San Diego Business Journal

Regents Bank Names President, Says Acquisition on Track

By Mike Allen Monday, May 14, 2012

Regents Bank, now a subsidiary of Los Angeles based Grandpoint Capital, hired Steve Sefton as president, a title formerly held by Dan Yates, the bank’s chief executive officer, the bank said May 10.

Yates said he hired Sefton — no relation to the Seftons of San Diego Trust & Savings fame — to help in the transition and growth of the bank that is based in La Jolla and has about $360 million in assets. Yates is also president of Grandpoint Capital, a multi bank holding company.

Sefton was most recently senior vice president of Citizens Business Bank in Ontario, managing one of its largest offices. He began his banking career in 1984 at City National Bank.

Yates said Regents’ acquisition of Escondido-based California Community Bank is on track for the third quarter and probably will happen in late August or early September.

Both Sefton and Cal Community CEO Larry Hartwig are joining Regents’ eight-member board of directors, Yates said.