DEF 14A of OP Bancorp, May 16, 2025

DEF 14A of OP Bancorp

Filed May 16, 2025 · FY20240001628280-25-026193

Open on EDGAR

  1. TABLE OF CONTENTS

    | Director Compensation | 25 | | PROPOSAL 1—ELECTION OF DIRECTORS | 27 | | PROPOSAL 2—ADVISORY VOTE ON EXECUTIVE COMPENSATION | 28 | | PROPOSAL 3—ADVISORY VOTE ON FREQUENCY OF SHAREHOLDER VOTE REGARDING EXECUTIVE COMPENSATION | 29 | | PROPOSAL 4—RATIFICATION OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM | 31 | | OTHER BUSINESS | 33 | | DELINQUENT SECTION 16(A) REPORTS | 33 | | SHAREHOLDER PROPOSALS | 33 |

  2. Board of Directors

    Board of Directors Board Independence In 2024, six out of seven members of the Board of Directors were independent directors, as defined by the applicable rules and regulations of the Nasdaq Stock Market, as follows: Brian Choi, Chairman of the Board Soo Hun Jung, M.D. Hyung J. Kim Sunny Kwon Yong Sin Shin Myung Shin Sohn For our 2025 Annual Meeting, four out of seven director nominees are independent directors, as defined by the applicable rules and regulations of the Nasdaq Stock Market, as follows: Hyung J. Kim. Sunny Kwon. Yong Sin Shin. Myung Shin Sohn. Board and Committee Meeting Attendance During the fiscal year ended December 31, 2024, our Board of Directors held a total of fourteen meetings. Each incumbent director who was a director during 2024 attended each such meeting and each meeting held by the standing committees of the Board on which such director served. Director Attendance at Annual Meetings of Shareholders The Board believes it is important for all directors to attend the Annual Meeting of Shareholders in order to show their support for the Company and to provide an opportunity for shareholders to communicate any concerns to them. The Company’s policy is to encourage, but not require, attendance by each director at the Annual Meeting. All of the directors of the Company are encouraged to attend the Annual Meeting, and all directors attended the 2024 Annual Meeting. Communications with the Board Shareholders may communicate with the Board of Directors, including a committee of the Board or individual directors, by writing to the Corporate Secretary, OP Bancorp, 1000 Wilshire Boulevard, Suite 500, Los Angeles, CA 90017 or delivered via e-mail to jaehyun.park@myopenbank.com. Each communication from a shareholder should include the following information in order to permit shareholder status to be confirmed and to provide an address to forward a response if deemed appropriate: •if the person submitting the communication is a security holder, a statement of the type and amount of the securities of the Company that the person holds; •if the person submitting the communication is not a security holder and is submitting the communication to the non-management directors as an interested party, the nature of the person’s interest in the Company; •any special interest, meaning an interest not in the capacity of a shareholder of the Company, of the person in the subject matter of the communication; and •the address, telephone number and e-mail address, if any, of the person submitting the communication. Upon receipt, each communication is entered into an intake record maintained for this purpose, including the name of the person submitting the communication, the date and time of receipt of the communication, the information concerning the person submitting the communication required to accompany the communication and a brief statement of the subject matter of the communication. The record also indicates the action taken with respect to the communication. The Corporate Secretary or his personnel will review all communications to determine whether the communication satisfies the procedural requirements for submission and whether the substance of the communication is of a type that is appropriate for delivery to the Board of Directors under the criteria set forth in our procedures for communications with directors. Communications determined to be appropriate for delivery to directors, is assembled and delivered to the directors on a periodic basis. Our procedures regarding the handling of security holder communications were approved by a majority of our independent directors. Nomination of Directors The Company has a Nomination & Governance Committee. The duties of the Nomination & Governance Committee include the recommendation of candidates for election to the Company’s Board of Directors. The Nomination & Governance Committee’s minimum qualifications for a director are persons of high ethical character who have both personal and professional integrity, which is consistent with the image and values of the Company. The Corporate Governance & Nominating Committee considers some or all of the following criteria in considering candidates to serve as directors: •commitment to ethical conduct and personal and professional integrity as evidenced through the person’s business associations, service as a director or executive officer or other commitment to ethical conduct and personal and professional integrity as evidenced organizations and/or education; •objective perspective and mature judgment developed through business experiences and/or educational endeavors; •the candidate’s ability to work with other members of the Board and management to further the Company’s goals and increase shareholder value; •the ability and commitment to devote sufficient time to carry out the duties and responsibilities as a director; •experience at policy making levels in various organizations and in areas that are relevant to the Company’s activities; •the skills and experience of the potential nominee in relation to the capabilities already present on the Board; •broad experience in business, finance or administration, and familiarity with national and international business matters; •familiarity with the commercial banking industry; •prominence and reputation, and ability to enhance the reputation of the Company; •activities and associations of each candidate to ensure that there is no legal impediment, conflict of interest, or other consideration that might hinder or prevent service on the Board; •in considering diversity of the Board (in all aspects of the term) as a criteria for selecting nominees to the Board the committee shall take into account various factors and perspectives, including differences of viewpoint, high quality business and professional experience, education, skills and other individual qualities and attributes that contribute to Board heterogeneity, as well as race, gender and national origin; and •consider the impact of a material change in qualifications of a director arising from the retirement or a change in the principal occupation, position or responsibility of a director as such a change relates to continued service on the Board. The Nomination & Governance Committee does not have a separate policy for consideration of any director candidates recommended by shareholders. Instead, the Nomination & Governance Committee considers any candidate meeting the requirements for nomination by a shareholder set forth in the Company’s Bylaws (as well as applicable laws and regulations) in the same manner as any other director candidate. The Nomination & Governance Committee believes that requiring shareholder recommendations for director candidates to comply with the requirements for nominations in accordance with the Company’s Bylaws ensures that the Nomination & Governance Committee receives at least the minimum information necessary for it to begin an appropriate evaluation of any such director nominee. Section 2.4 of the Company’s Bylaws provides that any shareholder must give advance written notice to the Company of an intention to nominate a director at a shareholder meeting. Notice of intention to make any nominations must be made in writing and delivered to the Chief Executive Officer or President at the principal executive offices of the Company no more than 60 days prior to any meeting of shareholders called for the election of directors, and no more than 10 days after the date of notice of such meeting is sent to the shareholders, provided, however, that if only 10 days’ notice of the meeting is given to shareholders such notice of intention to nominate shall be received by the Chief Executive Officer or President of the Company not later than the time fixed in the notice of meeting for the opening of the meeting.

