Montecito Bank reports growth in assets, drop in loans for Q1
Montecito Bank & Trust’s assets increased more than 14% in the year ended March 31, with “strong” deposit growth, the bank said in its May 2 first-quarter earnings release. The Santa Barbara-based bank, the largest financial institution based in the tri-county region, said its total assets rose $302.45 million, closing at $2.39 billion, at the Read More →
Income grows at Community West Bank as PPP loans phase out
Net income for Goleta-based Community West Bancshares increased more than 31% for the quarter ended March 31, to $4 million, or 45 cents per diluted share, the company announced April 29. The holding company for Community West Bank reported net income of $3 million, or 35 cents per diluted share, for the same period last Read More →
Bank of the Sierra reports drop in income
Sierra Bancorp, a Porterville-based banking company with nine branches in the Tri-Counties, reported its net income dropped more than 30% for the first quarter of 2022, compared with the same quarter a year ago. Net income was $7.4 million, or 49 cents per diluted share, for the quarter ended March 31, compared with $11.1 Read More →
Assets and earnings up at American Riviera Bank
American Riviera Bank, based in Santa Barbara, reported net income of $3.2 million for the quarter ended March 31, a 23% increase over the same period last year. Net income for the first quarter totaled 61 cents per share, compared with 50 cents per share a year earlier, according to the earnings statement the bank Read More →
Citizens Business Bank reports decline in income for Q1
CVB Financial, the parent of Citizens Business Bank, reported net income of $45.6 million, or diluted earnings per share of 31 cents, for the first quarter ended March 31. Citizens Business Bank is based in Ontario, California, and four locations in Ventura County and one in Santa Barbara. In earnings reported April 20, the bank Read More →
Loans slow down but deposits grow at Community Bank of Santa Maria
Total assets and deposits at Community Bank of Santa Maria grew in the first quarter of the fiscal year, even as new loans and net income decreased, the bank announced April 18. Community Bancorp of Santa Maria, the holding company for Community Bank of Santa Maria, reported its total assets rose to $411.4 million by Read More →
PennyMac lays off workers as mortgage boom fades
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