American Riviera Bank reports income drop due to merger with Bank of Santa Barbara
American Riviera Bank reported a 17 percent decrease in unaudited net income in 2015 as the institution prepared for its merger with The Bank of Santa Barbara. American Riviera acquired The Bank of Santa Barbara in an all-stock deal valued close to $18 million, creating a “force to be reckoned with,” said Joanne Funari, the Read More →
County Commerce Bank shareholders OK merger with Citizens Business Bank
County Commerce Bank shareholders approved its proposed merger with Citizens Business Bank, which is expected to close on Feb. 29. “Citizens Business Bank’s philosophy and business model is very similar to ours and is the perfect fit for County Commerce Bank, and most importantly, our customers and employees. We are excited to be partnering with Read More →
Montecito Bank & Trust profits up 21 percent in 2015
Santa Barbara-based Montecito Bank & Trust reported net income of $15.9 million for 2015, up from $13.1 million in 2014. Total gross loans grew 17 percent year-over-year, totaling $711 million on Dec. 31. Total assets were up $53 million in 2015 to $1.2 billion. Total deposits increased 4.5 percent to $1.1 billion, up $48 million. Read More →
Community West Bancshares fourth-quarter income down from previous year
Community West Bancshares, parent company of Community West Bank headquartered in Goleta, reported a net income of $1.9 million for the fourth quarter of 2015, down from $2.2 million the previous year. For the full year, Community West reported net income of $2.9 million, down from $7 million in 2014. Excluding the $7.1 million net Read More →
VC Credit Union maps expansion
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Citizens Business Bank fourth quarter earnings up over last year’s
Ontario-based Citizens Business Bank reported $28.6 million in net earnings for the fourth quarter of 2015, or 27 cents a share. That was up $3 million from the fourth quarter of 2014. For the year, net earnings were $99.1 million, or 93 cents per share. That was down $4.9 million, or 4.69 percent, from the Read More →
San Francisco Federal Reserve Bank CEO says he’s bullish on U.S. economy at Santa Barbara event
All in all, things are looking good for the U.S. economy, Federal Reserve Bank of San Francisco President and CEO John Williams said in Santa Barbara the morning of Jan. 8. Despite China’s market uncertainty and the global volatility, Williams doesn’t expect that to have a major impact on the U.S. economy. He pointed Read More →
