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Opus Bank records net loss for Q4'18

Jan 29, 2019 - SNL Financial
Financial Results

Irvine, Calif.-based Opus Bank posted a net loss of $6.9 million, or 20 cents per share, for the fourth quarter of 2018, compared to net income of $1.2 million, or 3 cents per share, in the year-ago period.

Opus Bank's net loss for the quarter included charges such as $9.9 million in bond portfolio repositioning, $7.1 million in connection with CEO transition, $2.0 million in a noninterest expense reduction initiative and $1.4 million in professional services. Overall, these items hit the ...