EXHIBIT 99.1

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

               REGENCY BANCORP ANNOUNCES 3RD QUARTER CASH DIVIDEND

         FRESNO, JULY 23 -- Regency Bancorp (Nasdaq REFN), holding company
parent of Fresno (CA)-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 August 6, 1999. The dividend will be paid
September 2, 1999.

         "As we enter the third quarter of a record year for Regency
Bancorp," said Steve Hertel, the company's chairman, president and chief
executive officer, "we are pleased to declare another quarterly cash dividend
that is also a record. With this third $.10 cash dividend of the year, our
shareholders will have received $.30 per share in 1999, which is a 25 percent
increase over cash dividends paid in any previous year."

         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.

                                    # # #

JULY 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.

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