IRVINE, CA-Opus Bank has formed a new corporate-finance division and private-equity group as a further expansion of its merchant bank. The corporate-finance division will be led by industry veteran Rick Lamoreux, and the private-equity group will be headed by Dale Cheney, who just recently joined Opus after a 13-year investment-banking and private-equity career. Both executives are senior managing directors for the firm.

According to Stephen H. Gordon, chairman, CEO and president of Opus Bank, "Over the past several years, banks have backed away from providing capital funding to entrepreneurs, small and mid-sized businesses, and middle-market companies, including those individuals and entities acquiring companies, thereby creating  void where successful and resilient entrepreneurs and businesses are left with few options. These clients are not well served by the larger investment-banking firms, and most of the banking industry lacks this entrepreneurial expertise."

Gordon adds that Opus sees this lack by the banking industry at large as an opportunity. "With the formation of the corporate-finance division and the private-equity group, we are addressing this void by providing both debt and equity capital funding through a company's life cycle to those entrepreneurs and business owners who have a vision to expand and grow their companies."

The corporate-finance division will focus on providing senior debt to lower-middle-market companies for mergers, acquisitions, balance-sheet restructurings, recapitalizations, leveraged buy-outs and growth capital. Working with Lamoreux, Bob Hanger, director, client manager for the commercial business banking division, has been named managing director of the new division.

The private-equity group will focus on raising capital through the private placement of equity for Opus' clients in the healthcare, technology, commercial real estate, consumer and food-and-beverage sectors, as well as other businesses served by Opus' commercial business banking division.

Regarding the new executive appointments, Gordon says, "Rick Lamoreux's many years of commercial banking experience, both at Opus and other financial institutions, focused heavily on providing debt financing for sponsor-backed M&A-type transactions, will bode well for the anticipated growth of Opus' corporate-finance division and its clients. We are excited to welcome Dale Cheney as he joins Opus Bank to drive the success of Opus' private-equity group. He has tremendous depth and breadth of experience and a consistent track record of success working with and within private-equity firms, investment banks and acquisitive middle-market companies."

As GlobeSt.com reported in July 2013, Opus has formed a commercial real estate banking division, composed of its leading income property banking division and its recently formed structured-finance division. Dan Borland, who has served as president of IPB since Opus's inception, has been promoted to president of CREB and will also lead the structured-finance division. Ed Padilla, who has served as SVP, senior credit administrator of IPB since 2011, has been promoted to lead the bank's IPB division, reporting to Borland.

GlobeSt.com was unable to reach Opus Bank prior to deadline to discuss with Lamoreux and Cheney their new responsibilities, the new divisions and how they fit into the larger commercial real estate picture. We will update this story as new information becomes available.