ 8,892 (3 )% 6 % Occupancy and equipment 1,827 1,901 1,676 (4 ) 9 Data processing and communication 513 380 263 35 95 Professional fees 1,129 454 419 149 169 FDIC insurance and regulatory assessments 385 387 428 (1 ) (10 ) Promotion and advertising 224 104 126 115 78 Directors’ fees 155 164 151 (5 ) 3 Foundation donation and other contributions 750 811 671 (8 ) 12 Other expenses 1,077 892 1,003 21 7 Total noninterest expense $ 15,512 $ 14,826 $ 13,629 5 % 14 % Third Quarter 2026 vs. Second Quarter 2026 Noninterest expense increased by $686 thousand, or 5%, primarily due to higher professional fees. Professional Fees: Increased by $675 thousand, primarily due to higher non-recurring legal and professional service expenses incurred during the quarter. Third Quarter 2026 vs. Third Quarter 2025 Noninterest expense increased by $1.9 million, or 14%, primarily due to higher professional fees and salaries and employee benefits. Salaries and Employee Benefits: Increased by $560 thousand, primarily due to staffing growth, annual salary adjustments effective April 2026, and higher incentive accruals associated with increased SBA loan production. Professional Fees: Increased by $710 thousand, primarily due to higher non-recurring legal and professional service expenses compared to the prior year. Income Tax Expense Third Quarter 2026 vs. Second Quarter 2026 Income tax expense decreased by $434 thousand to $2.6 million, primarily due to lower pre-tax income and a lower effective tax rate. The effective tax rate decreased to 25.3% from 27.8%, primarily due to return-to-provision adjustments associated with the prior-year tax returns. Third Quarter 2026 vs. Third Quarter 2025 Income tax expense decreased by $339 thousand to $2.6 million, primarily reflecting a lower effective tax rate, partially offset by higher pre-tax income. The effective tax rate decreased to 25.3% from 30.7%, mainly due to the absence of a one-time deferred tax asset revaluation recognized in the prior-year period and return-to-provision adjustments associated with the prior-year tax returns. BALANCE SHEET HIGHLIGHTS Loans ($ in thousands) As of % Change 3Q2026 vs. 3Q2026 2Q2026 3Q2025 2Q2026 3Q2025 CRE $ 1,199,046 $ 1,190,117 $ 1,092,808 1 % 10 % SBA 302,201 278,554 256,211 8 18 C&I 186,444 221,623 214,419 (16 ) (13 ) Home mortgage 600,017 568,512 587,641 6 2 Consumer & other 121 255 138 (53 ) (12 ) Gross loans $ 2,287,829 $ 2,259,061 $ 2,151,217 1 % 6 % The following table summarizes the loan activity for the periods indicated: ($ in thousands) For the Three Months Ended 3Q2026 2Q2026 3Q2025 Beginning Balance $ 2,259,061 $ 2,234,259 $ 2,071,580 Originations 149,094 169,340 130,695 Net change in line utilization (27,340 ) 35,399 31,167 Purchases 19,593 5,426 8,930 Sales (51,102 ) (51,907 ) (36,136 ) Payoffs & paydowns (84,652 ) (123,664 ) (71,526 ) Other 23,175 (9,792 ) 16,507 Total 28,768 24,802 79,637 Ending balance $ 2,287,829 $ 2,259,061 $ 2,151,217 As of September 30, 2026 vs. June 30, 2026 Gross loans increased by $28.8 million or 1%, primarily reflecting lower CRE payoffs, partially offset by lower line utilization in C&I loans. As of September 30, 2026 vs. September 30, 2025 Gross loans increased by $136.6 million or 6%, primarily driven by growth in CRE and SBA loans from originations, partially offset by lower line utilization in C&I loans. The following table presents loan originations and the corresponding weighted average contractual rates for the periods indicated: ($ in thousands) For the Three Months Ended % Change in Amounts 3Q2026 vs. 3Q2026 2Q2026 3Q2025 2Q2026 3Q2025 Amount Rate Amount Rate Amount Rate CRE $ 51,654 6.30 % $ 92,042 6.78 % $ 