Angelo Mozilo, former CEO of Countrywide Financial, dies at 84
Angelo Mozilo, a co-founder and former CEO of Countrywide Financial, died on July 16 of natural causes, his son, Mark, confirmed on July 17. Mozilo was 84 years old. Countrywide Financial is now known as Bank of America’s home loans branch after being purchased following the 2008 financial crises which saw Countrywide sell for a Read More →
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Community Bank of Santa Maria notes key increases in second quarter
The Community Bank of Santa Maria announced its earnings for the second quarter on July 10, finding that it had recorded increases in net income and net loans. In the second quarter, the bank saw net income increase 50.7% year-over-year to $1.3 million. Similarly, net loans increased 8.9% from the second quarter of last year Read More →
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Montecito Bank remains “well-capitalized” after the first quarter
Montecito Bank & Trust reported a 30% increase in net income for the first quarter of 2023 on June 6, even despite a drop in total deposits. Montecito Bank & Trust generated $4.8 million in the first quarter while assets closed at $2.1 billion. According to the bank, it remains well-capitalized as its total risk-based Read More →
