Bank of San Diego Names Boyd Lindquist President

Boyd A. Lindquist, formerly a vice president and Eastern region supervisor for Central Bancorporation Inc. of Denver, has been named president of Bank of San Diego, effective next Monday, BSD Bancorp Inc. Chairman James S. Brown said Tuesday.

Lindquist will replace Brown, who served as interim president since February, when E. Lynn Caswell resigned as president because of disagreements over the bank’s future. Caswell had been president since 1984.

The Bank of San Diego has been operating under a regulatory order to increase its capital-to-assets ratio to 7%. That ratio was at 5.2% on Dec. 31.

At Central Bancorporation, Lindquist managed a group of 16 banks that had combined assets of $450 million and 430 employees.

Lindquist said his “number one priority will be to continue guiding the bank along the path of restored profitability.”

The Bank of San Diego had assets of $151.7 million, as of March 31.

BSD Bancorp is a publicly owned, multiple-bank holding company that reported $348.6 million in assets on March 31. In addition to Bank of San Diego, its subsidiaries include American Valley Bank, Coast Bank, Bank of La Costa and Borrego Springs Bank. It also owns BSD Datacorp Inc., a data-processing subsidiary.