OPFI: net income $14.8M. OPFI wins DFPI summary judgment, completes Up-C collapse, announces bank acquisition

Filed August 10, 2026 · Period ending June 30, 2026 · Compared to 10-Q Aug 7, 2025 · ~2 min read

Key Changes

• high

  Court granted summary judgment against California DFPI, ruling OppFi was not the 'true lender' and FinWise was not a sham; DFPI appealed July 17, 2026, prolonging uncertainty over bank-partnership model's validity under California law.

  Legal Proceedings: DFPI litigation verify on EDGAR →
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  Announced pending acquisition of BNCCORP (BNC National Bank) for ~$130.7M ($69.3M cash + 6.8M shares), expected to close Q4 2026 pending regulatory approvals; would make OPFI a bank holding company with deposit funding but heightened regulatory capital and compliance requirements.

  Risk Factors & Notes: BNCC acquisition verify on EDGAR →
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  Completed corporate simplification in April 2026, collapsing Up-C structure to 100% ownership of OppFi-LLC and settling Tax Receivable Agreement for $40.8M in installment payments; eliminates noncontrolling interest and future TRA obligations.

  Notes: Corporate Simplification verify on EDGAR →