OPUS BANK (Exact name of registrant as specified in its charter)

Transcription

1 FEDERAL DEPOSIT INSURANCE CORPORATION WASHINGTON, DC FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): May 9, 2016 OPUS BANK (Exact name of registrant as specified in its charter) California (State or other jurisdiction of incorporation) MacArthur Blvd., 12 th Floor Irvine, CA (Address, including zip code, of principal executive office) Registrant s telephone number, including area code: (949) (IRS Employer Identification No.) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communication pursuant to Rule 425 under the Securities Act (17 CFR ) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR e-4(c))

2 Item 7.01 Regulation FD Disclosure On May 9, 2016, Opus Bank (the Bank ) issued a press release announcing that its PENSCO Trust subsidiary is opening significantly more accounts online due to its award winning Alt-Nav technology. A copy of the May 9, 2016 press release is included as Exhibit 99.1 hereto. The information furnished under Item 7.01 and Item 9.01 of this Current Report on Form 8-K, including the exhibits, shall not be deemed filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to liabilities under that Section, nor shall it be deemed incorporated by reference in any registration statement or other filings of the Bank with the Federal Deposit Insurance Corporation, except as shall be set forth by specific reference in such filing. Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press Release, dated May 9, 2016, titled Opus Bank Announces Its PENSCO Trust Subsidiary Is Opening Significantly More Accounts Online Due To Its Award Winning Alt-Nav Technology

3 SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: May 9, 2016 Opus Bank By: /s/ Stephen H. Gordon Name: Stephen H. Gordon Title: Chairman, President and Chief Executive Officer

4 Exhibit No Press Release, dated May 9, 2016, titled Opus Bank Announces Its PENSCO Trust Subsidiary Is Opening Significantly More Accounts Online Due To Its Award Winning Alt-Nav Technology

5 OPUS BANK ANNOUNCES ITS PENSCO TRUST SUBSIDIARY IS OPENING SIGNIFICANTLY MORE ACCOUNTS ONLINE DUE TO ITS AWARD WINNING ALT-NAV TECHNOLOGY IRVINE, Calif. May 9, 2016 Opus Bank ( Opus ) (NASDAQ: OPB) announced today that its wholly-owned subsidiary, PENSCO Trust Company ( PENSCO ), a leading tech-enabled alternative asset IRA custodian, with approximately $11 billion of custodial assets and over 45,000 clients with investments in over 40,000 unique asset types comprised of private equity, real estate, notes, cash, and other non-exchange traded assets, has experienced a significant increase in online account openings as a result of the enhancement of its Alt-Nav technology with Straight-Through-Processing ( STP ). The percentage of PENSCO new accounts opened online increased 62% during the first four months of 2016 when compared to the percentage of accounts opened online in 2013 when PENSCO initially launched its online account opening capability. The percentage of accounts opened online increased further since the Alt-Nav technology with the STP enhancement rolled out in February During February 2016, 42% of PENSCO s new accounts were opened online through Alt-Nav with STP, with 18% of those accounts opened after business hours. Those results increased significantly to 69% in March 2016 with 19% of those being opened after business hours, and increased further to 70% in April 2016, with 20% of those opened after business hours. PENSCO s Alt-Nav technology solution, which received the award for Most Innovative Technology Solution at this year s HFM US Technology Awards, streamlines opening, funding, and investing in alternative assets using individual retirement accounts. It reduces the typical process from weeks to days, while delivering transparency, administrative accuracy, and an intuitive user experience for capital raisers, financial professionals, and individual investors. Alt- Nav is a first-of-its-kind FinTech solution designed to help financial professionals and those trying to raise capital including fund managers, private businesses and entrepreneurs work seamlessly with individuals who invest in non-traded alternative assets using their self-directed IRA. Individual investors in alternative assets can use PENSCO s Alt-Nav technology solution to open and fund their self-directed IRA held at PENSCO entirely online, as well as complete an investment authorization, which is pre-populated with a capital raiser s deal information. Alt-Nav eliminates the need for the investor to provide the same personal and deal information across multiple documents, significantly limiting the need for additional investment documents. Additionally, an advisor, fund manager, or other capital raiser can quickly and efficiently upload investment documents electronically and then easily invite prospective investors to open, fund, and invest with just a few clicks. PENSCO continues to increase the functionality of Alt-Nav and expects to release new functionality for advisors and wirehouses in the near future. Kelly Rodriques, President and CEO of PENSCO and Executive Vice President Wealth Services of Opus, stated The process for opening, funding, and investing in alternative assets through an individual retirement account historically has been a complex labyrinth of people and paper intensive processes, if you could actually find a custodian willing to support and hold the alternative investment asset class. Today, PENSCO clients have the ability to open an account anytime they choose through a streamlined user experience. Rodriques added, The Alt-Nav

6 technology resides within PENSCO s high-speed, scalable, and reliable platform that is securely integrated to facilitate the exchange of information electronically, without the need for repetitive re-keying or manual intervention. At a time when investors are increasingly looking for diversification, PENSCO s Alt-Nav technology is at the forefront of innovation by serving as a catalyst and an enabler for alternative investment opportunities. Patrick Hughes, SVP, Business Development, concluded, Given the increased adoption rate of our needed proprietary technology, the important role PENSCO plays as a leading alternative asset IRA Custodian, and the financial strength of our parent, Opus Bank, we re now well positioned to focus on realizing even greater scale as we look to meaningfully increase PENSCO s client base, assets under custody, and revenues, while continuing to deliver exceptional client service. About Opus Bank Opus Bank is an FDIC insured California-chartered commercial bank with $6.9 billion of total assets, $5.8 billion of total loans, and $5.2 billion in total deposits as of March 31, 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, 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 s subsidiary, PENSCO Trust Company, is a leading tech-enabled alternative asset IRA custodian with approximately $11 billion of custodial assets and over 45,000 clients, which are comprised of self-directed investors, financial institutions, capital raisers, and financial advisors. 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. For additional information about Opus Bank, please visit our website: About PENSCO Trust Company PENSCO Trust Company has been helping investors use their retirement account funds to invest in real estate, private equity and other non-exchange traded assets since As the trusted custodian of approximately $11 billion in assets on behalf of more than 45,000 clients, PENSCO works with financial institutions, capital raisers and financial advisors, as well as self-directed investors who typically have a point of view about alternative investments based on their own knowledge or expertise and want to put their tax-advantaged retirement dollars to work in these opportunities.to learn more visit Disclaimers: PENSCO Trust Company performs the duties of an independent retirement custodian, and, as such, does not provide investment advice, sell investments or offer any tax or legal advice. PENSCO is not affiliated with any financial professional, investment, investment sponsor, or investment, tax or legal advisor; including any who are listed in The Marketplace. Clients or

7 potential clients are advised to perform their own due diligence in choosing any investment opportunity as well as any professional to assist them with an investment opportunity. Alternative investments are not FDIC insured and are subject to risk, including loss of principal. The list of individuals in The Marketplace should not be considered a complete list of individuals/firms with whom you may work, and is being provided for informational purposes only. It is not intended as an individual recommendation, and each individual is encouraged to perform their own duediligence on any financial professional with whom they intend to work. 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. Connect with PENSCO Trust Company PENSCO.com LinkedIn Twitter PENSCO Blog Connect with Opus Bank OpusBank.com LinkedIn Twitter YouTube Contact: Mr. Jeff L. Leonard SVP, Director of Communications, Opus Bank Telephone: (949) Ms. Peggy Cramer Vice President of Communications, PENSCO Trust Company Telephone: (415) Source: Opus Bank