Regents Releases Q4 Results
In a press release on January 9, 2012 Regents Bank reported net income of $439,000 for the quarter ended Dec.31, 2011, and $1.7 million for fiscal year 2011. The release credited the bank’s solid financial performance by “a strong capital position, ample liquidity and improved asset quality.” Profitability in 2011 eclipsed that of 2010.
Regents President and CEO Dan Yates stated, “This past year, we put our effort into strengthening our balance sheet and making sure we have the liquidity and capital resources to weather a lukewarm economy and support the needs of our clients, who count on us to help their businesses grow and prosper,” said Yates. “We are in an excellent position to lend to qualified borrowers and to continue delivering the consultative service Regents pioneered.”
On January 24th Regents was officially acquired by Grandpoint Capital, which further strengthens Regents Bank’s position as a leading San Diego business bank. “Our new holding company, Grandpoint Capital, brings additional capital resources and product expertise that has enabled us to raise our lending limits and offer new product specialties,” added Yates, who also serves as President of Grandpoint Capital.
Several weeks ago Grandpoint Capital announced a definitive agreement to acquire Escondido‐based California Community Bank. That transaction is expected be completed in the third quarter of 2012, and Cal Community’s four San Diego County banking offices will be merged into Regents Bank. Yates noted, “Bringing Cal Community’s banking team and well‐placed branches into Regents will make quality business banking more accessible to San Diego County businesses and extend our reach to new prospects.”
Regents Bank has offices located in La Jolla, Carlsbad, San Diego and El Cajon, CA, as well as an office in Vancouver, WA. Regents offers a full line of banking products for businesses. Recognizing that no two businesses are alike, Regents utilizes a consultative approach with each client company to develop a custom plan and use financial instruments as a means to help each client grow their revenues.