Page 1

2021 Third Quarter Highlights compared with 2020 Third Quarter : • Financial Results : Net income of $ 8.3 million , up $ 4.7 million , or 129 % Diluted earnings per share of $ 0.54 , up $ 0.31 , or 135 % Net interest income of $ 16.6 million , up $ 5.2 million , or 45 % open bank Banking Together , Sharing Together OP BANCORP REPORTS NET INCOME FOR THIRD QUARTER 2021 OF $ 8.3 MILLION AND DILUTED EARNINGS PER SHARE OF $ 0.54 Reversal of provision for loan losses of $ 884 thousand , a $ 2.3 million decrease in provision for loan losses Noninterest income of $ 3.5 million , up $ 521 thousand , or 17 % Noninterest expense of $ 9.5 million , up $ 1.5 million , or 19 % Pre - provision net revenue ( ¹ ) of $ 10.6 million , up $ 4.2 million , or 64 % Total assets of $ 1.68 billion , up $ 340.1 million , or 25 % Total loans ( 2 ) of $ 1.33 billion , up $ 212.1 million , or 19 % ; Average loans ( 2 ) of $ 1.31 billion , up $ 246.2 million , or 23 % Total deposits of $ 1.50 billion , up $ 326.2 million , or 28 % ; Average deposits of $ 1.45 billion , up $ 323.9 million , or 29 % Noninterest - bearing deposits to total deposits of 48 % , up from 42 % Net interest margin of 4.21 % , up from 3.66 % Return on average equity of 21.30 % , up from 10.22 % Return on average assets of 2.03 % , up from 1.11 % Efficiency ratio of 47.28 % , an improvement from 55.31 % • Credit Quality : Allowance for loan losses to gross loans of 1.15 % , compared to 1.32 % Adjusted allowance to gross loans ( 1 ) of 1.34 % , compared to 1.40 % Net loan ( recoveries ) charge - offs to average gross loans remained minimal at zero percent . Nonperforming loans to gross loans of 0.09 % , compared to 0.03 % Criticized loans ( 3 ) to gross loans of 0.18 % , down from 0.63 % Capital Levels : Quarterly cash dividend of $ 0.10 per share , a 43 % increase from $ 0.07 per share Capital position remained well - capitalized with a Common Equity Tier 1 ( " CET1 " ) ratio of 12.63 % . Book value per common share of $ 10.48 , up 12 % Returned $ 1.5 million of capital to shareholders through cash dividend ( 1 ) See reconciliation of GAAP to non - GAAP financial measures . ( 2 ) Includes loans held for sale . ( 3 ) Includes special mention , substandard , doubtful , and loss categories . 1 Exhibit 99.1