IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank (“Opus”) announced today that its Board of Directors has created the new role of Lead Independent Director and has appointed Director Paul G. Greig to this position, effective immediately. Mr. Greig joined Opus’ Board in April 2017 and previously served as Chairman, President and CEO of FirstMerit Corporation (“FirstMerit”) and its wholly-owned bank subsidiary, FirstMerit Bank N.A., from 2006 until its merger with Huntington Bancshares Incorporated in July 2016.
Stephen H. Gordon, Founding Chairman, CEO and President of Opus Bank, stated, “In the short time that Paul has been on the Opus Board, I have found him to be extremely thoughtful, constructive, and impactful. His deep experience and objective judgement have already benefitted the company from a governance perspective. We look forward to working with Paul and appreciate his willingness to take on this important role as we further enhance Opus’ corporate governance structure.” Gordon added, “Paul’s past experience leading the Board of Directors of FirstMerit, as well as his tremendous risk management and regulatory credentials as both Director of the Federal Reserve Bank of Cleveland and as a member of the Federal Reserve’s Federal Advisory Council, clearly provides him with the relevant experience needed for a strong Lead Independent Director.”
About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $8.0 billion of total assets, $5.4 billion of total loans, and $6.7 billion in total deposits as of March 31, 2017. 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, Member FINRA/SIPC. Opus Bank’s alternative asset IRA custodian subsidiary has over $13 billion of custodial assets and approximately 47,000 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 at: 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.