98,799 6.36 % (44 )% (48 )% SBA 29,611 7.96 32,403 7.94 15,051 8.72 (9 ) 97 C&I 14,083 6.41 8,321 7.28 9,984 6.96 69 41 Home mortgage 53,746 6.09 36,574 5.94 6,861 6.69 47 683 Gross loans (1) $ 149,094 6.56 % $ 169,340 6.85 % $ 130,695 6.69 % (12 )% 14 % (1) Excludes changes in line utilization. The following table presents the composition of gross loans by interest rate type accompanied by the weighted average contractual rates as of the periods indicated: ($ in thousands) As of 3Q2026 2Q2026 3Q2025 % Rate % Rate % Rate Fixed rate 27 % 5.78 % 28 % 5.77 % 31 % 5.61 % Hybrid rate 42 6.12 41 6.05 41 5.89 Variable rate 31 6.80 31 6.90 28 8.02 Gross loans 100 % 6.24 % 100 % 6.24 % 100 % 6.40 % The following table presents the maturity of gross loans by interest rate type accompanied by the weighted average contractual rates for the periods indicated: ($ in thousands) As of September 30, 2026 Within One Year One Year Through Five Years After Five Years Total Amount Rate Amount Rate Amount Rate Amount Rate Fixed rate $ 150,633 5.49 % $ 276,723 6.57 % $ 189,074 4.86 % $ 616,430 5.78 % Hybrid rate — — 208,068 5.71 762,455 6.23 970,523 6.12 Variable rate 112,676 7.14 179,254 6.82 408,946 6.70 700,876 6.80 Gross loans $ 263,309 6.20 % $ 664,045 6.37 % $ 1,360,475 6.18 % $ 2,287,829 6.24 % Allowance for Credit Losses The following table summarizes the activity in the allowance for credit losses for the periods presented: ($ in thousands) As of and For the Three Months Ended $ Change 3Q2026 vs. 3Q2026 2Q2026 3Q2025 2Q2026 3Q2025 Allowance for credit losses on loans, beginning $ 28,100 $ 28,406 $ 26,286 $ (306 ) $ 1,814 Provision for (reversal of) credit losses on loans 1,557 (131 ) 1,206 1,688 351 Gross charge-offs (922 ) (224 ) (195 ) (698 ) (727 ) Gross recoveries 101 49 2 52 99 Net charge-offs (821 ) (175 ) (193 ) (646 ) (628 ) Allowance for credit losses on loans, ending $ 28,836 $ 28,100 $ 27,299 $ 736 $ 1,537 Allowance for credit losses on off-balance sheet exposure, beginning $ 268 $ 286 $ 360 $ (18 ) $ (92 ) Provision for (reversal of) credit losses on off-balance sheet exposure 40 (18 ) (31 ) 58 71 Allowance for credit losses on off-balance sheet exposure, ending $ 308 $ 268 $ 329 $ 40 $ (21 ) Asset Quality ($ in thousands) As of and For the Three Months Ended % or Basis Point Change 3Q2026 vs. 3Q2026 2Q2026 3Q2025 2Q2026 3Q2025 Accruing loans 30-89 days past due $ 12,201 $ 10,486 $ 5,386 16 % 127 % As a % of gross loans 0.53 % 0.46 % 0.25 % 7 bps 28 bps Nonaccrual loans (1)(2) $ 18,032 $ 16,372 $ 12,312 10 % 46 % Loans 90 days or more past due, accruing — 892 — (100 ) — Nonperforming loans (2) 18,032 17,264 12,312 4 46 OREO — — 845 — (100 ) Nonperforming assets (2) $ 18,032 $ 17,264 $ 13,157 4 % 37 % Nonperforming loans to gross loans 0.79 % 0.76 % 0.57 % 3 bps 22 bps Nonperforming assets to gross loans & OREO 0.79 0.76 0.61 3 bps 18 bps Nonperforming assets to total assets 0.64 0.63 0.50 1 bps 14 bps Criticized loans (3)(4) by risk categories: Special mention loans $ 51,728 $ 8,834 $ 8,695 486 % 495 % Classified loans (5) 25,828 24,594 19,380 5 33 Total criticized loans $ 77,556 $ 33,428 $ 28,075 132 % 176 % Classified loans to gross loans 1.13 % 1.09 % 0.90 % 4 bps 23 bps Criticized loans to gross loans 3.39 1.48 1.31 191 bps 208 bps Allowance for credit losses ratios: As a % of gross loans 1.26 % 1.24 % 1.27 % 2 bps (1) bps As a % of nonperforming loans 160 163 222 (3 )% (62 )% As a % of nonperforming assets 160 163 207 (3 ) (47 ) As a % of classified loans 112 114 141 (2 ) (29 ) As a % of criticized loans 37 84 97 (47 ) (60 ) Net charge-offs $ 821 $ 175 $ 193 NM 325 % Net charge-offs (6) to average gross loans 0.14 