Regal Financial In the News

Regal Financial Bank Grand Opening Event Pictures
January 31, 2003

Regal Financial Bank Opens as First Tenant at IDX Tower
January 30, 2003

(Seattle) Regal Financial Bank has moved to new headquarters as the first tenant in downtown Seattle newest high-rise building, the IDX Tower. The IDX Tower, which is also known as the Fourth & Madison Financial Center, was developed by Hines Properties. Regal is the only commercial banking operation in the new building and also holds exclusive rights to ATMs throughout the facility. Regal Financial Bank is an independent community bank that opened last year as the first independent bank headquartered in downtown Seattle Financial District since 1989.

History On April 18, 2002, almost a year to the day after submitting their charter application, the Regal team received its final regulatory approvals and began operations from its interim location on the 8th Floor of the Millennium Tower, at Second & Columbia in downtown Seattle. The Bank was capitalized at over $10 million and has seen its share price rise 30% since opening. Regal closed the year 2002 with $45 million in assets, having been in operation for 8 months. Regal Directors believe that their solid performance reflects the need for a community bank in the downtown core. What we have been able to perform so well indicates there is great confidence in the positioning of a community bank in the downtown Financial District,said Regal President & CEO, Jesse Tam, from our new headquarters in the IDX Tower, we expect to further increase our visibility and our business.

In addition to traditional, full service banking (including commercial, real estate and private banking), Regal Financial Bank serves as a single, integrated provider of a variety of financial services, including insurance and investments, as allowed under the Financial Modernization Act. This allows customers to conveniently meet the majority of their financial needs from a single source. As a further niche, Regal offers these services from within the highly personalized environment of a community bank situated in a prime downtown location.

Besides Tam, Regal Financial Bank executive team is led by Ron Brown, Chief Credit Officer, a 32 year veteran banker with extensive lending experience; and Micki Carrithers, Chief Financial Officer, who comes to the Bank with over 20 years of financial management experience involving commercial and international banking. Regal Directors include: Jack Alhadeff, Managing Partner, JDA Group; Larry Blackett, Vice President, Kidder Mathews Commercial Real Estate; Stan Dickison, President, Dickison Insurance; Omar Lee, President, Great Wall Mall; Kathryn Amundson, President, Seattle-Surabaya Sister City Association; Brian Hill, Chief Operating Officer, Mobliss, Inc.; Glenn Springman, Vice President, Sherron Associates; Hank Lo, President, Reliance Mortgage.