Opus Bank Announces Third Quarter 2018 Results
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Opus Bank (OPB) Misses Q3 EPS by 12c
October 22, 2018 7:05 AM EDTOpus Bank (NASDAQ: OPB) reported Q3 EPS of $0.25, $0.12 worse than the analyst estimate of $0.37. Revenue for the quarter came in at $61.5 million versus the consensus estimate of $65.85 million.
Total loans increased $87.5 million, or 2%, as quarterly new loan fundings of $435.7 million outpaced loan prepayments and payoffs of $258.0 million, which included $60.6 million of planned exits. Excluding planned exits, total loans increased at a 12% annualized rate.New loan fundings increased 47% to $435.7 million, compared to $295.6 million in the second quarter of 2018, and increased 16% compared to $375.4 million in the third quarter of 2017.Total assets increased $201.7 million, or 3%,... More