Opus Bank Announces Fourth Quarter and Full Year 2019 Financial Results

IRVINE, Calif.--(BUSINESS WIRE)--Opus Bank ("Opus") (Nasdaq: OPB) announced today net income of $20.3 million, or $0.53 per diluted share, for the fourth quarter of 2019, compared to net income of $22.0 million, or $0.57 per diluted share, for the third quarter of 2019. Net income for the year ended December 31, 2019 was $61.8 million, or $1.62 per diluted share, compared to net income of $30.9 million, or $0.81 per diluted share, for the year ended December 31, 2018. Net income during the fourth quarter of 2019 included a negative provision for loan losses of $2.7 million, compared to a negative provision for loan losses of $7.7 million in the prior quarter. Net income during the fourth quarter of 2019 also included a pre-tax gain of $851,000 on the sale of a bank operations building, which positively impacted earnings by $0.02 per diluted share.