0.03 0.04 11 bps 10 bps NM — Not Meaningful (1) Excludes loans held-for-sale. (2) Excludes the guaranteed portion of loans totaling $38.3 million, $30.5 million and $17.6 million as of September 30, 2026, June 30, 2026 and September 30, 2025, respectively. (3) Excludes the guaranteed portion of loans totaling $43.5 million, $35.8 million and $20.8 million as of September 30, 2026, June 30, 2026 and September 30, 2025, respectively. (4) Consists of special mention, substandard, doubtful and loss categories. (5) Consists of substandard, doubtful and loss categories. (6) Annualized. Overall credit quality remained generally sound during the quarter. We believe the allowance for credit losses on loans remained adequate at 1.26% of gross loans as of September 30, 2026. Accruing loans 30-89 days past-due increased by $1.7 million, primarily driven by two CRE loans totaling $7.7 million moving into this category, partially offset by $6.3 million of loans returning to less than 30 days past due, primarily home mortgage and SBA loans. Nonperforming loans increased by $768 thousand, primarily driven by $2.2 million of loans migrating into nonaccrual status, partially offset by a $1.1 million decrease in the balances of existing nonperforming loans. Criticized loans increased by $44.1 million, primarily driven by $45.7 million of loans newly entering the category during the quarter. The new additions were primarily CRE loans rated Special Mention. Special Mention loans increased by $42.9 million, primarily driven by four relationships totaling $41.5 million. An $8.2 million C&I relationship and a $5.9 million CRE relationship were downgraded primarily due to DCR covenant shortfalls but remain current. A $6.2 million CRE loan is in early delinquency due to sponsor liquidity constraints, while a $21.3 million CRE developer relationship in downtown Los Angeles remains current and performing, with the property being marketed for sale. Management continues to closely monitor these relationships and believes there is a viable path toward a positive resolution through repayment or credit upgrades over the next few quarters. Deposits ($ in thousands) As of % Change 3Q2026 vs. 3Q2026 2Q2026 3Q2025 Amount % Amount % Amount % 2Q2026 3Q2025 Noninterest-bearing deposits $ 539,257 22 % $ 552,300 23 % $ 543,972 24 % (2 )% (1 )% Money market deposits and others 429,464 18 426,501 18 402,891 18 1 7 Time deposits 1,461,706 60 1,389,538 59 1,326,554 58 5 10 Total deposits $ 2,430,427 100 % $ 2,368,339 100 % $ 2,273,417 100 % 3 % 7 % As of September 30, 2026 vs. June 30, 2026 Total deposits increased by $62.1 million or 3%, primarily driven by a $72.2 million increase in time deposits. The growth was primarily attributable to higher retail time deposit balances from existing customer relationships and increased wholesale funding balances. These increases were partially offset by declines in noninterest-bearing deposits. As of September 30, 2026 vs. September 30, 2025 Total deposits increased by $157.0 million or 7%, primarily driven by a $135.2 million increase in time deposits. The increase reflected continued growth in retail time deposit balances from both new and existing customer relationships, as customers continued to favor higher-yielding deposit products. Deposit growth also benefited from higher balances in wholesale time deposits and money market accounts. The following table sets forth the maturity of time deposits as of September 30, 2026: As of September 30, 2026 ($ in thousands) Within Three Months Three to Six Months Six to Nine Months Nine to Twelve Months After Twelve Months Total Time deposits (greater than $250) $ 341,630 $ 