IRVINE, California – July 28, 2011 – Stephen H. Gordon, Chairman and Chief
Executive Officer of Opus Bank appealed today to U.S. lawmakers to immediately
make the tough decisions and take the actions necessary to put an end to the
current stalemate in Washington and immediately refocus on America’s economic
recovery and financial security.
“America has experienced the impact of the last wave of economic devastation,”
Gordon said. “The trickle-down effect was precipitous and the impact shattered
the economic health of the financial system, our states and cities, businesses, and
families across America. Americans have worked too hard to recover from the last
crisis to allow irresponsible jockeying in Washington to result in another wave of
economic destruction.”
Gordon has been an advocate for well-capitalized banks to step-up and lead the
economic turnaround and he called for an end to the paralysis in Washington.
“We’ve committed to providing capital funding to businesses, entrepreneurs, real
estate investors, and families in our communities who have turned the economic
corner, proven their ability to expand, increase taxable income, and drive new jobs;
those who now need a partner for growth. It’s reprehensible that the direct actions
of our nation’s leaders could place our already fragile economic recovery
in serious jeopardy,” Gordon said. “Testing our economy’s ability to endure a U.S.
government default and credit downgrade is not an option.”
Gordon called for Washington representatives who are employed by the American
taxpayer and entrusted with the stewardship of this nation to immediately resolve
the stalemate and put America’s economic recovery first on their agenda.
About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with approximately $2.2
billion of total assets, $1.2 billion of total loans and $1.4 billion in total deposits, as of June 30,
2011, without giving effect to purchase accounting adjustments. 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 27 banking offices, including 22 in the
Seattle/Puget Sound region in Washington and five banking offices in the South Bay
communities of Los Angeles County and maintains an executive and administrative office in
Irvine, located in Orange County, California. Opus Bank has announced plans to open new
banking offices in Encino, Beverly Hills, and West Los Angeles, located in Los Angeles County;
Corona del Mar, Newport Coast, and Irvine, located in Orange County; and La Jolla, located in
San Diego County, California. 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 eight full service banking offices in northern Orange
County, California, and has $681.9 million of total assets, $511.1 million of total deposits, and
$529.3 million of total loans, as of March 31, 2011. At year-end, on a pro forma basis after the
close of the acquisition of RMG, Opus Bank is expected to have nearly $3.0 billion of total
assets and operate 42 banking offices on the West Coast. For additional information about Opus
Bank, please visit our website:
www.opusbank.com.