Paul Davis

Opus Bank has added Paul Greig, who was CEO of FirstMerit until its sale in July, as a director.

Specialization — either in types of customers, lines of business or distinct geographies — is one of the best ways for small banks to outdo larger rivals that rely on scale to make money.

Ashton Ryan, who had been removed as CEO in December, had been serving as its president. The New Orleans company also agreed to sell preferred stock to directors to help it make payments tied to its subordinated debt.

The deal, which is expected to close in the fourth quarter, should significantly increase PacWest's operations in Southern California.

The company will sell five branches in Wisconsin to an unnamed buyer. It also plans to close two locations.

The Tennessee company has been working to resolve a memorandum of understanding tied to its CRE exposure.

The Office of the Comptroller of the Currency issued the directive following an interim examination.

Opes Advisors has 39 locations in California, Oregon and Washington. The firm generated $3 billion in mortgages last year.

Live Oak Bancshares in North Carolina has hired Scott Custer to run its bank. Custer recently resigned as a consultant to F.N.B. Corp. in a move that took place days after F.N.B. bought Yadkin Financial, where he had been president and CEO.

Scott Custer resigned as a director and paid consultant to F.N.B. days after the Pittsburgh company bought Yadkin to enter North Carolina.