280,753 $ 101,700 $ 92,911 $ 1,596 $ 818,590 Time deposits ($250 or less) 337,435 118,740 82,771 101,517 2,653 643,116 Total time deposits $ 679,065 $ 399,493 $ 184,471 $ 194,428 $ 4,249 $ 1,461,706 Weighted average rate 3.95 % 3.89 % 3.96 % 4.12 % 3.46 % 3.96 % CAPITAL On October 22, 2026, the Company’s Board of Directors declared a quarterly cash dividend of $0.14 per share. The dividend is payable on or about November 19, 2026, to shareholders of record as of the close of business on November 5, 2026. The principal source of funds from which the Company pays dividends are the dividends received from the Bank. During the third quarter of 2026, no shares were repurchased under the repurchase program approved in August 2025. OP Bancorp (1) Open Bank (2) Applicable Requirement (2) Community Bank Leverage Ratio (“CBLR”) (2) Tier 1 leverage 9.09 10.01 8.00 Risk-Based Capital Ratios (2) : Total capital 13.52 % 13.56 % N/A Tier 1 capital 11.18 12.31 N/A CET1 capital 11.18 12.31 N/A (1) CBLR framework applies only to Open Bank, and OP Bancorp’s ratios are presented solely for information purposes. (2) Effective September 30, 2026, Open Bank elected the CBLR framework. Accordingly, Open Bank is no longer subject to the risk-based capital ratio requirements applicable under the generally applicable capital rules. Total capital, Tier 1 capital, and CET1 capital ratios are presented for informational purposes only, while the Tier 1 leverage ratio remains the primary regulatory capital measure under the CBLR framework. OP Bancorp (1) % or Basis Point Change 3Q2026 vs. 3Q2026 2Q2026 3Q2025 2Q2026 3Q2025 Risk-Based Capital Ratios: Total capital 13.52 % 13.32 % 12.17 % 20 bps 135 bps Tier 1 capital 11.18 10.98 10.92 20 bps 26 bps CET1 capital 11.18 10.98 10.92 20 bps 26 bps Tier 1 leverage 9.09 9.21 9.01 (12) bps 8 bps Risk-weighted Assets ($ in thousands) $ 2,278,084 $ 2,267,359 $ 2,126,986 0 % 7 % (1) CBLR framework applies only to Open Bank, and OP Bancorp’s ratios are presented solely for information purposes. ABOUT OP BANCORP OP Bancorp, the holding company for Open Bank (the “Bank”), is a California corporation whose common stock is quoted on the Nasdaq Global Market under the ticker symbol, “OPBK.” The Bank operates a general commercial banking business in Los Angeles, Orange, and Santa Clara Counties in California, the Dallas metropolitan area in Texas, and Clark County in Nevada, serving small- and medium-sized businesses, professionals, and local residents with a particular focus on Korean and other Asian communities. The Bank currently operates twelve full-service branch offices in Downtown Los Angeles, Los Angeles Fashion District, Los Angeles Koreatown, Cerritos, Gardena, Buena Park, Garden Grove and Santa Clara, California, Carrollton, Texas and Las Vegas, Nevada. The Bank also has one loan production office in Bellevue, Washington. The Bank commenced its operations on June 10, 2005 as First Standard Bank and changed its name to Open Bank in October 2010. Its headquarters is located at 1000 Wilshire Blvd., Suite 500, Los Angeles, California 90017. Phone: 213.892.9999; Website: www.myopenbank.com. CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS Certain matters set forth herein constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements that are not statements of historical fact are forward-looking, and readers should not construe these statements of assurances of expected or intended results, or of promises that management will take a given course of action or pursue the currently expected strategies and objectives. Forward-looking statements in this report include comments about the Company’s current business