IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank (“Opus”) (NASDAQ: OPB) announced today that Opus’ Board of Directors has appointed Paul G. Greig, former Chairman, President & CEO of FirstMerit Corporation (“FirstMerit”), to Opus’ Board of Directors.
Stephen H. Gordon, Founding Chairman, CEO & President of Opus Bank, stated, “We are pleased to have Paul join Opus’ Board of Directors, as his knowledge and experience are well aligned with Opus’ strategic focus.” Gordon added, “In addition to his many successes in banking, including most recently leading FirstMerit, Paul also has tremendous risk management and regulatory credentials, having served as both Director of the Federal Reserve Bank of Cleveland and as a member of the Federal Reserve’s Federal Advisory Council. I anticipate that his expertise and talents will be of immediate benefit to both Opus and our Board and we look forward to his contributions.”
Mr. Greig commented, “I have watched Opus Bank from afar and been quite impressed with its many accomplishments during its nearly seven years since inception. I am excited to join Opus’ Board at this important point in its development and look forward to working together with the Board in support of Opus’ senior leadership team.” Mr. Greig concluded, “Opus operates in extremely attractive markets and effectively partners with its entrepreneurial clients who have a desire to expand and grow. The bank is firmly committed to further enhancing its enterprise risk management, improving efficiency, and effective capital management. Successfully executing on these strategies will help to ensure Opus remains a strong and stable financial resource for its clients and stakeholders."
Mr. Greig served as Chairman, President and CEO of FirstMerit and its wholly-owned bank subsidiary, FirstMerit Bank N.A., from 2006 until its merger with Huntington Bancshares Incorporated in July 2016. Under his leadership, FirstMerit grew organically and through acquisition from $10 billion to over $26 billion in assets. From 2011 to 2013, Mr. Greig served as a director of the Federal Reserve Bank of Cleveland and more recently as Vice President and Member of the Federal Reserve’s Federal Advisory Council. From 2005 to 2006, Mr. Greig served as President and Chief Executive Officer of Charter One Bank, Illinois. From 1999 to 2005, Mr. Greig served as President and Chief Executive Officer for Bank One Corporation, Wisconsin and for JPMorgan Chase Wisconsin from 2004 to 2005 following its acquisition of Bank One. Mr. Greig began his banking career with American National Bank in 1978. Mr. Greig’s philanthropic and board activities have included serving as Member of the Executive Committee for the Mid-Size Bank Coalition of America, Board Member of the American Bankers Association, Member of the Board of Trustees for the Cleveland Orchestra’s Musical Arts Association, and Trustee and Executive Committee Member for the Greater Cleveland Sports Commission. Mr. Greig earned a B.A. in economics from Wheaton College and an M.B.A. from DePaul University.
About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $7.9 billion of total assets, $5.7 billion of total loans, and $6.7 billion in total deposits as of December 31, 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, Member FINRA/SIPC. Opus Bank’s alternative asset IRA custodian subsidiary has over $12 billion of custodial assets and approximately 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 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.