Opus Community Foundation Announces Grants Awarded to Seattle Area Nonprofits

IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank (the “Bank”) and the Opus Community Foundation (the “Foundation”) announced today that the Foundation’s Board of Directors approved grant awards to two nonprofit organizations in the Seattle/Puget Sound metropolitan area. These grants were awarded to the Boys and Girls Club of Snohomish County and Clothes for Kids, nonprofit organizations that the Bank and Foundation believe will have an immediate and long lasting impact on efforts to rebuild our communities. The initiatives that are receiving the Foundation’s financial support create opportunities that directly improve the lives of children and families.

Stephen H. Gordon, Chairman and Chief Executive Officer of Opus Bank and Chairman of the Opus Community Foundation, stated, “While Opus Bank remains focused on providing capital funding to business owners, real estate investors, and entrepreneurs who share our vision to expand and grow, our vision doesn’t stop there. The organizations with whom we’ve chosen to become partners have programs targeting specific areas of need in our communities. The programs and groups we are supporting with these grants inspire and educate the children with the most urgent needs in our communities. Through our support of the Boys and Girls Club and Clothes for Kids, we hope to have a positive impact on the lives of disadvantaged children and families.”

Katie Steele, Executive Director of the Opus Community Foundation, commented, “We are committed to supporting those nonprofits that have the programs and power to transform and improve our communities. One of the most compelling challenges is to effectively and efficiently offer support that enables children from disadvantaged families to build self-confidence, and self-esteem, while enhancing their ability to receive a better education. The two organizations that we are supporting today have programs in place that have proven to be successful year after year.”

The Opus Community Foundation awarded a grant to the Boys and Girls Club of Snohomish County to support their Power Hour after school program, which targets children, aged 6 to 18 attending schools in underserved, low-income communities. The Power Hour program is a comprehensive, after-school, educational enhancement program that implements a variety of fun activities in a structured and incentives-based program model. The Boys and Girls Club provides members with the support, resources, and guidance necessary to complete their homework, and develop a sense of confidence and ability.

The Opus Community Foundation also awarded a grant to Clothes for Kids to support their Greatest Needs program, which provides children from low income families essential clothing items such as shoes, jeans, and coats, at no cost to the student. By providing a quality wardrobe, the Greatest Needs program increases the students’ self-esteem, self-confidence, and self-sufficiency; and enhances the learning and social experience of both parent and child.

About Opus Community Foundation

The Opus Community Foundation is a private 501(c)(3) organization established by Opus Bank on September 30, 2010. The Opus Community Foundation targets its philanthropic efforts in the areas of affordable housing, community development, education, financial literacy, critical health issues, and the arts. The foundation’s goal is to stimulate economic change, promote reinvestment, inspire philanthropy, and strengthen the communities around us.

About Opus Bank

Opus Bank is an FDIC insured California-chartered commercial bank with approximately $2.2 billion of total assets, $1.3 billion of total loans, and $1.3 billion in total deposits, as of June 30, 2011, without giving effect to purchase accounting adjustments related to its recent acquisition of Cascade Bank. 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.