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Montecito Bank & Trust
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Big California banks see 2011 earnings bounce

By   /  Friday, January 27th, 2012  /  Banking & Finance, Banking Industry, Personal Finance, Top Stories  /  Comments Off on Big California banks see 2011 earnings bounce

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First California reports record 2011 earnings of $23.4M

By   /  Thursday, January 26th, 2012  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on First California reports record 2011 earnings of $23.4M

[wikichart align=”right” ticker=”NASDAQ:FCAL” showannotations=”true” livequote=”true” startdate=”26-07-2011″ enddate=”26-01-2012″ width=”300″ height=”245″] Westlake Village-based First California Financial Group reported profits of $23.4 million in 2011, a company earnings record. A year earlier, it had earned $1.4 million. “Our record breaking performance in 2011 was driven by the combination of continued successful execution of our strategic plan that focuses Read More →

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Coast National snatches former Mission CEO

By   /  Friday, January 20th, 2012  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Coast National snatches former Mission CEO

Anita Robinson, the former CEO of Mission Community Bank, has moved to San Luis Obispo-based Coast Bancorp, parent of Coast National Bank. Her move comes two months after Mission announced that Robinson, the founding CEO of that bank, would be reassigned to head up its community development subsidiary. Coast is a four-branch bank with $135.6 Read More →

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Bank moves to seize Saabs at port

By   /  Friday, January 13th, 2012  /  Banking & Finance, Banking Industry, Top Stories  /  Comments Off on Bank moves to seize Saabs at port

A bank backed by Uncle Sam is suing to seize a stash of Saab vehicles at the Port of Hueneme as the iconic Swedish car brand heads for the sunset. Ally Financial, a bank three-quarters owned by the U.S. Treasury, wants court approval to take control of 151 vehicles being stored at the port by Read More →

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California Republic buys Westlake bank branch

By   /  Thursday, January 12th, 2012  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on California Republic buys Westlake bank branch

Newport Beach-based California Republic Bank has purchased the Westlake Village branch of National Bank of California, saying it wants to use the new location as a foothold for expanding into the Ventura County market. Terms of the sale were not disclosed, but the two banks previously said the deal would include the branch and $16.2 Read More →

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Forecast: Businesses, banks look for new models

By   /  Friday, January 6th, 2012  /  Banking & Finance, Banking Industry, Top Stories, Tri-County Economy  /  Comments Off on Forecast: Businesses, banks look for new models

The Tri-Counties starts 2012 with six fewer local banks than it had before the start of the financial crisis, and the local economy continues to stutter through a broader recovery. But area economists and finance insiders say the region is doing better than the rest of California, boosted by its tourism and technology sectors, and Read More →

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Mission pays off TARP

By   /  Thursday, January 5th, 2012  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Mission pays off TARP

Mission Community Bancorp has repaid the $5.1 million in federal bank rescue funds it took at the height of the financial crisis. The San Luis Obispo-based company said Jan. 4 that it had paid $5.1 million from the Troubled Asset Relief Program to the U.S. Treasury, including $30,554 in accrued and unpaid dividends. “The capital Read More →