IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank, which specializes in commercial, retail, merchant and correspondent banking, today announced that a registration statement on Form 10 has been filed with the Federal Deposit Insurance Corporation for the proposed listing of Opus Bank common stock in connection with a proposed initial public offering. The shares will be offered by Opus Bank and certain selling stockholders. Opus Bank has applied to list its common stock on The NASDAQ Global Select Market under the ticker symbol "OPB." The number of shares of common stock to be offered and the price range for the offering have not yet been determined.
J.P. Morgan, Credit Suisse, Sandler O’Neill + Partners, L.P., and Keefe, Bruyette & Woods will act as joint book-running managers.
Opus Bank is an FDIC insured California-chartered commercial bank with over $3.7 billion of total assets, $2.9 billion of total loans, and $2.7 billion in total deposits as of December 31, 2013.
The offering will be made only by means of an offering circular. The registration statement on Form 10, which includes the preliminary offering circular relating to the offering, is available at http://www2.fdic.gov/efr/login335.asp. The preliminary offering circular has not been approved by the California Commissioner of Department of Business Oversight and is subject to further revision and amendment.
A registration statement on Form 10 relating to these securities has been filed with the Federal Deposit Insurance Corporation, but has not yet become effective. These securities also may not be sold, nor offers to buy be accepted, prior to the time Opus Bank has obtained a permit for the sale of the securities from the California Commissioner of Department of Business Oversight. A permit for the sale of the securities has not yet been granted. 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, California Department of Business Oversight—Division of Financial Institutions or any other governmental agency.
About Opus Bank
Opus Bank provides high-value, relationship-based banking products, services and solutions to its clients comprised of small and mid-sized commercial business, entrepreneurs, real estate investors, professionals and consumers. Opus Bank offers a suite of treasury and cash management and depository solutions, and a wide range of loan products, including commercial and industrial, commercial real estate, multifamily residential, and is an SBA preferred lender. Opus Bank is an Equal Housing Lender. Opus Bank operates 60 banking offices, including two banking offices in the Phoenix metropolitan area of Arizona, 34 banking offices in California and 24 banking offices in the Seattle/Puget Sound region of Washington.
