Opus Bank Announces Launch of Secondary Offering of Common Stock

IRVINE, Calif.--(BUSINESS WIRE)-- Opus Bank (“Opus”) (Nasdaq: OPB) announced today the launch of an underwritten secondary public offering of 5,112,474 shares of its common stock by investment funds affiliated with Fortress Investment Group LLC; Elliott Associates, L.P.; Starwood Capital Group Global, LP; Abrams Capital Management L.L.C.; PMG Ventures Holdings, L.P.; and Mount Kellett Master Fund II, LP (collectively, the "Selling Stockholders"). The offering is expected to close on November 23, 2015, subject to customary closing conditions.

Opus will not receive any proceeds from the offering. In connection with the offering, the underwriters have a 30-day option to purchase an additional 766,871 shares, or 15%, in the offering from the Selling Stockholders.

Sandler O'Neill + Partners L.P.; Keefe, Bruyette & Woods; J.P. Morgan Securities LLC; and Credit Suisse Securities (USA) LLC are servings as joint book-running managers and Piper Jaffray as co-manager of the offering.

The offering will be made only by means of an offering circular. The offering circular relating to the offering will be available at www.opus-offering.com. Copies of the preliminary offering circular may also be obtained from Sandler O'Neill + Partners L.P. at Attention: Syndicate, 1251 Avenue of the Americas, 6th Floor, New York, NY 10020, or by calling toll-free at (866)-805-4128, or by e-mail at [email protected]; Keefe, Bruyette & Woods, Inc. at Attention: Equity Capital Markets, 787 Seventh Avenue, 4th Floor, New York, NY 10019, or by calling toll-free at (800)-966-1559; J.P. Morgan Securities LLC at Attention: Prospectus Department, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by calling toll-free at (866)-803-9204; or Credit Suisse Securities (USA) LLC at Attention: Prospectus Department, One Madison Avenue, New York, NY 10010, or by calling toll-free at (800)-221-1037, or by e-mail at [email protected].

This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy the securities, nor shall there be any sale of the 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. The securities are neither insured nor approved by the Federal Deposit Insurance Corporation.

About Opus Bank

Opus Bank is an FDIC insured California-chartered commercial bank with $6.2 billion of total assets, $5.0 billion of total loans, and $4.9 billion in total deposits as of September 30, 2015. 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 offers commercial escrow services and facilitates 1031 Exchange transactions through its Commerce Escrow Company and RPM Investments divisions. Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy, and performance improvement through its Merchant Banking division and its broker-dealer subsidiary, Opus Financial Partners. Opus Bank operates 58 client experience centers, including 33 in California, 22 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona, and one in Portland, Oregon. For additional information about Opus Bank, please visit our website: www.opusbank.com. Opus Bank is an Equal Housing Lender.

Forward-Looking Statements

This release may include forward-looking statements related to Opus’ plans, beliefs and goals, which involve certain risks, and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. 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 undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151116006452/en/

Opus Bank
Mr. Jeff L. Leonard
SVP, Dir. of Corporate Strategy/Communications
(949) 251-8146
or
Brett G. Villaume
SVP, Director of Investor Relations
949-224-8866

Source: Opus Bank

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