Grandpoint Capital, Inc., and Regents Bancshares, Inc., the parent company of La Jolla, Calif.-based Regents Bank, jointly announced today that they have entered into a definitive agreement pursuant to which Grandpoint Capital will acquire Regents Bancshares, and Regents Bank will become a wholly owned subsidiary of Grandpoint Capital. Regents Bank has banking offices in downtown San Diego, La Jolla, Carlsbad and El Cajon, Calif., as well as in Vancouver, Wash. At June 30, 2011, Regents Bank had total assets of $355 million.

Completion of the transaction is subject to regulatory and shareholder approvals. It is anticipated the transaction will be completed in the first quarter 2012.

“This is an opportunity to acquire a healthy and well-managed bank that supports our strategic vision,” said Don M. Griffith, chairman and chief executive officer of Grandpoint Capital. “Serving the financial needs of the San Diego County business community is a priority for Grandpoint, and we believe the best way to do that is with a locally-managed bank. Regents is a perfect fit. They have an exceptionally talented management team led by President and CEO Dan Yates, who we have known for years. In the ten years since Regents was formed, the bank has become an integral part of San Diego County, with a reputation for highly personalized service and a keen understanding of the local market.” Following the acquisition, Regents Bank will continue to operate under its existing name with its current management and staff. Dan Yates will remain president and CEO and Thomas C. Young will continue as chairman.

“We're excited about our affiliation with Grandpoint Capital,” said Dan C. Yates, president and chief executive officer of Regents Bank. “We now have an opportunity to combine Regents' unique brand of Entrepreneurial Banking – which offers consultative strategies and solutions drawn from decades of experience serving business owners – with Grandpoint's substantial capital base to better meet the growing credit needs of our clients as their businesses continue to expand and prosper. Providing exceptional service and cutting edge solutions have always been the hallmark of Regents Bank, and we are committed to continue in our quest to build a world class banking company.”

Grandpoint Capital launched its wholly owned subsidiary, Grandpoint Bank, in 2010 with an initial capital investment of $75 million. At August 31, 2011, Grandpoint Bank had total assets of approximately $875 million and eight banking offices in Los Angeles and Orange counties. Grandpoint Capital is also a majority owner of the Bank of Tucson, which operates two banking offices in Tucson, Ariz.

Regents Bank was founded in 2001 by local banking professionals, led by Yates and Young, who came together with local community leaders to create a privately held banking company. The bank specializes in serving small to mid-size businesses and operates four banking offices in San Diego County and one in Vancouver, Wash.

About Grandpoint Capital

Grandpoint Capital, Inc., is a bank holding company headquartered at 333 South Grand Avenue, Suite 4250, Los Angeles, Calif. Its wholly owned subsidiary, Grandpoint Bank, has offices in downtown Los Angeles, Anaheim, Brentwood, El Segundo, Encino, Huntington Beach, Orange, and Santa Ana and a loan production office in Pasadena, Calif. The Bank serves small and mid-sized businesses, professionals, entrepreneurs, and high-net-worth individuals with an integrated product set of private client services, commercial banking and treasury management capabilities. At August 31, 2011, Grandpoint Bank had total assets of approximately $875 million. Grandpoint Capital is also a majority owner of Bank of Tucson, which operates two banking offices in Tucson, Ariz. At June 30, 2011, Bank of Tucson had total assets of $300 million. More information about Grandpoint may be obtained by visiting grandpointbank.com.

About Regents Bank

Founded in 2001, Regents Bank is a locally owned and managed community bank offering a wide range of financial services to its clients. The bank is headquartered at 875 Prospect St., La Jolla, Calif. The bank specializes in serving small to mid-size businesses. Regents offers a full line of commercial business loans, SBA 504 real estate loans, investment real estate financing, an array of depository products, corporate cash management and private banking services. Regents operates banking offices in downtown San Diego, La Jolla, Carlsbad and El Cajon, Calif., as well as in Vancouver, Wash. At June 30, 2011, Regents Bank had total assets of $355 million. More information about Regents Bank may be obtained by visiting regentsbank.com.

Contacts:

Grandpoint Bank – Penny Maines – (213) 542-2716
Regents Bank – Dan C. Yates, President & CEO – (858) 729-7700
Regents Bank – Randy Krenelka, Chief Financial Officer – (858) 729-7700