IRVINE, Calif. – October 28, 2011 – Opus Bank (the “Bank”) announced today that it
successfully raised an additional $100 million of new equity capital from its existing
investor base, led by Stephen H. Gordon, Opus Bank’s founding Chairman & CEO,
funds affiliated with Elliott Management Corporation, funds affiliated with Fortress
Investment Group LLC, and a fund affiliated with Starwood Capital Group.
The capital will provide additional support for the Bank’s continued growth, both
organically and through acquisitions.
Mr. Gordon commented, “The successful completion of this equity capital raise positions Opus Bank to continue our plans to grow, both organically and through
acquisitions, including the completion of the Fullerton Community Bank acquisition,
which we expect to occur on October 31, 2011.” Mr. Gordon added, “We look
forward to continuing the execution of our plan to grow into a super-regional
bank, as we partner with those small and mid-sized commercial businesses,
entrepreneurs, real estate investors, high-net-worth individuals, professionals, and
consumers who share our vision to expand and grow, create new jobs, and thereby
lead the economic turnaround up and down the West Coast.”
Patton Boggs LLP acted as legal advisor to Opus Bank on the transaction.
About Opus Bank
Opus Bank, headquartered in Irvine, CA, is an FDIC-insured California-chartered commercial bank with
$2.2 billion of total assets, $1.1 billion of total loans, and $1.4 billion in total deposits as of June 30, 2011.
Opus Bank provides high value, relationship-based banking products and exceptional service to its clients
comprised of small and mid-sized commercial businesses, entrepreneurs, real estate investors, high-net worth individuals, professionals, and consumers. Opus Bank offers a wide range of loan products,
including commercial and industrial, commercial real estate, multifamily residential, jumbo single-family
residential, and consumer loans; and is a Small Business Administration (“SBA”) Preferred Lender.
Opus Bank currently operates 30 banking offices, including 22 in the Seattle/Puget Sound region in
Washington and eight banking offices in Southern California. Opus Bank has announced plans to open
new banking offices in Danville, located in Contra Costa County; Encino, Long Beach, and West Los
Angeles, located in Los Angeles County; Irvine and Laguna Niguel, located in Orange County; Del Mar
and La Jolla, located in San Diego County, California; and Kirkland, located in King County,
Washington. On June 6, 2011, Opus Bank announced that it entered into a definitive agreement to acquire
RMG Capital Corporation (“RMG”) and its bank subsidiary, Fullerton Community Bank, FSB.
Established in 1927, Fullerton Community Bank is a federally chartered savings bank that operates seven
full service banking offices in northern Orange County, California, and has $640.3 million of total assets,
$488.7 million of total deposits, and $521.9 million of total loans, as of June 30, 2011. For additional
information about Opus Bank, please visit our website: www.opusbank.com