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Montecito Bank & Trust
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Revenue up at Semtech, down at QAD

By   /  Wednesday, August 26th, 2020  /  Banking & Finance, Earnings, Latest news, South Coast, Technology, Tri-County Economy, Tri-County Public Companies, West Ventura County  /  No Comments

Two of the region’s top technology companies reported second quarter earnings on Aug. 26, with results underscoring how the Internet of Things and cloud computing are transforming established players in semiconductors and software. Camarillo-based Semtech Corp, with a market cap of slightly more than $4 billion, said sales for the second quarter were $143.7 million, Read More →

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Vista Equity founder Robert Smith under tax investigation

By   /  Monday, August 24th, 2020  /  Central Coast, Latest news, South Coast, Technology, Tri-County Economy, West Ventura County  /  No Comments

Robert Smith, the founder of Vista Equity Partners, which counts Mindbody and LogicMonitor in its portfolio, is facing an investigation by U.S. tax authorities over his personal offshore holdings. According to reports first published in Bloomberg, then in the Financial Times and others, Smith has come under scrutiny over tax treatment of millions of dollars Read More →

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Shoonya brings online language education to preschool set

By   /  Monday, August 24th, 2020  /  Education, Latest news, Small Business, South Coast, Startups, Subscriber content, Technology, Top Stories, Tri-County Economy, Women Inc.  /  No Comments

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Unemployment rate drops in Tri-Counties, still in double digits

By   /  Friday, August 21st, 2020  /  Central Coast, East Ventura County, Latest news, South Coast, Tri-County Economy, West Ventura County  /  No Comments

Unemployment rates in Ventura, Santa Barbara and San Luis Obispo counties continued to inch downward in July, though all three remained at historically high levels in the fourth month of the coronavirus pandemic. The combined civilian unemployment rate for the tri-county area was 10.7 percent in July, according to a Business Times analysis of data Read More →

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Charges filed in Wolfe & Associates hacking case

By   /  Thursday, August 13th, 2020  /  Latest news, Law, Real Estate, South Coast, Tri-County Economy, West Ventura County  /  Comments Off on Charges filed in Wolfe & Associates hacking case

Felony charges were filed Aug. 12 against six people suspected of hacking into the computer networks of Wolfe & Associates, a Santa Barbara-based property management firm, as part of an unemployment insurance fraud scheme. The suspects—Gordon Alan Welteren, Nicole Michelle Milan, William Lee Gormley and Christina Renata Hesler of San Diego; David Zarate of Oxnard; Read More →

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Region’s restaurants take it outside

By   /  Monday, August 10th, 2020  /  Central Coast, Restaurants, Small Business, South Coast, Top Stories, Top Story, Tri-County Economy, West Ventura County  /  Comments Off on Region’s restaurants take it outside

In San Luis Obispo, Santa Barbara and Ventura counties, businesses have been encouraged to take advantage of outdoor spaces around them, and in cities like Paso Robles, Solvang, Santa Barbara and Ventura, cities have shut down main thoroughfares to give restaurants more room to expand into the streets and sidewalks. “It’s a really great opportunity Read More →

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Montecito Bank & Trust reports big quarter due to PPP loans

By   /  Monday, August 10th, 2020  /  Banking & Finance, Banking Industry, Earnings, Latest news, South Coast, Tri-County Economy, Tri-County Public Companies  /  Comments Off on Montecito Bank & Trust reports big quarter due to PPP loans

Montecito Bank & Trust’s total net income grew more than 15 percent in the second quarter, buoyed by increases in total assets, loan growth and deposit growth, the bank announced Aug. 10. Many of the bank’s key measures grew by leaps and bounds between June 30, 2019 and June 30, 2020. Montecito Bank & Trust’s Read More →

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