Opus Bank in Irvine, Calif., has started a public finance division and hired an executive from Umpqua Bank to run it.
The $7.5 billion-asset bank said in a press release Tuesday that the division will provide senior financing for entities including municipalities, school districts, and water and sanitation agencies, as well as nonprofit organizations in medical care, public services and education.
Dmitry Semenov will lead the division as senior managing director and head of public finance. Semenov was vice president of public finance at Umpqua, in Portland, Ore. He has also been assistant vice president of commercial real estate with River City Bank in Sacramento, Calif.
Opus Bank has 56 offices in California, Portland, Washington state and Arizona.