Shares of Opus Bank fell hard Monday after the Irvine, Calif., company warned that it will report a third-quarter loss due to credit issues.

The $7.5 billion-asset bank said in a press release that it expects to report a loss of 5 cents a share, reflecting $38.8 million in chargeoffs tied to eight loans in its technology, commercial and specialty lending divisions.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.