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By Staff Report / Monday, January 25th, 2010 / Latest news / Comments Off on Los Padres Bank shores up capital levels
After months of struggling with capital ratios, Harrington West Financial Group, parent company of Solvang-based Los Padres Bank, has escaped a regulatory action that can precede a seizure and returned to “adequately capitalized,” the bank said Jan. 25. The bank remains under a longer-term cease and desist order to raise capital ratios. Harrington West had Read More →
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By Pacific Coast Business Times Staff / Monday, January 25th, 2010 / Opinion / Comments Off on Westmont neglected as donor defaults on $75M
By any account, $75 million is a lot of money. If you are a small, Christian college laboring with recovery from a major fire and an ambitious expansion plan, it’s an enormous amount of money. Which is why the report in this issue of the Business Times that Westmont College’s mystery donor won’t be able Read More →
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By Pacific Coast Business Times Staff / Monday, January 25th, 2010 / Opinion / Comments Off on Region shows compassion for Haiti
When tragedy strikes, our region steps up. That’s one of the truly remarkable things about living and working in the tri-county region. The Business Times takes some space on these pages to pay tribute to all the innovative ways our businesses and nonprofits have found to raise money for earthquake relief for Haiti. Rather than Read More →
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By Pacific Coast Business Times Staff / Monday, January 25th, 2010 / Top Stories / Comments Off on Donor in default on $75M gift
Stephen Adams, owner of Affinity Group in Ventura and former owner of the failed Affinity Bank, appears to have defaulted on his $75 million gift to Westmont College, slamming the brakes on the school’s most ambitious building project in a quarter century. Though Westmont could not confirm it, Adams is believed to be the man Read More →
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By Pacific Coast Business Times Staff / Monday, January 25th, 2010 / Top Stories / Comments Off on On an avocado Mission
Oxnard-based Mission Produce is turning almost as green as its avocados. The avocado and asparagus distributor, which pulled in $226 million in revenue last year, is seeing shades of green in its future — of both the energy and monetary variety. Sales are strong, and with worldwide avocado supply projected to increase in the next Read More →
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By Pacific Coast Business Times Staff / Monday, January 25th, 2010 / Top Stories / Comments Off on Investors hold breath as PCBC reports
With Pacific Capital Bancorp’s earnings call slated for Jan. 28, investors and analysts will be looking for clarity and answers now that the bank’s most likely fate is a merger. Failing that or a big infusion of capital, a regulatory seizure looms on the horizon. On Jan. 14, Pacific Capital, the parent of Santa Barbara Read More →
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By Pacific Coast Business Times Staff / Monday, January 25th, 2010 / Columns / Comments Off on NAI report: Ventura County has seen the worst of CRE woes
Ventura County’s office market is still reeling from the Countrywide collapse, according to a recently released NAI report. Office vacancy in the county is still up, and the NAI market report puts the number around 20 percent and notes that net absorption was negative through the third quarter of 2009. “Office space is tough Read More →
