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Opus Bank Launches New Correspondent Banking Division

Company Release - 2/18/2014 7:00 AM ET

− Sally Hazen Joins as Senior Vice President, President of Correspondent Banking −

IRVINE, Calif.--(BUSINESS WIRE)-- Opus Bank (“Opus” or the “Bank”) announced today that Sally Hazen, former head of correspondent banking at Union Bank, one of the nation’s premier correspondent banks, has joined Opus Bank as Senior Vice President, President of Correspondent Banking, to launch and lead Opus’ new Correspondent Bank. Opus Bank’s Correspondent Bank is in addition to Opus’ Retail Bank, Commercial Bank, and Merchant Bank.

Stephen H. Gordon, Chairman, Chief Executive Officer and President of Opus Bank, stated, “The addition of Sally Hazen to our senior management team and the launch of Opus’ Correspondent Bank represent major milestones in the maturation of Opus Bank. The banking industry has emerged from the recent recession with significantly more capital than at the end of the prior decade and is now poised for growth. We look forward to broadening Opus’ mission to financially back those with a vision to expand and grow, and as such, look forward to providing banking products, services, and solutions to financial institutions, including banks, thrifts, and credit unions.” Mr. Gordon added, “As BSA and other regulatory compliance issues have created a burden for some of the largest correspondent banks, this has created both a need and an opportunity for Opus Bank to step up as a well-run bank with a clean balance sheet, a lot of capital, and a big vision; and be there to bank those financial institutions looking for an alternative to those banks that are internally focused on legacy issues.”

Sally Hazen commented, “It has always been my desire to create the “Perfect” correspondent banking network built on strong client relationships. My life’s work has concentrated on correspondent banking, where I have assisted in the organization, growth, and operations of some of the best banks on the West Coast. This new chapter I am pursuing with Opus Bank allows me to quickly, and selectively, develop and provide high-value, relationship-based banking products, services, and solutions. We are seeking relationships that contribute to our mutual success. Opus is unique in that the full loan and deposit relationship is important to us, while in recent years, relationships have been deemphasized by the major banks.”

Ms. Hazen joins Opus Bank most recently from Union Bank, where she served as SVP, Financial Institutions Industry Manager from 2008 to 2013. While at Union Bank, Ms. Hazen was responsible for the nationwide expansion of their correspondent banking efforts and successfully grew deposits from $335 million to $2 billion. From 2000 to 2008, Ms. Hazen was with City National Bank, where she served as SVP, Manager of Financial Institutions and focused on providing banking products, services, and solutions to banks in the Western region. From 1980 to 1999, Ms. Hazen was with Pasadena, California-based Community Bank, where she served as Senior Vice President and led the correspondent banking efforts, organized over 50 bank start-ups, and was an integral part of the bank’s growth from $145 million to $1.3 billion in total assets.

About Opus Bank

Opus Bank is an FDIC insured California-chartered commercial bank with over $3.7 billion of total assets, $2.9 billion of total loans, and $2.7 billion in total deposits as of December 31, 2013. Opus Bank provides high-value, relationship-based banking products, services, and solutions to its clients comprised of small and mid-sized commercial businesses, entrepreneurs, real estate investors, professionals, and consumers. Opus Bank offers a robust suite of treasury and cash management and depository solutions, and a wide range of loan products, including commercial and industrial, commercial real estate, multifamily residential, conforming and jumbo single-family residential, and is an SBA preferred lender. Opus Bank is an Equal Housing Lender. Opus Bank operates 60 banking offices, including two in the Phoenix metropolitan area of Arizona, 34 banking offices in California, and 24 in the Seattle/Puget Sound region in Washington. For additional information about Opus Bank, please visit our website: www.opusbank.com. To learn more about how Opus Bank is backing businesses, please visit: www.opusbank.com/Spotlight.

Opus Bank
Mr. Stephen H. Gordon
Chairman, CEO & President
Telephone: (949) 250-9800
or
Ms. Sally Hazen
SVP, President of Correspondent Banking
Telephone: (949) 250-9800
or
Media Contact:
Mr. Jeff L. Leonard
SVP, Director of Communications
Telephone: (949) 251-8146

Source: Opus Bank