Pacific Western Bank reports income dip
Los Angeles-based PacWest Bancorp — the parent company of Pacific Western Bank, a bank with 13 branches in the tri-county region — announced a drop in net earnings from last year with net income of $122.2 million, or $1.02 per diluted share, for the third quarter of 2022. In the same quarter last year, the Read More →
Citizens Business Bank reports earnings growth
CVB Financial Corp., the parent company of Citizens Business Bank, reported net income of $64.6 million for the third quarter ended June 30, an increase from $49.7 million in the same quarter a year ago. Diluted earnings per share were 46 cents for the third quarter of 2022, compared to 37 cents for the same Read More →
Real Estate: L.A. firm buys Ventura complex, hints at more purchases to come
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Lease auction set for Morro Bay wind farm
In a little more than six weeks, more than 40 companies will bid on the first-ever offshore wind lease sale on the West Coast, competing for the right to build floating offshore wind farms off the coast of Morro Bay and elsewhere. The U.S. Department of the Interior announced Oct. 18 that the Bureau of Read More →
Olaplex shares plummet after company cuts guidance
Shares of Montecito-based Olaplex dropped more than 50% on Oct. 19 after the hair care products company slashed its revenue guidance for the full 2022 fiscal year fiscal. Olaplex shares closed at $4.24 on Oct. 19, down 56.7% from the previous day’s close. The company released preliminary third quarter earnings on Oct. 18, with executives Read More →
ExxonMobil buys damaged Plains All American oil pipeline
For more than seven years, ExxonMobil has left its oil in the ground off the coast of Santa Barbara County, with no way to transport it since the rupture of Plains All American’s pipeline near Refugio State Beach. Now ExxonMobil will take a shot at moving the oil itself, after purchasing the broken pipeline from Read More →
Merger of U.S. Bank and Union Bank gets final U.S. approval
U.S. Bank’s $8 billion acquisition of Union Bank has the green light from U.S. regulators, a big step forward for a deal that could make U.S. Bank one of the biggest retail banking companies in the tri-county region. The deal received its final U.S. regulatory approvals on Oct. 14, more than a year after it Read More →
