July 31, 2013OPUS BANK ANNOUNCES CORPORATE AND MANAGEMENT REALIGNMENT
IRVINE, Calif. – July 31, 2013 – Opus Bank (“Opus” or the “Bank”) announced today the corporate realignment of its banking divisions, delineating the banking divisions into The Commercial Bank and The Retail Bank. The Commercial Bank will be comprised of Opus’ Commercial Business Banking, Commercial Real Estate Banking, Fiduciary Banking, Technology Banking, Healthcare Banking, and Merchant Banking divisions; and The Retail Bank will be comprised of Opus’ Retail Banking and Residential Lending divisions. Opus Bank’s Treasury Management & Payment Solutions division will support all eight banking divisions and all of Opus’ clients within both The Commercial Bank and The Retail Bank.
Concurrent with the corporate realignment, Michael Allison, Opus’ Co-President, has been named President of The Commercial Bank, and Jill Barnes, Opus’ EVP, President, Retail Banking, has been named President of The Retail Bank, as well as given the additional title of Chief Banking Officer, and named a member of Opus’ seven-person Executive Committee.
Stephen H. Gordon, Founding Chairman, Chief Executive Officer, and President of Opus Bank, stated, “Opus has experienced strong expansion over the past three years, growing from 5 banking offices to 53 up and down the West Coast, and from $275 million in total assets to $3.2 billion. We have broadened and strengthened our products, services, and solutions including the additions of Fiduciary Banking, Technology Banking, Healthcare Banking, Merchant Banking, and robust offerings provided by the Treasury Management & Payment Solutions division.” Gordon added, “By delineating Opus’ business lines into The Commercial Bank and The Retail Bank, and allowing Michael and Jill to place greater focus on the divisions for which they are directly responsible, Opus will be better positioned for continued scalable growth, leveraging off of our deeply talented and highly experienced management team across all divisions. This refinement is consistent with Opus’ commitment to a more centralized approach to generating a high percentage of client driven, cross-divisional business, which we continue to achieve by breaking down the silos and bureaucracy that exist in so many banks today.”
About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $3.2 billion of total assets, $2.4 billion of total loans, and $2.3 billion in total deposits, as of June 30, 2013. Opus Bank provides high-value, relationship-based banking products, services, and solutions to its clients comprised of small and mid-sized commercial businesses, entrepreneurs, real estate investors, professionals, and consumers. Opus Bank offers a robust suite of treasury and cash management and depository solutions, and a wide range of loan products, including commercial and industrial, SBA, commercial real estate, multifamily residential, conforming and jumbo and single-family residential loans; and is an Equal Housing Lender. Opus Bank operates 53 banking offices, including 30 banking offices in California and 23 in the Seattle/Puget Sound region in Washington. For additional information about Opus Bank, please visit our website: www.opusbank.com. To learn more about how Opus Bank is backing businesses, please visit: www.opusbank.com/Spotlight.
Mr. Stephen H. Gordon
Chairman & CEO
Mr. Jeff L. Leonard
SVP, Dir. of Corporate Strategy/Communications
Telephone: (949) 250-9800
Facsimile: (949) 250-9988
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