Simpson Thacher recently represented the underwriters, led by J.P. Morgan Securities LLC, in the initial public offering of Opus Bank. The offering raised net proceeds of approximately $143.8 million to Opus Bank and certain selling stockholders. Opus Bank’s common stock is listed on the Nasdaq Global Select Market under the ticker symbol “OPB.”
Opus Bank is an FDIC insured California-chartered commercial bank with over $3.7 billion of total assets, $2.9 billion of total loans, and $2.7 billion in total deposits as of December 31, 2013. Opus Bank operates 60 banking offices, including two banking offices in the Phoenix metropolitan area of Arizona, 34 banking offices in California and 24 banking offices in the Seattle/Puget Sound region of Washington.
The Simpson Thacher team included Lee Meyerson, Lesley Peng, Sunny Cheong and Eric Schulman (Capital Markets); Jonathan Cantor and Vanessa Grieve (Tax); David Rubinsky and Jeannine McSweeney (Executive Compensation and Employee Benefits); Mark Chorazak (Bank Regulatory); and Jennie Getsin (FINRA and Blue Sky).