Business Owner Forum: Investor Strategies in Today’s Market

Endeavor Bank actively supports its clients’ businesses through its consultative banking model. This unique advantage is exemplified in Endeavor’s Business Owner Forum events. The forums bring together clients, shareholders, employees, and financial thought leaders for candid business discussions. They offer another way Endeavor goes beyond deposits and loans to provide strategic value through insight and community engagement.

One such forum, Investor Strategies in Today’s Market, focused on banking shifts, economic trends, and investment opportunities in the wake of recent market turbulence.

After introductory remarks from Endeavor Bank President Steve Sefton, the forum was handed off to moderator Jeffrey Dunham, founder of Dunham & Associates Investment Counsel, who assembled a panel of three seasoned investment professionals: Paul Thiel of Northern Trust, Chris Marsh of UBS, and Shawn Wamstad of Bernstein. Each shared expert perspectives on the recent banking turmoil, broader macroeconomic concerns, and practical advice for business owners navigating today’s financial landscape.

A focal point of the discussion was the collapse of several regional banks — Silvergate Bank, Silicon Valley Bank, Signature Bank, and First Republic Bank — and what set Endeavor Bank apart. CEO Dan Yates took the stage to explain that while those banks faced challenges such as over-concentration in crypto or venture capital and poorly managed bond portfolios, Endeavor maintained a disciplined and diversified approach. With nearly zero bond exposure and over $100 million in highly liquid assets, Endeavor has prioritized risk management and depositor protection, even encouraging the use of reciprocal deposit placement networks to ensure funds above FDIC limits remain secure.

The panel then expanded into broader economic insights. Paul Thiel warned of growing systemic risk from over-consolidation in the banking sector, expressing concern about the long-term impact of so much financial power concentrated in just a few institutions.

“The bigger concern that I have is more of a long-term issue in that we have seen such a consolidation among the top three or four banks,” he said. “It really raises almost national-security-level issues.”

He emphasized Northern Trust’s role as a fiduciary and the importance of diversification across both asset classes and banking relationships.

Chris March expressed concern about the dwindling number of community or regional banks.

“If we go back 40 years, we had probably 13,000 to 14,000 community or regional banks across this country. We probably had a little less than 10,000 at the turn of the century, and today it's 4,600 and shrinking,” he said. “That's not going to help us to actually feed the innovation, it's not going to help us to feed a diversified economy and so we've got to figure out some ways to actually continue to build that out and not consolidate everything in a few specific places.”

Chris also voiced concerns about regulatory friction but pointed to opportunities in cash management, private credit, and real estate — particularly in San Diego’s high-demand market.

Shawn Wamstad reinforced the potential in high-quality municipal bonds, private credit, and selectively timed investments in growth stocks, noting the importance of client education and trust during times of volatility.

“I think the saying is, ‘trust can just sprint out the barn door, but it walks back slowly’” he said.

Shawn also reminded the audience of some advice from Warren Buffet: Be fearful when people are greedy and greedy when people are fearful.

The panel also fielded questions about moral hazard, rising national debt, recession definitions, and the viability of assets like gold and crypto. While there was debate on the best policy response to recent bank failures, there was consensus that community banks like Endeavor play an essential role in local economic health, and that current challenges create real opportunities for investors with a long-term mindset.

In closing, attendees were invited to Endeavor’s East County office grand opening — another milestone that reflects the bank’s continued growth and commitment to serving the San Diego business community. The forum itself exemplified Endeavor’s consultative approach to banking by fostering open dialogue, delivering real expertise, and supporting business owners beyond traditional transactions.