Neighborhood National Bank in San Diego has named a former leader of Regents Bank as its president and chief executive.
The $89 million-asset bank said in a press release Thursday that Dan Yates has 34 years of experience in community banking. He co-founded Regents in September 2001 and served as the La Jolla, Calif., bank's chief executive. Regents became the fifth-biggest bank in San Diego before it sold itself to Grandpoint Capital in 2012. Following the sale, Yates became Grandpoint's president.
Yates also specialized in middle-market lending at Mellon 1st Business Bank and Union Bank. He began his career at Manufacturers Bank in Los Angeles, where he focused on lending to apparel companies.
Yates succeeds Robert McGill as Neighborhood National's CEO and Barbara Hosaka as president. McGill, who founded the bank in 1997, became chairman on Jan 1. Hosaka retired on Dec. 31.
Yates "is a seasoned banker who has a strong track record," McGill said in the release, adding that the new CEO possesses "a unique understanding of the current regulatory environment and how to implement strategies to overcome the difficulties all community banks are facing in this current economy."
In his new role at the community development bank, Yates will be responsible for building new client relationships in industries that are underserved around San Diego. He will also oversee capital raises and strategic positioning efforts.
Neighborhood National Bank, a unit of Neighborhood Bancorp, said it expects to conduct a capital raise in the first quarter.