  3. Board of Directors

    Such notification shall contain the following information to the extent known to the notifying shareholder: (i) the name and address of each proposed nominee; (ii) the principal occupation of each proposed nominee; (iii) the number of shares of voting stock of the Company owned by each proposed nominee; (iv) the name and residence address of the notifying shareholder; and (v) the number of shares of voting stock of the Company owned by the notifying shareholder. Nominations not made in accordance with the Bylaws will be disregarded by the chairman of the meeting, and the inspectors of election shall then disregard all votes cast for each such nominee. Diversity of the Board of Directors In considering diversity of the Board (in all aspects of that term) as a criteria for selecting nominees in accordance with its charter, the Nomination & Governance Committee takes into account various factors and perspectives, including differences of viewpoint, high quality business and professional experience, education, skills and other individual qualities and attributes that contribute to Board heterogeneity, as well as race, gender and national origin. The Committee does not assign specific weights to particular criteria and no particular criterion is necessarily applicable to all prospective nominees. The Committee seeks persons with leadership experience in a variety of contexts and industries. The Committee believes that this expansive conceptualization of diversity is the most effective means to implement Board diversity and that it yields candidates who are best qualified to serve as directors. The Nomination & Governance Committee assesses the effectiveness of this approach as part of its annual review of its charter. Term of Office Directors serve for a one-year term or until their successors are elected. The Board does not have term limits, instead preferring to rely upon the evaluation procedures described herein as the primary methods of ensuring that each director continues to act in a manner consistent with the best interests of the shareholders and the Company. Board Committees The Board may delegate portions of its responsibilities to committees of its members. These standing committees of the Board meet at regular intervals to attend to their particular areas of responsibility. These committees include: Audit Committee, the Human Resource & Compensation Committee, and the Nomination & Governance Committee. Each member of these committees is comprised solely of independent director, as defined by the applicable rules and regulations of the Nasdaq Stock Market. The committee chair determines the agenda, the frequency and the length of the meetings and receives input from committee members. Executive Sessions Independent directors meet in executive sessions throughout the year including meeting annually to consider and act upon the recommendation of the Human Resource & Compensation Committee regarding the compensation and performance of the Chief Executive Officer. Evaluation of Board Performance A Board assessment is conducted annually in accordance with an established evaluation process and includes performance of committees. The Nomination & Governance Committee oversees this process and reviews the assessment with the full Board. Management Performance and Compensation The Human Resource and Compensation Committee reviews and approves the Chief Executive Officer’s evaluation of the top management team on an annual basis. The Board (largely through the Human Resource & Compensation Committee) evaluates the compensation plans for senior management and other employees to ensure they are appropriate, competitive and properly reflect the Company’s objectives and performance.

