Montecito Bank reports growth in assets, drop in loans for Q1
Montecito Bank & Trust’s assets increased more than 14% in the year ended March 31, with “strong” deposit growth, the bank said in its May 2 first-quarter earnings release. The Santa Barbara-based bank, the largest financial institution based in the tri-county region, said its total assets rose $302.45 million, closing at $2.39 billion, at the Read More →
Income grows at Community West Bank as PPP loans phase out
Net income for Goleta-based Community West Bancshares increased more than 31% for the quarter ended March 31, to $4 million, or 45 cents per diluted share, the company announced April 29. The holding company for Community West Bank reported net income of $3 million, or 35 cents per diluted share, for the same period last Read More →
LTC reports slight increase in income for Q1
Westlake Village-based LTC Properties saw its net income and total assets rise in the first quarter compared to a year earlier, the company said in its April 28 earnings release. For the three months ended March 31, LTC had net income of $14.3 million, or 36 cents per diluted share, up from $13.6 million, or Read More →
Amgen shares drop after earnings release and disclosure of $5B tax dispute
When Thousand Oaks-based Amgen released its financial results for the first quarter of 2022 on April 27, the biggest surprise didn’t come from its dip in net profits or rise in revenue, but from a tax dispute with the Internal Revenue Service. Amgen said it received a notice of deficiency from the IRS on April Read More →
Teledyne reports record revenue, earnings beat in Q1
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Bank of the Sierra reports drop in income
Sierra Bancorp, a Porterville-based banking company with nine branches in the Tri-Counties, reported its net income dropped more than 30% for the first quarter of 2022, compared with the same quarter a year ago. Net income was $7.4 million, or 49 cents per diluted share, for the quarter ended March 31, compared with $11.1 Read More →
Assets and earnings up at American Riviera Bank
American Riviera Bank, based in Santa Barbara, reported net income of $3.2 million for the quarter ended March 31, a 23% increase over the same period last year. Net income for the first quarter totaled 61 cents per share, compared with 50 cents per share a year earlier, according to the earnings statement the bank Read More →
