Opus Bank in Irvine, Calif., has signed a lease to open its first banking office in Oregon.
The $4.7 billion-asset company said in a press release that it expects to open the downtown Portland office in the second quarter. The office will house the company's commercial business, income property, technology, healthcare, structured finance, fiduciary and merchant banking divisions. The planned branch will be led by bankers who have "deep roots" in the Portland metropolitan area, according to a Thursday press release.
Grant Word, who has 24 years of banking experience and leads Opus' commercial business banking operations in the Pacific Northwest region, will be one of the new branches' top executives. The office will also include William Jones, Patricia Sturgill and Kevin Geraci.
Opus has roughly 150 bankers and 24 branches in the Pacific Northwest.
"It is our intention to hire additional highly successful bankers in Oregon's metropolitan regions, including Portland and Eugene, to support our planned expansion and growth," Stephen Gordon, Opus' chairman, president and chief executive, said in the release.