Opus Bank, Irvine, CA, is an FDIC-insured California-chartered commercial bank, raised an additional $100m of new equity capital.
Backers include existing investors Stephen H. Gordon, Opus Bank’s founding Chairman & CEO, as well as funds affiliated with Elliott Management Corporation, Fortress Investment Group LLC, and Starwood Capital Group.
The bank intends to use the capital to continue to grow both organically and through acquisitions (including the completion of the Fullerton Community Bank acquisition, which we expect to occur on October 31, 2011).
A Small Business Administration (SBA) Preferred Lender, Opus Bank currently operates 30 banking offices, including 22 in the Seattle/Puget Sound region in Washington and eight banking offices in Southern California.
It has also announced plans to open new offices in:
– Danville, Contra Costa County;
– Encino, Long Beach, and West Los Angeles, Los Angeles County;
– Irvine and Laguna Niguel, Orange County;
– Del Mar and La Jolla, San Diego County, California; and
– Kirkland, King County, Washington.