Pacific Premier will acquire Opus Bank in an all-stock transaction valued at approximately $1 billion, or $26.82 per share, based on a closing price for Pacific Premier’s common stock of $29.80 as of January 31, 2020.
Mary E. “Mimi” Thigpen has been appointed to Opus Bank’s board of directors, effective December 27, 2019, and appointed a member of each of the Audit Committee and Risk Oversight Committee.
Melanie S. Cibik has been appointed to Opus Bank’s board of directors. Concurrently, director Mark E. Schaffer voluntarily resigned from the board in accordance with the board’s retirement policy.
G. Malpass “Mal” Durkee has been appointed to Opus Bank’s Board of Directors as a member of the Risk Oversight Committee. Durkee replaces Mark Cicirelli, who concurrently resigned from the board.
Twenty-five year industry veteran David Foxhoven joined Opus Bank subsidiary PENSCO Trust as vice president, head of Operations.
Opus Bank expanded its Commercial Banking team in Los Angeles’ South Bay region with the hires of Mark Hamburg as senior managing director, senior client manager and Carlos Vega as director, client manager.