News Column

Opus Bank Announces Underwriters’ Exercise of Option

May 19, 2014



IRVINE, Calif.--(BUSINESS WIRE)-- Opus Bank (Nasdaq: OPB) announced today that the underwriters of its initial public offering of 5,125,864 shares of its common stock that closed on April 22, 2014 have partially exercised their option to purchase an additional 318,403 shares of common stock from Opus Bank and selling shareholders at the initial public offering price of $30.00 per share, less underwriting discounts.

As a result of the exercise of the underwriters’ option, Opus Bank and the selling shareholders sold an aggregate of 5,444,267 shares of common stock in the initial public offering. In connection with the exercise of the option, Opus Bank received net proceeds from the sale of the additional shares of $4.9 million, bringing the total net proceeds to Opus Bank from the initial public offering to $80.7 million after deducting the underwriting discounts and estimated offering expenses. Opus Bank did not receive any proceeds from the sale of common stock by the selling shareholders.

J.P. Morgan Securities LLC, Credit Suisse Securities (USA) LLC, Sandler O’Neill & Partners, L.P., and Keefe, Bruyette & Woods, Inc.A Stifel Company were the joint book-running managers for the offering.

Opus Bank has obtained a permit for the sale of the securities from the California Commissioner of the Department of Business Oversight. This permit is permissive only and does not constitute a recommendation or endorsement of the securities sold. This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. These securities are neither insured nor approved by the Federal Deposit Insurance Corporation (“FDIC”), California Department of Business Oversight—Division of Financial Institutions or any other governmental agency.

About Opus Bank

Opus Bank is an FDIC insured California-chartered commercial bank with over $4.0 billion of total assets, $3.2 billion of total loans, and $3.0 billion in total deposits as of March 31, 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 60 banking offices, including two in the Phoenix metropolitan area of Arizona, 34 in California and 24 in the Seattle/Puget Sound region of Washington.




Opus Bank

Mr. Jeff L. Leonard

SVP, Dir. of Corporate Strategy/Communications

949-251-8146


Source: Opus Bank


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