Monday, July 25, 2016 4:26:36 PM
ROFL - they are now getting out of tech banking. I told you they were idiots:
"The quarter was also marked by elevated provision for potential loan losses associated with Opus’ Technology Banking division loans, as well as provisions required due to our record second-quarter new loan fundings and continued success shifting the mix of our loan portfolio more heavily toward C&I loans.” Gordon concluded, “Given the recent volatility in the Tech markets, this quarter's resultant low risk-adjusted returns experienced in our Tech lending division, and that Opus’ second quarter earnings were masked in part by provisions due to downgrade-related movements in this portfolio, we’ve determined here at the start of the current third quarter to deemphasize our Technology Banking niche lending focus for the foreseeable future, and thereby unleash Opus’ true earnings potential."
Donk?
________________________________________________________
Caller: But why did you back away from your prior guidance?
Eric Kelly: I am sorry? Hello?
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