American Riviera Bank reports benefits of merger with The Bank of Santa Barbara
Santa Barbara’s American Riviera Bank reported net income of $176,000 or 4 cents per share for the first quarter of 2016, compared to $443,000 or 17 cents per share for the same period in 2015. Operating income excluding costs related to the merger with The Bank of Santa Barbara for the first quarter of 2016 Read More →
Net earnings up 47.7 percent at Citizens Business Bank
Ontario-based Citizens Business Bank reported a 47.7 percent increase in net earnings for the first quarter of 2016. CVB Financial Corp. and its subsidiary Citizens Business Bank reported a $23.4 million net income, or 22 cents a share, up from $15.8 million in the first quarter of 2015. It was an increase of $7.6 million Read More →
Ponzi scheme costs ATM investors $125M
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City National Bank opens Westlake Village office
City National Bank announced on April 7 the opening of its new Westlake Village office. The subsidiary of Toronto-based Royal Bank of Canada has been steadily growing its retail, commercial and wealth management presence in Ventura County. Its new 2,700-square-foot office at 3027 Townsgate Road will serve clients in Westlake and surrounding communities in Los Angeles Read More →
Heritage Oaks Bank president retiring
Paso Robles-based Heritage Oaks Bank announced the retirement of President and Chief Banking Officer Rick Arredondo on March 28. Arredondo, who joined the bank in early 2015, said he is retiring to pursue other interests but did not specify further. Simone Lagomarsino, president and CEO of the bank’s parent company, Heritage Oaks Bancorp, will reassume Read More →
Change bankers’ incentives to get big
By Bill Watkins In popular culture, there are “good” industries and “evil” industries. Oil has held the most hated position of the evil list for generations and is likely to hold it until there is no more oil. Farming, once solidly on the good list, is moving to the evil list because its critics Read More →
Montecito Bank & Trust gives $20,000 to region’s nonprofits
Santa Barbara-based Montecito Bank & Trust handed out $20,000 in grants to 10 of the region’s nonprofits to celebrate the bank’s 41st anniversary. For the past 24 years, the largest financial institution headquartered in Santa Barbara County has offered financial aid to nonprofits handpicked by its staff. MB&T held its annual celebration on March 17 Read More →
