Category Archives: Consultative Banking

Stephen Friedman Discusses Consultative Banking, Bagels and Basketball on Buddy’s Financial Fitness Hour

Stephen Friedman headshot NEW

In case you were not able to tune into Buddy’s Financial Fitness Hourscreen-shot-2016-09-13-at-11-07-51-am on 1700AM ESPN on June 14, we wanted to provide you with a brief video clip as well as the complete podcast of our very own Executive Vice President Stephen Friedman’s appearance on the radio show.

You don’t want to miss Stephen’s tips about applying for a loan, and you can even hear about his entrepreneurial roots in bagels and bakeries.

On the podcast, Stephen is featured for the first 30 minutes as well as the last 12 minutes. He discusses the importance of being a trusted advisor as a business owner’s banker and covers some of the basics of choosing the right form of credit. He also details the benefits of keeping your banker regularly apprised about your business and reveals “the most important thing” for growing businesses. (Spoiler Alert: it’s having continuous access to credit.)

The rest of the broadcast, which features Jim Tenuto, CEO of Renaissance Executive Forums, has some useful business information, too. But it’s not all business. Since ESPN is known as a sports network, the participants talked about basketball, too!

Video: https://www.youtube.com/watch?v=ftIlcdSXQpwscreen-shot-2016-09-13-at-11-07-51-am

Podcast: http://www.realtalksandiego.com/podcastsscreen-shot-2016-09-13-at-11-07-51-am (scroll down to Real Talk San Diego – Stephen Friedman and Jim Tenuto 6-14-16)

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This icon appears next to every link that directs to a third party website not affiliated with Regents Bank. Please be advised that if you click this link you will be taken to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Regents Bank. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Regents Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites.

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Regents Bank President Steve Sefton: Five Reasons You Should Be Using a Community Bank

Steve Sefton, President of Regents Bank

Steve Sefton, President of Regents Bank

Featured in a recent interview in SD Metroscreen-shot-2016-09-13-at-11-07-51-am Magazine’s July Banking Feature, Regents Bank President Steve Sefton touched on a number of advantages that local businesses enjoy by working with a local community bank instead of a national “big bank”.

Here are five take-aways from the interview that businesses should consider when making a decision to start a new banking relationship:

1.) A community bank’s mission is to invest in its community. Regents Bank and its employees not only assist many local businesses with their financial needs, but they are also very involved in making their community a better place to live and work.

2.) The personalization of banking services and relationships is much more likely to be found at a community bank. At Regents Bank it’s called “Consultative Banking”, and it’s centered not on pushing a product or service at a client, but first creating a relationship with a sincere interest in learning what the business owner’s short and long-term business goals and objectives are.

3.) The local community banker should hold a position on a business owner’s “advisory council” because of the banker’s ability to customize advice based on the knowledge they have because of the personal relationship they’ve developed with the business owner. Regents Bank’s professional staff certainly has the ability to be reactive when a client hits a “bump in the road”. But more important, our bankers are proactive and take the initiative to provide sound business advice which often helps our clients avoid those bumps.

4.) Relationships are more important than a lower interest rate. There will always be a bank dangling a lower interest rate, but is that more important than a close working relationship with a local banker? Not to mention community banks are much more efficient time-wise when processing business loan requests.

5.) Check your bank’s financial health regularly. Require your bank, whether it be a community bank or a “big bank”, to provide you with a “report card” every quarter so you aren’t caught off-guard if a financial problem with the bank arises.

Regents Bank has offices in San Diego, La Jolla, Carlsbad and El Cajon, CA as well as an office in Vancouver, WA.

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screen-shot-2016-09-13-at-11-07-51-am Linking to Non-Regents Bank Websites

This icon appears next to every link that directs to a third party website not affiliated with Regents Bank. Please be advised that if you click this link you will be taken to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Regents Bank. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Regents Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites.

 

 

Sometimes It’s The Little Things That Make The Biggest Difference

As business owners and managers we tend to look for the complex solution to the day-to-day challenges we face. Sometimes the simple solution is all we need; sometimes it just takes someone to lead us in the right direction.

