EXHIBIT 99.1
                                                          FOR IMMEDIATE RELEASE

Contact: Wil Goodrich, Vice President-Director of Marketing - (800)562-6449, 
         Ext. 208

                REGENCY BANCORP ANNOUNCES QUARTERLY CASH DIVIDEND

         FRESNO, APRIL 23 -- Regency Bancorp (Nasdaq REFN), holding company
parent of Fresno-based Regency Bank and Regency Investment Advisors, Inc., today
announced that it has declared a $.10 per share cash dividend for its
shareholders of record May 7, 1999. The dividend will be paid June 4, 1999.

         "Regency Bancorp is pleased to recognize the company's continued
outstanding performance with this second quarterly cash dividend of 1999. It
follows the best first quarter on record in Regency's almost 20 years of
operation," said Steve Hertel, chairman, president and chief executive officer
of Regency Bancorp. "The board is extremely pleased to reward our shareholders
with this dividend."

         Regency Bancorp and its subsidiaries have served Fresno and the Central
Valley since December of 1980. The company currently provides banking to the
greater Fresno market and Madera County through its three branches and has a
government-guaranteed loan production office in Modesto. Its stock trades on the
Nasdaq National Market under the symbol REFN with market makers such as: Van
Kasper & Co., Hoefer & Arnett, and Sutro & Co. 

APRIL 23, 1999           # # # 

CERTAIN MATTERS DISCUSSED IN THIS NEWS RELEASE MAY BE FORWARD-LOOKING STATEMENTS
THAT ARE SUBJECT TO RISKS AND UNCERTAINTIES THAT COULD CAUSE ACTUAL RESULTS TO
DIFFER MATERIALLY FROM THOSE PROJECTED. SUCH RISKS AND UNCERTAINTIES, WHICH
COULD IMPACT FUTURE FINANCIAL PERFORMANCE, INCLUDE, AMONG OTHERS, (1)
COMPETITIVE PRESSURES IN THE BANKING INDUSTRY; (2) CHANGES IN THE INTEREST RATE
ENVIRONMENT; (3) GENERAL ECONOMIC CONDITIONS, EITHER NATIONALLY OR REGIONALLY;
(4) CHANGES IN THE REGULATORY ENVIRONMENT; (5) CHANGES IN BUSINESS CONDITIONS
AND INFLATION; AND (6) CHANGES IN SECURITIES MARKETS. THEREFORE, THE INFORMATION
SET FORTH HEREIN SHOULD BE CAREFULLY CONSIDERED WHEN EVALUATING THE BUSINESS
PROSPECTS OF THE COMPANY AND ITS SUBSIDIARIES.