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HomeStreet Bank buying branch from Opus Bank

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HomeStreet Bank buying branch from Opus Bank

Seattle-based HomeStreet Bank, a unit of HomeStreet Inc., is acquiring Irvine, Calif.-based Opus Bank's branch in El Cajon, Calif., including approximately $28 million in deposits held at the branch, according to a June 12 news release.

The branch deal will increase HomeStreet Bank's retail deposit branches to four in San Diego County and 16 in Southern California. The branch will operate under the Opus Bank brand until deal completion, after which it will become part of HomeStreet Bank.

As of March 31, HomeStreet Bank had assets of $6.36 billion, while Opus Bank had assets of $7.98 billion.