Regents Bank Merger with California Community Bank Completed
On Friday, November 30th the merger of Regents Bank and California Community Bank (CCB) was completed. With the completion of the merger, Regents adds the former California Community Bank offices, to be re-branded as Regents Bank offices, in Escondido, Encinitas, Miramar, and Vista, California to the existing Regents banking network, which includes banking offices in La Jolla, San Diego, and Carlsbad, California., as well as Vancouver, Washington. The combined banks have total assets of approximately $615 million.
“Welcoming California Community Bank to our team expands our reach across North County, but most importantly, it means a broader range of services for the clients of both banks, as well as greater capital resources for our clients to leverage,” said Steven D. Sefton, President of Regents Bank. “Also, we are pleased that we will continue to benefit from the leadership and skill of Larry Hartwig, former CEO of California Community Bank, who will remain involved with Regents Bank as a member of the Regents Bank Board of Directors. Additionally, Mark Anderson, former Executive Vice President and Operations Manager of California Community Bank, will assume the role of Chief Operations Officer for the combined banks.”
As with any merger of financial institutions, customers have questions and concerns about how the merger will affect them and their existing accounts. On the Regents Bank website, www.regentsbank.com, there is a link to a “Frequently Asked Questions” document which will answer many of the questions existing customers of CCB may have, as well as a complete press release explaining merger details and profiles of both financial institutions, as well as Grandpoint Capital, of which Regents Bank is a wholly owned subsidiary.
Some of the effects of the merger highlighted on that document are:
- All CCB offices will remain open and operating hours will not change. Phone numbers also will not change.
- CCB customer should continue to use their existing checks, continue to access online banking through the California Community Bank website, and make loan payments the same as in the past. Terms of existing loans will not change.
- On February 11, 2013 computer operating systems of Regents Bank and California Community Bank will be consolidated. This will effect some banking services such as automatic deposits and withdrawals, merchant services and online bill payment services, among others. Customers will be advised in advance of these changes and will be given step-by-step guidance concerning any procedural changes that will affect them.
- CCB staff will remain largely unchanged. Existing customers will notice some new faces as new products and services are introduced, but the majority of individuals that have guided and assisted CCB customers in the past will still be there.
Regents Bank and California Community Bank officers and employees would like to emphasize that this will be a smooth transition, that any changes will happen gradually over time and personnel from both banks will be readily available to answer any questions and to help all customers make the transition with minimal disruptions.
Management from both banks firmly believe that this merger will greatly benefit customers of both banks. Said Larry Hartwig, former CEO of California Community Bank, “Our leadership team has had a relationship with the professionals at Regents Bank for many years. Our banks share a customer service philosophy of consultative banking and building strong, personal relationships. This shared commitment to our clients makes this merger a win for our banks and our clients, alike.”
Please contact any Regents or CCB office if you have any questions about this merger. We recommend that you visit the Regents website referenced above where you can learn more about Regents Bank, the merger and how it will affect you as a customer. We believe upon careful examination that you’ll be as excited about the combining of these two very solid banks and the benefits this will be providing you in the future.
Posted on December 1, 2012, in Uncategorized and tagged California Community Bank, Grandpoint Capital, Larry Hartwig, Mark Anderson, Regents Bank, Steve Sefton. Bookmark the permalink. Leave a comment.