Opus Bank Further Strengthens Its Leading Income Property Banking Team

− Richard Kovalcheck Joins as Director, Income Property Banking – San Diego Region –

IRVINE, Calif.--(BUSINESS WIRE)-- Opus Bank (“Opus” or the “Bank”) (NASDAQ: OPB) announced today that Richard Kovalcheck has joined Opus as Director, Income Property Banking – San Diego Region. Mr. Kovalcheck joined Opus from Marcus & Millichap Capital Corporation and is responsible for providing debt financing solutions to, and further expanding, Opus’ Income Property Banking client base in the San Diego metropolitan market.

Ed Padilla, SVP, Head of Commercial Real Estate Banking stated, “We are excited to have Richard join Opus’ deep banking presence in San Diego as we continue to grow and further strengthen our leading Multifamily and Commercial Real Estate Banking team, which has provided approximately $700 million of debt financing in the San Diego Region since February 2011. He is a highly regarded banker with a unique understanding of the region’s income property real estate market and has a very deep and broad base of relationships, including borrower clients, commercial real estate brokers, bankers, and advisors. We’ve had a mutually beneficial working relationship with Richard for some time and have greatly enjoyed doing a lot of business together over the years while he was at Marcus & Millichap. We’re thrilled the opportunity finally presented itself to work with him here at Opus.” Padilla added, “We look forward to Opus’ multifamily and commercial real estate investor clients benefiting from Richard’s years of local knowledge and experience, coupled with his proven tenacity and success.”

Richard Kovalcheck, Director of Income Property Banking – San Diego stated, “Over our many years in San Diego County, we’ve seen countless smaller banks and other lenders come and go, only to leave behind the important entrepreneurial real estate investors who, over numerous cycles, have continued to passionately make an economic and social difference in the San Diego region. Opus understands the responsibility of loyalty, commitment, and community, just as I very much understand the significance of my career decision to join Opus.” Mr. Kovalcheck concluded, “While Opus is the fastest growing bank in the Western U.S. and one of the largest multifamily lenders on the West Coast, Opus has not forgotten its roots. The Bank still remains nimble, relationship-driven, and entrepreneurial, as evidenced by the Bank’s growth from its start in late 2010 to now over $6.6 billion in total assets. Given Opus’ strength in total assets, large capital base, over $1 billion market cap, as well as its entrepreneurial and collaborative culture, I look forward to consistently bringing to our clients the full force of the firm for many years to come.

Mr. Kovalcheck joins Opus Bank most recently from Marcus & Millichap Capital Corporation where he served as a Director, providing debt financing solutions to multifamily and commercial real estate investor/owner/operator clients in the San Diego and Inland Empire regional markets. From 2011 through 2012, Mr. Kovalcheck served as a Business Development Associate with Plaza Bank in San Diego, where as a portfolio lender he sourced and underwrote loans secured by owner-user commercial real estate. In addition to his successful real estate career, Mr. Kovalcheck had a decorated collegiate football career at the University of Arizona, where he was the quarterback from 2003 through 2005 and was an All-Freshman PAC-10 selection, and at Vanderbilt University, where he was the quarterback from 2006 through 2007, while pursuing his Master’s degree. Mr. Kovalcheck earned academic honors and awards throughout his college career, including South Eastern Conference Academic Honor Roll, University of Arizona Football Academic Champion, and the National Football Foundation Hall of Fame Scholar Athlete. Following his collegiate career, Mr. Kovalcheck played professional football in Australia and Italy, where he set numerous passing records and was named MVP. Mr. Kovalcheck holds a Bachelor of Science degree in Business Administration from the University of Arizona’s Eller College of Management and a Master of Business Administration degree from Vanderbilt University’s Owen Graduate School of Management. Mr. Kovalcheck was born and raised in San Diego, having attended St. Augustine High School, and currently resides in San Diego’s Bay Park neighborhood with his wife and son.

About Opus BankOpus Bank is an FDIC insured California-chartered commercial bank with $6.6 billion of total assets, $5.5 billion of total loans, and $5.3 billion in total deposits as of December 31, 2015. Opus Bank provides high-value, relationship-based banking products, services, and solutions to its clients through its Retail Bank, Commercial Bank, Merchant Bank, and Correspondent Bank. Opus Bank offers a suite of treasury and cash management and depository solutions and a wide range of loan products, including commercial business, healthcare, technology, 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. Opus Bank provides clients with financial and advisory services related to raising equity capital, targeted acquisition and divestiture strategies, general mergers and acquisitions, debt and equity financing, balance sheet restructuring, valuation, strategy, and performance improvement through its Merchant Banking division and its broker-dealer subsidiary, Opus Financial Partners. Opus Bank operates 58 client experience centers, including 33 in California, 22 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona, and one in Portland, Oregon. Opus Bank is an Equal Housing Lender.

Forward-Looking StatementsThis 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.

Connect with Opus BankOpusBank.com │ LinkedIn │ Twitter │ YouTube

View source version on businesswire.com: http://www.businesswire.com/news/home/20160308005448/en/

Opus Bank
Mr. Jeff L. Leonard
SVP, Dir. of Corporate Strategy/Communications
949-251-8146

Source: Opus Bank

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• STRATUM Launches Strategic Asset Intelligence Platform for African Mining and EV Battery Minerals
• Bitcoin News Today: MemeToro Presale Momentum Builds as BTC Holds $64,200 Ahead of Fed Rate Decision
• Crypto News Today: MemeToro Presale Gains Attention as JPMorgan Boosts IBIT and ETHA Holdings by Double Digits