Blog Archives

Our Regional President, Stephen Friedman, Profiled by San Diego Business Journal

Stephen Friedman headshot NEWRecently, San Diego Business Journal ran a story profiling our regional president, Stephen Friedman. If you have a subscription to the publication, you can access the article in the September 1, 2017 issue.

Stephen spoke about Regents Bank’s philosophy of creating value at a deeper level for our clients and about how his personal experience as a C-suite executive at food companies provided valuable insight that he leverages in his banking career.

While many of our readers know Stephen as our regional president and before that as executive vice president and regional manager of our La Jolla office, he has also been an entrepreneur and a corporate CFO.

Stephen’s banking career included a hiatus, during which time he took on roles in C-suite management of some food companies and even owned a bakery business. Those experiences gave him the feet-on-the-ground knowledge he relies on to understand the business challenges and opportunities our clients face.

In his role now as regional president, he manages operations at all four of our San Diego offices in La Jolla, downtown, Vista and Escondido. We are fortunate to have Stephen and others like him on our staff — banking professionals who understand all stages of business growth and capital raising and apply that knowledge to help our clients.

If you’d like to learn more about Stephen and Regents Bank’s philosophy, we encourage you to read the great San Diego Business Journal profile story by reporter Sarah DeCrescenzo … or to connect with Stephen in person.

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Stephen Friedman Named Regents Bank Regional President in San Diego County

Stephen Friedman headshot NEWIt’s official! Longtime San Diego banker and business executive Stephen Friedman has been promoted to Regional President in San Diego County. Stephen will oversee operations at our four San Diego offices, which include locations in downtown, La Jolla, Escondido and Vista. Stephen, who has been with Regents Bank since 2009, will continue to work from the La Jolla office.

“I am delighted to have the opportunity to lead the charge for Regents Bank in San Diego going forward,” says Stephen. “Having been part of the leadership team here for many years, Regents Bank’s brand of what we call consultative banking is in my DNA. We have a seasoned team that is focused on providing customized banking solutions crafted to meet each client’s unique circumstances, but we don’t stop there. We seek to understand our client’s short- and long-term goals so that we can direct them to relevant resources to help them. My primary objective is to provide the leadership and support our team needs to execute on our mission of serving our clients at the highest level every day.”

As the former CFO of Bruegger’s Bagels – the national bagel chain, the former CFO of the Westwind Group – a large Burger King franchisee, and the former owner of a local commercial bakery, Stephen thinks entrepreneurially.

“Stephen combines his 20 years of banking experience with his past business experience to provide a unique level of business understanding not normally found in a banker,” said Rocky Laverty, President of Grandpoint Bank. “He has demonstrated leadership and success in consistently growing Regents Bank, primarily due to his ability to deliver valuable services and advice to Regents’ clients.”

Stephen is a resident of Carmel Valley and has been an active member of ProVisors, the Association for Corporate Growth of San Diego, the Rancho Bernardo Professional Group, Renaissance Executive Forums, the Business Executives Council and Chairman’s Roundtable. He earned a bachelor of arts degree from the University of Vermont, followed by a master’s degree in business administration from Boston College and a graduate banking degree from University of Colorado at Boulder.

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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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Not-So-Secret Secrets About Securing Business Bank Loans and Credit

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Go behind the scenes of the loan decision making process with our President and CEO Steve Sefton and our Senior Vice President Stephen Friedman as they join Wade Taylor at WS Radio’s Wealth Building Hour. Steve and Stephen share with listeners their honest advice and insight about how business owners can get loans and lines of credit from their bank. The first segment of the half hour has valuable information about why banks have to be right 100% of the time when it comes to their loan and credit decisions, and what kind of loan applicants will appeal to a bank. Click herescreen-shot-2016-09-13-at-11-07-51-am to listen.

Don’t miss the second segment of the show if you want to know what Robert Plant and Kobe Bryant have to do with loan risk ratings and why the acronym EBIDA could make or break your loan or credit application. Click herescreen-shot-2016-09-13-at-11-07-51-am to listen.

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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.

Stephen Friedman Offers Business Expansion Tips to Professionals at ProVisors Program

Stephen Friedman, Senior Vice President

Stephen Friedman, Senior Vice President

Are you planning to grow your business? According to a surveyscreen-shot-2016-09-13-at-11-07-51-am of US CEOs, 62 percent plan on hiring more people this year, so you are in good company.  Growth can often mean a need for additional funding, and banks are where many business owners go to get what they need.

