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Stock Market & Financial Investment News

News Breaks
May 13, 2014
05:30 EDTOPBOpus Bank initiated with an Outperform at Keefe Bruyette
Target $36.
News For OPB From The Last 14 Days
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January 25, 2016
07:07 EDTOPBOpus Bank increases quarterly dividend 25% to 15c per share
Opus Bank said its board increased its quarterly cash dividend by 25% to 15c per share. Chairman and CEO Stephen H. Gordon said that the increase " reflects our strong capital position, asset quality, liquidity, increasing earnings power and return metrics, and confidence in our ability to execute our business strategy and growth plans."
07:06 EDTOPBOpus Bank reports Q4 EPS 50c, consensus 57c
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06:47 EDTOPBOpus Bank agrees to acquire PENSCO Trust Company
Opus Bank announced that it has entered into a definitive agreement to acquire PENSCO Trust Company,, a wholly-owned subsidiary of PENSCO Services. Under the terms of the agreement, PENSCO shareholders and members will receive aggregate consideration comprised of 1,698,529 shares of Opus Bank common stock and $47.25 million in cash, subject to certain adjustments set forth in the definitive agreement. The transaction is expected to close early in the second quarter of 2016, subject to certain regulatory approvals or non-objections and approvals by PENSCO's shareholders and members, after which PENSCO will operate as a subsidiary of Opus. PENSCO shareholders and members have entered into voting agreements which provide for the requisite approvals when special meetings are held to vote on the transaction. Kelly Rodriques, President and Chief Executive Officer of PENSCO, will continue in the role of President and Chief Executive Officer of PENSCO, and will join Opus as Executive Vice President-Wealth Services.

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