Opus Bank (NasdaqGS:OPB) announced the private placement of 2,864,865 common shares at a price of $18.5 per share for gross proceeds of $53,000,000 on January 29, 2017. The company has entered into purchase agreement with a limited number of institutional accredited investors. The company will pay expenses of $3,000,000 in the transaction. The transaction is subject to approval of California Department of Business Oversight, Division of Financial Institutions.