Dubroff: Montecito Bank & Trust beefs up management team with Leis
Montecito Bank & Trust wrote the latest chapter in the saga of regional banking when it announced late July 18 that it was adding Union Bank’s veteran leader George Leis to its executive team. Leis, who chairs the CSU Channel Islands Foundation board, becomes chief operating officer reporting to President and CEO Janet Garufis. His Read More →
Santa Barbara’s Pensionmark adds affiliate in New York
Santa Barbara-based Pensionmark Retirement Group added an affiliate office in New York. Pensionmark is a financial retirement planning and executive compensation consulting firm. The New York-based Ridge Retirement Consultants and its team of four advisers will join the Pensionmark’s Adviser Support Program. Ridge Retirement has nearly 50 corporate clients and $1.7 billion in assets under Read More →
Citizens Business Bank second quarter net income down from 2015
CVB Financial Corp. and its subsidiary Citizens Business Bank reported $25.5 million net income for the second quarter of 2016, or 23 cents per share. That was down from $26.8 million for the second quarter of 2015, or 25 cents per share. Citizens Business Bank completed the integration of County Commerce Bank in the second Read More →
Lockheed Martin second quarter earnings beat analyst estimates
Lockheed Martin revenues increased slightly and the company beat analyst estimates when it reported second quarter earnings results July 19. Lockheed Martin said sales increased during the quarter from $11.6 billion during the same quarter in 2015 to $12.9 billion in 2016. Earnings per share increased from $2.94 to $3.32 per share over the same Read More →
Montecito Bank & Trust hires Leis to be COO
Updated at 8:10 p.m.: Montecito Bank & Trust, one of the largest privately-owned banks in California, has hired veteran Union Bank executive George Leis to join its executive team. Effective July 19, Leis will become chief operating officer reporting to President and CEO Janet Garufis. He’ll oversee the bank’s lending, retail and business banking activities Read More →
Ceres third-quarter revenue up, losses down
Thousand Oaks-based ag-biotech company Ceres Inc. released third quarter results in documents filed with the Securities and Exchange Commission July 15. Ceres said revenues increased from $1.1 million during the third quarter of 2015 to $1.4 million during the third quarter of 2016. Net losses decreased from $5.9 million, or 98 cents per share, last Read More →
Bank of the Sierra completes acquisition of Coast National Bank
Sierra Bancorp, holding company of Bank of the Sierra, has completed its acquisition of Coast Bancorp of San Luis Obispo County. Coast Bancorp shareholders received approximately $13.5 million — $3.3 million in cash and the balance in Sierra Bancorp stock. Coast Bancorp’s wholly-owned subsidiary, Coast National Bank, was merged into Sierra Bancorp’s wholly-owned subsidiary, Bank Read More →
