Opus Bank Announces Appointment of Mal Durkee to Its Board of Directors

– Replaces Mark Cicirelli as Elliott Management Corporation
Representative –

IRVINE, Calif.–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24OPB&src=ctag” target=”_blank”gt;$OPBlt;/agt; lt;a href=”https://twitter.com/hashtag/Opus?src=hash” target=”_blank”gt;#Opuslt;/agt;–Opus Bank (“Opus”) (NASDAQ: OPB) announced today that G Malpass (“Mal”)
Durkee has been appointed to Opus’ Board of Directors, effective May 17,
2019, and appointed a member of the Risk Oversight Committee. Mr. Durkee
replaces Mark Cicirelli, who concurrently resigned from Opus’ Board of
Directors, effective May 17, 2019. Opus’ Board membership remains at
nine.

Paul G. Greig, Chairman of the Board of Opus Bank, stated, “On behalf of
Opus, I thank Mark for his enduring commitment to Opus since his joining
the Board in 2012. We are grateful for Mark’s valuable contributions
throughout his tenure and wish him the best.”

Mr. Greig added, “I am pleased to welcome Mal and look forward to
working with him as a member of Opus’ Board. I have great confidence
that Opus will benefit greatly from his deep and broad financial
institution advisory knowledge, including in the development and
execution of significant strategic initiatives with a number of the
nation’s most prestigious financial services firms.”

Mr. Durkee currently serves as a Strategic Advisor to financial services
companies, fintechs, and institutional investors. From 2010 to 2013, Mr.
Durkee served as Partner of Corporate Advisory Group at Perella Weinberg
Partners LP, where he focused on providing strategic and financial
advice to depository institutions. From 2009 to 2010, Mr. Durkee served
as Special Advisor to the Chairman and CEO of The Hartford. From 2008 to
2009, Mr. Durkee served as a Managing Director and Co-Head of North
American Banks at Morgan Stanley. From 1995 to 2007, Mr. Durkee served
at Merrill Lynch, last serving as Managing Director, Head of Depository
Practice. Mr. Durkee began his career in the financial services industry
in 1986 at Security Pacific National Bank, where he served as a Vice
President within the Strategic Planning Group. Mr. Durkee holds a B.A.
in Economics from Occidental College.

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Opus Bank is an FDIC insured California-chartered commercial bank with
$7.7 billion of total assets, $5.5 billion of total loans, and $6.1
billion in total deposits as of March 31, 2019. Opus Bank provides
commercial and retail banking products and solutions to its clients in
western markets from its headquarters in Irvine, California and through
47 banking offices, including 28 in California, 16 in the Seattle/Puget
Sound region in Washington, two in the Phoenix metropolitan area of
Arizona and one in Portland, Oregon. Opus Bank offers a suite of
treasury and cash management and depository solutions, and a wide range
of loan products, including commercial, healthcare, media and
entertainment, corporate finance, multifamily residential, commercial
real estate and structured finance, and is an SBA preferred lender. Opus
Bank offers commercial escrow services and facilitates 1031 Exchange
transactions through its Escrow and Exchange divisions. Additionally,
Opus Bank’s wholly-owned subsidiary, PENSCO Trust Company, has
approximately $14 billion of custodial IRA assets and approximately
48,000 client accounts, which are comprised of self-directed investors,
financial institutions, capital raisers and financial advisors. Opus
Bank is an Equal Housing Lender. For additional information about Opus
Bank, please visit our website: www.opusbank.com.

Forward-Looking Statements

This release may include forward-looking statements related to Opus’
plans, beliefs and goals, which involve certain risks, and uncertainties
that could cause actual results to differ materially from those in the
forward-looking statements. The forward-looking information presented in
this press release is not a guarantee of future events, and actual
events may differ materially from those made in or suggested by the
forward-looking information contained in this press release.
Forward-looking statements generally can be identified by the use of
forward-looking terminology such as “intend” or “expect” or variations
thereon or similar terminology. All such statements speak only as of the
date made, and Opus undertakes no obligation to update or revise
publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.

Contacts

Mr. Jeff L. Leonard
SVP, Dir. of Corporate Strategy/Communications
Telephone:
(949) 251-8146

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