A Santa Maria produce broker and farmer has filed for Chapter 7 bankruptcy with about $1 million in assets and $9 million in liabilities as his family companies sue the region’s largest bank on allegations that it failed to come through on millions of dollars in promised loans.
Sierra Bancorp is placing a $15.3 million bet on the agricultural bounty of Ventura County. The Porterville-based parent company of Bank of the Sierra said July 17 that it is purchasing Santa Paula-based Santa Clara Valley Bank in an all-cash deal that includes three branches and $105 million in deposits. The deal gives the Central Read More →
Santa Paula-based Santa Clara Valley Bank is being acquired by Sierra Bancorp for $15.3 million in an all-cash deal announced July 17. The Ventura County bank operates branches in Fillmore, Santa Paula and Valencia. With assets of about $127 million, the bank is the second-smallest bank headquartered in the Tri-Counties.
A Santa Maria strawberry grower’s lawsuit alleging that Heritage Oaks Bank’s failure to provide financing after promising to do so drove the grower into near-bankruptcy is headed to trial later this month.
Shares of Thousand Oaks-based energy crop firm Ceres were up 8 percent in midday trading on news that the company inked a deal to monetize its genome viewing software through a deal with Bayer CropScience.
Apeel Sciences has raised $1.3 million and is working on a new product for flower growers to complement its existing efforts to prevent fruit and produce losses to pests and spoilage.
Jurgen Gramckow is one of a few Ventura County raspberry growers who are making the crop one of the county’s highest-grossing agricultural products.