Regents Bank’s Senior Vice President Stephen Friedman’s recent presentation at a ProVisors educational program geared toward professionals in the distribution and manufacturing sectors offered some great tips for all business owners who are looking to expand.

Tips for everyone:

  • Prepare! When seeking funding to support your growing business, do the following before you submit for the loan:
    • Know your business inside and out and have a roadmap of where your business is going – financially and strategically.
    • Put together a clean loan application package. Make sure your financial statements, including your balance sheet, are detailed and include resumes of your principals. As Stephen says, “You don’t want to present your banker with financials that look like a smile with missing teeth.”
    • Know what you want and express your vision to your banker before you apply for a loan or line of credit. Make sure you have a relationship with your bank in which you can openly discuss your strategic plan and seek advice from your banker about how to get there.
  • Lending options
    • Banks, large and small, will likely offer the most affordable loan terms. Note that community-focused banks are more likely than big banks to use people rather than just computers and formulas to make loan decisions.
    • Commercial finance companies lend against receivables rather than business and cash flow, but loans from these companies cost more.
    • Purchase order financing, mezzanine financing and private lenders are less stringent with their requirements, but the interest cost is the highest of all three lending options.

Tips for distributors/manufacturers:

  • Make sure you can explain your cash conversion cycle. With an inventory-based company, the time from ordering/creating the inventory to collecting on it could be a long window.  An experienced banker can work with you to help you analyze how different sales growth scenarios will affect your business’s cash needs.
  • If you sell your product internationally, domestic banks won’t necessarily lend against foreign receivables unless you have insurance to protect those receivables. Both private and government agencies offer such insurance options.
  • If more than 25% of your product sales are to just one client, this can limit the amount of bank financing available. Have a conversation with your banker as to how to tackle that piece of your financing needs.

Your banker can be a valuable resource when you’re looking to expand your business. Don’t be afraid to tap their expertise and put them to work for you and your business.

Stephen Friedman can be reached at sfriedman@regentsbank.com or at our La Jolla office.

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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.

Stephen Friedman named a 2014 Metro Mover by San Diego Metro Magazine

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Stephen and his wife, Rachel Maurais, attended the 2014 SD METRO MOVERS reception on February 25th at Donovan’s La Jolla.

We are proud to announce that Regents Bank’s Senior Vice President and Regional Manager Stephen Friedman has been named a 2014 Metro Moverscreen-shot-2016-09-13-at-11-07-51-am by San Diego Metro Magazine.screen-shot-2016-09-13-at-11-07-51-am This award recognizes men and women throughout San Diego who have made outstanding contributions to their professions and who are poised to add to their achievements in 2014.

Stephen stands out for exemplifying Regents Bank’s unique advisory approach to banking: taking extra time to counsel clients about business strategy. He has helped countless local businesses increase revenues, hire more San Diegans and give back to our community.

SD Metro calls out Stephen’s entrepreneurial approach, acknowledging that his past executive experience had him making payroll as a small business owner and managing the finances of two companies as CFO. As such, he is uniquely qualified to help his banking clients consider strategy affecting all aspects of their businesses, not just the financial ones.

Stephen is involved with the Rancho Bernardo Rotary Clubscreen-shot-2016-09-13-at-11-07-51-am to support returning service members who have been deployed overseas and Photo Charity,screen-shot-2016-09-13-at-11-07-51-am to support homeless youth in San Diego. Stephen can be reached at our La Jolla office.

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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.

Regents Bank Co-Sponsors San Diego Social Venture Partners “Advance! San Diego 2012″ Competition”

 

Accion San Diego

Accion San Diego

Regents Bank recently co-sponsored the San Diego Social Venture Partnersscreen-shot-2016-09-13-at-11-07-51-am (SDSVP) “Advance San Diego 2012” event. According to the SDSVP website, “Advance! San Diego provides non-profit organizations with the opportunity to hone their presentation skills, promote their impact to a large audience of funders and peers, and receive immediate cash awards as well as ongoing business consultation for our Partners.”

Elizabeth Schott is the Executive Director of Accionscreen-shot-2016-09-13-at-11-07-51-am, which was one of 10 non-profit finalists selected. Elizabeth said, “Participating in Advance! San Diego was a wonderful experience. It was a once-in-a-lifetime opportunity to pitch our organization’s social impact to more than 300 attendees at the sold-out event. We definitely received high-quality training, and it was inspiring to share with the other nonprofits in San Diego.” Accion placed third out of ten finalists, which were selected from 85 initial applications. Regents Bank Senior Vice President Stephen Friedman served as a mentor to Accion and assisted with the composition of their presentation.