At Regents Bank we continually talk about our consultative approach to banking and that developing personal relationships with our clients is our goal. One of our advisers recently shared with our CEO Dan Yates how an easy solution delivered by the adviser helped a client solve a critical problem for his business. Here is the note that adviser sent to Mr. Yates:

Dan,

It is the little things that you do as a leader that sometimes have the most impact.  A while back you recommended we read “Delivering Happiness” by Tony Hsieh. I did.  Then, you accompanied me on the prospect call to (a local company) and we met with David C.  I had breakfast with him the following week and we continued to develop our relationship.  We learned that our corporate cultures of helping others were congruent and I’m pleased to say that David is now a happy Regents Bank client.

David chose Regents because in our early meetings, as we got to know each other, he shared that his primary business challenge was employee turnover for a certain job class in his company. I asked him if he had developed a “culture” yet.  He said he had thought of it but needed to apply more effort. I bought him “Delivering Happiness” by Tony Hsieh. He read that, followed it up with two other culture books that Tony Hsieh recommends, then he took the “culture” issue to his Vistagescreen-shot-2016-09-13-at-11-07-51-am group and they helped him process it and create a value statement that would have a real and lasting impact for his company.

At our meeting today he was so proud of their new company value statement that he had it printed and ready for me to see.  He was also very proud to share it at the all-employee meeting they had held the day before to launch their new company values.  He now uses the new culture/value strategy when hiring and when working out company problems.  He literally said he owed it all to me and Regents Bank. Is that consultative banking or what!!  This issue has NOTHING to do with bank products and services! I’m proud to be with Regents Bank and developing long-term relationships with my clients and that I can truly help them build their businesses and their dreams.

Regents Bank San Diego Banker

For more information on Regents Bank Consultative Banking visit www.regentsbank.com

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screen-shot-2016-09-13-at-11-07-51-am Linking to Non-Regents Bank Websites

This icon appears next to every link that directs to a third party website not affiliated with Regents Bank. Please be advised that if you click this link you will be taken to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Regents Bank. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Regents Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites.

Consultative Banking to Evaluate Using Lines of Credit Lends Itself To Better Business Decisions

“Fast money makes fast friends.” A rather old cliche but one that still has a ring of truth about it.

Many businesses feel that the worst of the economic storm has passed. That is still yet to be determined. But this returning sense of security is leading many businesses to ask their bank for new or increased lines of credit for many reasons, ranging from adding additional inventory to improving their facilities. The reasons vary, but after having had to “tighten their belts” for 4-5 years many companies are feeling the need to start spending again. This is good for the economy in general, but increasing spending via a line of credit (borrowed money) may or may not be in your best interest right now.

Many banks sole criteria for determining if a business or its management qualifies for a line of credit is strictly by credit score. There are very few businesses with a lengthy history of extending credit to their own customers that won’t tell you that this is a very narrow, and often times very risky, means of determining if a company truly has the means to repay money borrowed from an extended line of credit. There can be many mitigating factors that undermine companies with impeccable credit scores from making timely payments on secured or unsecured loans.

At Regents Bank we take a different approach to extending lines of credit to our clients or those companies that approach us pledging to become clients if credit is extended. Certainly we look at credit scores, financial documentation and cash flow projections to determine if a line of credit is a safe investment for the bank. But what separates Regents from most other banks is the time we take to really understand what a business is trying to accomplish with the additional funding and how it fits into their overall business plan. We call it “Consultative Banking” and it plays a large part of what makes Regents Bank a partner, not just a lender.

A line of credit may be just what your company needs right now. Or perhaps there is a better, more cost effective means for you to accomplish your goal without using additional credit or borrowed funds. There’s only one way to tell; talk with an experienced Regents banker that will provide you with alternatives based strictly on your situation.  At Regents Bank we are in the business of helping companies grow and prosper, and that can often times be accomplished via means other than lines of credit or borrowed funds.

