Montecito Bank & Trust doles out $1M in community grants
Montecito Bank & Trust started the giving season in style as the financial institution hosted its 22nd annual Community Dividends Luncheon on Nov. 25, the Monday before Thanksgiving, and awarded 195 local nonprofits a total of $1 million.
Montecito Bank, the oldest and largest locally owned community bank in the Santa Barbara and Ventura counties, noted that it has donated $1.6 million through 2024, including the $1 million contributed through the Community Dividends program.
CEO and President Janet Garufis said in front of a packed room at the Santa Barbara Hilton Beachfront Resort that the Community Dividends event is “always my favorite time of the year.”
“The desire to make a difference in the community is embedded in the bank’s DNA,” Garufis said.
“The first event I ever attended for MB&T was Community Dividends and the magic I felt in the room confirmed for me that I made the right decision to work at Montecito Bank and Trust and it is still the same feeling I get as I stand before you today.”
Community Dividends is aimed at providing support to nonprofits that serve low- and moderate-income individuals and families in Santa Barbara and Ventura counties through education, social services, medical and health services and the arts.
This includes nonprofits like Foodbank of Santa Barbara County, Girls Inc. of Greater Santa Barbara and Girls Inc. Carpinteria, the Lobero Theatre Foundation, the Storyteller Children’s Center and so many more.
For the full list of nonprofits that received funding in 2024 from the bank visit montecito.bank/community/community-dividends.
Throughout the program’s 22 years, the bank has granted more than $23 million to more than 300 nonprofits, according to a press release.
The bank’s practice of investing a portion of its profits back into the community started under its co-founder, Michael Towbes, who developed the Community Dividends program when he was the bank’s chairman and CEO.
Towbes was the bank’s sole shareholder when he died in 2017, at the age of 87.
And since for the past five years, the bank has also made an effort to highlight at least two nonprofits making an impact they deem Towbes worthy.
In 2019, the bank created the Michael Towbes Community Impact Dividend, a special award created in 2019 to honor the late founder.
Anne Towbes, his widow, alongside Garufis, presented the $50,000 awards on the stage Nov. 25, highlighting Casa Pacifica Center for Children & Families and Youth and Family Services YMCA, Noah’s Anchorage.
Since its inception, the MTCID has invested a total of $1,125,000 to 17 organizations — including the two organizations who each received $50,000 at this year’s event.
Casa Pacifica will be using the money to help expand two high-demand programs – Outpatient Therapy and Enhanced Care Management — to make mental health and medical services accessible to even more 18–25-year-olds; many of who are former foster youth, on probation, homeless or at-risk for homelessness.
“This is amazing and an incredible honor. On behalf of the folks we serve every day, kids and families, thank you all so much,” CEO of Casa Pacifica Shawna Morris said.
“I am just so humbled to be up here representing Casa Pacifica. For 30 years we have been providing life-changing services to kids in Ventura and Santa Barbara Counties. When we did the stats for the 30-year anniversary, they told me we served 52,500 kids and families and that’s a heck of a lot of help.”
Families and Youth and Family Services YMCA, Noah’s Anchorage will be using the $50,000 to help open their Transitional Housing Placement Program and become operational.
This standalone home in downtown Santa Barbara will provide housing, supportive services and counseling to nine youths at a time.
“We are proud of our traditional Ys throughout Santa Barbara and Ventura but Families and Youth and Family Services YMCA is a special place and they do some pretty powerful work,” Margo Byrne, president and CEO of the Channel Islands YMCA, said.
“The level of care they provide to youth and be that lift to help them reach their full potential is pretty amazing and we are excited to take this next step.”
email: jmercado@pacbiztimes.
