We had the good fortune of connecting with Dan Yates and we’ve shared our conversation below.
Hi Dan, what is the most important factor behind your success?
Our Consultative culture/mission to offer clients advice, ideas, suggestions, introductions to key contacts, etc. all of which are centered around goals of 1) helping clients scale their business, 2) improve profits, 3) navigate business challenges/pain points. In addition, our shareholders are local, influential CEO’s and business leaders that create a network that our clients are encouraged to tap into and leverage.
Alright, so for those in our community who might not be familiar with your business, can you tell us more?
Dating back to the 1980’s, there has been a steady decline in the number of banks in our country. Consolidation has reduced the number of banks from a high of 16,000 institutions to approx. 5,000 today. For nearly a decade (2008-2018) hardly any new banks were formed in the United States. Endeavor was the first new bank to be formed, in San Diego, in over a decade and the vision for the bank was to create widespread ownership concentrated amongst local business owners. Our network of influential shareholders combined with a consultative business culture (focused on sharing ideas with business owners to help them thrive), has proven to be a winning combination. We launched our bank with a management team that consisted of 4 former bank CEO’s with vast industry experience and successful track records. We have drawn on that experience to create a bank designed to serve local business owners by offer access to decision makers, who are themselves entrepreneurs, and thus highly capable of delivering the precise help business owners covet from a bank and from their most trusted advisors.
If you had a friend visiting you, what are some of the local spots you’d want to take them around to?
I would start with lunch at Peohe’s in Coronado providing a spectacular waterfront view of the San Diego Skyline just across the bay. I would want to spend time at some of our beautiful beaches along our coastline, each very diverse (tide pools, surf spots) to share the vast variety of beach experiences our County has to offer. I enjoy kayaking around the caves in La Jolla Shores. A drive eastward to our local mountains and wineries would certainly be high on my list. Most visitors enjoy our world famous Zoo and Balboa Park so I always love to share that experience with visitors to our fine city. We have diverse dining options as well such as an evening dinner at Mister A’s, Gaslamp District, and Little Italy. I love motorcycle and bike riding through Rancho Santa Fe and always enjoy sharing that outdoor experience. I have many favorite spots to hangout in North County, particularly those that offer live music so a visit to our community is always made special with trips to the Belly Up Tavern, Kraken, and other venues that feature the live local music scene.
Who else deserves some credit and recognition?
The most influential mentors in my career were the founders of 1st Business Bank, Robert Kummer, Jr. and Joseph Sanford during its 20+ year existence. 1st Business Bank operated with one of the most unique cultures in the banking industry, crafted by Bob and Joe, and 1BB was a highly successful and well respected bank. Those of us that had the privilege of earning a spot on the 1st Business Bank team learned valuable business lessons from our mentors and a large number of bankers from 1BB went on to form their own banks as our careers advanced, with the inspiration and culture (DNA) of those banks largely patterned after the 1st Business Bank culture.