OP Bancorp Declares Quarterly Cash Dividend of $0.05 per Share

LOS ANGELES–(BUSINESS WIRE)–OP Bancorp (the “Company”) (NASDAQ: OPBK), the holding company of Open
Bank (the “Bank”), announced today that its Board of Directors declared
a quarterly cash dividend of $0.05 per share of its common stock. The
dividend is payable on or about May 24, 2019 to all shareholders of
record as of the close of business on May 10, 2019.

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 is engaged in the
general commercial banking business in Los Angeles, Orange, and Santa
Clara Counties and is focused on serving the banking needs of small- and
medium-sized businesses, professionals, and residents with a particular
emphasis on Korean and other ethnic minority communities. The Bank
currently operates with eight full branch offices in Downtown Los
Angeles, Los Angeles Fashion District, Los Angeles Koreatown, Gardena,
Buena Park, and Santa Clara. The Bank also has five loan production
offices in Atlanta, Georgia, Aurora, Colorado, Dallas, Texas, and
Lynnwood and Seattle, 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; www.myopenbank.com
Member FDIC, Equal Housing Lender.

Forward-Looking Statements

Certain matters set forth herein (including any exhibits hereto)
constitute “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995, including
forward-looking statements relating to the Company’s current business
plans and expectations regarding future operating results.
Forward-looking statements may include, but are not limited to, 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. These forward-looking
statements are subject to risks and uncertainties that could cause
actual results, performance or achievements to differ materially from
those projected. These risks and uncertainties, some of which are beyond
our control, include, but are not limited to: business and economic
conditions, particularly those affecting the financial services industry
and our primary market areas; our ability to successfully manage our
credit risk and the sufficiency of our allowance for loan loss; factors
that can impact the performance of our loan portfolio, including real
estate values and liquidity in our primary market areas, the financial
health of our commercial borrowers and the success of construction
projects that we finance; our ability to effectively execute our
strategic plan and manage our growth; interest rate fluctuations, which
could have an adverse effect on our profitability; liquidity issues,
including fluctuations in the fair value and liquidity of the securities
we hold for sale; external economic and/or market factors, such as
changes in monetary and fiscal policies and laws, including the interest
rate policies of the Federal Reserve, inflation or deflation, changes in
the demand for loans, and fluctuations in consumer spending, borrowing
and savings habits, which may have an adverse impact on our financial
condition; continued or increasing competition from other financial
institutions, credit unions, and non-bank financial services companies,
many of which are subject to different regulations than we are;
challenges arising from unsuccessful attempts to expand into new
geographic markets, products, or services; restraints on the ability of
the Bank to pay dividends to us; increased capital requirements imposed
by banking regulators, which may require us to raise capital at a time
when capital is not available on favorable terms or at all; a failure in
the internal controls we have implemented to address the risks inherent
to the business of banking; inaccuracies in our assumptions about future
events, which could result in material differences between our financial
projections and actual financial performance; changes in our management
personnel or our inability to retain motivate and hire qualified
management personnel; disruptions, security breaches, or other adverse
events, failures or interruptions in, or attacks on, our information
technology systems; disruptions, security breaches, or other adverse
events affecting the third-party vendors who perform several of our
critical processing functions; an inability to keep pace with the rate
of technological advances due to a lack of resources to invest in new
technologies; risks related to potential acquisitions; incremental costs
and obligations associated with operating as a public company; the
impact of any claims or legal actions to which we may be subject,
including any effect on our reputation; compliance with governmental and
regulatory requirements, including the Dodd-Frank Act and others
relating to banking, consumer protection, securities and tax matters,
and our ability to maintain licenses required in connection with
commercial mortgage origination, sale and servicing operations; changes
in federal tax law or policy; the affect if any of the recent federal
government shutdown on our SBA loan program; and our ability the manage
the foregoing and other factors set forth in the Company’s public
reports. We describe these and other risks that could affect our results
in Item 1A. “Risk Factors,” of our latest Annual Report on Form 10-K for
the year ended December 31, 2018 and in our other subsequent filings
with the Securities and Exchange Commission. If any of these risks or
uncertainties materializes or if any of the assumptions underlying such
forward-looking statements proves to be incorrect, our results could
differ materially from those expressed in, implied or projected by such
forward-looking statements. We assume no obligation to update such
forward-looking statements. Any forward-looking statements presented
herein are made only as of the date of this press release, and we do not
undertake any obligation to update or revise any forward-looking
statements to reflect changes in assumptions, the occurrence of
unanticipated events, or otherwise, except as required by law.

Contacts

Investor Relations
OP Bancorp
Christine Oh
EVP & CFO
213.892.1192
Christine.oh@myopenbank.com

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