Opus Bank : Announces Its Year End and Fourth Quarter Results

Irvine, Calif. - January 25, 2016 - Opus Bank ('Opus') (NASDAQ: 'OPB') announced today net income of $16.7 million, or $0.50 per diluted share, for the fourth quarter of 2015 and $59.9 million, or $1.79 per diluted share, for the year ended December 31, 2015 as compared to $14.7 million, or $0.44 per diluted share, for the third quarter of 2015 and $43.7 million, or $1.38 per diluted share, for the year ended December 31, 2014. Net income in the fourth quarter included approximately $1.2 million of acquisition and other strategic initiative related non-core expenses, including costs associated with the successful execution of the secondary stock offering by selling shareholders completed on November 23, 2015, and $3.7 million of provision for loan loss related to our record loan fundings and growth during the quarter. Additionally, Opus announced today that its Board of Directors approved increasing its quarterly cash dividend by 25% to $0.15 per common share payable on February 18, 2016 to common and preferred shareholders of record as of February 4, 2016.

To view the entire earnings release and tables - click here.