Yeong Gwon Pak Joins OP Bancorp as Chief Credit Officer

Yeong Gwon Pak Joins OP Bancorp as Chief Credit Officer

OP Bancorp (the “Company”) (NASDAQ: OPBK) has announced the appointment of Yeong Gwon Pak as the Executive Vice President and Chief Credit Officer of the Company and Open Bank. This key appointment showcases OP Bancorp’s commitment to strengthening its leadership team as it gears up for future growth.

Professional Background of Yeong Gwon Pak

Mr. Pak, who is 54 years old, brings a wealth of experience to his new role. He previously served as Senior Vice President and District Manager at Bank of Hope from July 2022 until December 2024. Before that, Mr. Pak held various executive positions at Commonwealth Business Bank from June 2015, including his most recent role as Executive Vice President and Chief Lending Officer. With over 20 years of banking experience, he has established a solid foothold in community banking, particularly within the greater Los Angeles area.

Expertise in Community Banking

Yeong Gwon Pak's extensive background in community banks equips him with a unique perspective and understanding of the banking needs of diverse communities. His academic credentials include a Bachelor’s degree in Molecular and Cellular Biology from the prestigious University of California, Berkeley.

CEO’s Statement on the Appointment

Min Kim, OP Bancorp’s Chief Executive Officer, expressed the Company's enthusiasm for Mr. Pak’s appointment, noting, "We are pleased to welcome Mr. Pak to our executive management team. His vast experience in community banking and his leadership skills will be essential in driving the Company and the Bank towards achieving its strategic objectives in the coming years, as we continue to expand our operations while implementing our succession plan for 2025."

Understanding OP Bancorp

OP Bancorp, the holding entity for Open Bank, operates out of California and is listed on the Nasdaq Global Market under the symbol “OPBK.” The bank is dedicated to serving the financial needs of small and medium-sized businesses, professionals, and residents, with a particular focus on supporting Korean and other ethnic minority communities, making a significant impact in these areas.

Branch and Loan Production Office Locations

Open Bank has established itself in multiple locations, operating eleven full-service branches across various neighborhoods including Downtown Los Angeles, Koreatown, and Cerritos. Additionally, the bank has loan production offices in key locations such as Pleasanton, Atlanta, and Lynnwood, among others. Its growth story began on June 10, 2005, when it commenced operations as First Standard Bank and evolved to Open Bank by 2010.

Contact Information

The headquarters of OP Bancorp can be found at 1000 Wilshire Blvd., Suite 500, Los Angeles, California. Interested parties can reach out via phone at 213.892.9999 for further information or inquiries.

Frequently Asked Questions

Who is Yeong Gwon Pak?

Yeong Gwon Pak is the newly appointed Executive Vice President and Chief Credit Officer of OP Bancorp, enhancing the leadership team.

What role did Yeong Gwon Pak hold before joining OP Bancorp?

Before joining OP Bancorp, Mr. Pak served as Senior Vice President and District Manager at Bank of Hope.

What is the focus of OP Bancorp?

OP Bancorp, through Open Bank, focuses on providing banking services to small and medium-sized businesses and ethnic minority communities.

Where are OP Bancorp's branches located?

Open Bank operates eleven branches across California and additional locations in Texas and Nevada.

How can I contact OP Bancorp?

OP Bancorp can be reached at their headquarters in Los Angeles, California, or by phone at 213.892.9999.

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