We are a bank holding company headquartered in Los Angeles, California. Our commercial banking activities are operated through Open Bank, our banking subsidiary. We offer commercial banking services to small and medium-sized businesses, their owners and retail customers with a focus on the Korean-American community. Having grown our branch and loan production office network over the past eight years, we now operate through eight full service branches located in the greater metropolitan area of Los Angeles, California, Orange County, California, and Santa Clara County, and five loan production offices in the Korean-American communities in Atlanta, Georgia, Aurora, Colorado, Dallas, Texas, and Lynnwood and Seattle, Washington. We opened our newest branch in Santa Clara, California in the second quarter of 2018, and we intend to open a full service branch in Carrollton, Texas in the second quarter of 2019.
As of December 31, 2018, we had consolidated total assets of $1.04 billion, total deposits of $ 905.2 million, total loans outstanding (net of allowance for loan losses) of $ 865.4 million, and total shareholders' equity of $129.8 million. We completed our initial public offering in March 2018 and our common stock was listed on the Nasdaq Global Market.
We believe that we provide our customers with a high degree of service, convenience and the financial products they need to achieve their financial objectives, by offering a customer-oriented product mix, competitive pricing, and convenient locations. Our lending activities are diversified and include CRE, commercial and industrial, SBA, home mortgage, and consumer loans. We generally lend in markets where we have a physical presence through our branch and loan production offices. We attract retail deposits through our branch network which offers a wide range of deposit products for business and consumer banking customers. We offer a multitude of other products and services to our customers to complement our lending and deposit business.