Bank Turns to Industry Veteran as Opening Nears

The prime organizer of Pacific Coast National Bank in San Clemente with an office planned in Encinitas did most of the legwork in helping to found the bank.

But, he won’t be able to wear the top hat once it opens.

“The rule of thumb for de novo Banks chartered by the Office of the Comptroller of Currency is for a CEO to have prior experience, and that’s something I didn’t have,” said Michael Hahn, who is Pacific Coast National’s president and chief operating officer.

To ensure the bank received the regulators’ blessing, directors turned to Colin Forkner, 61, who has 40 years in the banking industry, including a stint as chief executive officer and a founding director of California First National Bank in Irvine.

Hahn’s track record in banking is quite impressive, having worked in the industry about 21 years and most recently as the manager of Union Bank’s coastal business banking group, which has 21 branches.

But without the CEO tenure, he knew he was going to be the No. 2 guy.

Hahn, 46, has been working on launching the new bank since November 2003. Despite a spurt of new Banks in the region, there’s plenty of business for one more, he said.

“Other than Pacific Mercantile Bank, we’ll be the only independent bank in San Clemente,” he said. “Our niche will be providing much higher customer service, and relationship banking.”

Hahn said the bank plans to raise between $17 million and $20 million in capital to open two offices simultaneously , probably sometime in March.

The Encinitas branch, at El Camino Real and Garden View Road, will house the bank’s full-service Small Business Administration office. Yvonne Jackson, a longtime SBA banker with Peninsula Bank and most recently, Community First National Bank, will head up that division.

Hahn said that while he can’t be the CEO, he’ll be getting invaluable on-the-job training. The plan is to have Forkner act as Hahn’s mentor for three years, then hand over the reins.

Other executives already on board at Pacific Coast National are Chief financial Officer Terry Stalk and Richard Grinyer, the chief credit officer. Hahn has known Grinyer for 21 years and worked with him first at California First Bank, then at Union Bank of California.

The board of directors consists of Chairman Dennis Lindeman, Michael Cummings, David Davies, Fred deBloom, David Johnson, Donald Mealing, Denis Hugh Morgan and John Vuona.

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Growing Deposits:

A study of Southern California Banks found the average deposits at bank branches in the region in 2004 were $122.7 million, up from $119.5 million for the average branch in 2003.

The study, done by Friedman, Billings, Ramsey