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Exhibit 99.1 open bank Banking Together , Sharing Together OP Bancorp Reports First Quarter Result of 2021 2021 First Quarter Highlights : • • • Net income totaled $ 5.1 million , or $ 0.33 per diluted common share , compared to $ 3.8 million , or $ 0.25 per diluted common share , for the fourth quarter of 2020 and $ 3.3 million , or $ 0.21 per diluted common share , for the first quarter of 2020 Net interest margin was 3.80 % , compared to 3.73 % for the fourth quarter of 2020 and 3.95 % for the first quarter of 2020 Return on average assets was 1.44 % and return on average equity was 14.02 % , compared to 1.13 % and 10.72 % , respectively , for the fourth quarter of 2020 and 1.12 % and 9.44 % , respectively , for the first quarter of 2020 Total assets increased 20.3 % to $ 1.46 billion at March 31 , 2021 , from $ 1.21 billion at March 31 , 2020 Net loans receivable increased 15.7 % to $ 1.14 billion at March 31 , 2021 , from $ 985.8 million at March 31 , 2020 Total deposits increased 22.2 % to $ 1.29 billion at March 31 , 2021 , from $ 1.05 billion at March 31 , 2020 Noninterest - bearing deposits accounted for 44.5 % of total deposits at March 31 , 2021 , compared to 29.0 % at March 31 , 2020 Nonperforming assets to total assets was 0.08 % at March 31 , 2021 , compared to 0.13 % at March 31 , 2020 Total risk - based capital ratio and leverage ratio were 15.04 % and 10.38 % , respectively , at March 31 , 2021 , compared to 14.78 % and 11.59 % , respectively at March 31 , 2020 The provision for loan losses was $ 620,000 , compared to $ 1.8 million for the fourth quarter of 2020 and $ 743,000 for the first quarter of 2020 The allowance for loan losses , excluding fully guaranteed SBA PPP loans , was 1.47 % of gross loans at March 31 , 2021 , compared to 1.08 % of gross loans at March 31 , 2020 Pre - provision net revenue was $ 7.8 million , compared to $ 7.2 million for the fourth quarter of 2020 and $ 5.2 million for the first quarter of 2020 Originated $ 74.2 million and 1,336 loans under the second draw of the SBA PPP loans ; and $ 22.9 million and 429 loans from the first draw of SBA PPP loans have been forgiven Remaining loan deferments under the CARES Act were 1.6 % of our loan portfolio as of March 31 , 2021 , down from 2.7 % of our loan portfolio as of December 31 , 2020 LOS ANGELES , April 22 , 2021 — OOP Bancorp ( the " Company " ) ( NASDAQ : OPBK ) , the holding company of Open Bank ( the " Bank " ) , today reported unaudited financial results for the first quarter of 2021. Net income for the first quarter of 2021 was $ 5.1 million , or $ 0.33 per diluted common share , compared to net income of $ 3.8 million , or $ 0.25 per diluted common share , for the fourth quarter of 2020 , and net income of $ 3.3 million , or $ 0.21 per diluted common share , for the first quarter of 2020 . " I am pleased to report a record quarter with the quarterly net income of $ 5.1 million . During the first quarter , we have put our priority in assisting our existing and new customers with the second draw 1