Opus Bank reported impairment charges for the first quarter ended March 31, 2020. The company reported net loss during the first quarter of 2020 included a $96.229 million non-cash impairment charge to write off a portion of the balance of goodwill. Based upon the results of the company's analysis, an impairment charge of $96.2 million was recognized during the first quarter of 2020, driven predominantly by the negative impact of COVID-19 on stock market valuations and the price of common stock, which adversely impacted the valuation of goodwill as of March 31, 2020.