Opus Bank (OPB) Misses Q1 EPS by 7c
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Opus Bank Announces First Quarter 2016 Results
April 25, 2016 7:00 AM EDTIRVINE, Calif.--(BUSINESS WIRE)-- Opus Bank ("Opus") (NASDAQ: OPB) announced today net income of $17.3 million, or $0.51 per diluted share, for the first quarter of 2016 compared to $16.7 million, or $0.50 per diluted share, for the fourth quarter of 2015 and $11.1 million, or $0.34 per diluted share, for the first quarter of 2015. Net income in the first quarter included $1.2 million of merger and strategic initiative related expenses, including costs associated with the acquisition of PENSCO Services, LLC and its wholly-owned subsidiary PENSCO Trust Company ("PENSCO"), which closed on April 13, 2016, as well as severance associated with our expense reduction and... More
