$OPBK
OP Bancorp

2018 Q3 Form 10-Q Financial Statement

#000156459018029294 Filed on November 13, 2018

View on sec.gov

Income Statement

Concept 2018 Q3 2017 Q3
Revenue $13.01M $10.42M
YoY Change 24.83%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $273.0K $249.1K
YoY Change 9.59% -69.25%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $2.521M $1.211M
YoY Change 108.18%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $4.625M $4.441M
YoY Change 4.14% 29.1%
Income Tax $1.144M $1.713M
% Of Pretax Income 24.74% 38.57%
Net Earnings $3.481M $2.728M
YoY Change 27.6% 33.07%
Net Earnings / Revenue 26.76% 26.18%
Basic Earnings Per Share $0.22 $0.20
Diluted Earnings Per Share $0.21 $0.19
COMMON SHARES
Basic Shares Outstanding 15.71M 13.13M
Diluted Shares Outstanding 16.23M 13.56M

Balance Sheet

Concept 2018 Q3 2017 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $95.79M $53.96M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $4.800M $4.400M
YoY Change 9.09%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $4.300M $4.200M
YoY Change 2.38%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.035B $879.1M
YoY Change 17.74%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.200M $400.0K
YoY Change 200.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.200M $400.0K
YoY Change 200.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $12.00M $9.700M
YoY Change 23.71%
Total Long-Term Liabilities $12.00M $9.700M
YoY Change 23.71%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.200M $400.0K
Total Long-Term Liabilities $12.00M $9.700M
Total Liabilities $910.1M $789.6M
YoY Change 15.25%
SHAREHOLDERS EQUITY
Retained Earnings $29.11M
YoY Change
Common Stock $91.01M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $125.0M $89.48M
YoY Change
Total Liabilities & Shareholders Equity $1.035B $879.1M
YoY Change 17.74%

