Opus Bank to buy Pensco Trust
Opus Bank said Monday it agreed to buy Pensco Trust Company from Pensco Services LLC. Terms of the deal call for Pensco shareholders to receive 1,698,529 shares of Opus Bank common stock and $47.25 million in cash. San Francisco-based Pensco Trust is a custodian of self-directed IRA and alternative investments with nearly $11 billion of custodial assets. Credit Suisse Securities (USA) LLC and Sandler O'Neill + Partners LP advised Opus Bank while Holland & Knight LLP was their attorney. Financial Technology Partners LP and FTP Securities LLC advised Pensco while Goodwin Procter LLP provided legal advice.
25 January 2016•6 mins read
