Montecito Bank remains “well-capitalized” after the first quarter
Montecito Bank & Trust reported a 30% increase in net income for the first quarter of 2023 on June 6, even despite a drop in total deposits. Montecito Bank & Trust generated $4.8 million in the first quarter while assets closed at $2.1 billion. According to the bank, it remains well-capitalized as its total risk-based Read More →
Limoneira posts higher revenue in second quarter
Santa Paula-based Limoneira announced its results for the second quarter after the markets closed June 6, highlighting a rise in revenue as well as a lower net debt position. Limoneira, a grower of lemons and avocados, announced revenue worth $48.1 million compared to $46.8 million in the same quarter a year ago. The company suffered Read More →
Ventura County supplier sues Volkswagon
A Camarillo-based electronics firm has sued Volkswagen AG in Ventura County Superior court in a breach of contract case that brings to light the severe shortage of computer chips that automakers were facing last fall. In its complaint, Data Exchange Corp., or DEX, alleges it agreed to supply some 4,500 computer chips, known as SAK Read More →
Puretec treats water for thousands of different uses
By Abigail Napp Special to the Business Times Since 1965, Jim Harris has served as President of Puretec Industrial Water, a water purification company he founded in Ventura. “Everybody takes water for granted,” said Harris. “There’s a lot to it.” Under Harris’s leadership, Puretec Industrial Water has become a regional leader in the purified water Read More →
The Pride and Joy of Santa Ynez Valley
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Portfolio watch
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Dubroff: Spainhour, a confident banker who leaves behind a rich legacy
I first met Dave Spainhour when I stumbled into a Santa Barbara Bank & Trust Branch on Halloween in 1999, hoping to find someone to notarize a document. The branch was decorated to the nines and amid the spiderwebs and massive amounts of candy, I met Kathy Kerstiens, who helped me get the right signatures Read More →
