Stephen H. Gordon, a long-time Orange County banker who founded Opus Bank, announced he has won regulatory approval for Genesis Bank.
The Federal Deposit Insurance Corporation on Jan. 29 and the California Department of Financial Protection and Innovation on Nov. 4 have both approved the bank, subject to conditions relating to the establishment of de novo banks, he said in a statement. The application to form Genesis Bank was filed last June 5, a few days after Irvine-based Pacific Premier Bancorp Inc. (Nasdaq: PPBI) acquired cross-town rival Opus Bank.
Gordon also announced his founding executive team, each of whom worked with him previously at Opus Bank: Jennifer Simmons, president and chief operating officer, Brian Fitzmaurice, senior chief credit officer, William Han, chief financial officer and Andres Gallardo, chief legal and risk officer.
“Each member of our team brings unique, highly relevant, and extensive skills and experience necessary in their respective roles and responsibilities in creating and building this new bank,” Gordon said. “We have the benefit of having worked extensively together as a team in the past.”