We have branches conveniently located near you in La Jolla, San Diego, Carlsbad and El Cajon, CA, as well as a branch office in Vancouver, WA. You can learn more about Regents Bank and how we do business at https://www.regentsbank.com/#/business-business-advisory. Before you sign on the dotted line and borrow money from a bank that is eager to give without understanding what your situation is, take the time to consult with Regents Bank. You’ll find a team of highly qualified bankers that will take the time to recommend what’s in your best interests, not ours.

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Kennedy and Souza Appreciate Regents Bank Efforts

Kennedy and Souza is a prestigious San Diego law firm with partners totaling over 75 years of legal experience. Partner Kevin Kennedy sat recently and discussed both his firm and how Regents Bank has benefited them over the years.

Visit with a Regents banker and discover how you and your company can benefit from the Regents Bank “Consultative Banking” approach. We’re more that just a bank, we’re people that are committed to your success.

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Regents Bank Recognized as “A Most Trusted Brand”

On Thursday, April 26th San Diego Metropolitan Magazine recognized Regents Bank as “One of San Diego’s Most Trusted Brands”.  It was noted that Regents was a constant during the unsettling financial times the past few years, whether it meant continuing to provide loans to our small – medium sized business client base while other banks were not, or by continuing to be there for our clients and offering our “consultative banking” approach, enabling us to offer them custom solutions and act not just as bankers but as partners.

“Here Today and Here Tomorrow” reflects the strength not only of our brand, but our commitment to be there for our clients in all of the different economies and challenges they may face.

The complete San Diego Metro article can be accessed here.screen-shot-2016-09-13-at-11-07-51-am We appreciate their recognition.

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screen-shot-2016-09-13-at-11-07-51-am Linking to Non-Regents Bank Websites

This icon appears next to every link that directs to a third party website not affiliated with Regents Bank. Please be advised that if you click this link you will be taken to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Regents Bank. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Regents Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites.

Regents Bank Provides Valuable Education for Clients With It’s Consultative Banking Approach

Regents Bank provides ongoing educational events as part of its consultative approach to working with clients,  The most recent event occurred this past Tuesday, March 20th.  Regents co-sponsored an educational event for local San Diego business leaders which was held at The Prado in Balboa Park, San Diego, CA. Renaissance Executive Forums was the event organizer, as well as Stephen Friedman, Senior Vice President of Regents Bank’s Carlsbad office playing a key role in the organization and success of the forum. .

Renaissance Executive Forumsscreen-shot-2016-09-13-at-11-07-51-am is a CEO peer group organization based in La Jolla, CA.  This most recent forum is their signature annual event that has been running for the past five years. Regents Bank has  co-sponsored the last three. More than  125 attendees comprised of business leaders in San Diego, mostly owners of successful companies in San Diego, were in attendance and gained excellent insights from the two keynote speakers, Walter Green and Chip Conley.

Walter spent an entire year of his life personally meeting with over 40 people that he felt had a meaningful impact on his life and then communicating that message to them. He felt that waiting until someone died and then saying all those things in a eulogy would leave him feeling deep regret at not sharing those thoughts when they were alive.  He found that the recipients of his gratitude often had no idea as to the effect that they had on someone else’s life and were so grateful that Walter had shared his gratitude with them. Walter encouraged attendees to spread the gratitude in their own lives and assured us that the rewards were immeasurable.

Chip Conley has been coined as the traffic officer on the intersection between business and psychology.  He discussed the key postulates in his new book, “Emotional Equations”, which breaks down a path to happiness into 16 simple word based, mathematical formulas.  Some examples included:

Happiness = Practicing Gratitude / Pursuing Gratification

Despair = Suffering – Meaning

Disappointment = Expectations – Reality

Chip uses these formulas as constant, simple reminders as to where to place his own priorities in business and personally.