plans and expectations regarding future operating results, as well as management’s statements about expected future events and economic developments, plans, strategies and objectives. All such statements reflect the current intentions, beliefs and expectations of the Company’s executive management based on currently available information and current and expected market conditions. Forward-looking statements can sometimes be identified by the use of forward-looking language, such as “likely result in,” “expects,” “anticipates,” “estimates,” “forecasts,” “projects,” “intends to,” or may include other similar words or phrases, such as “believes,” “plans,” “trend,” “objective,” “continues,” “remains,” or similar expressions, or future or conditional verbs, such as “will,” “would,” “should,” “could,” “may,” “might,” “can,” or similar verbs. Readers should not construe these statements as assurances of a given level of performance, or as promises that we will take the actions our management currently expects. Our forward-looking statements are subject to risks and uncertainties that could cause actual results, performance or achievements to differ materially from those projected or could cause us to change plans or strategies or otherwise to take actions that differ from those we currently expect. The known risks and uncertainties that may have these effects are described in Part II, Item 1A, of our Quarterly Report on Form 10-Q for the period ended June 30, 2026 under the heading “Risk Factors”, and in our other filings with the Securities and Exchange Commission. You should read all forward-looking statements in the context of the foregoing and should not consider them to be reliable predictions of future events or as assurances of a particular level of performance or intended course of action. Any forward-looking statement speaks only as of the date on which it is made, and we do not undertake any obligation to update or review any forward-looking statement, whether as a result of new information, future developments or otherwise except as required by applicable law. CONSOLIDATED BALANCE SHEETS (unaudited) ($ in thousands, except share and per share data) As of % Change 3Q2026 vs. 3Q2026 2Q2026 3Q2025 2Q2026 3Q2025 Assets Cash and due from banks $ 21,915 $ 21,812 $ 10,931 0 % 100 % Interest-bearing deposits with other banks 220,984 153,239 155,817 44 42 Cash and cash equivalents 242,899 175,051 166,748 39 46 AFS debt securities, at fair value 187,146 202,506 200,760 (8 ) (7 ) Other investments 18,711 18,824 17,164 (1 ) 9 Loans held-for-sale 6,160 21,305 6,480 (71 ) (5 ) CRE 1,199,046 1,190,117 1,092,808 1 10 SBA 302,201 278,554 256,211 8 18 C&I 186,444 221,623 214,419 (16 ) (13 ) Home mortgage 600,017 568,512 587,641 6 2 Consumer and other 121 255 138 (53 ) (12 ) Gross loans 2,287,829 2,259,061 2,151,217 1 6 Allowance for credit losses on loans (28,836 ) (28,100 ) (27,299 ) 3 6 Net loans 2,258,993 2,230,961 2,123,918 1 6 Premises and equipment, net 5,185 5,298 6,995 (2 ) (26 ) Accrued interest receivable 10,338 10,172 10,337 2 0 Servicing assets 10,619 10,280 10,429 3 2 Company owned life insurance 24,159 23,975 23,437 1 3 Deferred tax assets, net 15,046 12,456 12,099 21 24 Other real estate owned ("OREO") — — 845 — (100 ) Operating right-of-use assets 7,733 7,732 9,347 0 (17 ) Other assets 22,446 25,746 25,655 (13 ) (13 ) Total assets $ 2,809,435 $ 2,744,306 $ 2,614,214 2 % 7 % Liabilities and Shareholders' Equity Liabilities: Noninterest-bearing $ 539,257 $ 552,300 $ 543,972 (2 )% (1 )% Money market and others 429,464 426,501 402,891 1 7 Time deposits greater than $250 818,590 746,386 667,883 10 23 Other time deposits 