IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank (“Opus”) (NASDAQ: OPB) announced today that Volkan Salar has joined Opus as Senior Vice President, Senior Credit Administrator – Commercial Banking, responsible for the structuring and underwriting of senior debt financing solutions provided to Opus’ Commercial and Specialty Banking clients.
Stephen H. Gordon, founding Chairman, Chief Executive Officer, and President of Opus Bank, stated, “We are very proud to have Volkan Salar join Opus Bank’s senior credit administration team. Volkan is a highly-regarded banking veteran with a deep understanding of, and significant experience in, structuring credit products, services, and solutions for middle-market businesses and corporations.” Gordon added, “As we execute on our commercial banking focused strategy and leverage our deep banking presence up and down the West Coast, we will remain committed to strengthening and enhancing our risk management teams across our Commercial Bank, in this case building upon the talented credit administration team we already have in place.”
Mr. Salar, an eleven-year banking veteran, joins Opus Bank from BBVA Compass, where he served as Senior Vice President, Credit Products Market Manager within the Corporate Risk Management Group and oversaw the growth, risk management, and asset quality of a $2.5 billion commercial and industrial credit portfolio. Mr. Salar’s responsibilities included running the West Coast credit products team, as well as underwriting and credit approval, credit exposure and risk analysis, covenant compliance, and risk rating assessment. From 2006 to 2010, Mr. Salar served with Sterling Bank, prior to its acquisition by Comerica, most recently as Portfolio Risk Manager and oversaw the growth and ongoing portfolio management and asset quality of a $200 million commercial loan portfolio, including credit exposure and risk analysis, covenant compliance, and work-out resolutions for troubled loans. Mr. Salar holds a B.A. from Marmara University and an M.B.A. from the University of Houston, where he graduated with honors. Mr. Salar also holds a Credit Risk Certification from the Risk Management Association.
About Opus Bank
Opus Bank is an FDIC-insured California-chartered commercial bank with $7.7 billion of total assets, $6.3 billion of total loans and $6.5 billion in total deposits as of September 30, 2016. Opus Bank provides superior ideas and solutions, and banking products 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, LLC. 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.
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.