Montecito Bank & Trust opens in Santa Maria
By Madeleine Benn Staff Writer Montecito Bank & Trust is expanding into the Santa Maria Valley, as the largest bank based on the Central Coast opens its 15th branch. After having received FDIC approval, the bank is set to have a soft launch in December and a grand opening in January. “We have been planning Read More →
Pacific Premier reports lower loan production, smaller assets than a year ago
Pacific Premier Bancorp saw its net income and assets take a sharp dip in its most recent quarter, the company announced Oct. 20. The Irvine-based bank, which has nine branches in Santa Barbara and San Luis Obispo counties, reported net income of $73 million, or 77 cents per share. For the same quarter in 2021, Read More →
Pacific Western Bank reports income dip
Los Angeles-based PacWest Bancorp — the parent company of Pacific Western Bank, a bank with 13 branches in the tri-county region — announced a drop in net earnings from last year with net income of $122.2 million, or $1.02 per diluted share, for the third quarter of 2022. In the same quarter last year, the Read More →
Citizens Business Bank reports earnings growth
CVB Financial Corp., the parent company of Citizens Business Bank, reported net income of $64.6 million for the third quarter ended June 30, an increase from $49.7 million in the same quarter a year ago. Diluted earnings per share were 46 cents for the third quarter of 2022, compared to 37 cents for the same Read More →
Merger of U.S. Bank and Union Bank gets final U.S. approval
U.S. Bank’s $8 billion acquisition of Union Bank has the green light from U.S. regulators, a big step forward for a deal that could make U.S. Bank one of the biggest retail banking companies in the tri-county region. The deal received its final U.S. regulatory approvals on Oct. 14, more than a year after it Read More →
Montecito Bank & Trust assets approach $2.5B
Montecito Bank & Trust, the biggest bank based in the tri-county region, reported total assets increased nearly 13% during the 12 months ending June 30. The Santa Barbara-based bank saw total assets grow $276.45 million during the period, closing at $2.46 billion, it said in a quarterly report released Aug. 5. Montecito Bank & Trust Read More →
Community West reports earnings decline as PPP loans wind down
Goleta-based Community West Bank reported a drop in net income in its most recent quarter, as the federal Paycheck Protection Program wound down. Community West Bancshares, the bank’s holding company, released its earnings report for the second quarter of 2022 before the markets opened July 29. Its net income for the quarter was $2.6 million, Read More →
