Ventura County Business Bank gives hope to area banks
It might be the understatement of the decade to say that raising capital has been extremely difficult for area banks.
But in a very difficult environment, President Jerry Lukiewski at Ventura County Business Bank has found a way to increase his bank’s capital and perhaps set the stage for the acquisition of assets or other banking enterprises.
With two financial institutions — Banco BuenaVentura and Affinity Bank — recently removed from Ventura County’s banking scene, it’s heartening to see one getting new funding to ride out the recession.
That will put a bit more capital to work to help area small businesses ride out the recession, too.
There’s still more upheaval to come in the area’s banking scene, which should aid well-established institutions such as Ventura’s County Commerce Bank, Montecito Bank & Trust and others.
But things won’t really find their way to a new normal until regulatrs begin to loosen the very tight reigns that federally insured institutions have been operating under for the better part of the past year.