Oxnard-based CalAmp buys LoJack for $134 million
Oxnard-based CalAmp completed its hostile takeover of Canton, Mass.-based LoJack on Feb. 1 by buying LoJack for $134 million. CalAmp makes wireless devices for the vehicle and transportation industries while LoJack makes theft recovery systems for cars, trucks and construction equipment. CalAmp had discussions with LoJack for 14 months prior to December 2015 and made Read More →
Heritage Oaks Bancorp misses fourth-quarter estimates
Paso Robles-based Heritage Oaks Bancorp earnings missed analyst estimates for the fourth quarter but earnings were significantly up on the year. Heritage Oaks reported net income of $3.5 million, or 10 cents per share, for the fourth quarter. That missed analyst expectations of 11 cents per share and was down from $4.2 million net earnings, Read More →
Community West Bank hires 2 executives
Goleta-based Community West Bank has hired two new executives as the bank expands into San Luis Obispo County and maps out future growth. The bank’s parent company, Community West Bancshares, announced on Feb. 1 that it hired Brian Schwabecher as its senior vice president and regional market manager and Elizabeth Crandall as the vice president Read More →
Santa Barbara County OKs ExxonMobil’s emergency permit to truck oil
The county of Santa Barbara has approved ExxonMobil’s emergency permit to truck oil. Exxon plans to transport 425,000 barrels of oil currently sitting in two tanks at its Las Flores Canyon storage facility to destinations up to 140 miles north on Highway 101. Trucking to empty the tanks is expected to take three to six Read More →
Decron Properties buys 391 Thousand Oaks apartment units for $126.5 million
Los Angeles-based developer Decron Properties acquired a 391-unit multifamily apartment portfolio in Thousand Oaks for $126.5 million. The deal with Prometheus Real Estate Group included the 249-unit Los Robles Apartments and the 142-unit Marlowe Apartments located about a mile apart near Moorpark Road. The complexes feature swimming pools, clubhouses, fitness centers and large amounts of Read More →
Vandenberg AFB launches ground-based interceptor missile
Vandenberg Air Force Base’s 30th Space Wing conducted a successful test Jan. 28 of an unarmed ground based interceptor missile. It launched at 1:57 p.m. from the northern part of the base to destroy a mock enemy warhead launched from the Marshall Islands over the Pacific Ocean just west of Hawaii, the U.S. Missile Defense Read More →
American Riviera Bank reports income drop due to merger with Bank of Santa Barbara
American Riviera Bank reported a 17 percent decrease in unaudited net income in 2015 as the institution prepared for its merger with The Bank of Santa Barbara. American Riviera acquired The Bank of Santa Barbara in an all-stock deal valued close to $18 million, creating a “force to be reckoned with,” said Joanne Funari, the Read More →
