Opus Bank in Irvine, Calif., has hired a co-president and chief operating officer.
Michael Allison, formerly the company's chief credit officer, was promoted to co-president, the $3 billion-asset bank announced Tuesday. Allison, who has held the top credit post since 2011, will share a title with Stephen Gordon, who is also the bank's chairman and chief executive.
Bob Granfelt, who was tapped to succeed Allison as chief credit officer, was a senior regional credit administrator for the Washington region.
Romolo Santarosa was named chief operating officer. The position is new, a company spokesman said. Santarosa joined Opus from First California Financial Group and its unit, First California Bank, where he was chief financial officer and chief operating officer.
Opus also promoted Don Royer, its general counsel, to senior executive vice president.
"As we mature up Opus Bank and execute on the long-term plan to strategically grow the bank it is critical that we efficiently scale every area of the bank, and leverage the depth, breadth, and strength of the executive management team," Gordon said in a press release.
Opus has been expanding in the past year largely through branch acquisitions. It bought four California branches from Zions Bancorp (ZION) in May, and announced plans to open branches in Arizona, Los Angeles and Seattle in January. In September, it completed the purchase of 10 Southern California branches from PacWest Bancorp (PACW).