  4. INFORMATION ABOUT DIRECTORS AND EXECUTIVE OFFICERS

    INFORMATION ABOUT DIRECTORS AND EXECUTIVE OFFICERS

  5. Summary Compensation Table

    Summary Compensation Table The following table sets forth information regarding the compensation paid, awarded to, or earned for our fiscal years ended December 31, 2024 and 2023 for each of our named executive officers.

  6. Summary Compensation Table

    | Name and Principal Position | Year | Salary ($) | Stock Awards (1) | Non Equity Incentive Plan Compensation (2) | Other Compensation ($) (3) | Total Compensation ($) | | Min J. Kim | 2024 | $576,300 | $— | $315,900 | $23,100 | $915,300 | | President and Chief Executive Officer | 2023 | 562,185 | — | 557,300 | 27,778 | 1,147,263 | | Christine Y. Oh | 2024 | 337,461 | — | 65,700 | 22,648 | 425,809 | | Executive Vice President and Chief Financial Officer | 2023 | 324,458 | 97,200 | 112,700 | 21,868 | 556,226 | | Sang K. Oh | 2024 | 287,390 | — | 55,900 | 19,086 | 362,376 | | Executive Vice President and Chief Credit Officer | 2023 | 276,317 | — | 96,300 | 18,979 | 391,596 |

  7. Summary Compensation Table

    (1)On May 25, 2023, the Company granted 12,000 shares of stock awards to Ms. Oh. The grant date fair value was based on the number of shares granted and the closing price of the Company's stock on the grant date, which was $8.10. (2)Cash bonuses awarded under the Company's Management Incentive Plan, described below. Amounts for 2024 were determined and paid in March 2025. (3)Other Compensation for the named executive officers for our fiscal year ended December 31, 2024 includes the following:

  8. Summary Compensation Table

    | Name | Perquisites (i) | Company 401(k) Match (ii) | Total “Other Compensation” | | Min J. Kim | $2,400 | $20,700 | $23,100 | | Christine Y. Oh | 2,400 | 20,248 | 22,648 | | Sang K. Oh | 2,400 | 16,686 | 19,086 |

  9. Summary Compensation Table

    (i)Amounts reflect cell phone allowance. (ii)Amounts reflect Company matching contribution under the 401(k) Plan.

  10. Pay Versus Performance

    Pay Versus Performance The following table provides information about the relationship between compensation actually paid to our Principal Executive Officer (“PEO”), Min J. Kim and other non-PEO Named Executive Officers (“NEOs”)(1) and certain financial performance metrics of the Company using a methodology that has been prescribed by the SEC.

  11. Pay Versus Performance

    | | 2024 | 2023 | 2022 | | Summary Compensation Table (“SCT”) Total for PEO | $915,300 | $1,147,263 | $1,090,684 | | Compensation Actually Paid (“CAP”) to PEO | 883,189 | 1,081,974 | 978,301 | | Average SCT Total for Non-PEO NEOs | 408,703 | 473,911 | 482,718 | | Average Compensation Actually Paid to Non-PEO NEOs | 486,773 | 472,546 | 435,993 | | Value of Initial Fixed $100 Investment Based On Total Shareholder Return (“TSR”) | 144 | 98 | 87 | | Net Income ($ in thousands) | 21,069 | 23,918 | 33,310 | | Return on Assets (“ROA”) | 0.92% | 1.13% | 1.74% | | Return on Equity (“ROE”) | 10.68% | 13.05% | 19.57% | | Efficiency Ratio | 61.19% | 57.59% | 47.42% | | Target Return on Assets (“ROA”) | 1.01% | 1.17% | 1.70% | | Target Return on Equity (“ROE”) | 11.30% | 13.52% | 18.00% | | Target Efficiency Ratio | 57.35% | 56.64% | 46.00% |

  12. Pay Versus Performance

    (1) Non-PEO NEOs include Christine Y. Oh and Sang K. Oh. The following table presents amounts that were deducted from or added to SCT Total Compensation to calculate CAP to our PEO and average CAP to our non-PEO NEOs. The fair value of stock option awards was determined using methodologies and assumptions developed in a manner substantively consistent with those used to determine the grant date fair value of such awards.