This was the inaugural event of “Advance San Diego” and it is hoped that the competition and opportunity for financial support and recognition for San Diego non-profits will become a San Diego tradition.

“Nonprofit groups create a strong ripple effect in the San Diego economy; they influence everything from the arts, to education, transportation and policy,” Mark Cafferty, president and CEO of San Diego Regional Economic Development Corp. said in a statement. “Partnering with SDSVP not only provides these organizations with the tools and knowledge to succeed, but more importantly, enables these nonprofits to continue to positively influence quality of life throughout the entire region.”

Regents Bank is proud to have supported this event and many other events throughout the year which support the San Diego and Vancouver, WA business communities. For more information on Regents Bank visit our website at www.regentsbank.com.

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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.

 

Regents Bank and Davis Medical Electronics Prove to Be Great Partners

Randy Davis, President of Davis Medical Electronics↗ has worked with many banks since 1983 when he started his own company. Randy is a vocal supporter of his Relationship Manager Stephen Friedman and the relationship they’ve built over the years. It’s that relationship and the Regents Bank consultative approach to banking that led Randy to become a Regents client.

Here is Randy telling how Regents has been more than a bank to him, but a strategic partner in the building of his business:

 

Regents Bank has offices in La Jolla, San Diego, Carlsbad and El Cajon, CA. There is also a full-service Regents branch in Vancouver, WA. To learn more about the Regents Bank consultative approach to banking visit the Regents Bank website at www.regentsbank.com.

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↗ 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.

 

Stephen Friedman projects accelerated loan growth in 2012 at ACG “State of the Capital Markets” Event

 

ACG San Diego Event Crowd

Stephen Friedman, Sr. Vice President of Regents Bank projected accelerated loan growth in 2012 when he spoke as a panelist at ACG’s “State of the Capital Markets” program recently held at the Lodge at Torrey Pines. The event was co-sponsored by Regents Bank.

There were over 75 attendees comprised of leaders in the San Diego finance and investment community.  ACG San Diegoscreen-shot-2016-09-13-at-11-07-51-am is a local chapter of an international organization with over 12,000 members worldwide.  The organization’s motto is “It is the place where deal makers meet.”

The focus of the event was the state of the capital markets.  Stephen’s focus on the panel was the state of the senior debt markets and expectations for lending activity in 2012 in general, and more specifically in San Diego.  His expectations for 2012 were for increased lending activity in 2012 with anticipated overall loan growth of between 5-10%.  His conclusions were supported by an analysis of the current health of the banking industry, recent lending trends, changes to the banking landscape, as well as from primary information gathered from a survey he conducted of financial leaders in the San Diego market.

Specific analysis to support increased loan growth were as follows:

  • The financial health of the banking industry has improved significantly over the last two years, with key banking metrics such as return on assets, return on equity and the percentage of bad loans nearing levels that would be considered normalized.  While key banking metrics currently are not quite as robust as before the financial crisis. Stephen stressed that today’s metrics are more valid because they are directionally improving and have been scrubbed rigorously by regulators, auditors and management for years now, while pre-bust metrics clearly had greater imbedded risk than was evident at the time.
  • Loan to deposit ratios have declined steadily since 2005, meaning that more of the bank’s deposits are not being lent out into the marketplace, which has hurt bank earnings and is putting pressure on bank management teams to find opportunities to lend.
  • The local banking market has been radically transformed through the failure and acquisition of the weaker competitors, which have been replaced by over a dozen new competitors in the market, all well-armed with fresh capital, strong balance sheets and mandates to grow.
  • An analysis of historical lending activities shows that loan growth is picking up pace, particularly in the area of Commercial & Industrial (C&I) loans, which comprises basic business lending.  In 2011 C&I lending was the only loan category that reported growth nationally with a strong uptick of over 14%.  This is an extremely positive indicator for healthy businesses that are looking for financing to support their growth.
  • Stephen concluded by citing a survey of local commercial bankers and investment bankers he personally conducted. The results were fairly uniform in support of continued and accelerated loan growth in 2012, particularly in the areas of C&I lending and owner/user commercial real estate.

The other panelists each focused on other tranches of capital, including mezzanine financing, “unitranche” financing and private equity.  All participants echoed the message that the capital markets are flush with liquidity and that competition for companies with growth prospects is heating up, driving up purchase multiples, which in turn is bringing more sellers to the table.

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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.

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

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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.