F&M Trust hires new director to head fresh Santa Barbara office
A couple of months after Farmers & Merchants Bank of Long Beach announced its intention to grow its tri-county presence, Farmers & Merchants Trust company is doing the same thing with a new hire to head its fresh Santa Barbara office set to reopen next month.
Salvatore “Tory” Milazzo was appointed to be F&M Trust’s newest senior vice president, trust and investment manager, the organization announced on June 3.
Milazzo has long ties to the Santa Barbara community with over 20 years in wealth management in the region. Milazzo will head F&M Trust’s newly relocated Santa Barbara office, which is set to open in mid-July at 33 E. Carrillo Street.
According to a press release, Milazzo’s hiring, along with the upgraded office, “underscores FMTC’s commitment to delivering a client-focused experience and expanding its roots in Santa Barbara.”
Despite the office being in Santa Barbara, Milazzo’s role will be to lead FMTC’s trust and wealth management practices throughout the entire Central Coast region.
“What drew me to FMTC are the core values rooted in the Walker family legacy — integrity and service above self,” Milazzo said in a press release.
“They have a long history of white-glove service that sets FMTC apart and I’m proud to uphold that tradition at the new Santa Barbara office.”
Hailing from Alabama, Milazzo moved to Santa Barbara in 2008 with his family.
Milazzo previously worked as a director and investment executive for Union Bank and HighMark Capital Management in Santa Barbara.
Other ties to the area include serving as chair of the Santa Barbara Museum of Natural History Board and president of the St. Francis Foundation board.
“The Walker family is proud to have Tory join us and help carry forward our tradition of relationship-focused service,” FMTC Executive Vice President and COO Christine Walker-Bowman said in a press release.
“He offers valuable experience and a client-first mindset that aligns perfectly with our values. His strong ties in Santa Barbara embody the leadership we’re honored to have.”
The move comes after F&M Bank announced in late March that it would be aiming to grow its tri-county presence through the hiring of Nolan Nicholson as the bank’s first regional relationship manager of the Tri-County Region, encompassing San Luis Obispo, Santa Barbara and Ventura Counties.
Nicholson, who is the great-great-grandson of F&M Bank founder C.J. Walker and nephew of current Executive Chairman Daniel K. Walker and CEO W. Henry Walker, continues the tradition of Walker family leadership at the 118-year-old banking institution.
F&M Bank, which had total assets of $11.69 billion at the end of 2024, and F&M Trust operate as separate entities.
“However, we do work closely together to provide white-glove service for the needs of the community,” Nicholson told the Business Times in March.
F&M Bank has been lending in the Santa Barbara area since the late 1950s.
After Farmers and Merchants Trust Company successfully opened a Santa Barbara office in May 2018, several clients encouraged F&M Bank to open a branch as well, which it did later that year.
Since 2018, F&M Bank has been able to generate $600 million in commercial credit.
Such success has led to the bank continuing to grow its staff, which includes several concierge bankers supporting businesses and non-profits throughout the Central Coast.
“We have always been committed to investing in the communities in which we serve. We are especially proud to be able to invest in the local economy, bring jobs and extend our roots in Santa Barbara,” Nicholson said.
“We have delivered charitable contributions to support nonprofit organizations throughout the Tri-Counties. With F&M decision makers located right in the Tri-Counties, customers won’t need to wait for decisions from an offsite headquarters.”
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