Opus Bank announced Michael Allison, who has served as Opus’ Executive Vice President, Chief Credit Officer, and a member of the Executive Committee since August 2011, has been promoted to co-president; Don Royer, general counsel, has been promoted to senior executive vice president; and Bob Granfelt, senior regional credit administrator for the Washington Region, has been promoted to chief credit officer.
Allison’s distinguished 30-year banking career is punctuated by senior leadership positions focused on commercial business and real estate-related credit, relationship-based corporate and commercial banking, loan asset generation, and bank strategy. He previously served as executive vice president and chief credit officer at Cascade Bancorp and its bank subsidiary, Bank of the Cascades, and was a member of the executive team that successfully completed the $177 million recapitalization led by investors including WL Ross & Co., Leonard Green & Partners, and Lightyear Capital. Earlier in his career, Allison served as EVP and Head of Commercial Real Estate Lending (“CREL”) at WaMu; and ultimately as WaMu’s Executive Vice President, Deputy Chief Credit Officer, focused on credit related to the commercial banking side of WaMu; comprised of all C&I, multifamily, and commercial real estate banking across WaMu’s national platform. Previously, Allison held senior positions with Seafirst Bank and Bank of America in Washington and Oregon, with an emphasis on asset-based lending and commercial banking. He began his career with BarclaysAmerican Business Credit and Walter Heller Western, Inc., where he focused on secured commercial borrowing relationships and factoring.
Stephen H. Gordon, founding chairman and CEO, and president of Opus Bank, stated, “Since joining Opus two years ago, Michael has tirelessly displayed the depth and breadth of his experience and leadership in the areas of credit, portfolio management, and strategic planning, and has had a significant positive impact on the growth and maturation of Opus Bank, driving an expanded and more sophisticated relationship-based approach as we’ve grown all of Opus Bank’s lines of business. Michael’s extensive experience in relationship-based commercial banking, corporate banking, commercial finance, and commercial real estate banking, in national, regional, and community-based financial institutions, gives him a unique and invaluable perspective.”
Gordon added, “The promotions of Don Royer and Bob Granfelt are in recognition of the consistent leadership and direction they have provided throughout the organization.” Gordon concluded, “As we mature up Opus Bank and execute on the long-term plan to strategically grow the Bank from now over $3.0 billion in total assets to becoming the dominant relationship-based regional bank on the West Coast, it is critical that we efficiently scale every area of the Bank, and leverage the depth, breadth, and strength of the executive management team.”
Opus Bank is an FDIC insured California-chartered commercial bank with $3.0 billion of total assets, $2.3 billion of total loans, and $2.1 billion in total deposits, as of March 31, 2013.