IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank (“Opus”) (NASDAQ: OPB) announced today that Mark Deason of Starwood Capital Group has been appointed to Opus’ Board of Directors, effective February 26, 2018, and appointed a member of the Compensation Committee and Nominating and Corporate Governance Committee. Mr. Deason replaces Tom Bowers, who concurrently resigned from Opus’ Board of Directors, effective February 26, 2018. Opus’ Board membership remains at nine.
Stephen H. Gordon, Chief Executive Officer and President of Opus Bank, stated, “Tom has been an outstanding member of Opus’ Board of Directors. On behalf of Opus, I thank Tom for his contributions since joining the board in 2016.” Mr. Gordon added, “We are pleased to have Mark join Opus’ Board of Directors. I have no doubt that Mark’s deep knowledge and wealth of experience will be of immediate benefit, and that his transition will be seamless as Opus continues to grow.”
Mark Deason serves as Managing Director and Head of U.S. Asset Management of Starwood Capital Group (“Starwood”). In this role, Mr. Deason is responsible for overseeing the asset management of all non-hotel assets, as well as the Firm’s development function in the U.S. While at Starwood Capital, Mr. Deason has participated in investments throughout the capital structure, including commercial, hospitality and residential acquisitions and developments. Prior to joining Starwood in 2003, Mr. Deason worked for Merrill Lynch in the firm’s real estate investment banking group, assisting West Coast real estate, hospitality, and gaming companies with a range of capital origination and M&A activities. Mr. Deason received a B.A. degree in business economics with a minor in accounting from the University of California, Los Angeles. He is a policy board member at the Fisher Center for Real Estate and Urban Economics, and is a member of the Milken Institute and the Urban Land Institute.
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.
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.
Source: Opus Bank