643,116 643,152 658,671 0 (2 ) Total deposits 2,430,427 2,368,339 2,273,417 3 7 FHLB advances 75,000 75,000 75,000 — — Subordinated note 24,650 24,629 — 0 NM Accrued interest payable 16,524 15,949 15,968 4 3 Operating lease liabilities 9,752 9,865 11,826 (1 ) (18 ) Other liabilities 13,135 11,881 16,504 11 (20 ) Total liabilities 2,569,488 2,505,663 2,392,715 3 7 Shareholders' equity: Common stock 73,018 73,018 72,984 — 0 Additional paid-in capital 12,254 12,128 11,658 1 5 Retained earnings 170,296 164,624 148,031 3 15 Accumulated other comprehensive loss, net of tax (15,621 ) (11,127 ) (11,174 ) 40 40 Total shareholders’ equity 239,947 238,643 221,499 1 8 Total liabilities and shareholders' equity $ 2,809,435 $ 2,744,306 $ 2,614,214 2 % 7 % Shares of common stock outstanding, at period-end 14,932,615 14,926,750 14,885,614 0 % 0 % Book value per share $ 16.07 $ 15.99 $ 14.88 1 % 8 % Shareholders' equity to asset ratio 8.54 % 8.70 % 8.47 % (2 )% 1 % NM — Not Meaningful CONSOLIDATED STATEMENTS OF INCOME (unaudited) ($ in thousands, except share and per share data) For the Three Months Ended Change 3Q2026 vs. 3Q2026 2Q2026 3Q2025 2Q2026 3Q2025 Interest income Interest and fees on loans $ 37,627 $ 35,731 $ 35,001 5 % 8 % Interest on AFS debt securities 1,775 1,824 1,699 (3 ) 4 Other interest income 1,975 638 1,822 210 8 Total interest income 41,377 38,193 38,522 8 7 Interest expense Interest on deposits 17,905 16,891 17,442 6 3 Interest on borrowings 775 744 734 4 6 Interest on subordinated note 490 490 — — NM Total interest expense 19,170 18,125 18,176 6 5 Net interest income 22,207 20,068 20,346 11 9 Provision for (reversal of) credit losses 1,597 (149 ) 1,175 NM 36 Net interest income after provision for credit losses 20,610 20,217 19,171 2 8 Noninterest income Service charges on deposits 468 515 725 (9 ) (35 ) Loan servicing fees, net of amortization 980 974 724 1 35 Gains on sale of loans 3,277 3,370 2,037 (3 ) 61 Other income 570 792 644 (28 ) (11 ) Total noninterest income 5,295 5,651 4,130 (6 ) 28 Noninterest expense Salaries and employee benefits 9,452 9,733 8,892 (3 ) 6 Occupancy and equipment 1,827 1,901 1,676 (4 ) 9 Data processing and communication 513 380 263 35 95 Professional fees 1,129 454 419 149 169 FDIC insurance and regulatory assessments 385 387 428 (1 ) (10 ) Promotion and advertising 224 104 126 115 78 Directors’ fees 155 164 151 (5 ) 3 Foundation donation and other contributions 750 811 671 (8 ) 12 Other expenses 1,077 892 1,003 21 7 Total noninterest expense 15,512 14,826 13,629 5 14 Income before income tax expense 10,393 11,042 9,672 (6 ) 7 Income tax expense 2,630 3,064 2,969 (14 ) (11 ) Net income $ 7,763 $ 7,978 $ 6,703 (3 )% 16 % EPS - basic $ 0.52 $ 0.54 $ 0.45 $ (0.02 ) $ 0.07 EPS - diluted 0.52 0.53 0.45 (0.01 ) 0.07 Weighted average shares: - Basic 14,932,615 14,903,398 14,885,614 0 % 0 % - Diluted 14,956,018 14,942,130 14,919,474 0 0 ROAA (1) 1.11 % 1.18 % 1.04 % (7) bps 7 bps ROAE (1) 12.94 13.61 12.36 (67) bps 58 bps Efficiency ratio (2) 56.40 57.64 55.68 (124) bps 72 bps NM — Not Meaningful (1) Annualized. (2) Represents noninterest expense divided by the sum of net interest income and noninterest income. CONSOLIDATED STATEMENTS OF INCOME (unaudited) ($ in thousands, except share and per share data) For the Nine Months Ended 3Q2026 3Q2025 Change Interest income Interest and fees on loans $ 108,237 $ 100,953 7 % Interest on AFS debt securities 5,360 4,632 16 Other interest income 4,510 5,461 (17 ) Total interest income 118,107 111,046 6 Interest expense Interest on deposits 51,641 51,525 0 Interest on borrowings 2,198 2,036 8 Interest on subordinated note 1,470 — NM Total interest