  13. Pay Versus Performance

    | | 2024 | 2023 | 2022 | | SCT Total for PEO | $915,300 | $1,147,263 | $1,090,684 | | Equity Awards Reported in SCT | — | — | — | | Year End Fair Value of Unvested Equity Awards Granted in the Year | — | — | — | | Year over Year Change in Fair Value of Unvested Equity Awards Granted in Prior Years | — | (4,496) | (68,501) | | Year to Vesting Date Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year | (32,111) | (60,793) | (43,882) | | CAP to PEO | $883,189 | $1,081,974 | $978,301 | | Average SCT Total for Non-PEO NEOs | $408,703 | $473,911 | $482,718 | | Average Equity Awards Reported in SCT | — | (40,500) | (64,500) | | Average Year End Fair Value of Unvested Equity Awards Granted in the Year | — | 54,750 | 55,800 | | Average Year over Year Change in Fair Value of Unvested Equity Awards Granted in Prior Years | 87,480 | (2,835) | (28,800) | | Average Year to Vesting Date Change in Fair Value of Equity Awards Granted in Prior Years that Vested in the Year | (9,410) | (12,780) | (9,225) | | Average CAP to Non-PEO NEOs | $486,773 | $472,546 | $435,993 |

  14. Discussions on Pay Versus Performance

    Discussions on Pay Versus Performance Equity awards reported in SCT are based on the grant date fair values of equity awards granted during the year whereas equity awards reflected in CAP are based on the year-end fair values of unvested equity awards at year end and the vest date fair values of equity awards vested during the year. The lower CAPs to PEO compared to SCTs to PEO in 2024 and 2023 were primarily due to decreases in the Company’s stock price between respective vesting dates and prior year ends. The higher average CAP to Non-PEO NEOs compared to average SCTs for Non-PEO NEOs in 2024 was primarily due to increases in fair values of unvested equity awards granted in prior years from an increase of the Company’s stock price in 2024. The lower average CAP to Non-PEO NEOs compared to average SCTs for Non-PEO NEOs in 2023 was primarily due to a decrease in the Company’s stock price between respective vesting dates and prior year end. The decreases in the Company’s stock price in 2023 and 2022 resulted in lower CAPs compared to SCTs for 2023 and 2022. The smaller decrease in the Company’s stock price in 2023 compared to 2022 corresponded to the smaller variance between CAP and SCT in 2023 compared to that in 2022. the increases of CAP in 2023 compared to 2022 were primarily due to smaller decreases in the year over year change in fair value of unvested equity awards in 2023 driven by a smaller decrease in stock price in 2023 compared to 2022. CAP was generally in line with the Company’s actual performance against target financial performance metrics over the periods presented in the table above.

  15. Outstanding Equity Awards

    Outstanding Equity Awards The following table provides information for each of our named executive officers regarding outstanding stock awards held by the officers as of December 31, 2024.

  16. Outstanding Equity Awards

    | | Stock Awards | | | Name | Number of Shares or Units of Stock That Have Not Vested (#) (1) | Market Value of Shares or Units of Stock That Have Not Vested ($) (2) | | Christine Y. Oh | 18,000 | $284,580 | | Sang K. Oh | 18,000 | 284,580 |

  17. Outstanding Equity Awards

    (1)This column represents the unvested restricted stock units granted. With regard to 18,000 restricted stock units for Ms. Oh, 10,000 restricted stock units vest at the end of three years from the date of grant of February 24, 2022 and 12,000 restricted stock units vest 1/3rd per year from the date of grant of May 25, 2023, subject to continuing service. With regard to 18,000 restricted stock units for Mr. Oh, 45,000 restricted stock units vest 1/5th per year from the date of grant of June 24, 2021, subject to continuing service. (2)The market value of the shares of restricted stock units that have not vested is calculated by multiplying the number of shares of stock underlying the restricted stock units that have not vested by the closing price of our common stock as of December 31, 2024, which was $15.81.

  18. Director Compensation

    Director Compensation The following table sets forth compensation paid or awarded to, or earned by, each of our directors (except for Min J. Kim, whose compensation is disclosed under “—Summary Compensation Table”) during 2024. Officers do not earn additional compensation for director service to the Company or the Bank.

