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OP Bancorp files for IPO

Los Angeles-based OP Bancorp has filed a preliminary prospectus for its initial public offering.

OP is the holding company of Open Bank, which largely caters to the Korean-American community. At the end of 2017, OP had $901.0 million in total assets, $773.3 million in total deposits, $738.9 million in total loans outstanding and $91.5 million in total shareholders' equity.

The company's common stock is currently quoted on the OTCQB Market. It has applied to list on the Nasdaq Global Market and hopes to retain the ticker symbol OPBK.

Keefe Bruyette & Woods serves as book-running manager in OP's IPO; D.A. Davidson & Co. is co-manager.