Cashflow Statement

Concept 2018 Q3 2017 Q3
OPERATING ACTIVITIES
Net Income $3.481M $2.728M
YoY Change 27.6% 33.07%
Depreciation, Depletion And Amortization $273.0K $249.1K
YoY Change 9.59% -69.25%
Cash From Operating Activities $12.33M -$5.440M
YoY Change -326.65% -153.44%
INVESTING ACTIVITIES
Capital Expenditures -$210.0K -$30.00K
YoY Change 600.0% -86.96%
Acquisitions
YoY Change
Other Investing Activities -$26.22M -$44.68M
YoY Change -41.32% -61.02%
Cash From Investing Activities -$26.43M -$44.72M
YoY Change -40.9% -61.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 48.64M 36.59M
YoY Change 32.93% -62.38%
NET CHANGE
Cash From Operating Activities 12.33M -5.440M
Cash From Investing Activities -26.43M -44.72M
Cash From Financing Activities 48.64M 36.59M
Net Change In Cash 34.54M -13.57M
YoY Change -354.53% 83.13%
FREE CASH FLOW
Cash From Operating Activities $12.33M -$5.440M
Capital Expenditures -$210.0K -$30.00K
Free Cash Flow $12.54M -$5.410M
YoY Change -331.79% -151.97%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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AvailableForSaleSecurities
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CY2017Q4 us-gaap Available For Sale Securities
AvailableForSaleSecurities
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us-gaap Provision For Loan Losses Expensed
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CY2017Q4 us-gaap Bank Owned Life Insurance
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CY2018Q3 us-gaap Servicing Asset
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CY2017Q4 us-gaap Servicing Asset
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CY2018Q3 us-gaap Bank Owned Life Insurance
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CY2018Q3 us-gaap Deferred Tax Assets Net
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CY2017Q4 us-gaap Deferred Tax Assets Net
DeferredTaxAssetsNet
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CY2017Q4 us-gaap Interest Payable Current And Noncurrent
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opbk Noninterest Expense Promotion And Advertising
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us-gaap Noninterest Expense Directors Fees
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opbk Noninterest Expense Promotion And Advertising
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us-gaap Noninterest Expense Directors Fees
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opbk Noninterest Expense Foundation Donation And Other Contributions
NoninterestExpenseFoundationDonationAndOtherContributions
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us-gaap Information Technology And Data Processing
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us-gaap Professional Fees
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us-gaap Professional Fees
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us-gaap Interest Income Expense After Provision For Loan Loss
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us-gaap Interest Income Expense After Provision For Loan Loss
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Assets
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CY2017Q4 us-gaap Assets
Assets
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CY2018Q3 us-gaap Noninterest Bearing Deposit Liabilities
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CY2017Q4 us-gaap Deposits Savings Deposits
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CY2018Q3 us-gaap Time Deposits At Or Above Fdic Insurance Limit
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Deposits
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us-gaap Other Interest And Dividend Income
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us-gaap Interest Expense Borrowings
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us-gaap Provision For Loan Losses Expensed
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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opbk Loan Servicing Fees Net Of Amortization
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us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Provision For Loan And Lease Losses
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us-gaap Provision For Loan And Lease Losses
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us-gaap Gain Loss On Sales Of Loans Net
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us-gaap Noninterest Income Other
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us-gaap Noninterest Income
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us-gaap Labor And Related Expense
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us-gaap Labor And Related Expense
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us-gaap Occupancy Net
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us-gaap Federal Deposit Insurance Corporation Premium Expense
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us-gaap Earnings Per Share Basic
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us-gaap Payments For Proceeds From Loans And Leases
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us-gaap Earnings Per Share Diluted
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us-gaap Earnings Per Share Diluted
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us-gaap Payments For Origination And Purchases Of Loans Held For Sale
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us-gaap Nature Of Operations
NatureOfOperations
<div> <p style="margin-top:12pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;"><font style="Background-color:#FFFFFF;">Note </font><font style="color:#000000;">1. Business Description</font></p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:2.27%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="Background-color:#FFFFFF;">OP Bancorp (the &#8220;Company&#8221;) is a California corporation whose common stock is quoted on the Nasdaq Global Market under the ticker symbol, &#8220;OPBK.&#8221; The Company was formed to acquire 100% of the voting equity of Open Bank (the &#8220;Bank&#8221;) and commenced operation as a bank holding company on June 1, 2016. This transaction was treated as an internal reorganization as all shareholders of the Bank became shareholders of the Company. The Company has no operations other than ownership of the Bank. The Bank is a California state-chartered and FDIC-insured financial institution, which began its operations on June 10, 2005. Headquartered in downtown Los Angeles, California, the Company operates primarily in the traditional banking business arena that includes accepting deposits and making loans and investments. The Company&#8217;s primary deposit products are demand and time deposits, and the primary lending products are commercial business loans to small to medium sized businesses. The Company is operating with eight full service branches in Downtown Los Angeles, Los Angeles Fashion District, Los Angeles Koreatown, Gardena, Buena Park and Santa Clara. The Company also has three loan production offices in Seattle, Washington, Dallas, Texas, and Atlanta, Georgia.</font></p> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;text-indent:2.27%;color:#000000;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="Background-color:#FFFFFF;">On March 27, 2018, the Company completed its initial public offering of common stock, pursuant to which an aggregate of 2,300,000 shares of its common stock were sold at a public offering price of $11.00 per share, for aggregate net proceeds of approximately $22.6 million, after deducting underwriter discounts and commissions paid by it of approximately $1.7 million and other offering expenses of approximately $925,000. There has been no material change in the planned use of proceeds from the initial public offering as described in the Company&#8217;s Prospectus.</font></p></div>
CY2018Q3 opbk Number Of Loan Production Offices
NumberOfLoanProductionOffices
3
CY2017Q3 us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
us-gaap Income Tax Examination Penalties And Interest Expense
IncomeTaxExaminationPenaltiesAndInterestExpense
0
