Pacific Capital reports $28M loss, but Sept. profit
By Staff Report / Tuesday, November 9th, 2010 / Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies / Comments Off on Pacific Capital reports $28M loss, but Sept. profit
Editor’s Note: This story was updated at 4:50 p.m. Pacific Capital Bancorp lost nearly $28 million in July and August but said the first month under its new Texas owners was profitable. Texas-based private equity firm Ford Financial Fund acquired 86 percent of Pacific Capital for $500 million at the end of August. Pacific Capital Read More →
Banks in no rush to repay TARP money
By Marlize van Romburgh / Monday, November 8th, 2010 / Banking & Finance, Banking Industry, Top Stories / Comments Off on Banks in no rush to repay TARP money
Two years after the U.S. Treasury Department rolled out its Troubled Asset Relief Program, the federal rescue plan for banks, eight of the nine banks based in the Tri-Counties that took those funds have not yet repaid them. The one bank in the region that has repaid its TARP funds — Santa Barbara-based Pacific Capital Read More →
Pacific Capital gets delisting warning
By Staff Report / Wednesday, October 13th, 2010 / Banking & Finance, Banking Industry, Latest news, Tri-County Public Companies / Comments Off on Pacific Capital gets delisting warning
Pacific Capital Bancorp said in an Oct. 13 filing with the U.S. Securities and Exchange Commission that the Nasdaq stock market has told it to get its stock price back above $1 before April 6, 2011, or potentially be delisted. The Santa Barbara-based banking firm — the holding company for Santa Barbara Bank & Trust Read More →
Revisiting a bank acquisition, one year later: Bank of SB hits 54% asset growth
By Marlize van Romburgh / Monday, October 4th, 2010 / Banking & Finance, Banking Industry / Comments Off on Revisiting a bank acquisition, one year later: Bank of SB hits 54% asset growth
One of the Tri-Counties’ smallest banks has made a sizeable rebound in the 10 months since a team of Santa Barbara investors purchased it from its former Michigan parent. The Bank of Santa Barbara, which came under local ownership in November 2009, has seen deposits jump 80 percent year-over-year as assets climbed more than 54 Read More →
Cal Oaks deal puts small banks in play
By Marlize van Romburgh / Monday, September 6th, 2010 / Banking & Finance, Banking Industry, Top Stories / Comments Off on Cal Oaks deal puts small banks in play
The $17.3 million proposed merger of Thousand Oaks-based California Oaks State Bank and a larger San Fernando Valley bank may hint at what the community banking world will look like in the aftermath of financial overhaul. Many smaller banks, especially those with less than $500 million in assets, are looking to their neighbors or larger Read More →
Pacific Capital’s Ford infusion
By Stephen Nellis / Monday, May 10th, 2010 / Banking & Finance, Banking Industry, Top Stories, Tri-County Public Companies / Comments Off on Pacific Capital’s Ford infusion
Pacific Capital Bancorp’s $500 million rescue by a private equity firm would spread the pain among shareholders, debt holders and the U.S. Treasury. But it also spreads the upside if the bank recovers, and in the meantime it might be the only way to keep the Santa Barbara Bank & Trust name alive in the Read More →
