OP Bancorp Completes $25M Subordinated Notes Placement
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OP Bancorp has completed a $25 million private placement of fixed-to-floating rate subordinated notes due in 2035, aimed at strengthening regulatory capital and supporting growth. The notes will initially have a fixed interest rate of 7.50% until 2030, after which they will switch to a floating rate. The current analyst rating for OPBK stock is a Hold with a price target of $14.50. OP Bancorp operates Open Bank, focusing on commercial banking services in California, Texas, and Nevada, particularly for small and medium-sized businesses and ethnic minority communities.
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