CY2018Q3 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
47790767
us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
1466609
CY2017Q4 us-gaap Available For Sale Securities Amortized Cost
AvailableForSaleSecuritiesAmortizedCost
42075426
CY2017 us-gaap Available For Sale Securities Gross Unrealized Gains
AvailableForSaleSecuritiesGrossUnrealizedGains
2001
us-gaap Use Of Estimates
UseOfEstimates
<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;text-indent:2.27%;"><font style="Background-color:#FFFFFF;">Use of Estimates:</font><font style="Background-color:#FFFFFF;font-weight:normal;">&nbsp;&nbsp;To prepare financial statements in conformity with GAAP, management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ.</font></p></div>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;text-indent:2.27%;"><font style="Background-color:#FFFFFF;">Concentration of Risk:</font><font style="Background-color:#FFFFFF;font-weight:normal;">&nbsp;&nbsp;Most of the Company&#8217;s customers are located within Los Angeles County and the surrounding area. The concentration of loans originated in this area may subject the Company to the risk of adverse impacts of economic, regulatory or other developments that could occur in Southern California.&nbsp;&nbsp;The Company has significant concentration in commercial real estate loans. The Company obtains what it believes to be sufficient collateral to secure potential losses. The extent and value of the collateral obtained varies based upon the details underlying each loan agreement.</font></p></div>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div> <p style="text-align:justify;margin-top:12pt;margin-bottom:0pt;font-weight:bold;color:#000000;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;text-indent:2.27%;"><font style="Background-color:#FFFFFF;">Reclassifications:</font><font style="Background-color:#FFFFFF;font-weight:normal;">&nbsp;&nbsp;Some items in the prior period financial statements were reclassified to conform to the current presentation.&nbsp;&nbsp;Reclassification had no effect on prior year net income or shareholders&#8217; equity.</font></p></div>
us-gaap Operations Commenced Date1
OperationsCommencedDate1
2016-06-01
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
989231
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
75895
CY2018Q3 opbk Number Of Full Service Branches
NumberOfFullServiceBranches
8
CY2017 us-gaap Available For Sale Securities Gross Unrealized Loss
AvailableForSaleSecuritiesGrossUnrealizedLoss
605716
CY2018Q3 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0
CY2017Q3 us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0
CY2018Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
999656
CY2018Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
5993050
CY2018Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
990105
CY2018Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
5876824
CY2018Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
11661943
CY2018Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
133135
CY2018Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
34662215
CY2018Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1333474
CY2018Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
46324158
CY2018Q3 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
1466609
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
24039476
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
275646
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
16431705
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
330070
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Fair Value
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionFairValue
40471181
CY2017Q4 us-gaap Available For Sale Securities Continuous Unrealized Loss Position Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionAccumulatedLoss
605716
CY2018Q3 us-gaap Federal Home Loan Bank Stock
FederalHomeLoanBankStock
4581700
CY2017Q4 us-gaap Federal Home Loan Bank Stock
FederalHomeLoanBankStock
4096500
CY2018Q3 opbk Pacific Coast Bankers Bank Stock
PacificCoastBankersBankStock
190000
CY2017Q4 opbk Pacific Coast Bankers Bank Stock
PacificCoastBankersBankStock
190000
CY2018Q3 opbk Community Reinvestment Act Qualified Mutual Fund
CommunityReinvestmentActQualifiedMutualFund
2449180
CY2018Q3 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
850018247
CY2017Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
748023901
CY2018Q3 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
840467479
CY2017Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
738884413
CY2018Q3 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
0
CY2018Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
9723431
CY2018Q3 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
438514
CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
622917
CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
11740
CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
9550768
CY2017Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
8556143
CY2017Q3 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
278148
CY2017Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
74784
CY2017Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
9139488
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
1047179
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
650840
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
14941
CY2016Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
7909682
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
86057
CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
779257
CY2017Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
353985
CY2018Q3 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
8771511
CY2017Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
8785503
CY2018Q3 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
1661455
CY2017Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
615912
CY2018Q3 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
850917625
CY2017Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
749682470
CY2018Q3 us-gaap Notes Receivable Gross
NotesReceivableGross
852579080
CY2017Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
750298382
CY2018Q3 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
1661455
CY2017Q3 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
843376
CY2018Q3 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
779257
CY2017Q3 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
843376
CY2017Q3 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
475579
CY2018Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
16381
CY2017Q3 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
11053
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
1678346
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
480355
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
46829
CY2018Q3 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
1295702
CY2018Q3 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
851283378
CY2017Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
749434600
CY2018Q3 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
852579080
CY2017Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
750298382
CY2018Q3 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
345430
CY2017Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
353985
CY2018Q3 us-gaap Allowance For Credit Losses Change In Method Of Calculating Impairment
AllowanceForCreditLossesChangeInMethodOfCalculatingImpairment
345430
CY2017Q4 us-gaap Allowance For Credit Losses Change In Method Of Calculating Impairment
AllowanceForCreditLossesChangeInMethodOfCalculatingImpairment
353985
CY2018Q3 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
0
us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
0
CY2018Q3 us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
0
us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
0
CY2018Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
10263966
CY2017Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
9231318
CY2018Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
5506487
