IRVINE, Calif. – October 25, 2010 – Opus Bank announced today it has entered into
a lease agreement with the Irvine Company to open a 2,601 square foot banking
office located at 7780 East Coast Highway, Newport Coast, California in the Crystal
Cove Promenade. The new banking office, scheduled to open in the second quarter
of 2011, is the first of many banking offices planned for Orange County. The Crystal
Cove Promenade banking office, which will have two ATMs, will offer a full suite
of banking products and services to small to mid-sized commercial businesses,
consumers, high-net-worth individuals, professionals, and families. The Crystal
Cove Promenade banking office is Opus Bank’s first banking office to be announced
since the September 30, 2010 successful completion of Opus Bank’s $460 million
recapitalization, and is consistent with Opus Bank’s plan to grow both organically
and through acquisitions throughout the Western Region.
Crystal Cove Promenade is located at the base of the high-end residential
development of Crystal Cove, which is at the hub of Newport Coast, Laguna Beach,
Corona del Mar and Newport Beach. Newport
Coast is one of the most affluent areas in California with a median household income
of $176,589, for the
53,000 residents living within a 10 minute drive of the center. The new banking
office will be located in a free standing building adjacent to the Pacific Coast
Highway, and as such will be highly accessible to the community, as well as the
approximately 39,000 vehicles that pass by each day. Other Crystal Cove Promenade
businesses include Ann Taylor Loft, Starbucks, Trader Joe’s, Pacific Whey Café and
Baking Company, Gap, Banana Republic, Williams–Sonoma, Juxtaposition Home, La
Diva, Bluefin, Modo Mio Cucina Rustica, Javier’s, and Mastro’s Ocean Club.
About Opus Bank
Opus Bank is an FDIC insured California state-chartered commercial bank with estimated assets
of approximately $710 million, as of September 30, 2010. Opus Bank offers high value,
relationship-based banking products and exceptional service to small to mid-sized commercial businesses, consumers, high-net-worth individuals, professionals, and families. Opus Bank offers
a wide range of loan products, including commercial and industrial, Small Business
Administration, commercial real estate, multi-family residential, jumbo single-family residential,
construction, and consumer loans. Opus Bank operates five banking offices in Los Angeles
County, located in the communities of Manhattan Beach, Redondo Beach, Rancho Palos
Verdes/San Pedro, Rolling Hills Estates, and Torrance, and maintains an executive and
administrative office in Irvine, located in Orange County, California. For additional information
about Opus Bank, please visit our website:
www.opusbank.com.