  19. Director Compensation

    | Name | Fees Earned or Paid in Cash ($)(1) | Stock Awards ($)(2)(3) | Total | | Brian Choi | $84,000 | $41,999 | $125,999 | | Soo Hun Jung, M.D. | 60,000 | 30,002 | 90,002 | | Hyung J. Kim | 60,000 | 30,002 | 90,002 | | Sunny Kwon | 60,000 | 30,002 | 90,002 | | Yong Sin Shin | 60,000 | 30,002 | 90,002 | | Myung Shin Sohn | 35,000 | 30,002 | 65,002 |

  20. Director Compensation

    (1)Excludes reimbursement for traveling and other expenses and stock-based expenses relating to equity awards granted in prior years under our equity plans. (2)On June 27, 2024, the Company granted an aggregate 20,646 shares of stock awards to directors (excluding Ms. Kim). The grant date fair value was based on the number of shares granted and the closing price of the Company's stock on the grant date, which was $9.30. (3)The following table presents the number of shares underlying unvested stock awards held by each of our directors as of December 31, 2024.

  21. Director Compensation

    | Name | Number of Shares Underlying Unvested Stock Awards | | Brian Choi | 4,516 | | Soo Hun Jung, M.D. | 3,226 | | Hyung J. Kim | 3,226 | | Sunny Kwon | 3,226 | | Yong Sin Shin | 3,226 | | Myung Shin Sohn | 3,226 |

  22. Director Compensation

    The Company paid fees to the non-officer directors for attendance at Board and committee meetings or for performing other services in connection with operation of the Company or the Bank. The Chairman of the Board received $7,000 per month and all other directors received $5,000 per month. Directors receive reimbursement for their out-of-pocket expenses incurred in connection with their duties as directors, including their attendance at director meetings.

