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Opus Bank reports Q1 EPS 28c, consensus 29c.

Reports Q1 book value per share $28.17. Reports Q1 CET1 capital ratio 11.1%. Reports Q1 net charge-offs (0.12%). Paul Greig, Chairman, Interim CEO and President of Opus Bank, stated, "Our solid core earnings performance during the first quarter of 2019 included higher net interest income, expanding net interest margin, and further improvements in credit quality. Strong quarterly loan growth was driven by high origination volume of multifamily loans, as well as unusually low prepayments during the first quarter. While we were successful in increasing our real estate lending during the quarter, our focus on disciplined underwriting has not changed. All of Opus' team members are to be commended for the contributions to our first quarter performance."

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Publication:The Fly
Article Type:Financial report
Date:Apr 29, 2019
Words:119
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