Independent bank opens, brings tailored services

California Republic Bank, which claims to be the largest independent bank ever founded in California, opened for business Wednesday morning in an office near Fashion Island.

The bank opened with an initial capitalization of $52 million, which its founders said came from roughly 300 entrepreneurs, business owners and other investors around Southern California.

President and Chief Operating Officer Jon Wilcox and Vice Chairman John DeCero said the bank’s high starting capital would allow it to make more substantial loans to customers than the average bank could. California Republic Bank, they said, could lend up to 25% of its capital on a secured basis.

California Republic Bank’s office is at 1400 Newport Center Drive, Suite 150.

— Michael Miller