IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank and the Opus Community Foundation announced today that the Foundation’s Board of Directors approved eight grant awards. These grants were awarded to eight nonprofit organizations that the bank and foundation believe will have an immediate and long lasting impact on the efforts to rebuild our communities. The initiatives that are receiving the foundation’s financial support create enrichment and advancement opportunities that directly improve the lives of individuals and families.
Stephen H. Gordon, Chairman and Chief Executive Officer of Opus Bank and Chairman of the Opus Community Foundation, stated, “While Opus Bank remains focused on providing capital funding to business owners, real estate investors, and entrepreneurs who share our vision to expand and grow, our vision doesn’t stop there. The organizations with whom we’ve chosen to become partners have programs targeting specific areas of need in our communities, including inspiring youth, providing educational programs, and supporting abused children. Together, we hope to have a positive impact on the lives of disadvantaged families, children, and underserved individuals.”
Katie Steele, Executive Director of the Opus Community Foundation, commented, “These grants were made with the head and heart. Despite an incredible increase in need, and without a corresponding increase in funding, these organizations continue to carry out their mission with passion and perseverance. We are committed to supporting those nonprofits that have the programs and power to transform and improve our communities. Opus Bank and the Opus Community Foundation understand that businesses should be active contributors and leaders in the economic recovery, and we will continue to support with our best efforts these organizations that are rebuilding and strengthening our communities.”
The Opus Community Foundation awarded grants to Los Angeles, Orange, and San Diego County-based nonprofit organizations with a focus on education, financial literacy, or the arts. These groups include:
Community Opus Project of San Diego received a grant to support their 2011 Community Opus Program, which focuses on underserved, low-income communities and instills excellence in the musical and personal development of students through rigorous musical training experiences at no cost.
H.E.L.P. of Los Angeles received a grant to support their service programs, which provide seniors in the Torrance area with impartial information, education, and counseling on elder care, law, finances, and consumer protection.
Harmony Project of Los Angeles received a grant to support the music scholarship of four students who will take part in their award-winning research-based program. The Harmony Project exclusively supports low-income children and their families with an intensive, year-round program that follows them throughout their childhood - including college credit and scholarships.
Junior Achievement (“JA”) of San Diego received a grant to support their financial literacy education program which teaches over 40,000 K-12 students about entrepreneurship, work readiness, and economics. JA prepares students with the skills they’ll need as adults for the practical world of work and responsible citizenship.
Olive Crest of Orange County received a grant to support their community involvement program, which trains and mobilizes volunteers, mentors, and tutors who work to prevent child abuse, educate at-risk children, and keep families together.
Peninsula Education Foundation of Los Angeles received a grant to support the Palos Verdes Peninsula Unified School District in funding music, science, tech, and engineering programs.
Rosie’s Garage of Orange County received a grant to support their new Community Partner’s Program, which provides students with community mentors who can share their own real-life stories of educational inspiration and success. The mentors instill in the students a desire to seek higher education through their advice, counseling, and experiences.
South Coast Repertory of Orange County received a grant to support their arts program, which provides thousands of area school children, many from undeserved communities, with access to the theatre arts through SCR’s free education and outreach programs.
About Opus Community Foundation
The Opus Community Foundation is a private 501(c)(3) organization established by Opus Bank on September 30, 2010. The Opus Community Foundation targets its philanthropic efforts in the areas of affordable housing, community development, education, financial literacy, critical health issues, and the arts. The foundation’s goal is to stimulate economic change, promote reinvestment, inspire philanthropy, and strengthen the communities around us.
About Opus Bank
Opus Bank is an FDIC insured California-chartered commercial bank with approximately $2.2 billion of total assets, $1.3 billion of total loans, $1.3 billion in total deposits, and $394 million of total equity, as of June 30, 2011, without giving effect to purchase accounting adjustments. Opus Bank provides high value, relationship-based banking products and exceptional service to its clients comprised of small and mid-sized commercial businesses, entrepreneurs, real estate investors, high-net-worth individuals, professionals, and consumers. Opus Bank offers a wide range of loan products, including commercial and industrial, commercial real estate, multifamily residential, jumbo single-family residential, and consumer loans; and is a Small Business Administration (“SBA”) Preferred Lender. Opus Bank currently operates 27 banking offices, including 22 in the Seattle/Puget Sound region in Washington and five banking offices in the South Bay communities of Los Angeles County and maintains an executive and administrative office in Irvine, located in Orange County, California. Opus Bank has announced plans to open new banking offices in Encino, Beverly Hills, and West Los Angeles, located in Los Angeles County; Corona del Mar, Newport Coast, and Irvine, located in Orange County; and La Jolla, located in San Diego County, California. On June 6, 2011, Opus Bank announced that it entered into a definitive agreement to acquire RMG Capital Corporation (“RMG”) and its bank subsidiary, Fullerton Community Bank, FSB. Established in 1927, Fullerton Community Bank is a federally chartered savings bank that operates eight full service banking offices in northern Orange County, California, and has $681.9 million of total assets, $511.1 million of total deposits, and $529.3 million of total loans, as of March 31, 2011. At year-end, on a pro forma basis after the close of the acquisition of RMG, Opus Bank is expected to have nearly $3.0 billion of total assets and operate 42 banking offices on the West Coast. For additional information about Opus Bank, please visit our website: www.opusbank.com.