Opus Bank (OPB) Misses Q4 EPS by 7c
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Opus Bank (OPB) to Acquire PENSCO Trust Company in Cash, Stock Deal
January 25, 2016 7:49 AM ESTOpus Bank (Nasdaq: OPB) announced that it has entered into a definitive agreement to acquire PENSCO Trust Company (PENSCO), a wholly-owned subsidiary of PENSCO Services, LLC. PENSCO is a leading custodian of self-directed IRA and alternative investments headquartered in San Francisco, California. PENSCO has nearly $11 billion of custodial assets from over 45,000 clients and investments in over 40,000 unique asset types, comprised of private equity, real estate, notes, cash, and other non-exchange traded assets. Under the terms of the agreement, PENSCO shareholders and members will receive aggregate consideration comprised of 1,698,529 shares of Opus Bank common stock and... More
