Opus Bank announced that Michael L. Allison was elected to Opus’ Board of Directors at the Bank’s 2016 Annual Meeting of Shareholders held on Thursday, April 28, 2016. Allison joined Opus in August of 2011 and serves as Co-President and President of Opus’ Commercial Bank.

Allison was named President of the Commercial Bank in June 2013 and is responsible for Opus’ commercial business and real estate related credit, relationship-based corporate and commercial banking, loan asset generation, and bank strategy. Allison's 33-year banking career has focused on credit and origination related to commercial banking, including asset based lending, commercial and industrial, multifamily residential and commercial real estate lending. Additionally, he has extensive bank acquisition and recapitalization experience having been involved in the acquisitions of Bank United Corp., Dime Bancorp, and Commercial Capital Bancorp by Washington Mutual, and the recapitalization of Cascade Bancorp. From 2001 to 2009, Mr. Allison served in executive positions at Washington Mutual and at JPMorgan Chase following its acquisition of Washington Mutual in 2008.

Stephen H. Gordon, Founding Chairman, CEO, & President stated, “We are pleased to announce that Michael has been elected to Opus’ Board of Directors. I’m particularly proud that Michael, as a true partner in building Opus, and in the spirit of meritocracy, now joins me in the boardroom steering the future success of Opus. Since joining nearly five years ago, Michael has continually shared the depth and breadth of his experience and, through his passionate leadership, has had a significant positive impact on the growth, maturation, and entrepreneurial culture of Opus.” Gordon concluded, “Michael will hold the board seat previously held by Richard Sanchez, who continues with Opus in his current roles as Executive Vice President, Chief Risk Officer and Chief Administrative Officer.”
About Opus Bank

Opus Bank is an FDIC insured California-chartered commercial bank with $6.9 billion of total assets, $5.8 billion of total loans, and $5.2 billion in total deposits as of March 31, 2016.