IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank (“Opus”) (NASDAQ: OPB) announced today that Adam Russell has joined Opus as Senior Managing Director – Commercial Banking. Mr. Russell, a 30-year banking veteran, is responsible for expanding Opus’ commercial and corporate client base in Southern California’s Inland Empire.
Jim Haney, Executive Vice President, Head of Commercial Banking, stated, “We are pleased that Adam has joined Opus to expand our Southern California Commercial Banking coverage into the dynamic Inland Empire market. Adam is a uniquely experienced banker deeply connected to the region through his 30 years in banking, his board service, and as an educator.” Mr. Haney added, “We anticipate that Adam’s years of experience and considerable success providing debt financing and treasury management solutions to mid-sized businesses and middle market corporations in the Inland Empire will be impactful, as Opus Bank continues to grow its market presence and relationship-based commercial banking franchise.”
Mr. Russell joins Opus Bank most recently from Community Bank headquartered in Pasadena, where he served as First Vice President, Team Leader and Relationship Manager since 2016. While at Community Bank, Mr. Russell was responsible for managing and growing a portfolio of middle market commercial clients in the Inland Empire. From 2013 to 2016, Mr. Russell served as Vice President, Business Development at City National Bank, where he focused on Commercial and Industrial Lending in the Inland Empire market. From 2011 to 2013, Mr. Russell served as Senior Vice President, Regional Commercial Banking Manager for Wedbush Bank, where he was responsible for launching and growing the commercial banking loan production office in the Inland Empire. From 2005 to 2011, Mr. Russell served as Market President at Mutual of Omaha Bank, where he established and led the bank’s commercial banking office in the Inland Empire. From 1997 to 2005, Mr. Russell served as Vice President, Commercial Banking at California Federal Bank (“CalFed”), and Citibank, subsequent to its purchase of CalFed in 2002. Mr. Russell began his career in 1988 with Bank of America. Mr. Russell currently serves as Vice Chairman of the Board of Directors of Enterprise Funding Corp., a Redlands, California-based Certified Development Company for the U. S. Small Business Administration, as well as Chair of the Business Alliance at California State University, San Bernardino. Additionally, Mr. Russell has served as an Adjunct Professor of Finance at California State University, San Bernardino since 2012. Mr. Russell holds a B.A. from the University of California, Los Angeles and an M.B.A. from the University of Southern California.
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About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $7.5 billion of total assets, $5.2 billion of total loans, and $5.9 billion in total deposits as of December 31, 2017. Opus Bank provides superior ideas and solutions, and banking products to its clients through its Retail Bank, Commercial Bank, and Merchant 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 $16 billion of custodial assets and over 50,000 client accounts, which are comprised of self-directed investors, financial institutions, capital raisers and financial advisors. Opus Bank operates 50 banking offices, including 31 in California, 16 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.
