August 23, 2016
Opus Bank Launches Public Finance Division
Opus Bank was founded on September 30, 2010 when a group of investors led by our Founding Chairman, Chief Executive Officer and President, Stephen H. Gordon, completed the acquisition and recapitalization of Bay Cities National Bank, a community bank headquartered in Redondo Beach, CA, with an injection of over $400 million of new equity. Bay Cities was subsequently converted to a California-chartered commercial bank, regulated by the FDIC and the State of California DBO, and renamed Opus Bank.
Opus was founded at a time when the banking industry was still reeling from the Financial Crisis and most banks were inwardly focused, struggling with capital constraints and trying to limit losses from problem credits. The banking industry was in need of an institution with a strong balance sheet and equally strong leaders who could facilitate growth and who shared the entrepreneurial vision of its clients.
Since the Bay Cities acquisition, Opus has completed an additional seven acquisitions, including two whole bank acquisitions; two acquisitions of multiple banking offices and related client deposits; and the acquisitions of three non-bank, bank-like businesses. At the same time, Opus has consistently achieved strong organic growth through the development of its Commercial Bank, Retail Bank, Merchant Bank, and Correspondent Bank.
Opus Bank Completes Acquisition of Commerce Escrow Company and RPM Investments, Inc.
Opus Bank Forms Broker-Dealer Subsidiary to Expand Merchant Banking Capabilities
Opus Bank Completes Acquisition of Four Banking Offices From California Bank and Trust
Opus Bank Announces Expansion and Maturation of its Income Property Banking Division with Newly Formed Structured Finance Division
Opus Bank Announces $22.5 Million of Acquisition Financing Provided to Adesto Technologies
Opus Bank Completes Its Acquisition of Ten Banking Offices from Pacific Western Bank
Opus Bank Appoints Miguel A. Serricchio Senior Managing Director, President of Treasury Management and Payment Solutions Division
Opus Bank Appoints Phil Petrozzi Senior Vice President, Senior Managing Director of Fiduciary Banking Division
Opus Bank Completes its Acquisition of RMG Capital Corporation and Fullerton Community Bank, FSB
Opus Bank Completes its Acquisition of Cascade Financial Corporation and Cascade Bank
Opus Bank Establishes and Funds Opus Community Foundation with $4.3 Million Initial Contribution
Opus Bank Announces the Completion of its $460 Million Recapitalization and Change in Control Plan
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