Future events sponsored by Regents Bank’s Carlsbad office can be found on our website at https://www.regentsbank.com/#/events. For further information on Renaissance Executive Forums or Regents Bank’s consultative banking approach contact Stephen Friedman at 760-931-5141

screen-shot-2016-09-28-at-7-28-21-pm________________________________________________________________________________________________________________________________

screen-shot-2016-09-13-at-11-07-51-am Linking to Non-Regents Bank Websites

This icon appears next to every link that directs to a third party website not affiliated with Regents Bank. Please be advised that if you click this link you will be taken to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Regents Bank. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Regents Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites.

3 Reasons Why Regents Bank is the Premier Business Bank in San Diego and Vancouver, WA

Regents Bank Builiding La Jolla

Regents Bank Building La Jolla

Regents Bank is the premier business bank in San Diego and Vancouver, WA. That is a core belief of our institution, our employees and our customers. Our customers have many choices of where to bank, just take a look at any corner and you’ll see a bank building. Why choose Regents? We believe there are three very good reasons to choose us as your business bank:

Our people. You’re building a business, we’re building a business. You’re an entrepreneur with a dream, so are we. Your office is based in the community and you’re raising your family here, so are we. When you talk with a Regents banker we are not going to start our relationship off by trying to get you to open a business checking account or sell you any other of our financial products or business services. Yes, we want you to use us as your financial lender or provider of business banking services, but not until we understand what your business goals are, your time frame, your risk tolerance…not until we get to know you. Our people aren’t looking to peddle a product; our people want to do what’s best for you and develop a long term partnership. We call it “Consultative Banking”, and it’s the cornerstone of what makes Regents Bank great.

Our customers. We keep our customers because we treat them with the same interest and respect as the day we met them. We’re in our 11th year and the vast majority of our initial clients are still happy, loyal Regents Bank clients. Sure, we’ve lost some along the way that left us because they could get a loan for quarter of a percent less, but not many. Why? Because business owners know that finding a bank that puts the customer first is a rarity. Regents Bank is that rare bank that always, and we mean always, puts the customer first. A good businessperson doesn’t begrudge a great provider of services a fair profit; that’s why we lose very few clients over a percentage point or some other miniscule product difference a competitor is offering in order to take away one of our clients. Our clients appreciate us, and they know we appreciate them by the attention to detail we provide and the time we’ve invested getting to know them.

Our vision. Regents Bank is a very successful, financially solid bank. But we’ve made two very important decisions in the past 120 days that will provide increased benefits for our clients. First, we were acquired by Grandpoint Capital. This alliance provides our business banking clients with greater access to capital for the purpose of growing their businesses. Grandpoint loved our business model and how Regents treated our customers. That’s why we retained our name. Grandpoint also acquired California Community Bank in San Diego and that merger is expected to be finalized in the 3rd quarter of 2012. The California Community Bank offices will be renamed as Regents Bank offices, which will in turn offer our customers even more options of locations when they need to visit a Regents Bank San Diego office.

These are three great reasons to do your business banking with Regents. When is the last time a banker sat face-to-face with you and really listened to what your business goals are? Can your banker tell you what your sales objectives are for 2012? Don’t you think they should know that? Your Regents banker will know because they’ll ask. Because they care. Call us today and find out why our customers don’t leave us and what makes us a true community bank. The more you know us the more you’ll see why we’re the best choice to be your business bank.

Regents Bank has offices in San Diego, La Jolla, Carlsbad and El Cajon, CA. We also are proud to have a branch office in the beautiful community of Vancouver, WA.

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Going Above and Beyond

Dan Yates, Regents Bank San Diego President and CEO

Dan Yates, Regents Bank San Diego President and CEO

Contributed by Dan Yates, President and CEO of Regents Bank

In a recent blog post titled “Do People Really Know What Your Company Does”  we included “financial solutions” as a component of consultative banking. While it is certainly an important element, Regents Bank consultative banking services take it a step further.

Here are some examples of what we do to help our clients grow their top and bottom lines:

We seek out opportunities to introduce our clients to prospective customers.  These introductions potentially help a client build revenues by establishing a new business relationship. At Regents we have a very large database of key contacts and we are motivated to help our clients by connecting them to people in our network that can help them.

