December 11, 2024
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Montecito Bank & Trust
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MB&T chief highlights role of community banks

By   /  Friday, September 6th, 2013  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on MB&T chief highlights role of community banks

Locally based banks that take deposits from and make loans to the community form the lifeblood of many regional economies, and yet these institutions have only recently secured a voice in the national debate on financial policy. That was the view from Janet Garufis, CEO and president of Santa Barbara-based Montecito Bank & Trust, in Read More →

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Small-business groups can match banks, borrowers

By   /  Friday, September 6th, 2013  /  Banking & Finance, Banking Industry, Small Business, Top Stories  /  Comments Off on Small-business groups can match banks, borrowers

Business is as much about who you know as what you know.

Long-time art gallery owner Sylvia White came to realize that as she struggled to get financing to purchase a building in downtown Ventura. She had purchased the gallery space with owner financing several years earlier. But now the five-year period on that high-interest loan was coming up, and White needed a bank to take over. She was turned down by lenders again and again.

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Make It Work creditors demand $150K from defunct firm

By   /  Friday, July 26th, 2013  /  Banking & Finance, Banking Industry, Law & Goverment, Technology, Top Stories  /  Comments Off on Make It Work creditors demand $150K from defunct firm

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Ventura County Business Bank investors sue over stock sale, merger

By   /  Friday, July 5th, 2013  /  Banking & Finance, Banking Industry, Law & Goverment, Top Stories  /  Comments Off on Ventura County Business Bank investors sue over stock sale, merger

Investors in Ventura County Business Bank, a small commercial lender that was acquired by Royal Business Bank in 2011, are suing its new owners and former executives, alleging fraud and misrepresentation. The plaintiffs — Mark Engle, Paul Turley, Mark Ioele, Ronnie Case, Dennis McCarty, Kuen Sil Park, Holger Blank and Farihan Uwaydah — allege that Read More →

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Credit unions ride membership surge to higher profits, assets

By   /  Friday, June 21st, 2013  /  Banking & Finance, Banking Industry, Top Stories  /  Comments Off on Credit unions ride membership surge to higher profits, assets

The region’s credit unions, increasingly the go-to financial institutions for consumers, are seeing a broad-based surge in earnings and assets. Out of the the five consumer credit unions based in the Tri-Counties, the largest three saw their earnings jump last year compared to 2011, while all five also saw their assets increase. At Ventura County Read More →

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$243M merger comes with fine, branch closures

By   /  Friday, June 7th, 2013  /  Banking & Finance, Banking Industry, Top Stories, Tri-County Economy, Tri-County Public Companies  /  Comments Off on $243M merger comes with fine, branch closures

PacWest Bancorp’s contentious acquisition of First California Bank has closed but the dust hasn’t settled yet on the $243 million merger. As the deal was sealed, the banks announced that federal regulators had ordered First California to pay a $600,000 fine and set up $1.1 million in restitution to more than 64,000 consumers who had Read More →

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FCAL ordered to pay fine, set up $1.1M restitution fund for prepaid card users

By   /  Friday, May 31st, 2013  /  Banking & Finance, Banking Industry  /  Comments Off on FCAL ordered to pay fine, set up $1.1M restitution fund for prepaid card users

Westlake Village-based First California Financial Group has agreed to pay a $600,000 fine and set up $1.1 million in restitution to more than 64,000 consumers who used its prepaid debit card products. The announcement from the Federal Deposit Insurance Corp. comes on the day that Los Angeles-based PacWest Bancorp’s $237 million acquisition of First California Read More →