California Republic Bank

California Republic Bank was co-founded by John DeCero, Jon Wilcox, and Mark RebalMark RebalMark Rebal is a California banker who co-founded California Republic Bank with John DeCero and Jon Wilcox in 2007. After Mechanics Bank acquired that bank for about $330 million in 2016, he co-founded Nano Banc in Irvine with Mark Troncale and Anthony Gressak and became its chief executive. Nano Banc was the subject of repeated enforcement actions by the Federal Reserve and California regulators from 2021 onward and was closed by the California Department of Financial Protection and Innovation in September 2026.Open the full entry, all of whom had years of experience in commercial banking and car loans, including stints at Westcorp, an Irvine-based auto finance company. DeCero had earlier helped build Irvine-based Western Financial Bank, which Wachovia acquired in 2006 for $3.9 billion. The bank was founded in 2007, just as the financial crisis was beginning to unfold, and opened in Newport Beach on December 5, 2007. DeCero recalled that they had seen problems coming in 2005 and 2006 and wanted to start a “clean bank without issues.”⁠[1][2][1][3][1]

DeCero said California Republic survived the 2008 financial crisis thanks to “a rock-solid deposit base” and “making good loans” to customers it knew; he believed the bank would have become much bigger if other banks had not been bailed out.⁠[1][1]

On July 1, 2011, California Republic Bank became a member of the Federal Reserve System, changing its primary federal regulator. On January 9, 2012, the bank purchased a branch of National Bank of California, and on December 31, 2012, it moved its headquarters from Newport Beach to Irvine.⁠[3][3][3][3]

The bank’s auto lending division, CRB Auto, originated car loans through dealerships and financed them through securitizations. On May 28, 2015, California Republic Bank and its subsidiary California Republic Funding entered into an underwriting agreement with Credit Suisse Securities (USA) for $390 million of asset-backed notes issued by California Republic Auto Receivables Trust 2015-2; the agreement was signed for the bank by Mark Rebal, then chief operating officer and executive vice president.⁠[4][4][4]

As of March 31, 2016, California Republic Bancorp had approximately $1.8 billion in total assets and about 500 employees (233 of them in Orange County), with five branches in Southern California, in Newport Beach, Beverly HillsBeverly HillsBeverly Hills is an incorporated city in Los Angeles County, California, known for its film-industry residents, Rodeo Drive shopping district and hotels. Incorporated on January 28, 1914, it covers about 5.71 square miles and recorded 32,701 residents in the 2020 census. It operates under a council–manager system. The Metro D Line extension reached Wilshire/La Cienega in May 2026.Open the full entry, Irvine, Westlake Village, and San Diego. The bank provided loans, deposits, and cash management services to individuals, businesses, investors, and family offices; its CRB Auto division was a relationship-based indirect auto lender that purchased auto contracts from franchised and select independent dealerships in 14 states.⁠[5][5][6][5][5][5]

On April 28, 2016, Walnut Creek-based Mechanics Bank and California Republic Bancorp announced a definitive merger agreement approved by both boards, under which California Republic Bancorp shareholders would receive $37.19 per share in cash, a 50% premium over the previous day’s closing price of $24.77; the deal was estimated to be worth about $330 million in cash. The combined entity was expected to have about $5.4 billion in total assets, and the transaction was subject to regulatory and shareholder approvals. Mechanics Bank president and CEO Ken Russell called California Republic Bank “the perfect complement for Mechanics Bank,” and California Republic Bancorp president DeCero said there was very little overlap between the two institutions and many synergies. On the morning the deal was announced, California Republic Bancorp shares rose 45% to $36.⁠[5][5][6][6][5][5][5][5][6]

The merger took effect on October 1, 2016, with California Republic Bancorp and its subsidiary California Republic Bank merging into Mechanics Bank and shareholders receiving $37.19 per share in cash. Mechanics Bank used proceeds from a rights offering to help fund the merger consideration. After the merger, former California Republic Bancorp president DeCero and chief executive Wilcox joined the Mechanics Bank board, and DeCero succeeded Ken Russell as president and chief executive officer of Mechanics Bank. As of September 30, 2016 (its final report), California Republic Bank had total assets of about $2.226 billion and deposits of about $1.567 billion.⁠[7][8][7][7][7][9][9]

After the merger, California Republic’s five Southern California branches became part of Mechanics Bank, and CRB Auto became a division of Mechanics Bank. Mechanics Bank chairman Carl Webb later said that Mechanics Bank had essentially been a Northern California bank and that California Republic was its first foray into Southern California. DeCero recalled that by the time of the acquisition California Republic had become the fifth-largest Orange County-based bank, with assets topping $2.2 billion plus $3.1 billion in auto loans originated through dealerships in 14 states.⁠[7][7][1][1]

After the acquisition, Mark Rebal, Mark TroncaleMark TroncaleMark Troncale is a California banker and former senior vice president of California Republic Bank. In 2018 he co-founded Nano Banc in Irvine with Mark Rebal and Anthony Gressak and served as its president, leading the bank’s rapid, technology-focused expansion. Nano Banc was the subject of repeated enforcement actions by the Federal Reserve and California regulators from 2021 onward and was closed by the California Department of Financial Protection and Innovation in September 2026.Open the full entry, and Anthony GressakAnthony GressakAnthony Gressak (Anthony R. Gressak III) is a former California bank executive and former senior vice president of California Republic Bank. In 2018 he co-founded Nano Banc in Irvine with Mark Rebal and Mark Troncale, serving as chief credit officer and then acting interim chief executive officer before resigning in February 2022. In 2024 the Federal Reserve Board, with his consent, prohibited him from the banking industry and assessed a $75,000 civil money penalty.Open the full entry, who had worked at the bank, left to found Nano Banc.⁠[10][10]