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Opus Bank Appoints Paul W. Taylor as Chief Executive Officer and President

IRVINE, Calif.--(BUSINESS WIRE)--

Opus Bank (“Opus” or the “Bank”) (OPB) announced today that Paul W. Taylor has been appointed Chief Executive Officer and President of Opus, effective today. Additionally, Mr. Taylor was simultaneously appointed to Opus’ Board of Directors. Mr. Taylor, a 34-year banking and finance veteran, most recently served as Chief Executive Officer and President of Denver, Colorado-based Guaranty Bancorp, and its wholly-owned bank subsidiary, Guaranty Bank & Trust.

Mr. Taylor succeeds Paul G. Greig, Chairman of Opus’ Board of Directors, who has served as Interim Chief Executive Officer and President of Opus Bank since November 2018. Mr. Greig will continue as Chairman of the Board, a position he has held since January 2018.

Paul Greig, Chairman of the Board of Opus Bank, stated, “I am thrilled that an experienced banker such as Paul, who has successfully managed a highly profitable, mid-sized bank, as well as held executive roles within one of the nation’s larger banks, has agreed to join Opus Bank. I have great confidence that Paul will make an excellent fit for the role and look forward to his contributions in leading the company and enhancing its earnings profile. I would like to thank all of Opus’ team members for their dedication and hard work during the transition in executive leadership.”

Paul Taylor, Chief Executive Officer and President of Opus Bank, commented, “I look forward to working closely with Opus’ Board, executive leadership, and all team members as we strive to make Opus into one of the leading commercial banks in the Western region.” Mr. Taylor added, “I am confident in the team's ability to restore Opus’ growth momentum, while maintaining an appropriate risk profile. Successfully executing our business strategies will enable the Bank to deliver strong results, thereby enhancing shareholder value, as well as to give back to the communities we proudly serve.”

Mr. Taylor joins Opus most recently from Guaranty Bancorp, where he served as President and CEO from May 2011 until December 2018. From 2009 to 2011, Mr. Taylor served as Guaranty Bank's Executive Vice President, Chief Financial Officer, Chief Operating Officer, and Secretary. From 2004 to 2009, Mr. Taylor served as Guaranty Bank's Executive Vice President and Chief Financial Officer. From 2000 to 2004, he served as Executive Vice President, Chief Financial Officer for Centennial Bank Holdings until its acquisition by Guaranty Bancorp. From 1998 to 2000, Mr. Taylor served as Director of Mergers and Acquisitions for Alex Sheshunoff Investment Banking. Earlier in his career, Mr. Taylor served as Director of Investment Banking with Century Capital Group. Mr. Taylor began his banking career in 1985 at KeyCorp, where he held various executive management positions in the New York and the Rocky Mountain regions. Mr. Taylor earned a Bachelor of Science degree in Business Economics from the State University of New York and is a graduate of the Pacific Coast Banking School at the University of Washington.

Opus’ Board of Directors retained Korn Ferry to assist with the process of identifying a pool of highly qualified senior banking executive candidates.

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About Opus Bank

Opus Bank is an FDIC insured California-chartered commercial bank with $7.7 billion of total assets, $5.5 billion of total loans, and $6.1 billion in total deposits as of March 31, 2019. Opus Bank provides commercial and retail banking products and solutions to its clients in western markets from its headquarters in Irvine, California and through 47 banking offices, including 28 in California, 16 in the Seattle/Puget Sound region in Washington, two in the Phoenix metropolitan area of Arizona and one in Portland, Oregon. Opus Bank offers a suite of treasury and cash management and depository solutions, and a wide range of loan products, including commercial, healthcare, media and entertainment, corporate finance, 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. Additionally, Opus Bank’s wholly-owned subsidiary, PENSCO Trust Company, has approximately $14 billion of custodial IRA assets and approximately 48,000 client accounts, which are comprised of self-directed investors, financial institutions, capital raisers and financial advisors. Opus Bank is an Equal Housing Lender. For additional information about Opus Bank, please visit our website: www.opusbank.com.

Forward-Looking Statements

This 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.

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