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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) July 27, 1998
REGENCY BANCORP
(Exact name of registrant as specified in its charter)
California 000-23815 77-0378956
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
7060 N. Fresno, Fresno, California 93720
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (209) 438-2600
Not Applicable
(Former name or former address, if changed since last report).
Page 1 of 6 pages Exhibit Index on page 4
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Item 5. OTHER EVENTS.
The registrant issued a press release dated July 27, 1998 announcing
that the Federal Reserve Bank of San Francisco, acting under delegated
authority on behalf of the Federal Reserve System, has approved the
application of Regency Bank, Fresno, California, to become a member of
the Federal Reserve Bank of San Francisco effective July 23, 1998.
Additionally, the registrant announced that it has engaged Belle
Plaine Financial LLC to act as the exclusive financial advisor to
Regency Bancorp and its various entities in connection with its
efforts to acquire, invest in, or sell depository institutions and/or
other businesses. Belle Plaine has similar agreements and has
represented several other banks, including Western Bancorp (formally
Monarch Bank) with acquisitions, capital offerings and sales. The
foregoing is qualified by reference to the agreement attached as
exhibit (99.1).
Item 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) FINANCIAL STATEMENTS.
Not Applicable.
(b) PRO FORMA FINANCIAL INFORMATION.
Not Applicable.
(c) EXHIBITS.
None
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
REGENCY BANCORP
Date: July 27, 1998 /s/ STEVEN R. CANFIELD
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Steven R. Canfield
EVP & CFO
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EXHIBIT INDEX
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SEQUENTIALLY
EXHIBIT NUMBER DESCRIPTION PAGE NUMBER
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99.1 Press Release dated July 27, 1998 5
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EXHIBIT 99.1
FOR IMMEDIATE RELEASE
Contact: Wil Goodrich, Vice President-Director of Marketing (209) 438-2600
REGENCY BANCORP ANNOUNCES NEW FED MEMBERSHIP FOR BANK
FRESNO, JULY 27 -- Regency Bancorp of Fresno, parent holding company of
Regency Bank and Regency Investment Advisors, Inc., announced that the Federal
Reserve Bank of San Francisco has approved the bank's application to become a
Federal Reserve System member bank effective Thursday, July 23, 1998.
Steve Hertel, Regency chairman, president and chief executive officer,
stated that, "We're pleased that the Federal Reserve provided this vote of
confidence to our bank. Since forming our holding company in March of 1995,
we've considered simplifying our regulatory oversight. With Fed membership for
the bank, both it and the holding company will now have the same folks providing
our supervision."
The announcement followed the holding company's monthly board meeting on
Thursday, and also reported another important development for the financial
services company headquartered in the center of California's San Joaquin Valley.
"Regency Bancorp has engaged Belle Plaine Financial LLC to act as the
exclusive financial advisor to the holding company and its subsidiaries," said
Hertel. "In this role, Belle Plaine will be assisting us in evaluating
strategic opportunities to enhance shareholder value."
Hertel also added that, "We are well acquainted with Belle Plaine, a San
Diego based financial advisor and consultant. Our agreement with them is
similar to agreements they have
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with other community banks and bank holding companies such as Western Bancorp
(formerly Monarch Bank)."
Regency Bancorp and its subsidiaries have served Fresno and the Central
Valley since December of 1980. Earlier this month, the holding company
announced record income of $1.15 million for the first half of 1998, assets of
$205.6 million, and its S.E.C.- registered money management firm exceeded $100
million in assets managed in less than five years of operation. Its stock
trades on the Nasdaq National Market System under the symbol REFN.
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July 27, 1998
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