OP Bancorp, a California commercial bank primarily serving Korean-American communities, raised $22 million by offering 2.0 million shares at $11, toward the upper end of the range of $9.50 to $11.50. At $11, OP Bancorp is valued at a fully diluted market value of $175 million. The company has been thinly traded on the OTCQB under the symbol OPBK.
OP Bancorp plans to list on the Nasdaq under the symbol OPBK. Keefe Bruyette Woods acted as a lead manager on the deal.
