Opus Bank Announces $1 Billion Commitment to Help Expand Businesses and Drive Economic and Job Growth in California
Opus Bank (“Opus”) (Nasdaq: OPB) is announcing a $1 billion commitment to provide capital funding to those qualified businesses that want to expand their operations, revenues, and employees in the State of California, thereby driving increased economic expansion and job growth.
Stephen H. Gordon, Chairman, Chief Executive Officer and President of Opus Bank, stated, “I believe the California business environment has floundered for too long and substantial growth has to come from the bottom up. A recent CEO Magazine report ranked California 50th out of 50 in terms of states with the best business climate. The challenges California businesses face are significant and businesses need to know that capital funding from a pro-business, strategic financial partner is available.” Gordon added, “California is the world’s eighth largest economy, yet it leads the nation in the number of businesses that have chosen to leave the state. We instead must create an environment where businesses feel confident and emboldened to expand and grow in California.”
Opus’ $1 Billion Initiative makes capital available immediately to qualified emerging businesses with revenues of $1-$10 million and burgeoning commercial enterprises with revenues of $10-$100 million. To learn more about Opus Bank’s $1 Billion commitment announced at the Opus Growth Series Event held at the Newport Beach Civic Center on November 6, 2014, click on the linked video: https://www.opusbank.com/Rebuild-CA/.
Gordon concluded, “I look forward to Opus’ financial commitment having a direct positive impact on metropolitan communities throughout California.”
About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with over $4.7 billion of total assets, $3.7 billion of total loans, and $3.5 billion in total deposits as of September 30, 2014. Opus Bank provides high-value, relationship-based banking products, services, and solutions to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial business, healthcare, technology, multifamily residential, commercial real estate, and structured finance, and is an SBA preferred lender. Opus Bank is an Equal Housing Lender. Opus Bank operates 58 banking offices, including two in the Phoenix metropolitan area of Arizona, 32 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.
This press release contains “forward-looking statements.” These forward-looking statements include information, which is subject to change and subject to risks, uncertainties and assumptions. 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 Bank undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
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