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Deals bolster balance sheets at two area banks |
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Written by Stephen Nellis
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Monday, 16 November 2009 |
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One bank went local, and one bank got smaller but sturdier.
Two deals recently closed that change the tri-county banking landscape. As of Nov. 11, the Bank of Santa Barbara will answer to group of Santa Barbara investors rather than a Michigan-based parent firm.
As of Nov. 6, the parent of Solvang-based Los Padres Bank, the third-largest bank in the region with 13 tri-county branches, no longer has branches in the Kansas City area but has better capital ratios. The bank still faces losses and a risk-based capital shortfall, but it is in a stronger position to meet the requirements laid out by federal regulators in cease and desist order filed in October.
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Last Updated ( Monday, 16 November 2009 )
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With pundits, politicians and even Apple co-founder Steve Wozniak piling on Toyota Motor Co. over acceleration problems with U.S. and European models, I turned to one of the experts in quality and consumer preferences.
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