Opus Bank Completes Acquisition of RMG Capital Corporation and Fullerton Community Bank, FSB

Money SignOpus Bank stated today that its acquisition of RMG Capital Corporation ("RMG") was completed effective at the close of business on October 31, 2011. In accordance with the Agreement and Plan of Reorganization announced on June 6, 2011, RMG's bank subsidiary, Fullerton Community Bank, FSB ("Fullerton"), merged with and into Opus Bank, with Opus Bank as the surviving institution.

Stephen H. Gordon, Chairman, President, and Chief Executive Officer of Opus Bank, stated, "I am proud of the tremendous effort by all involved to bring these two great institutions together, and am excited to welcome Fullerton's clients to Opus Bank. I look forward to the Fullerton banking team, including Tom Meyer, former Chairman of RMG and former Chairman and CEO of Fullerton, who joins Opus Bank as President of the Orange County Region and Senior Managing Director, Commercial Business Banking for Opus Bank's Orange County and Los Angeles County Regions, contributing to the success of Opus Bank and that of its clients. We will continue our steadfast commitment to delivering the same high-quality, relationship-based community banking experience that both of our banks take great pride in having been founded upon, as we grow into a strong, super-community bank with a presence in all the major metropolitan areas up and down the West Coast." Gordon added, "With one of the highest capital ratios in the Western region, 37 banking offices, and its strong reputation for focusing on Commercial Business, Income Property, Residential Real Estate, Retail, and Private Relationship Banking, Opus Bank is well positioned to partner with those small and mid-sized commercial businesses, entrepreneurs, real estate investors, high-net-worth individuals, professionals, and consumers who share our vision to expand and grow."

About Opus Bank

Opus Bank, headquartered in Irvine, CA, is an FDIC insured California-chartered commercial bank with $1.9 billion of total assets, $1.1 billion of total loans, and $1.4 billion in total deposits, as of September 30, 2011, before the impact of the acquisition of RMG and Fullerton that closed on October 31, 2011. At September 30, 2011, Fullerton reported $636.3 million of total assets, $475.9 million of total loans, and $473.8 million in total deposits. Opus Bank provides high value, relationship-based banking products and exceptional service to its clients comprised of small and mid-sized commercial businesses, entrepreneurs, real estate investors, high-net-worth individuals, professionals, and consumers. Opus Bank offers a wide range of loan products, including commercial and industrial, commercial real estate, multifamily residential, jumbo single-family residential, and consumer loans; and is a Small Business Administration ("SBA") Preferred Lender. Opus Bank currently operates 37 banking offices, including 22 in the Seattle/Puget Sound region in Washington and 15 banking offices in Southern California. Opus Bank has announced plans to open new banking offices in Danville, located in Contra Costa County; Encino, Long Beach, and West Los Angeles, located in Los Angeles County; Irvine, and Laguna Niguel, located in Orange County; Del Mar and La Jolla, located in San Diego County, California; and Kirkland, located in King County, Washington. For additional information about Opus Bank, please visit our website: www.opusbank.com .

SOURCE: Opus Bank

Original Link: http://www.marketwatch.com/story/opus-bank-completes-acquisition-of-rmg-capital-corporation-and-fullerton-community-bank-fsb-2011-11-01

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