Opus Bank (merged into Pacific Premier Bank)
Opus Bank reported total assets of $8.4 bn at Q1 2020, its last Call Report before it merged into Pacific Premier Bank. The CET1 capital ratio at Opus Bank was 11.66%, and the uninsured share of Opus Bank was 51.35%. Source: FDIC Call Reports.
What sets Opus Bank apart
Nothing in the latest data sets Opus Bank apart from banks of its size: no ratio in the top or bottom tenth of its size group, no large rank move or year change, and no acquisition in the FDIC history since 2016. This page is kept out of search results until that changes.
How large is Opus Bank?
The balance sheet of Opus Bank at : assets $8.4 bn, deposits $6.7 bn, net loans $5.9 bn (loans equal to 88.47% of deposits). Securities make up 11.8% of total assets at Opus Bank. Since , when Opus Bank held $6.9 bn, its assets grew 21.0%. In the year to , deposits at Opus Bank rose 10.4% while its total assets rose 9.0%. At , Opus Bank employed 726 full-time equivalent staff across 46 offices, about $11.5 mn of assets per employee and $145.9 mn of deposits per office.
How much funding at Opus Bank is uninsured?
At Opus Bank, uninsured deposits (above the FDIC limit) made up 51.35% of domestic deposits at (+1.66 pp on a year earlier). In dollars, Opus Bank estimated $3.4 bn of uninsured deposits.
Key facts, Q1 2020
| Metric | Value | A year earlier | US rank |
|---|---|---|---|
| Total deposits | $6.7 bn | $6.1 bn (Q1 2019) | |
| Net loans and leases | $5.9 bn | $5.4 bn (Q1 2019) | |
| Loan-to-deposit ratio | 88.47% | 88.85% (Q1 2019) | |
| Tier 1 leverage ratio | 9.64% | 9.86% (Q1 2019) | |
| Total risk-based capital ratio | 15.11% | 14.85% (Q1 2019) | |
| Net interest margin | 2.76% | 3.08% (Q1 2019) | |
| Return on assets (ROA) | -4.14% | 0.58% (Q1 2019) | |
| Efficiency ratio | 64.22% | 71.33% (Q1 2019) | |
| Unrealized gain/loss on available-for-sale securities | Gain of $5.4 mn | Turned from a loss into a gain | |
| Noncurrent loans to total loans | 0.10% | 0.43% (Q1 2019) | |
| Net charge-offs to average loans | -0.04% | -0.12% (Q1 2019) |
US rank of Opus Bank: 1 = highest unless marked 1 = lowest.
Balance sheet
Opus Bank: assets, deposits and loans
- Total assets $8.4bn
- Deposits $6.7bn
- Net loans $5.9bn
Capital and securities
The CET1 ratio of Opus Bank stood at 11.66% in , +0.56 pp year on year. Low and high at Opus Bank since : 8.95% () to 11.85% (). Equity capital of Opus Bank at : $1.0 bn, or 12.0% of total assets. Opus Bank also reported a total capital ratio of 15.11% for , and a tier 1 leverage ratio of 9.64%.
The available-for-sale portfolio of Opus Bank showed an unrealized gain of $5.4 mn at ; the gain turned from a loss into a gain over the year.
Opus Bank: capital ratios
- Total capital 15%
- CET1 12%
- Tier 1 leverage 9.6%
Opus Bank: unrealized securities gains and losses
- Available for sale $5mn
- Held to maturity $0
Profitability and loan quality
For the year to , Opus Bank earned a return on equity of -32.24%; return on assets: -4.14%. Net interest margin at Opus Bank: 2.76%, -0.33 pp in a year. Opus Bank net income: -$84.8 mn, down 881.2% year on year. The efficiency ratio of Opus Bank was 64.22%: about 64 cents cost per revenue dollar, against 64 cents at the median peer.
At , noncurrent loans were 0.10% of total loans at Opus Bank; net charge-offs: -0.04% of average loans. Gross loans and leases at Opus Bank: $6.0 bn at , against $5.5 bn at .
