Opus Bank Announces Growth Equity Investment by Bank-Sponsored SBIC Fund in Healthy Snack Company Focused on Fruit and Vegetable Products

IRVINE, Calif.--()--Opus Bank (“Opus”) (NASDAQ: OPB) announced today that its bank-sponsored SBIC Fund, Opus Equity Partners, has made a growth equity investment in That’s It Nutrition, LLC (“That’s it.®”). That’s it.® provides a variety of delicious and healthy snacks with a focus on fruits and vegetables, and delivers unprecedented taste, texture, and cleanliness of ingredients listed on the product label. That’s it.® products use only natural, non-GMO ingredients and nothing else. The company was founded by Dr. Lior Lewensztain with the focus on improving the quality of life of children and adults worldwide by making fruits and vegetables and their benefits accessible to people everywhere.

Dale Cheney, Managing Partner at Opus Equity Partners, stated, “Lior and his team at That’s it.® have worked very hard to build an innovative brand that has clearly redefined the healthy snacks category, by creating delicious, non-GMO fruit products for the on-the-go consumer focused on a healthy lifestyle.” Cheney continued, “From our first meeting, we have been extremely impressed by the clear brand vision and growth strategy, and we are thrilled to partner with Lior and his very talented team to support the next stage of the growth story.”

Lior Lewensztain, CEO of That’s it.®, commented, “Opus’ SBIC fund is a unique, forward-thinking partner that is not typical in the investment community.” Lior added, “They share a passion for our brand and truly support our vision, while providing a tailored capital solution that makes sense for our company and growth objectives. We are very excited to have their expertise in developing consumer brands, and look forward to this partnership and to a successful future.”

About Opus Bank’s Merchant Banking Division
Opus Bank’s Merchant Banking division is an integrated principal investing and financial advisory platform that provides a broad range of direct investment and advisory solutions to lower middle-market companies. The Merchant Banking division includes Opus Equity Partners, LLC, the advisor to the Opus Bank-sponsored private equity SBIC Fund that provides growth capital to successful and dynamic companies in need of a capital solution beyond what is customarily available from traditional bank sources. The Merchant Banking division also includes Opus Financial Partners, LLC, Opus Bank’s wholly-owned registered broker-dealer, an investment banking group that provide advisory solutions to lower middle-market companies for mergers & acquisitions, leveraged buy-outs, growth equity capital, junior and senior debt, recapitalizations, and other broad transactional support to assist companies in their business development efforts.

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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.

Forward-Looking Statements
This release may include forward-looking statements related to Opus Bank’s 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.

Contacts

Opus Bank
Mr. Jeff L. Leonard, 949-251-8146
SVP, Dir. of Corporate Strategy/Communications

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Contacts

Opus Bank
Mr. Jeff L. Leonard, 949-251-8146
SVP, Dir. of Corporate Strategy/Communications