  23. PROPOSAL 1—ELECTION OF DIRECTORS

    PROPOSAL 1—ELECTION OF DIRECTORS The Bylaws of the Company provide that the number of directors shall not be less than seven nor more than thirteen. The number of directors is currently fixed at seven. All of our directors serve one year terms that expire at the next following annual meeting. The Bylaws of the Company provide the procedure for nominations and election of the Board of Directors. For information on these procedures see “Corporate Governance and Board Matters—Nomination of Directors.” Nominations not made in accordance with the procedures may be disregarded by the Chairman of the Annual Meeting and upon his instructions, the inspector of election will disregard all votes cast for such nominees. The Board of Directors, upon the recommendation of the Nomination & Governance Committee, has recommended the nomination of seven individuals listed below for one year terms that will expire at the Annual Meeting to be held in 2026. Our Board of Directors has determined that of the nominees, Messrs. Kim and Sohn and Mses. Kwon and Shin are independent within the meaning of applicable Nasdaq Stock Market regulations. If any nominee should become unable or unwilling to serve as a director, the proxies will be voted at the Annual Meeting for substitute nominees designated by the Board. The Board presently has no knowledge that any of the nominees will be unable or unwilling to serve. The following provides information with respect to each individual nominated and recommended to be elected to the Board of Directors. Each individual below is also a director on the Board of Directors of Open Bank. The age indicated in each director’s biography is as of May 16, 2025. Hyung J. Kim. Mr. Kim, age 63, has served as a Board member since 2023. He is a founder and CEO of KLK Capital Management LLC, California-based investment firm. Prior to establishing his own investment firm, he served as Vice President at Merrill Lynch, with more than 20 years of experience in the finance industry. In addition to receiving his Bachelor of Arts in Chemistry from Binghamton University, he holds his Certified Financial Planner professional designation and the Financial Industry Regulatory Authority (FINRA) Series 3, 7, and 66 licenses. With his extensive knowledge and understanding of macroeconomics and finance, he contributes to the Board with historical economic trends, current headlines, and forecasting economic trends. Min J. Kim. Ms. Kim, age 65, has served as the President and Chief Executive Officer and a member of the Board of the Company and the Bank since April 2010. She has over 39 years of banking experience in the Korean banking community. Prior to joining the Bank, she served as Chief Executive Officer and President of Nara Bancorp and Nara Bank (now Bank of Hope and Hope Bancorp Inc) for three and half years assuming those positions in 2006. From 1996 to March 2006, Ms. Kim served in various executive positions with Nara Bancorp and Nara Bank, including Executive Vice President and Chief Operating Officer, Executive Vice President and Chief Credit Officer, and Senior Vice President and Chief Credit Administrator. Prior to joining Nara Bancorp and Nara Bank in 1995, Ms. Kim served in numerous positions with Hanmi Bank, including Vice President and Manager of the Western Street Branch of Hanmi Bank in Los Angeles from 1985 to 1995. Ms. Kim has a Bachelor of Sciences degree in Finance from the University of Southern California. Ms. Kim contributes to the Board her breadth of knowledge of the Company’s bank business, markets, community and culture. She provides the Board with an overall perspective of all facets of the Company’s business, financial condition and strategic direction. Sunny Kwon. Ms. Kwon, age 68, has served as a Board member since 2023. She is the President of UNI & Good Friend Insurance, an independent retail insurance brokerage in the Greater Los Angeles area. She has over 40 years of leading insurance experience within the Korean and American insurance industries. She has also been an active, founding member of KAIFPA, the Korean American Insurance and Financial Professional Association, since 1985, where she has not only held a Board Member seat since then but has been Board Chair in 2002-2003 and 2020-2022. Ms. Kwon commenced her active Member Advisory Council of United Valley Agencies in 2022. She is serving as a Board Member of the Korean American Chamber of Commerce of Orange County in 2023. Sang K. Oh. Mr. Oh, age 53, was appointed Executive Vice President and Chief Executive Officer In Transit of the Bank and the Company in August 2024. Prior to the appointment, he served as Executive Vice President and Chief Credit Officer of the Company and the Bank since October 2020. Mr. Oh has over 28 years of banking experience, all with Bank of Hope, Los Angeles, California. Prior to joining the Bank, he served as Senior Vice President and Senior Credit Administrator at Bank of Hope since 2007, and served in a various senior lending positions with Bank of Hope since 1997. Mr. Oh has a Bachelor of Arts in Business Economics with a Minor in Accounting from the University of California, Los Angeles, and is a graduate of Pacific Coast Banking School. Yong Sin Shin. Ms. Shin, age 65, has served as a Board member since the founding of the Bank in 2005. She is the President and Secretary of CJS Groups Inc (DBA Bicici & Coty Fashion), an apparel manufacturer and wholesaler in Los Angeles, California which she founded in 1994. Ms. Shin was a fashion designer and co-manager of Coty Fashion in Sao Paulo, Brazil, from 1985 to 1994. Ms. Shin obtained her Bachelor of Science in Dietary Nutrition from University of Sao Paulo, Sao Paulo, Brazil, in 1982. Ms. Shin co-founded her own manufacturing and wholesale business in Los Angeles, California and contributes to the Board her substantial business acumen developed though years of proven entrepreneurial success. Also as an active member of the Korean American Chamber of Commerce in Los Angeles she brings to the Board various business and cultural insights from the local community. Myung Shin Sohn. Mr. Sohn, age 51, has served as a Board member since 2024. He is the Managing Partner of Dow & Sohn CPAs, Professional Corporation, and has over 15 years of distinguished experience in the public accounting industry. With his deep understanding of Generally Accepted Accounting Principles (GAAP) and Generally Accepted Audit Standards (GAAS), he provides accounting, tax, and business consulting services to domestic and international companies across the United States. His expertise extends to international tax compliance issues and Korean International Financial Reporting Standards (KIFRS) allowing him to offer comprehensive solutions tailored to clients operating in a global landscape. Mr. Sohn graduated with a Master of Business Administration in Accountancy from California State University Fullerton. In addition to his professional accomplishments, he is deeply committed to making impactful contributions to the community. From 2018 to 2023, he served as a Publication and Social Networking Service (SNS) Officer at the Korean-American CPA Society of Southern California (KACPA) playing a pivotal role in advancing the organization's mission and objectives. Presently, he holds the position of Chief Financial Officer at the Korea Franchise Association USA (KFAUSA) and the Korean American United Foundation (KAUF), where he contributes significantly to the growth and success of these non-profit organizations.

  24. PROPOSAL 1—ELECTION OF DIRECTORS

    Ki Won Yoon. Ms. Yoon, age 64, has served as Executive Vice President and Chief Lending Officer since October 2013. Ms. Yoon has over 37 years of relevant lending experience, with strong ties in the Korean-American business community. Prior to joining Open Bank, Ms. Yoon was District Manager at BBCN Bank (now Bank of Hope and Hope Bancorp Inc), which she joined in 1999, and where she managed a loan portfolio of over $450 million. Ms. Yoon has a Bachelor of Arts in Food & Nutrition from Sook Myung Women’s University and is a graduate of Pacific Coast Banking School.