IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank (“Opus”) (Nasdaq: OPB) announced today the formation of its Small Business Banking division. The new division will focus on providing revolving lines of credit, term loans, merchant card services, and treasury management and payment solutions to small businesses through dedicated, highly experienced bankers and Opus’ 60 banking offices located in major metropolitan markets on the West Coast. The Small Business Banking division will be led by Miguel Serricchio, who joined Opus in February 2012 as Senior Managing Director, President - Treasury Management and Payment Solutions.
Michael Allison, Co-President, President of the Commercial Bank, stated, “We are excited to announce the formation of our new Small Business Banking division. As one of the fastest-growing banks in the U.S. and an SBA Preferred Lender, the launch of this new division will provide small businesses with revenues up to $5 million quick decisions on efficiently structured and easy to understand lending programs and solutions, as well as greater access to deposit products and treasury and cash management services and solutions that enhance profitability, save time, offer greater convenience, and meet the unique needs of small businesses looking to expand and grow.” Allison added, “We look forward to Miguel and his dedicated and experienced team building upon new and existing client relationships and thereby positively impacting the economic vitality of those metropolitan communities Opus serves up and down the West Coast."
For additional information about small business banking products, services, and solutions offered by Opus Bank, please visit our website: www.opusbank.com/small-business-banking.
About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with over $4.0 billion of total assets, $3.2 billion of total loans, and $3.0 billion in total deposits as of March 31, 2014. Opus Bank provides high-value, relationship-based banking products, services, and solutions to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial business, healthcare, technology, multifamily residential, commercial real estate, and structured finance, and is an SBA preferred lender. Opus Bank is an Equal Housing Lender. Opus Bank operates 60 banking offices, including two in the Phoenix metropolitan area of Arizona, 34 in California and 24 in the Seattle/Puget Sound region of 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.
This press release contains “forward-looking statements.” These forward-looking statements include information, which is subject to change and subject to risks, uncertainties and assumptions. The forward-looking information presented in this press release is not a guarantee of future events, and actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. Forward-looking statements generally can be identified by the use of forward-looking terminology such as “intend” or “expect” or variations thereon or similar terminology. All such statements speak only as of the date made, and Opus Bank undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.