Bank of the Sierra acquiring Ojai Community Bank
Banking & Finance, Banking Industry, Latest newsBanking industry consolidation on the Central Coast picked up speed on April 25 with the parent company of Bank of the Sierra announcing plans to acquire OCB Bancorp and its four branches in Santa Barbara and Ventura counties. The $14 per share acquisition sent OCB Bancorp shares soaring more 50 percent and marks the latest Read More →
Murdock files for $100 million IPO at Dole Food
Agribusiness, East Ventura County, Latest newsAgribusiness giant Dole Food, the tri-county region’s largest private company, filed for an initial public offering of up to $100 million with the Securities and Exchange Commission on April 24. Owner David Murdock, 94, is taking the company public for the third time. He ranks fourth on the Pacific Coast Business Times Region’s Richest list, Read More →
Montecito Bank & Trust reports growth in assets, loans, deposits and income
Banking & Finance, Banking Industry, Earnings, Latest news, South CoastMontecito Bank & Trust’s total assets grew by $68.1 million to $1.3 billion in the prior 12-month period, according to a quarterly report released April 20. The bank also reported loan growth of $155 million and increased deposits by 7.34 percent. The bank also reported that its net income for the period grew 28 percent Read More →
Carpinteria software company Procore opening office in Australia
Latest news, South Coast, Technology, Tri-County Public CompaniesConstruction software company Procore, based in Carpinteria, has opened a new office in Sydney, Australia. The addition of the new location is a response to high demand in Australia and New Zealand, the company said in a news release April 20. Its customers have reached more than 100 in the region, with more than 50,000 Read More →
American Riviera Bank reports strong growth
Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public CompaniesSanta Barbara-based American Riviera Bank showed strong growth for the first quarter of 2017, posting an unaudited net income of $956,000 or 22 cents per share. The rise represents a 426 percent increase from the $182,000 or 4 cents per share reported for the first quarter ended March 31, 2016. The growth is the latest Read More →
Wealth manager, baseball player Lon Morton dies at 72
Latest news, Personal FinanceStory updated at 10:50 a.m. April 20: Lon Morton, a former minor league baseball player who pioneered the field of investing in alternative assets, has died. He was 72. Morton founded Morton Capital Management in the early 1980s, helping wealthy investors diversify their holdings with real estate and other forms of assets that provided stable Read More →
Data breach hit tri-county hotels in September
Latest news, TourismHoliday Inn Express Hotels in Santa Barbara, Lompoc, Atascadero and Solvang were part of a security breach that affected 1,200 InterContinental Hotels Group locations beginning Sept. 29, 2016, the company announced April 14. IHG said it hired a cyber security firm to conduct an investigation into the breaches in February, which identified malware intended to Read More →
