Opus Bank Announces Expansion into Oregon

− Signs Lease Agreement for Portland, Oregon Banking Office −

IRVINE, Calif.--()--Opus Bank (“Opus” or the “Bank”) (Nasdaq: OPB) announced today its further expansion into Oregon with the opening of its initial banking office in Portland’s downtown business district. The new banking office is a continuation of the Bank’s planned organic growth, which includes hiring talented and experienced bankers, the opening of banking offices, and the expansion of client relationships in major metropolitan markets throughout the Western region, and will support the growing commercial banking team Opus has in the Portland market.

Stephen H. Gordon, founding Chairman, Chief Executive Officer and President of Opus Bank, stated, “I am pleased to announce the opening of our first banking office in the Portland, Oregon and Vancouver, Washington metropolitan area. Opus has over $4.7 billion of total assets, nearly $800 million of equity, and approximately 150 experienced bankers and 24 banking offices in the Pacific Northwest, giving Opus Bank the depth, breadth, strength, and regional knowledge necessary to financially support our clients’ visionary growth plans, while maintaining our strong commitment to our relationship-based, client-centric banking culture.” Gordon added, “As one of the best-capitalized banks in the Western region, we’ve been consistently committing significant amounts of capital funding to those commercial businesses, entrepreneurs, real estate investors, high net worth individuals, and professionals who share our vision to expand and grow. We look forward to deepening that impact in metropolitan markets in Oregon; as such it is our intention to hire additional highly successful bankers in Oregon’s metropolitan regions, including Portland and Eugene, to support our planned expansion and growth.”

Portland, OR:
The new Portland banking office will be located at 525 SW Broadway, Portland, OR 97205 in downtown Portland on SW Broadway between SW Alder Street and SW Washington Street and is scheduled to open in the second quarter of 2015.

Michael Allison, Co-President, President of The Commercial Bank, commented, “The Portland banking office will support new and existing clients of Opus’ Commercial Business, Income Property, Technology, Healthcare, Structured Finance, Fiduciary, and Merchant Banking divisions, and is locally led by highly seasoned and experienced bankers who have deep roots in the Portland and Vancouver metro area including: Grant Word, a 24-year banking veteran based in Portland for the majority of his career, who serves as Senior Managing Director – Head of Commercial Business Banking for Opus’ Pacific Northwest Region; William “Bill” G. Jones, a 35-year banking veteran based in the Portland Market throughout his career, who serves as Director, Client Manager – Commercial Business Banking; Patricia Sturgill, a 7-year banking veteran in the Portland market and graduate of Portland State University, who serves as Director, Client Manager - Commercial Business Banking; and Kevin Geraci, a 20-year banking and finance veteran based in the Portland market for the past 14 years, who serves as Managing Director, Income Property Banking, Pacific Northwest Region.” Allison concluded, “As we continue to execute Opus’ mission of backing those entrepreneurs focused on expanding and growing their companies, we look forward to bringing the full force of Opus to further financially enable economic and job growth in Oregon.”

About Opus Bank

Opus Bank is an FDIC insured California-chartered commercial bank with over $4.7 billion of total assets, $3.7 billion of total loans, and $3.5 billion in total deposits as of September 30, 2014. 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 business, healthcare, technology, multifamily residential, commercial real estate, and structured finance, and is an SBA preferred lender. Opus Bank is an Equal Housing Lender. Opus Bank operates 58 banking offices, including two in the Phoenix metropolitan area of Arizona, 32 in California and 24 in the Seattle/Puget Sound region in Washington. For additional information about Opus Bank, please visit our website: www.opusbank.com. To learn more about how Opus Bank is backing businesses, please visit: www.opusbank.com/spotlight.

Forward-Looking Statements

This press release contains “forward-looking statements.” These forward-looking statements include information, which is subject to change and subject to risks, uncertainties and assumptions. 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 Bank 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
SVP, Director of Corporate Strategy/Communications
949-251-8146

Contacts

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