Phillips 66 appeals denial of crude-by-rail expansion project
In a move many expected, Phillips 66 appealed the San Luis Obispo County Planning Commission’s denial of its proposed crude-by-rail expansion project at its Santa Maria Refinery. The commission narrowly voted down the proposal 3-2 after months of discussion and public comment, ultimately siding with staff’s recommendation. The potential harm of a derailment and the Read More →
Doctor buys Thousand Oaks property for medical clinic
Orthopedic 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
Channel 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
Santa 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 →
Freeport-McMoRan selling onshore Central Coast oil and gas properties
Freeport-McMoRan will sell its onshore California oil and gas properties, which include several facilities throughout the Central Coast, to Sentinel Peak Resources California LLC for a total of $742 million, according to SEC filings. The deal includes $592 million in cash and an additional $50 million per year in 2018, 2019 and 2020 if the Read More →
Amgen to pay $1 quarterly dividend
Thousand Oaks-based biotech giant Amgen announced another quarterly dividend of $1 per share Oct. 14 for the fourth quarter of 2016. The dividend will be paid on Dec. 8, 2016, to all stockholders of record as of the close of business on Nov. 16, 2016. • Contact Philip Joens at [email protected].
OCB Bancorp loan portfolio hits $200 million mark
OCB Bancorp — parent company of Ojai Community Bank, Santa Barbara Community Bank, Ventura Community Bank and Santa Paula Community Bank — has eclipsed a $200 million loan portfolio, the company recently announced. As its loan portfolio has grown at around 30 percent to 35 percent annually over the past several years, OCB Bancorp now has Read More →
