Community Bank of Santa Maria CEO picked for Fed advisory board
Janet Silveria, the president and CEO of Community Bank of Santa Maria, has been selected as a member of the Federal Reserve’s Community Depository Institutions Advisory Council. The 12-member council was established by the Federal Reserve’s Board of Governors in 2010 to give the board input on the economy, lending conditions and other issues that Read More →
Inogen names new CEO
Inogen, a medical device company in Goleta that makes portable oxygen concentrators, named a new president and CEO on Jan. 27. Nabil Shabshab, 56, will lead the company starting Feb. 8, Inogen said. He has spent the last nine years with the medical technology company Becton Dickinson and Company, including the past three and a Read More →
Feds allocate $6.3 million to Ventura Harbor, Port of Hueneme
U.S. Army Corps of Engineers projects for the Port of Hueneme and Ventura Harbor will receive $6.3 million in federal funding, U.S. Rep. Julia Brownley announced Jan. 26. The money will be used for the annual dredging of Ventura Harbor and will allocate “donor port” funds for the Port of Hueneme, according to a news Read More →
Pacific Premier sees bump in income, assets in fourth quarter
Pacific Premier Bancorp’s net income rose in 2020 on the back of strong overall performance, causing the company to approve a new $150 million share repurchase program, the bank announced Jan. 26. The bank’s net income increased more than 63% from the previous year, going from $41.1 million in the fourth quarter of 2019 to Read More →
SLO’s Digital West acquired by Wave Broadband
Digital West, an internet service provider based in San Luis Obispo, is joining Wave Broadband in an acquisition announced by the two companies on Jan. 26. Wave Broadband is a larger telecommunications company serving over 450,000 customers, with operations in Oregon, Washington and California. Wave has specific ties to the central coast as well, already Read More →
Bank of the Sierra reports higher loan volume but income drop
Sierra Bancorp announced a slightly-lower net income when it released its fourth quarter 2020 earnings amid high deposit growth and record growth in loans and leases. The parent of Bank of the Sierra, which is based in Porterville but has 11 branches in the Tri-Counties, announced a fourth quarter net income of $9 million, or Read More →
State ups unemployment fraud estimate into tens of billions
At least 10% and perhaps as much as 27% of the unemployment benefits paid by the state of California during the pandemic were fraudulent, according to new report from the California Economic Development Department. The department processed 19.5 million claims and paid $114 billion in benefits between March 2020 and Jan. 16, 2021, according to Read More →