Following this theme, we also connect clients to potential vendors that might be able to help reduce their operating costs. This provides our client with a positive financial impact, as well as again connecting two companies that can establish a commerce based and/or networking relationship.

Sometimes we see a strategic need that can be filled by a key introduction to another professional advisor that operates in a specialty niche. For example, it could be an expert that handles setting incentive compensation plans such as an employee phantom stock option plans or it may be an attorney specializing in estate planning, or perhaps it’s a private wealth manager that helps with investing a business owner’s stocks and bonds….the list is endless.

My point is we listen, we learn, we identify needs, and then we strive to connect our clients with a wide array of professionals that we know have the expertise to help them.  Our commitment to our clients is not limited to mere financial products.  Our goal is to provide them with the finest business advice ad solutions coupled with world class customer service.  We have built a successful banking business by focusing our efforts on helping our client’s businesses thrive. At a time when mega banks try to buy new business relationships with below market interest rates on loan products, we continue to invest in our clients’ success by offering advice, introductions, solutions, etc., to help solve key business issues, concerns, needs or opportunities that business owners need assistance with.

Regents Bank has offices in La Jolla, downtown San Diego, Carlsbad and El Cajon, CA and in Vancouver, WA. For more information visit our website at www.regentsbank.com.

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What Does All of This Economic Data Mean For Your Business?

Man With Question Marks

Headline from the San Diego Union Tribunescreen-shot-2016-09-13-at-11-07-51-am this weekend: “Economy Gains Steam, Adds 200,000 Jobs”.

In an article released last Friday from Vistage titled “More Hiring, More Investing, Better Economy: Vistage CEO Confidence Index”screen-shot-2016-09-13-at-11-07-51-am some of the numbers cited were:

  • The CEO confidence index reported its largest quarterly gain in two years, a remarkable 18 percent increase.
  • “Net increases in employment were planned by 55 percent of all firms,” the report states. That’s the “highest percent that planned job additions since 2007”.
  • Seventy-three percent of all firms expect revenue growth, up from only 62 percent in the prior quarter. That rate is “much closer to the year-ago level of 77 percent.
  • Improved economic conditions were cited by 41% in the 4th quarter, up from just 18% in the 3rd quarter. Just 12% thought the economy had recently worsened. When asked about prospects for the year ahead, additional economic gains were expected by 40%, twice the 20% recorded in the 3rd quarter.

And these are just a portion of the numbers given.

Pick up the Sunday Wall Street Journalscreen-shot-2016-09-13-at-11-07-51-am and you’ll find numbers and statistics galore. The numbers reflecting the economy are positive, and this could bode well for small-medium size businesses this year. But how do you, running your business which has its own micro-economy and financial statistics, know what the short and long-term impact of all this data means to you?

We won’t claim that we can tell the future. We won’t predict what interest rates will be next month. We won’t guess when Federal Reserve policy changes will happen which will free up more credit for businesses to expand. But what we will do, what we do best, is consult with you about all of this data and develop strategies for you and your business. Talk today with a Regents Banker and ask for an interpretation of all of this data and ask what the real world impact it has on your business. You’ll get straight answers and honest advice. It’s how we’ve built our business the last 10 years, and it’s why we’ve become the trusted advisor that so many San Diego businesses turn to.

Regents Bank has offices in La Jolla, Downtown San Diego, El Cajon, Carlsbad and Vancouver, WA. Learn more about Regents Bank at www.regentsbank.com.

screen-shot-2016-09-28-at-7-28-21-pm________________________________________________________________________________________________________________________________

screen-shot-2016-09-13-at-11-07-51-am Linking to Non-Regents Bank Websites

This icon appears next to every link that directs to a third party website not affiliated with Regents Bank. Please be advised that if you click this link you will be taken to a website hosted by another party, where you will no longer be subject to, or under the protection of, the privacy and security policies of Regents Bank. We recommend that you review and evaluate the privacy and security policies of the site that you are entering. Regents Bank assumes no liability for the content, information, security, policies or transactions provided by these other sites.