PCBC stems capital bleed despite loss
By Pacific Coast Business Times Staff / Monday, November 9th, 2009 / Top Stories / Comments Off on PCBC stems capital bleed despite loss
Applying a tourniquet to its worst bleeding and quelling any immediate concerns over its survival, Santa Barbara-based Pacific Capital Bancorp lost $40.7 million in the third quarter but held its capital position steady. Federal regulators are keeping a close eye on capital levels at Pacific Capital, the parent of Santa Barbara Bank & Trust and the Read More →
Follow the stimulus
By Pacific Coast Business Times Staff / Monday, November 9th, 2009 / Top Stories / Comments Off on Follow the stimulus
Stimulus dollars have poured into the Tri-Counties since President Obama signed the American Recovery and Reinvestment Act into law in February, with hundreds of millions of dollars in government grants and business contracts being divvied up among businesses and agencies throughout the region. But whether all those taxpayer dollars have had an effect, in terms Read More →
Area auto dealers stave off slow sales
By Pacific Coast Business Times Staff / Monday, November 2nd, 2009 / Top Stories / Comments Off on Area auto dealers stave off slow sales
For someone driving along Highway 101 in Ventura County, it might look like the auto industry is still running on fumes. It’s easy to misinterpret the big, empty lots on either side of the freeway as a sign of dwindling business, but a few dealers beg to differ. Kevin Todey owns and operates three dealerships: Read More →
Where sales are hot
By Pacific Coast Business Times Staff / Monday, November 2nd, 2009 / Top Stories / Comments Off on Where sales are hot
Sales are taking off at Hi-Temp Insulation. The Camarillo company makes heat shielding and soundproofing for the aircraft and spacecraft industries. Its products protect against fires in the engines of Boeing 777s, wrap U.S. missiles in blankets to keep them warm in Alaskan silos and prevent the space shuttle’s wings from burning up when it re-enters Read More →
Ventura County Business Bank spars over property
By Pacific Coast Business Times Staff / Monday, November 2nd, 2009 / Top Stories / Comments Off on Ventura County Business Bank spars over property
A Ventura County lender is accusing the second-biggest bank in Los Angeles of mismanaging a real estate deal that may have given a U.S. congressman a $3 million discount on a foreclosed property. Oxnard-based Ventura County Business Bank sued Pasadena-based East West Bank in Ventura County Superior Court on Sept. 14 demanding to know more Read More →
Granada leasing is tall order
By Pacific Coast Business Times Staff / Monday, October 26th, 2009 / Top Stories / Comments Off on Granada leasing is tall order
Santa Barbarans like to think they live the good life. They feel like they’re on top of the world. And now they have the chance to claim space atop the city’s tallest building. The Granada Theatre spent the past few years wrapped in a cocoon of scaffolding and tarps before emerging as a fully restored Read More →
Small banks caught in regulation crackdown
By Pacific Coast Business Times Staff / Monday, October 26th, 2009 / Top Stories / Comments Off on Small banks caught in regulation crackdown
[Editor’s note: A clarification regarding Community West Bank’s profits has been added at the bottom of the story.] Two banks with tri-county operations have received orders from federal regulators to raise capital. The parent companies of Solvang-based Los Padres Bank and Woodland Hills-based Western Commercial Bank both now face a series of deadlines to boost Read More →
