IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank (“Opus”) (NASDAQ: OPB) announced today the further expansion of its San Diego Commercial Banking team with the hires of two senior bankers. James R. Wade, a 27-year banking and finance veteran, has joined Opus as Managing Director, Senior Client Manager, Commercial Banking, and Chris Stratton, a 20-year banking and finance veteran, has joined Opus as Managing Director, Business Development Officer.
Jim Haney, Executive Vice President, Head of Commercial Banking, stated, “We are pleased that James and Chris have joined Opus to expand our client coverage in San Diego, the fifth most populous county in the nation. James and Chris are highly regarded banking veterans who share Opus’ approach to relationship-based commercial banking and have a tremendous depth of experience providing tailored solutions to entrepreneurs, business owners, and middle market companies.”
Mr. Haney added, “Throughout his banking career, Jim has experienced considerable success providing growth capital and treasury management solutions to privately held companies and middle market corporations in San Diego. We look forward to San Diego-based companies benefiting from Jim’s local market knowledge as we grow the division’s client base across Southern California and the other major metropolitan markets on the West Coast.”
Mr. Haney concluded, “Chris brings to Opus’ Business Development team his 20 years of experience and success in San Diego County providing sophisticated and tailored client centric financial solutions to small to mid-sized businesses, middle market companies, and real estate investors. His addition better positions Opus in San Diego County to deliver the full force of the firm and accelerate Opus’ organic growth by further leveraging existing client relationships, our strategic business partners, our market presence, and brand recognition.”
Stephen H. Gordon, Chief Executive Officer and President of Opus Bank, commented, “Opus holds a strong commitment to San Diego County, having opened our first banking office in the county in 2012. Today, we serve our San Diego-based clients through a team of 17 deeply rooted bankers in four banking offices, which collectively hold over $200 million of deposits and approximately $1.0 billion of loans. We appreciate how critical it is to have strong local banking talent from San Diego, serving our clients in San Diego. Jim and Chris both have strong ties to the region, each having two decades of banking and finance experience serving clients in San Diego and as alumni of San Diego State University.”
Mr. Wade joins Opus most recently from HomeStreet Bank, where from 2017 he served as First Vice President and was responsible for establishing and growing a portfolio comprised of middle market commercial and industrial clients in San Diego County. From 2010 to 2017, Mr. Wade served as President of Vindrauga Corporation, a San Diego Based lender that invests in early stage businesses, primarily through secured convertible debt. While at Vindrauga, Mr. Wade was responsible for overseeing the firm’s lending operations, including structuring, negotiating, and underwriting proposals; business development; and raising capital. From 2008 to 2010, Mr. Wade served as Senior Vice President and Senior Client Manager with Bank of America Merrill Lynch, where he was responsible for managing and growing a large and complex portfolio of Southern California middle market businesses. From 1998 to 2008, Mr. Wade served as First Vice President and Team Leader with Comerica Bank, where he was responsible for developing new client relationships; leading and developing a commercial banking team of lenders and credit analysts; and managing a portfolio of middle market commercial clients. Mr. Wade began his banking career at Union Bank in 1991 as Assistant Vice President, Middle Market Banking. Mr. Wade holds a Bachelor of Science degree in Business Administration from San Diego State University.
Mr. Stratton joins Opus from Wells Fargo, where he served since 2005. Most recently, Mr. Stratton served as Senior Vice President, Western Market Segment Manager from 2014 and was responsible for strategy development, implementation, and management for large and complex market and business segments. While serving in this role, Mr. Stratton ranked first among his peers in revenue growth for 2015 and 2016. Earlier with Wells Fargo, Mr. Stratton served as Vice President, Business Development Officer Area Manager for the bank’s northern San Diego County region. From 2002 to 2005, Mr. Stratton served as Financial Advisor with UBS and ranked in the top quartile for assets raised and new accounts opened. Mr. Stratton began his career in 1998 as a Financial Advisor with Prudential Securities in San Diego. Mr. Stratton holds a Bachelor of Arts degree in Marketing from San Diego State University.
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About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with $7.2 billion of total assets, $5.1 billion of total loans, and $5.9 billion in total deposits as of June 30, 2018. 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 $14 billion of custodial assets and over 49,000 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.