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Exhibit 99.1 open bank Banking Together , Sharing Together OP BANCORP REPORTS NET INCOME FOR SECOND QUARTER 2021 OF $ 6.4 MILLION AND DILUTED EARNINGS PER SHARE OF $ 0.42 2021 Second Quarter Highlights compared with 2020 second Quarter : • Loans Portfolio Purchase : ○ On May 24 , 2021 , the Company completed an asset purchase of loan portfolio from Hana Small Business Lending , Inc. ( " Hana " ) . The Company paid Hana approximately $ 97.6 million that included loans of $ 100.0 million at a fair value discount of $ 8.9 million , servicing assets of $ 6.1 million and accrued interest receivable of $ 398 thousand . Financial Results : ○ Net income of $ 6.4 million , up $ 4.0 million , or 164 % О Diluted earnings per share of $ 0.42 , up $ 0.26 , or 163 % Net interest income of $ 14.6 million , up $ 3.9 million , or 37 % Reversal of provision for loan losses of $ 1.1 million , a $ 3.1 million decrease in provision for loan losses . Noninterest income of $ 2.2 million , up $ 158 thousand , or 8 % Noninterest expense of $ 8.8 million , up $ 1.5 million , or 20 % Pre - provision net revenue ( 1 ) of $ 8.0 million , up $ 2.6 million , or 49 % Total assets of $ 1.60 billion , up $ 316.9 million , or 25 % Total loans ( 2 ) of $ 1.31 billion , up $ 262.0 million , or 25 % ; Average loans ( 2 ) of $ 1.24 billion , up $ 197.1 million , or 19 % Total deposits of $ 1.43 billion , up $ 313.4 million , or 28 % ; Average deposits of $ 1.35 billion , up $ 254.5 million , or 23 % Noninterest - bearing deposits to total deposits of 47 % , up from 38 % Net interest margin of 3.98 % , up from 3.55 % Return on average equity of 17.10 % , up from 6.97 % Return on average assets of 1.68 % , up from 0.77 % Efficiency ratio of 52.30 % , an improvement from 57.70 % Credit Quality : о ○ ○ Allowance for loan losses to gross loans of 1.18 % , down from 1.22 % Adjusted allowance to gross loans ( 1 ) of 1.46 % , up from 1.30 % Net loan charge - offs remained minimal at 0.01 % . Nonperforming loans remained flat at 0.10 % of gross loans . Capital Levels : ○ Quarterly cash dividend increased by $ 0.03 per share , or 43 % , to $ 0.10 per share from $ 0.07 per share . Capital position remained solid with a Common Equity Tier 1 ( " CET1 " ) ratio of 12.77 % . 1