Merger pays off for American Riviera Bank
Banking & Finance, Banking Industry, Earnings, Latest newsAmerican Riviera Bank reported sharply higher profits and deposits for the third quarter as the benefits of its merger with the Bank of Santa Barbara late last year are becoming evident. American Riviera said Oct. 25 that net income was $1.4 million for the quarter ended Sept. 30 or 32 cents per share versus 5 Read More →
Sientra CFO resigns, new CFO named
Health Care & Life Science, Latest newsEmbattled-breast implant manufacturer Sientra said in a news release Oct. 27 that Chief Financial Officer Matthew Pigeon stepped down from his position “to pursue other opportunities.” Patrick Williams, who most recently served as CFO of Pleasanton-based ZELTIQ Aesthetics from November 2012 until this past April, will fill Pigeon’s roll as CFO at Sientra. Williams also Read More →
MindBody revenues grew 35 percent in third quarter
Earnings, Latest news, Technology, Tri-County Public CompaniesMindBody continued on its path to profitability during the third quarter as revenues grew 35 percent. Revenues increased from $26 million during the same quarter of 2015 to $35.2 million in 2016. Net losses also decreased 39 percent from $9.62 million in 2015 to $5.89 million in 2016. Chief Financial Officer Brett White said on Read More →
Dignity Health plans merger with Catholic Health Initiatives
Health Care & Life Science, Latest newsSan Francisco-based Dignity Health plans to merge with Colorado-based Catholic Health Initiatives in a deal that would combine a couple of the largest nonprofit providers in the country, Dignity announced on Oct. 24. Dignity Health owns five hospitals in the Tri-Counties, including Arroyo Grande Community Hospital, French Hospital Medical Center in San Luis Obispo, St. Read More →
Doctor buys Thousand Oaks property for medical clinic
Health Care & Life Science, Latest news, Real EstateOrthopedic and sports medicine specialist Dr. Greg Tchejeyan purchased the 250 Lombard St. property in Thousand Oaks for $1.6 million, Westcord Commercial Real Estate announced Oct. 20. The 4,800-square-foot office space was previously owned by the construction firm Wesley Thomas. Tchejeyan will relocate his practice from Los Robles Medical Center and redevelop the space into Read More →
Channel Technologies files for bankruptcy protection
Latest news, TechnologyChannel Technologies, a Santa Barbara-area ceramic components maker that built products used in the Navy’s sonar gear for decades, has filed for bankruptcy protection amid losses on long-term contracts. The company was expected to lose $11.6 million this year on around $30 million in revenue as it struggled to meet the terms of contracts it Read More →
Montecito Bank & Trust net income down but loan, deposit growth strong
Banking Industry, Earnings, Latest news, Tri-County Public CompaniesSanta Barbara-based Montecito Bank & Trust reported $10.9 million of net income in the third quarter, down from $12.2 million over the same period last year, but had strong loan and deposit growth. In 2016, MB&T discontinued reversals of excess loan loss reserves to support loan growth, which is reflected in the reduced year-to-date net Read More →
