OP Bancorp
0.0 %
26.95 %
Yet to be announced
Company Overview
OP Bancorp operates as the bank holding company for Open Bank. It offers demand, checking, savings, money market, and time deposit accounts. The company also provides commercial real estate, small business administration, commercial and industrial business, single-family residential, term, consumer, and home mortgage loans.
Revenue Sources
Based on the financial data provided, OP Bancorp primarily generates its revenue from banking operations and lending activities. Banking and lending for profit are considered haram activities in Islamic finance.
Reliance on Interest
| Reporting Date | Total Revenue | Total Expense | Interest Income | Interest Expense | Interest Income Ratio | Interest Expense Ratio |
|---|---|---|---|---|---|---|
| Sept. 30, 2024 | $20.75m | $18.79m | $16.51m | $18.79m | 79.56% | 100.00% |
| June 30, 2024 | $20.38m | $18.16m | $16.19m | $18.16m | 79.47% | 100.00% |
| March 31, 2024 | $19.57m | $16.93m | $15.98m | $16.93m | 81.67% | 100.00% |
| Dec. 31, 2023 | $19.91m | $15.55m | $16.23m | $15.55m | 81.52% | 100.00% |
Analysis of the last four quarters shows that interest income and interest expense form a substantial portion of OP Bancorp's business model. Interest income represents approximately 80% of total revenue across all quarters, while interest expense constitutes over 90% of total expenses. These ratios clearly indicate that interest-based operations are central to the company's business model.
Operational Ethics
Based on available information from SEC filings and company materials, there is no evidence of significant ongoing associations with entities involved in human rights violations.
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