Opus Bank: profitability
- Return on equity -32%
- Net interest margin 2.8%
- Return on assets -4.1%
Peer group of Opus Bank
The peer group of Opus Bank is the 6 banks nearest to it by total assets at : 3 larger and 3 smaller. Of the peers, 1 shares the charter type of Opus Bank (state nonmember bank) and 0 have head offices in California. Against them, Opus Bank shows CET1 ratio 11.66% against a peer median of 11.08%, return on equity -32.24% against a peer median of 2.96% and uninsured deposit share 51.35% against a peer median of 27.72%.
| Bank | Charter | State | Total assets | CET1 ratio | Return on equity | Uninsured share | |
|---|---|---|---|---|---|---|---|
| The Park National Bank | National bank | OH | $8.7 bn | 10.46% | 11.50% | 13.66% | |
| Veritex Community Bank | State member bank | TX | $8.5 bn | not reported | 1.85% | 45.78% | |
| First Commonwealth Bank | State nonmember bank | PA | $8.5 bn | 11.08% | 2.32% | 26.37% | |
| Opus Bank | State nonmember bank | CA | $8.4 bn | 11.66% | -32.24% | 51.35% | |
| Columbia Bank | Federal savings bank | NJ | $8.3 bn | 13.19% | 3.57% | 29.07% | |
| First United Bank and Trust Company | State member bank | OK | $8.1 bn | 10.47% | 12.74% | 31.39% | |
| Amerant Bank | National bank | FL | $8.1 bn | 12.40% | 2.34% | 24.97% | |
. FDIC Call Reports.
Last eight quarters
Two years at Opus Bank, to : assets $7.2 bn to $8.4 bn, deposits $5.9 bn to $6.7 bn, equity $1.0 bn to $1.0 bn. Staff 804 to 726; offices 51 to 46.
| Metric | Q2 2018 | Q3 2018 | Q4 2018 | Q1 2019 | Q2 2019 | Q3 2019 | Q4 2019 | Q1 2020 |
|---|---|---|---|---|---|---|---|---|
| Total assets | $7.2 bn | $7.4 bn | $7.2 bn | $7.7 bn | $7.9 bn | $7.8 bn | $8.0 bn | $8.4 bn |
| Total deposits | $5.9 bn | $6.2 bn | $6.0 bn | $6.1 bn | $6.2 bn | $6.3 bn | $6.5 bn | $6.7 bn |
| Bank equity capital | $1.0 bn | $1.0 bn | $1.0 bn | $1.0 bn | $1.1 bn | $1.1 bn | $1.1 bn | $1.0 bn |
| CET1 ratio | 11.85% | 11.75% | 11.40% | 11.10% | 11.07% | 11.71% | 11.68% | 11.66% |
| Return on equity (ROE) | 5.53% | 4.90% | 3.00% | 4.16% | 3.72% | 5.23% | 5.80% | -32.24% |
| Uninsured share of domestic deposits | 48.53% | 49.48% | 49.38% | 49.69% | 50.80% | 51.15% | 52.23% | 51.35% |
| Full-time equivalent employees | 804 | 808 | 794 | 760 | 732 | 737 | 735 | 726 |
| Number of offices | 51 | 49 | 47 | 47 | 47 | 47 | 46 | 46 |
FDIC Call Reports.
Mergers and acquisitions
The FDIC history of Opus Bank, oldest first; figures before and after each event are not like for like.
- . Merged into Pacific Premier Bank (FDIC certificate 32172).
Questions and identifiers
What were the total assets of Opus Bank?
Opus Bank reported $8.4 bn at in its Call Report.
Is Opus Bank profitable?
Opus Bank reported net income of -$84.8 mn for the year to ; annualized return on equity: -32.24%. So no: Opus Bank made a loss over these months.
When is data for Opus Bank next updated?
Opus Bank no longer files Call Reports; its data ends at .
Where can I check the figures for Opus Bank?
In the FDIC BankFind Suite record for certificate 33806, and in the Call Reports of Opus Bank (RSSD ID 2047504) at the FFIEC Central Data Repository.