Regents Bank, based in La Jolla and now a subsidiary of Grandpoint Capital in Los Angeles, said it named Steven Sefton as its chief executive officer.

He replaces the bank’s first and only CEO Dan Yates, who was promoted to president of Grandpoint Bank, which has about $910 million in assets, and seven branches.

Sefton joined Regents in May from Citizens Business Bank as president, and retains that title.

Regents was sold to Grandpoint Capital in January 2012. Shortly after, Grandpoint announced the purchase of California Community Bank in Escondido.

That deal, which closed in November, added about $245 million in assets to Regents Bank, which assimilated CCB.

Regents now has $615 in assets and seven offices in San Diego County and one in Vancouver, Wash., where its chairman, Thomas Young, resides.

--Mike Allen