expense 55,309 53,561 3 Net interest income 62,798 57,485 9 Provision for credit losses 1,860 3,117 (40 ) Net interest income after provision for credit losses 60,938 54,368 12 Noninterest income Service charges on deposits 1,446 2,742 (47 )% Loan servicing fees, net of amortization 2,676 2,631 2 Gains on sale of loans 8,697 5,497 58 Other income 2,159 2,044 6 Total noninterest income 14,978 12,914 16 Noninterest expense Salaries and employee benefits 28,461 26,743 6 Occupancy and equipment 5,539 4,841 14 Data processing and communication 1,304 865 51 Professional fees 1,982 1,244 59 FDIC insurance and regulatory assessments 1,190 1,421 (16 ) Promotion and advertising 448 514 (13 ) Directors’ fees 463 529 (12 ) Foundation donation and other contributions 2,286 1,863 23 Other expenses 2,898 3,460 (16 ) Total noninterest expense 44,571 41,480 7 Income before income tax expense 31,345 25,802 21 Income tax expense 8,370 7,206 16 Net income $ 22,975 $ 18,596 24 % EPS - basic $ 1.54 $ 1.25 $ 0.29 EPS - diluted 1.54 1.25 0.29 Weighted average shares: - Basic 14,909,133 14,867,626 0 % - Diluted 14,941,352 14,894,309 0 % ROAA (1) 1.13 % 0.99 % 14 bps ROAE (1) 13.03 11.70 133 bps Efficiency ratio (2) 57.31 58.92 (161) bps NM — Not Meaningful (1) Annualized. (2) Represents noninterest expense divided by the sum of net interest income and noninterest income. ASSET QUALITY BY LOAN TYPE ($ in thousands) 3Q2026 2Q2026 3Q2025 Accruing delinquent loans 30-89 days past due by loan type: CRE $ 6,150 $ 723 $ — SBA — 3,173 1,390 C&I — 26 617 Home mortgage — 3,152 852 Total 30-59 days 6,150 7,074 2,859 CRE 1,521 — — SBA 1,574 972 378 C&I — 77 — Home mortgage 2,956 2,363 2,149 Total 60-89 days 6,051 3,412 2,527 CRE 7,671 723 — SBA 1,574 4,145 1,768 C&I — 103 617 Home mortgage 2,956 5,515 3,001 Total accruing delinquent loans 30-89 days past due $ 12,201 $ 10,486 $ 5,386 Nonaccrual loans (1) by loan type: CRE $ 4,380 $ 3,747 $ 2,365 SBA 11,945 11,200 8,538 C&I 12 — — Home mortgage 1,695 1,425 1,409 Total nonaccrual $ 18,032 $ 16,372 $ 12,312 Criticized loans (2) by loan type: CRE $ 41,950 $ 7,217 $ 9,345 SBA 22,886 21,859 14,925 C&I 9,497 1,390 864 Home mortgage 3,223 2,962 2,941 Total criticized $ 77,556 $ 33,428 $ 28,075 (1) Excludes the guaranteed portion of loans that were in liquidation totaling $38.3 million, $30.5 million and $17.6 million as of September 30, 2026, June 30, 2026 and September 30, 2025, respectively. (2) Excludes the guaranteed portion of loans that were in liquidation totaling $43.5 million, $35.8 million and $20.8 million as of September 30, 2026, June 30, 2026 and September 30, 2025, respectively. AVERAGE BALANCE SHEET, INTEREST AND YIELD/RATE ANALYSIS For the Three Months Ended 3Q2026 2Q2026 3Q2025 ($ in thousands) Average Balance Interest Income/Expense Average Yield/Rate (1) Average Balance Interest Income/Expense Average Yield/Rate (1) Average Balance Interest Income/Expense Average Yield/Rate (1) Interest-earning assets: Interest-bearing deposits with other banks $ 153,856 $ 1,469 3.74 % $ 128,022 $ 416 1.29 % (2) $ 134,263 $ 1,502 4.38 % Other investments 18,803 506 10.76 18,531 222 4.79 17,112 320 7.48 AFS debt securities, at fair value 197,843 1,775 3.59 206,877 1,824 3.53 199,766 1,699 3.40 CRE 1,203,069 19,385 6.39 1,171,097 18,691 6.40 1,065,460 16,689 6.21 SBA 327,567 6,568 7.95 314,060 6,077 7.76 286,556 6,841 9.47 C&I 218,623 3,758 6.82 206,978 3,517 6.82 188,146 3,537 7.46 Home mortgage 584,220 7,903 5.41 560,842 7,437 5.30 591,939 7,931 5.36 Consumer and other 646 13 7.82 293 9 11.76 129 3 9.86 Loans (2) 2,334,125 37,627 6.41 2,253,270 35,731 6.36 2,132,230 35,001 6.52 Total interest-earning assets 