Opus Bank

Opus Bank was a California-chartered commercial bank headquartered in Irvine, founded in 2010 by Stephen H. Gordon, who also served as its initial chairman, president, and CEO. The institution commenced operations after its holding company, Opus Bank, successfully raised $460 million in capital, marking one of the largest initial capital raises for a U.S. commercial bank in history. Gordon, a seasoned banking executive with a history of building and selling financial institutions, envisioned Opus as a super-regional bank catering to small and mid-sized businesses, entrepreneurs, and real estate investors across the Western United States. His previous experience included founding and leading Commercial Capital Bancorp, which he sold to Washington Mutual in 2006 for approximately $1 billion.

The bank operated with a relationship-based model, offering a comprehensive suite of banking products and services tailored to its target clientele. This included commercial and business banking, treasury management, and private banking services. A significant part of its business involved providing commercial real estate loans, specialty lending, and financing for healthcare and technology sectors. The bank's growth trajectory included several key milestones, such as its initial public offering in April 2014, which raised over $200 million. However, the bank also faced challenges, including a period of significant losses in its oil and gas loan portfolio, which led to a strategic shift and the eventual departure of its founder, Stephen Gordon, in 2018.

Opus Bank's journey as an independent entity concluded on June 1, 2020, when it was officially acquired by and merged into Pacific Premier Bank. This acquisition created a combined institution with approximately $20 billion in total assets, expanding the service offerings and branch footprint across the Western U.S. for its commercial business clients. Following the merger, the Opus Bank brand was retired, and its operations were fully integrated into Pacific Premier Bank.

Keywords: commercial banking, business lending, real estate investors, treasury management, California bank, wealth management, middle-market finance, IPO, bank acquisition, specialty lending