87.4 F
Laguna Hills
Wednesday, Aug 10, 2022
-Advertisement-

Stephen Gordon Raises $57M for new Genesis Bank

Stephen Gordon, who has successfully started two OC-based banks, said he’s raised $57 million for his latest endeavor, Newport Beach-based Genesis Bank.
The oversubscribed capitalization, which the bank called the largest de novo capitalization ever in Orange County, was led by Gordon and Arkview Capital, founded and led by Joon Chang, Pavel Chernyshov, and Vijay Mehta; it’s a minority-certified private equity fund focused on investing in diversity-oriented businesses.
“As the banking industry experiences ongoing consolidation and dislocation, the market serving diverse communities, small to mid-sized businesses, and owners, operators, and investors in income producing multifamily and commercial real estate, continues to grow,” Gordon said in a statement.
Gordon was involved in the founding of two Irvine-based banks that were later acquired, Commercial Capital Bancorp and Opus Bank.
Piper Sandler & Co. acted as an advisor to Genesis Bank while Holland & Knight LLP served as legal counsel and Carpenter & Company served as consultants.

Peter J. Brennan
Peter J. Brennan
Peter J. Brennan has been a journalist for 40 years. He spent a decade in Latin America covering wars, narcotic traffickers, earthquakes, and business. His resume includes 15 years at Bloomberg News where his headlines and articles sometimes moved the market caps of companies he covered by hundreds of millions of dollars. His articles have been published worldwide, including the New York Times and the Washington Post; he's appeared on CNN, CBC, BBC, and Bloomberg TV. He was awarded a Kiplinger Fellowship at The Ohio State University.
-Advertisement-

Featured Articles

-Advertisement-
-Advertisement-

Related Articles

-Advertisement-
-Advertisement-