2,704,627 41,377 6.08 2,606,700 38,193 5.87 2,483,371 38,522 6.16 Noninterest-earning assets 87,991 87,072 83,238 Total assets $ 2,792,618 $ 2,693,772 $ 2,566,609 Interest-bearing liabilities: Money market deposits and others $ 453,649 $ 3,713 3.25 % $ 404,975 $ 3,174 3.14 % $ 425,248 $ 3,793 3.54 % Time deposits 1,420,357 14,192 3.96 1,392,628 13,717 3.95 1,275,417 13,649 4.25 Total interest-bearing deposits 1,874,006 17,905 3.79 1,797,603 16,891 3.77 1,700,665 17,442 4.07 Borrowings 81,359 775 3.78 81,816 744 3.65 76,250 734 3.82 Subordinated note 24,643 490 7.95 24,622 490 7.96 — — — Total interest-bearing liabilities 1,980,008 19,170 3.84 1,904,041 18,125 3.82 1,776,915 18,176 4.06 Noninterest-bearing liabilities: Noninterest-bearing deposits 534,053 518,218 528,926 Other noninterest-bearing liabilities 38,545 36,969 43,890 Total noninterest-bearing liabilities 572,598 555,187 572,816 Shareholders’ equity 240,012 234,544 216,878 Total liabilities and shareholders’ equity $ 2,792,618 $ 2,693,772 $ 2,566,609 Net interest income / interest rate spreads $ 22,207 2.24 % $ 20,068 2.05 % $ 20,346 2.10 % Net interest margin 3.27 % 3.08 % 3.26 % Cost of deposits & cost of funds: Total deposits / cost of deposits $ 2,408,059 $ 17,905 2.95 % $ 2,315,821 $ 16,891 2.93 % $ 2,229,591 $ 17,442 3.10 % Total funding liabilities / cost of funds 2,514,061 19,170 3.03 2,422,259 18,125 3.00 2,305,841 18,176 3.13 For the Nine Months Ended 3Q2026 3Q2025 ($ in thousands) Average Balance Interest Income/ Expense Average Yield/Rate (1) Average Balance Interest Income/ Expense Average Yield/Rate (1) Interest-earning assets: Interest-bearing deposits with other banks $ 142,329 $ 3,212 2.98 % (2) $ 135,439 $ 4,522 4.40 % Other investments 18,194 1,298 9.51 16,851 939 7.43 AFS debt securities, at fair value 203,296 5,360 3.52 188,258 4,632 3.28 CRE 1,176,405 55,890 6.35 1,031,854 47,681 6.18 SBA 311,610 18,624 7.99 278,621 19,666 9.44 C&I 212,765 10,828 6.80 198,512 10,982 7.40 Home mortgage 570,146 22,848 5.34 568,811 22,612 5.30 Consumer & other 849 47 7.36 146 12 10.85 Loans (3) 2,271,775 108,237 6.37 2,077,944 100,953 6.49 Total interest-earning assets 2,635,594 118,107 5.99 2,418,492 111,046 6.13 Noninterest-earning assets 84,005 81,505 Total assets $ 2,719,599 $ 2,499,997 Interest-bearing liabilities: Money market deposits and others $ 417,510 $ 9,897 3.17 % $ 396,168 $ 10,463 3.53 % Time deposits 1,401,268 41,744 3.98 1,250,518 41,062 4.39 Total interest-bearing deposits 1,818,778 51,641 3.80 1,646,686 51,525 4.18 Borrowings 79,690 2,198 3.69 67,290 2,036 4.05 Subordinated note 24,622 1,470 7.96 — — — Total interest-bearing liabilities 1,923,090 55,309 3.85 1,713,976 53,561 4.18 Noninterest-bearing liabilities: Noninterest-bearing deposits 523,061 532,867 Other noninterest-bearing liabilities 38,419 41,198 Total noninterest-bearing liabilities 561,480 574,065 Shareholders’ equity 235,029 211,956 Total liabilities and shareholders’ equity $ 2,719,599 $ 2,499,997 Net interest income / interest rate spreads $ 62,798 2.14 % $ 57,485 1.95 % Net interest margin 3.18 % 3.17 % Cost of deposits & cost of funds: Total deposits / cost of deposits $ 2,341,839 $ 51,641 2.95 % $ 2,179,553 $ 51,525 3.16 % Total funding liabilities / cost of funds 2,446,151 55,309 3.02 2,246,843 53,561 3.19 (1) Annualized. (2) Interest income includes a one-time $739 thousand adjustment recorded during the second quarter of 2026 related to the correction of prior-period interest accruals on the Federal Reserve Bank account. (3) Includes loans held-for-sale. Investor Relations OP Bancorp Jaehyun Park EVP & CFO 213.593.4865 jaehyun.park@myopenbank.com Source: OP Bancorp