Regents Bank, which operates a Vancouver branch, will be acquired early next year by Grandpoint Capital Inc., the parent company of eight Los Angeles banks and majority owner of the Bank of Tucson in Tucson, Ariz.
The transaction will provide Regents’ business customers with a more substantial base of capital for credit and lending needs, according to a press release posted on Regents Bank’s website. As of June 30, Regents Bank had total assets of $355 million. As of Aug. 31, Grandpoint Capital’s assets totaled $875 million, held by the company’s affiliate, Grandpoint Bank.
Regents Bank is owned by Regents Bancshares Inc., based in La Jolla, Calif. The company owns three California offices and has operated in Vancouver since 2003. It has a full-service branch at 2001 S.E. Columbia River Drive. Regents Bank will retain its existing staff and continue to operate under the same name.
