Velocity reports earnings growth, strong loan demand
Banking & Finance, Banking Industry, Earnings, East Ventura County, Latest news, Real Estate, Tri-County Economy, Tri-County Public CompaniesVelocity Financial saw its net income spike when it reported its first quarter financial earnings on May 6. The Westlake Village-based real estate financial company recorded a net income of $3.4 million and core income of $6.72 million, or 10 cents and 20 cents per diluted share. In 2020, the company had a net income Read More →
Salem Media Group back in the black for first quarter
Banking & Finance, Earnings, Latest news, Tri-County Economy, Tri-County Public Companies, West Ventura CountySalem Media Group announced growing revenue, declining costs and a reversal of last year’s losses when it released its first quarter financial earnings on May 6. The Irving, Texas-based conservative media company, which retains significant operations at its former headquarters in Camarillo, had $300,000 in net income for the quarter, or 1 cent per diluted Read More →
PennyMac earnings up as mortgage boom continues
Banking & Finance, Banking Industry, Earnings, East Ventura County, Latest news, Real Estate, Tri-County Economy, Tri-County Public CompaniesPennyMac Financial Services reported a higher net income and revenue in the first quarter, as well as a cash dividend, when it announced its latest earnings on May 6. The Westlake Village-based mortgage lender and loan servicer recorded net income of $376.9 million, or $5.15 per share, on revenue of $944.7 million. For the first Read More →
Montecito Bank & Trust tops $2B in assets
Banking & Finance, Banking Industry, Latest news, South Coast, Tri-County EconomyMontecito Bank & Trust’s assets grew by almost half a billion dollars in the past year, with strong deposit and loan growth, the bank said in its May 6 first-quarter earnings release. The Santa Barbara-based bank is the largest financial institution based in the tri-county region. Its assets topped $2 billion at the end of Read More →
Lori’s Lemonade wins gold
Latest news, Small Business, Top Stories, Tri-County Economy, West Ventura CountyLavender Lemonade, a product by Ventura-based Lori’s Original Lemonade, won a gold award in the Specialty Food Association’s 2021 sofi Awards. The lemonade was one of 130 winners across 49 categories, announced May 5. There were almost 1,500 entrees, and the entrees were judged in an anonymous sampling for taste, ingredient quality and innovation. Lori Read More →
Fienup: A long road to get economy out of ‘crisis mode’
East Ventura County, Latest news, Tri-County Economy, West Ventura CountyVentura County’s economy was in a rougher place than previously understood when the pandemic started, and rebuilding it in a way that benefits everyone is going to take a lot of careful work. That was the message from Matthew Fienup, the executive director of the Center for Economic Research and Forecasting at California Lutheran University, Read More →
Community West earnings nearly double in first quarter
Banking & Finance, Banking Industry, Earnings, Latest news, South Coast, Tri-County Economy, Tri-County Public CompaniesCommunity West Bancshares saw its net income rise by almost 90% year-over-year as it decreased its provision for loan losses and increases its dividends. The Goleta-based parent company of Community West Bank released its first quarter earnings on May 3, including $3 million in net income for the quarter, or 35 cents per diluted share. Read More →
