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Regents, Discovery Valley Begin Operations.(new banks)(Brief Article)(Statistical Data Included)

San Diego Business Journal

| September 24, 2001 | Allen, Mike | COPYRIGHT 2009 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Banker Says Interest Rate Cuts Doing Little for Economy

All things considered, this isn't the best time to open a bank; but don't tell that to the organizers of two new San Diego community banks that opened last week.

"Obviously, it's an unusual time to open any kind of business (given the terrorist attack of Sept. 11), but I think that as we get down the road over the next few weeks, things will gradually resume to normal," said Dan Yates, CEO of Regents Bank, which opened for business Sept. 18 in La Jolla.

With final regulatory approvals in hand earlier this month, the bank could have opened earlier, but officials decided to hold off its "soft"…

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