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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 26, 2015
07:04 EDTOPBOpus Bank reports Q4 EPS 38c, consensus 34c
Reports Q4 net interest income $42.2M. Reports tangible book value per as converted common share at December 31 was $17.27. Capital ratios remain strong at 11.29% Tier 1 leverage, 13.26% Tier 1 risk-based capital and 13.87% total risk-based capital at December 31, 2014.
January 22, 2015
07:01 EDTOPBOpus Bank to acquire Commerce Escrow Company, RPM Investments
Opus Bank has entered into a definitive agreement to acquire both Commerce Escrow Company, an independent Los Angeles-based escrow company focused on commercial business and commercial real estate transactions, and RPM Investments, an independent accommodator for tax-deferred commercial exchanges under Section 1031 of the Internal Revenue Code. Under the terms of the agreement, shareholders of CEC and RPM will receive aggregate consideration of $25M, with 55% payable in Opus Bank common stock, which shall be valued based on the average of the closing prices of Opus common stock over the 10 business days ending the day prior to the closing date, and 45% payable in cash. The transaction is expected to close in the latter part of the first quarter of 2015, after which CEC and RPM will operate as separate divisions within Opus. Mark Minsky, President of CEC and RPM, will assume the role of Senior Managing Director, Robert Minsky will serve as Managing Director and Danielle Graf Kitzes as Director of the CEC and RPM divisions. Opus Bank was represented by Holland & Knight and CEC and RPM were represented by Davis & Davis Law Group in this transaction.

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