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Opus Bank Further Expands Its Pacific Northwest Commercial Banking Team

Company Release - 1/23/2018 7:00 AM ET

- Tim Claridge Joins as Managing Director, Sr. Client Manager -

- Tony Yee Joins as Managing Director, Sr. Client Manager -

IRVINE, Calif.--(BUSINESS WIRE)-- Opus Bank (“Opus”) (NASDAQ: OPB) announced today the expansion of its Commercial Banking team with the hires of Tim Claridge and Tony Yee, each joining Opus as Managing Director, Senior Client Manager.

Tim Claridge, a 21-year banking veteran, is responsible for further expanding Opus’ commercial and corporate client base in the Tacoma and Olympia markets.

Tony Yee, a 22-year banking and finance veteran, is responsible for further expanding Opus’ commercial and corporate client base in the Seattle/Puget Sound region.

John Norawong, Senior Managing Director, Commercial Banking, stated, “We are pleased that Tim and Tony have joined Opus Bank’s Commercial Banking team in the Seattle/Puget Sound region. I’m confident that Tim and Tony’s over 40 years of combined experience structuring and delivering tailored senior debt financing, depository, treasury, and cash management solutions to entrepreneurs, business owners, and lower-middle and middle market companies will be immediately beneficial to Opus’ clients who have a vision to expand and grow.” Mr. Norawong added, “I look forward to the additional coverage in the vibrant Puget Sound market and anticipate that Tim and Tony will quickly add to the productivity and success of our Commercial Banking division as we grow the division’s client base and loan origination volumes in the Pacific Northwest.”

Mr. Claridge joins Opus most recently from Columbia Bank, where from 2014 he served as Vice President, Commercial Loan Officer. While at Columbia, Mr. Claridge was responsible for managing and growing a portfolio of middle market commercial clients in the South Sound markets of Tacoma and Olympia. From 2006 to 2014, Mr. Claridge served as Senior Vice President, Commercial Loan Officer at Timberland Bank, where he led a team of bankers focused on Commercial and Industrial and Commercial Real Estate Lending in the South Sound area. From 2005 to 2006, Mr. Claridge served as Vice President, Business Relationship Manager at Key Bank, N.A., where he was responsible for developing and growing a portfolio of lower middle market clients. From 2002 to 2005, Mr. Claridge served as Vice President, Branch Manager and Business Loan Officer at First Utah Bank, N.A., where he was responsible for originating C&I and SBA senior debt transactions. Mr. Claridge began his career in 1996 at Key Bank, N.A. where he served as Assistant Vice President. Mr. Claridge holds a Bachelor of Science degree in Economics from the University of Utah and is a graduate of the Graduate School of Banking at the University of Colorado.

Mr. Yee joins Opus most recently from Umpqua Bank, where from 2014 he served as Vice President, Corporate Relationship Manager. While at Umpqua Bank, Mr. Yee was responsible for managing and growing a $100MM portfolio of middle market and upper middle market commercial clients across western Washington. From 2013 to 2014, Mr. Yee served as Vice President, Senior Relationship Manager at Union Bank, where he was focused on building client relationships with and providing financial solutions to upper middle market companies in the Pacific Northwest. From 2007 to 2013, Mr. Yee served as Vice President, Senior Credit Officer at Bank of the West, where he was responsible for analyzing, structuring, and underwriting senior term credits and relationship management, focusing on middle market clients in Washington. From 2005 to 2007, Mr. Yee served as Vice President, Commercial Loan Officer at Columbia Bank, where he was responsible for originating commercial, industrial, and commercial real estate debt transactions. From 2001 to 2005, Mr. Yee served as Vice President, Syndicated Finance Credit Manager at Washington Mutual Bank. From 1999 to 2001, Mr. Yee served as Assistant Vice President, Large Corporate Portfolio Manager at Key Bank, N.A. Mr. Yee began his banking and finance career in 1995 at GE Capital in their executive training program serving as financial analyst, marketing analyst, and credit analyst. Mr. Yee holds a Bachelor of Arts degree in Economics from the University of Washington.

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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.

Forward-Looking Statements

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.

Opus Bank
Mr. Jeff L. Leonard
SVP, Dir. of Corporate Strategy/Communications
(949) 251-8146

Source: Opus Bank