CY2017Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4750526
CY2018Q3 us-gaap Depreciation
Depreciation
274391
CY2017Q3 us-gaap Depreciation
Depreciation
249099
us-gaap Depreciation
Depreciation
762383
us-gaap Depreciation
Depreciation
766848
CY2018Q2 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
6993723
CY2017Q2 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
6964002
CY2017Q4 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
6771097
CY2016Q4 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
6782555
CY2018Q3 us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
588267
CY2017Q3 us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
451349
us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
1620543
us-gaap Servicing Asset At Amortized Value Additions
ServicingAssetAtAmortizedValueAdditions
1405399
CY2018Q3 us-gaap Servicing Asset At Amortized Value Amortization1
ServicingAssetAtAmortizedValueAmortization1
484854
CY2017Q3 us-gaap Servicing Asset At Amortized Value Amortization1
ServicingAssetAtAmortizedValueAmortization1
458719
CY2018Q3 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
7097136
CY2017Q3 us-gaap Servicing Asset At Amortized Value
ServicingAssetAtAmortizedValue
6956632
us-gaap Servicing Asset At Amortized Value Valuation Allowance
ServicingAssetAtAmortizedValueValuationAllowance
0
us-gaap Servicing Asset At Amortized Value Valuation Allowance
ServicingAssetAtAmortizedValueValuationAllowance
0
CY2018Q3 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
8570568
CY2015Q4 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.000
CY2016Q4 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.00625
CY2017Q3 us-gaap Servicing Asset At Fair Value Amount
ServicingAssetAtFairValueAmount
8960353
CY2018Q3 us-gaap Time Deposit Maturities Remainder Of Fiscal Year
TimeDepositMaturitiesRemainderOfFiscalYear
104793369
CY2018Q3 us-gaap Time Deposit Maturities Year Two
TimeDepositMaturitiesYearTwo
239867093
CY2018Q3 us-gaap Time Deposit Maturities Year Three
TimeDepositMaturitiesYearThree
8002710
CY2018Q3 opbk Time Deposit Maturities After Year Three
TimeDepositMaturitiesAfterYearThree
833471
CY2018Q3 us-gaap Time Deposits
TimeDeposits
353496643
CY2018Q3 us-gaap Advances From Federal Home Loan Banks
AdvancesFromFederalHomeLoanBanks
0
CY2018Q3 us-gaap Line Of Credit Facility Maximum Borrowing Capacity
LineOfCreditFacilityMaximumBorrowingCapacity
49000000
CY2018Q3 us-gaap Line Of Credit
LineOfCredit
317014232
CY2018Q3 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Collateral Pledged1
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1
716399000
CY2018Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.247
CY2017Q3 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.386
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.265
us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.391
CY2018Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2017Q3 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2018Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
545486
CY2017Q3 us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
498122
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1605295
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
1451939
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
426502
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1882984
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1973590
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
2024599
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
2019572
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
5146396
CY2018Q3 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
13473643
CY2018Q3 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
FairValueDisclosureOffbalanceSheetRisksAmountLiability
66820000
CY2017Q4 us-gaap Fair Value Disclosure Offbalance Sheet Risks Amount Liability
FairValueDisclosureOffbalanceSheetRisksAmountLiability
63983000
CY2018Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
166572
CY2017Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
28395
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
606472
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
431494
CY2018Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2017Q3 us-gaap Fair Value Assets Level1 To Level2 Transfers Amount
FairValueAssetsLevel1ToLevel2TransfersAmount
0
CY2018Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2017Q3 us-gaap Fair Value Liabilities Level1 To Level2 Transfers Amount
FairValueLiabilitiesLevel1ToLevel2TransfersAmount
0
CY2018Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
CY2017Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
0
CY2018Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0
CY2017Q3 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
0
CY2018Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
95786737
CY2018Q3 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
3522564
CY2018Q3 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
835844908
CY2018Q3 opbk Accrued Interest Receivable Fair Value Disclosure
AccruedInterestReceivableFairValueDisclosure
2782502
CY2018Q3 us-gaap Deposits Fair Value Disclosure
DepositsFairValueDisclosure
896183708
CY2018Q3 opbk Accrued Interest Payable Fair Value Disclosure
AccruedInterestPayableFairValueDisclosure
1195818
CY2017Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
63249952
CY2017Q4 us-gaap Loans Held For Sale Fair Value Disclosure
LoansHeldForSaleFairValueDisclosure
17203060
CY2017Q4 us-gaap Loans Receivable Fair Value Disclosure
LoansReceivableFairValueDisclosure
731436572
CY2017Q4 opbk Accrued Interest Receivable Fair Value Disclosure
AccruedInterestReceivableFairValueDisclosure
2463486
CY2017Q4 us-gaap Deposits Fair Value Disclosure
DepositsFairValueDisclosure
773071521
CY2017Q4 us-gaap Federal Home Loan Bank Borrowings Fair Value Disclosure
FederalHomeLoanBankBorrowingsFairValueDisclosure
25000000
CY2017Q4 opbk Accrued Interest Payable Fair Value Disclosure
AccruedInterestPayableFairValueDisclosure
423239
CY2017Q4 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.0125
us-gaap Description Of Regulatory Requirements Capital Adequacy Purposes
DescriptionOfRegulatoryRequirementsCapitalAdequacyPurposes
The capital conservation buffer is being phased in from 0.0% for 2015 to 2.50% by 2019. The capital conservation buffers for 2016, 2017 and 2018 are 0.625%, 1.25% and 1.875%, respectively.
CY2018Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
106918
CY2017Q3 us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
98721
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3374545
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2629096
CY2018Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
15714226
CY2017Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13132237
CY2018Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
3374545
CY2017Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
2629096
CY2018Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
520700
CY2017Q3 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
427903
CY2018Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16234926
CY2017Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13560140
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
320191
us-gaap Undistributed Earnings Loss Allocated To Participating Securities Basic
UndistributedEarningsLossAllocatedToParticipatingSecuritiesBasic
306484
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10168574
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
7030088
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
14870232
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
13023145
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
10168574
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
7030088
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
506750
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
409601
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
15376982
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
13432746
CY2018Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0

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