Opus Bank (OPB) Tops Q2 EPS by 8c

Opus Bank (NASDAQ: OPB) reported Q2 EPS of $0.52, $0.08 better than the analyst estimate of $0.44. Revenue for the quarter came in at $63.1 million versus the consensus estimate of $54.43 million.

Stephen H. Gordon, Founding Chairman, Chief Executive Officer and President of Opus Bank, stated, "We are proud of our second quarter results, which were driven by the continued growth and maturation of all divisions within Opus and the continued out-performance of our loan and deposit portfolios. This quarter experienced a significant increase in revenues from numerous spread and fee income sources and achieved continued improved efficiency, displaying Opus' meaningful scalability and client demand for our solutions-based approach and breadth of capabilities.” Gordon concluded, “Given where Opus was positioned at quarter-end and line of sight into our growth through the remainder of 2015 and into 2016, we are pleased to announce today that the Board of Directors has approved increasing our quarterly cash dividend by 43% to $0.10 per share, which reflects our strong capital position, asset quality, liquidity, increasing earnings power and return metrics, and confidence in our ability to execute our business strategy and growth plans.”

For earnings history and earnings-related data on Opus Bank (OPB) click here.

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