Exhibit 99.1 News Release
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, CA (October 22, 2026) — 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.

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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.

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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.

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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

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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.

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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

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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.

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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		%

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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)

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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.

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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.

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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.

12

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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.

Contact

Investor Relations

OP Bancorp

Jaehyun Park

EVP & CFO

213.593.4865

jaehyun.park@myopenbank.com

13

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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

14

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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.

15

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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.

16

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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.

17

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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

18

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						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.

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