Montecito Bank & Trust reports income drop but strong loan and deposit growth
Santa Barbara-based Montecito Bank & Trust reported an 8.5 percent drop in net income in 2016 to $14.6 million but saw strong loan and deposit growth. The decrease in net income was due to loan loss reversals in 2015 that were not repeated in 2016. The bank reported loan growth of 22 percent year over Read More →
Digital West completes merger with Norcast Telecom
Digital West announced Jan. 24 that it completed a merger with its fellow IT network provider Norcast Telecom, both headquartered in San Luis Obispo. Together, they will have 60 employees with no staff reductions planned. “Our two companies have worked closely for more than 10 years; in fact, we work with many of the same Read More →
Pacific Premier Bancorp’s net income climbs
Pacific Premier Bancorp (PPBI), the holding company of Pacific Premier Bank, reported fourth quarter net income of $12 million, or 43 cents per diluted share, including $772,000 of merger-related expenses related to its pending acquisition of Heritage Oaks Bancorp. Net income was up from $8.1 million, or 37 cents per diluted share, in the fourth Read More →
Spiritual principles can drive success
By Virginia Gean According to QSR magazine’s annual drive-thru report issued in October, Chick-fil-A is not only ranked as our nation’s best fast-food restaurant based on customer satisfaction, but is also considered the most polite restaurant in the country. The recent rankings for Chick-fil-A come after the restaurant generated more revenue per location than any Read More →
Lockheed Martin reports strong fourth quarter earnings
Defense and technology giant Lockheed Martin, which has operations in Goleta, reported earnings of $3.25 per share for the fourth quarter of 2016, bringing it up to $12.38 per share for the year. Sales grew from $11.8 billion in the final quarter of 2015 to $13.8 billion, the company reported Jan. 24, with net earnings Read More →
Chumash reservation annexes Camp 4 in Santa Ynez
The Bureau of Indian Affairs placed the 1,390 acres in Santa Ynez known as Camp 4 into federal trust Jan. 23, which will allow the Santa Ynez Band of Chumash Indians to begin building homes for its tribal members, the Chumash said. After several appeals since the Chumash submitted the application in 2013, the BIA Read More →
California, U.S. must stop dreaming and face fiscal reality
Maybe it’s time to get real. The idealized view of America that brought about the populist revolution in the November election is not going to come back. Going back to 1970s or 1980s work rules would mean shackling millions of workers to jobs that offered little mobility, bare-bones pensions without inflation protection and uncertain prospects Read More →
