Daily News: June 26, 2013

Opus Bank Promotes Allison to Co-President

Opus Bank announced that Michael Allison, who has served as Opus’ executive vice president, chief credit officer, and a member of the executive committee since August 2011, has been promoted to co-president; Don Royer, general counsel, has been promoted to senior executive vice president; and Bob Granfelt, senior regional credit administrator for the Washington region, has been promoted to chief credit officer.

Allison’s 30-year banking career is punctuated by senior leadership positions focused on commercial business and real estate-related credit, relationship-based corporate and commercial banking, loan asset generation and bank strategy.

He previously served as executive vice president and chief credit officer at Cascade Bancorp and its bank subsidiary, Bank of the Cascades, and was a member of the executive team that successfully completed the $177 million recapitalization led by investors including WL Ross & Co., Leonard Green & Partners, and Lightyear Capital.

Earlier in his career, Allison served as executive vice president, head of Commercial Real Estate Lending (CREL) at WaMu; and ultimately as WaMu’s executive vice president, deputy chief credit officer, focused on credit related to the commercial banking side of WaMu; comprised of all C&I, multifamily, and commercial real estate banking across WaMu’s national platform.

Previously, Allison held senior positions with Seafirst Bank and Bank of America in Washington and Oregon, with an emphasis on asset-based lending and commercial banking. He began his career with BarclaysAmerican Business Credit and Walter Heller Western.