Endeavor executives say its investors are largely members of the business community the bank intends to serve. “The vast majority are CEOs and business owners of closely held, well-established local companies,” said Dan Yates, Endeavor’s CEO.

Endeavor executives say its investors are largely members of the business community the bank intends to serve. “The vast majority are CEOs and business owners of closely held, well-established local companies,” said Dan Yates, Endeavor’s CEO. Photo by Jamie Scott Lytle.

Endeavor Bank’s Path to Approval

August 2016: Submits applications to the Federal Deposit Insurance Corp. and the California Department of Business Oversight for federal deposit insurance and a state charter, respectively.

March 2017: California Department of Business Oversight approves Endeavor Bank’s application.

June 2017: Names of the proposed bank’s CEO and president — Dan Yates and Steven Sefton — are revealed.

October 2017: The FDIC gives deposit insurance approval, subject to conditions including the raising of $25 million in initial capital.

January 2018: Endeavor Bank raises $26.5 million. Sets opening date for Jan. 22.

— The first new San Diego-based bank in a decade has raised $26...

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