Email PDF view Print view Email Alert Social media sharing

Opus Bank was founded on September 30, 2010 when a group of investors 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. Opus now provides commercial and retail banking products and solutions to its clients in western markets from its headquarters in Irvine, California and through 47 banking offices, and provides IRA custodian services through its wholly-owned subsidiary, PENSCO Trust Company.

Important Events in Opus' History

August 23, 2016

Opus Bank Launches Public Finance Division

June 29, 2016

Opus Bank Announces Completion of Subordinated Debt Offering

April 27, 2016

Opus Bank Announces Addition to S&P SmallCap 600 Index

April 14, 2016

Opus Bank Completes Acquisition Of PENSCO Trust Company

March 29, 2016

Opus Bank Forms Media and Entertainment Banking Division


Funded $2.4 billion of Loans in 2015

December 21, 2015

Opus Bank Added to the S&P Regional Banks Select Industry Index

December 15, 2015

Opus Bank Names Debbie McLeod to Lead New Municipal Banking Division

November 23, 2015

Opus Bank Announces Closing of Secondary Offering

April 1, 2015

Opus Bank Completes Acquisition of Commerce Escrow Company and RPM Investments, Inc.

February 2, 2015

Opus Bank Forms Broker-Dealer Subsidiary to Expand Merchant Banking Capabilities


Funded $1.8 billion of Loans in 2014

June 19, 2014

Opus Bank to Be Added to the Russell 2000 Index

April 23, 2014

Opus Bank Announces Closing of Initial Public Offering

February 18, 2014

Opus Bank Launches New Correspondent Banking Division

Opus Bank Announces Expansion of Its Merchant Bank with new Corporate Finance Division and Private Equity Group


Funded $1.1 billion of Loans in 2013

August 19, 2013

Opus Bank Completes Acquisition of Four Banking Offices From California Bank and Trust

July 16, 2013

Opus Bank Announces Expansion and Maturation of its Income Property Banking Division with Newly Formed Structured Finance Division

May 14, 2013

Opus Bank Announces Launch of New Healthcare Banking Division


Funded $1.0 billion of Loans in 2012

October 15, 2012

Opus Bank Announces $22.5 Million of Acquisition Financing Provided to Adesto Technologies

September 24, 2012

Opus Bank Completes Its Acquisition of Ten Banking Offices from Pacific Western Bank

April 4, 2012

Opus Bank Appoints Miguel A. Serricchio Senior Managing Director, President of Treasury Management and Payment Solutions Division

March 26, 2012

Opus Bank Appoints Phil Petrozzi Senior Vice President, Senior Managing Director of Fiduciary Banking Division


November 1, 2011

Opus Bank Completes its Acquisition of RMG Capital Corporation and Fullerton Community Bank, FSB

October 28, 2011

Opus Bank Completes $100 Million Capital Raise

July 1, 2011

Opus Bank Completes its Acquisition of Cascade Financial Corporation and Cascade Bank


October 20, 2010

Opus Bank Establishes and Funds Opus Community Foundation with $4.3 Million Initial Contribution

October 6, 2010

Opus Bank Announces the Completion of its $460 Million Recapitalization and Change in Control Plan