January 29, 2023
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A summer that changed everything


Grab the nearest calendar. Find a sharpie.

Put a big thick line through August 2010.

For those of us who are neurotic enough to follow the banking game, we are witnessing a once-in-a-decade event: A complete realignment of financial services in the tri-county region.

The collapse of Los Padres Bank and its sale to Pacific Western, along with the $500 million recapitalization of Pacific Capital Bancorp, expected to close Aug. 31, are enough to tilt the landscape. But add to that a major capital raise at Heritage Oaks bank and expansion moves at U.S. Bank and Rabobank — plus the pending acquisition of California Oaks State Bank by California United and a host of other moves up and down the coast — and you have nothing less than a total makeover.

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