California Oaks to be bought by SF Valley bank
Thousand Oaks-based California Oaks State Bank will be acquired by California United Bank, the two companies announced Aug. 25. California United, an Encino-based company, will pay about $17.3 million for California Oaks, half in cash and half in shares of common stock, according to a joint news release from the banks. California United said it Read More →
Governor tells Goleta chamber he supports carbon limits
During a stop in Goleta on Aug. 24, Gov. Arnold Schwarzenegger voiced full-throated opposition to Prop. 23, the November ballot initiative that would suspend a cap-and-trade system for carbon emissions set to take effect next year. Schwarzenegger spoke at the Santa Barbara Municipal Airport at an event organized by the Goleta Valley Chamber of Commerce. Read More →
Oxnard keeps A+ bond rating despite probe
Standard & Poor’s Ratings service said Aug. 20 that an ongoing probe of the city of Oxnard by the Ventura County District Attorney’s office will not affect ratings on the city or its water revenue bonds. The rating agency maintained an A+ stable rating on the city and said it will continue to monitor the Read More →
Rabobank buys two failed banks
Dutch banking giant Rabobank scooped up failed Chico-based Butte Community Bank and Stockton-based Pacific State Bank on Aug. 20, as the federal government swept through California and shuttered four banks. Butte Community and Pacific State operated a total of 23 branches. They were acquired through a purchase and assumption agreement with the FDIC, through which Read More →
Attendance up at Mid-State, Ventura County fairs
Attendance at the Ventura County Fair was up 7 percent over last year, according to figures released by fair officials shortly after the two-week event ended on Aug. 15. Total attendance was 328,520. The crowds were also bigger this year at the California Mid-State Fair in Paso Robles, which ended Aug. 1. Total attendance was Read More →
Los Padres Bank fails, is bought by Pacific Western
Solvang-based Los Padres Bank was seized by federal regulators Aug. 20 in the second tri-county bank failure of the financial crisis. The Federal Deposit Insurance Corp. took Los Padres, a subsidiary of Harrington West Financial Group, into receivership. San Diego-based Pacific Western Bank — the same bank that acquired Ventura-based Affinity Bank when it failed Read More →
Mindbody raises up to $14M
San Luis Obispo-based software firm Mindbody has secured a $14 million capital infusion led by Bessemer Venture Partners, the biggest disclosed Central Coast financing deal in years. The deal, announced Aug. 20, brings a top-tier Silicon Valley investor to San Luis Obispo County. It includes $11 million up front and the option to take in Read More →
