OP Bancorp (NASDAQ: OPBK), the holding company for Open Bank, today announced upcoming leadership changes as part of its succession plan. These transitions will begin immediately and are expected to be completed by June 30, 2025.
Chief Executive Officer Min Kim will retire on June 30, 2025, after over forty years in banking and nearly fifteen years as the Company and Bank’s President and CEO. Following her retirement, Ms. Kim will remain a director and will take on the role of Chair of the Board after the Company’s Annual Meeting of Shareholders in June 2025. She will succeed Brian Choi, who will retire from the Board and assume the role of Chairman Emeritus.
Sang K. Oh, 52, will succeed Ms. Kim as CEO. Mr. Oh, who has been with the Company and the Bank as Executive Vice President and Chief Credit Officer since October 2020, brings over 26 years of banking experience, primarily with Bank of Hope in Los Angeles. His prior roles included Senior Vice President and Senior Credit Administrator. Mr. Oh holds a Bachelor of Arts in Business Economics with a Minor in Accounting from the University of California, Los Angeles, and is a graduate of the Pacific Coast Banking School.
Brian Choi expressed gratitude for Ms. Kim’s leadership and congratulated her on her retirement, stating, “We are thrilled to honor Min’s exceptional leadership over the past fifteen years and are pleased that she will continue to play a vital role as non-executive Chair of the Board. We believe that our succession plan ensures the Company’s continued success.”
Ms. Kim welcomed the transition, adding, “Sang is an ideal successor for me. I’m excited about a smooth transition over the coming months. His extensive credit background, respect from employees and the Board, and his vision will drive the continued growth of the Open Bank franchise in our communities.”
