IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank (“Opus”) (NASDAQ: OPB) announced today the launch of its Public Finance division, which will provide senior financing solutions to municipalities including cities, counties, school districts, water and sanitation agencies, special districts, and charter schools; and essential service not-for-profit organizations in the healthcare, public services, and education sectors. Opus Bank additionally announced today that Dmitry Semenov has joined Opus as Senior Managing Director, Head of Public Finance to launch and lead the new division.
Stephen H. Gordon, Founding Chairman, Chief Executive Officer and President of Opus Bank stated, “Opus has achieved considerable success developing relationships and providing banking deposit products, services, and solutions to local municipalities in and around our footprint and distribution. The formation of our new Public Finance division is a natural synergistic extension of that success.” Gordon added, “We are pleased to welcome Dmitry as he joins Opus to lead our Public Finance division. Dmitry is a highly-regarded and experienced banker with unique expertise in structuring and delivering financing solutions to municipalities and government entities such as counties, cities, townships, housing authorities, community colleges, charter schools and school districts, as well as other public agencies and entities.” Gordon concluded, “We expect that under Dmitry’s leadership, Opus’ Public Finance division will achieve considerable success building and growing its client base as we further leverage our deep banking presence up and down the West Coast.”
Mr. Semenov joins Opus Bank most recently from Umpqua Bank, where he served as Vice President, Public Finance and focused on developing client relationships with local municipalities and government agencies, and education and healthcare systems. From 2009 to 2011, Mr. Semenov served as Assistant Vice President, Commercial Real Estate with River City Bank, where he managed a commercial real estate loan portfolio, managed work-outs, negotiated financing modifications, and performed in-depth analysis on a portfolio of special credits. Prior to Mr. Semenov’s banking experience, he spent over a decade working in finance and entitlement sectors of the real estate development industry with a focus on delivering public infrastructure and services to new communities, and was the planning director for a new city that was being designed to accommodate 150,000 residents and 60,000 jobs. Mr. Semenov holds a BA in Economics from the Plekhanov University of Economics in Moscow, Russia and an MBA from the University of California, Davis.
About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $7.5 billion of total assets, $6.1 billion of total loans, and $6.2 billion in total deposits as of June 30, 2016. 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, healthcare, media and entertainment, corporate finance, multifamily residential, commercial real estate, and structured finance, and is an SBA preferred lender. Opus Bank offers commercial escrow services and facilitates 1031 Exchange transactions through its Escrow and Exchange divisions. Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy, and performance improvement through its Merchant Banking division and its broker-dealer subsidiary, Opus Financial Partners. Opus Bank’s subsidiary, PENSCO Trust Company, is a leading tech-enabled alternative asset IRA custodian with over $12 billion of custodial assets and over 48,000 client accounts, which are comprised of self-directed investors, financial institutions, capital raisers, and financial advisors. Opus Bank operates 56 banking offices, including 32 in California, 21 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona, and one in Portland, Oregon. Opus Bank is an Equal Housing Lender. For additional information about Opus Bank, please visit our website: www.opusbank.com.
Forward-Looking Statements
This release may include forward-looking statements related to Opus’ plans, beliefs and goals, which involve certain risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. 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 undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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