– USA, CA – Opus Bank announced today that Opus’ Board of Directors has appointed Norman B. Rice, the President and CEO of The Seattle Foundation and former two-time Mayor of the City of Seattle, to the Opus Bank Board of Directors effective January 1, 2014.

Mr. Rice has had a long and distinguished career serving the Puget Sound region and since 2009 has served as the President and CEO of The Seattle Foundation, one of the nation’s largest community foundations. He is a member of the Brookings Institution’s Advisory Committee for Sustainable Communities, a member of the Board of Trustees of Casey Family Programs, the nation’s largest operating foundation focused entirely on foster care and improving the child welfare system, and serves as Chairman of the Board of Directors for the Northwest African-American Museum.

Stephen H. Gordon, Chairman, CEO & President of Opus Bank, stated, “I am proud to have Norman Rice join Opus Bank’s Board of Directors. Norman has been building relationships and partnerships for the benefit of the citizens of Seattle and the Puget Sound region for over 40 years. He holds a unique balance of knowledge and experience within both the public and private sectors, including banking and finance, civic, and philanthropic executive leadership positions.” Gordon concluded, “We look forward to having the benefit of Norman’s vast experiences and insight as a member of Opus’ board. His background and dedication to improving the economy and increasing opportunities for those living and working in the Puget Sound region are directly aligned with Opus’ acute focus on providing financial products, services, and solutions to those small and mid-sized commercial businesses, entrepreneurs, real estate investors, and professionals with a vision to expand and grow.”

From 2006 to 2009, Mr. Rice was a Distinguished Visiting Practitioner at the Daniel J. Evans School of Public Affairs at the University of Washington, where he directed the Civic Engagement for the 21st Century Project. From 1997 to 2005, Mr. Rice served as a member of the executive team of the Federal Home Loan Bank of Seattle, including serving as its President and CEO. From 1990 to 1997, Mr. Rice served as the Mayor of Seattle and during his tenure revitalized many of the City’s neighborhoods through public-private partnerships. He championed for an improved public school system, breathed new life into Seattle’s downtown with new retail centers, housing and civic buildings, and implemented a model welfare-to-work program. From 1995 to 1996 and while serving as Mayor of Seattle, Mr. Rice served as President of the U. S. Conference of Mayors. Earlier in his career, Mr. Rice served as a Manager within the Corporate Contributions and Social Policy group of Rainier Bank and as Director of Governmental Services for the Puget Sound Regional Council.

Norman B. Rice commented, “Opus Bank’s mission to promote business and economic expansion, and thereby job growth from the bottom up, is on-time and on-target. My intimate knowledge of the Puget Sound region and our communities should help direct capital to business leaders and deserving entrepreneurs, as well as open doors for meaningful new partnerships.” Mr. Rice added, “I look forward to continuing my role as a champion for the Puget Sound region and to serving on the Opus Bank Board, as Opus continues to grow into a dominant relationship-based regional bank.”

Mr. Rice is the recipient of numerous professional and community awards, including the Human Relations Award from the American Jewish Committee, the National Award for Leadership on Behalf of Neighborhoods from the National Neighborhood Coalition, the Isabel Coleman Pierce Award from the King County Chapter of the YWCA, and the Mark F. Cooper Leadership Award from the Washington Council on Crime and Delinquency.

Mr. Rice serves on the boards of the King County Committee to End Homelessness and HistoryLink, and is past chair of the Enterprise Foundation, Fifth Avenue Theatre, YMCA of Greater Seattle, and United Way of King County. He served as a member of the White House Council on Community Solutions. Mr. Rice received both a bachelor’s degree in communications and a master’s degree in public administration from the University of Washington. Mr. Rice also holds honorary doctorate degrees from Cornish College of the Arts, Seattle University, University of Puget Sound, and Whitman College.

About Opus Bank

Opus Bank is an FDIC insured California-chartered commercial bank with $3.5 billion of total assets, $2.6 billion of total loans, and $2.5 billion in total deposits as of September 30, 2013. Opus Bank provides high-value, relationship-based banking products, services, and solutions to its clients comprised of small and mid-sized commercial businesses, entrepreneurs, real estate investors, professionals, and consumers. Opus Bank offers a robust suite of treasury and cash management and depository solutions, and a wide range of loan products, including commercial and industrial, SBA, commercial real estate, multifamily residential, conforming and jumbo single-family residential, and consumer loans; and is an Equal Housing Lender. Opus Bank operates 60 banking offices, including two in the Phoenix metropolitan area of Arizona, 34 banking offices in California, and 24 in the Seattle/Puget Sound region in Washington.

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