OP Bancorp, the holding company of Open Bank, expects to make several personnel changes associated with the implementation of its leadership succession plan. These changes are to commence immediately and will be completed no later than June 30, 2025.
Min Kim, CEO of Open Bank, will retire after more than 40 years as a banking executive and nearly 15 years as the president and CEO of the company and the bank. Kim’s retirement will be effective as of June 30, 2025. She will continue to serve as a director of the company and the bank and, following the company’s annual meeting of shareholders scheduled to occur in June 2025, she will become the chair of the board. In that role, Kim will succeed retiring chairman Brian Choi, who will not stand for reelection to the board at the 2025 annual meeting and who will assume the role of chairman emeritus.
Succeeding Kim as CEO will be Sang K. Oh, who has served as executive vice president and chief credit officer of the company and the bank since October 2020. Before joining the bank, Oh had more than 26 years of banking experience, all with Bank of Hope in Los Angeles, California. His previous roles included service as senior vice president and senior credit administrator at Bank of Hope from 2007 to 2020 and serving in a various other lending positions. 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.
“We are delighted to recognize Min’s tremendous leadership over the past fifteen years, and equally excited that we will be able to retain her in a key leadership role as she succeeds me as non-executive chair of the board,” Choi said. “We believe that the company’s future is brighter than ever as we have begun to implement a well-considered plan to provide exceptional leadership for our organization well into the future.”
“Sang was the perfect candidate to succeed me as I retire, and I’m very pleased to have the opportunity for a gradual transition over the coming months,” Kim said. “He has an extraordinary background in credit, is well respected by our employees and our board of directors, and has the vision, insight and relationships necessary to continue growing the Open Bank franchise throughout our communities.”
