Region
Just as the Santa Barbara County began bracing for dour outlooks and dwindling numbers at area banks, several regional financial institutions surprised shareholders with unexpected reports. Others had the deflated numbers that had been projected.
Harrington West Financial Group and Montecito Bank & Trust showed significant growth at the close of 2009.
“Banks with good news like this will help fund our recovery,” said economics guru Bill Watkins of Cal Lutheran University. “Many of the banks that are locally based have top-notch management. They know what they’re doing.”
American Riviera Bank and Community West Bancshares ended the year with losses, though they both managed to turn a small profit in the fourth quarter.
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