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Founders Community Bank changes its name

By   /  Thursday, July 29th, 2021  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Founders Community Bank changes its name

Founders Community Bank, which has two branches in San Luis Obispo County, has rebranded as Premier Valley Bank. In a July 29 news release, the bank announced the name change but said that ownership and leadership will remain unchanged. The Fresno-based bank attributed its decision to rebrand as a way to unite its banking centers Read More →

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Citizens Business Bank to acquire Suncrest Bank

By   /  Thursday, July 29th, 2021  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on Citizens Business Bank to acquire Suncrest Bank

CVB Financial Corp., the parent company of Citizens Business Bank, announced July 27 that it will be merging with and absorbing Suncrest Bank. The deal is worth about $204 million, or $16.18 per Suncrest share. Through the merger, Citizens’ total assets will increase to about $17 billion, based on the most recent publicly available information Read More →

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Pacific Premier Bank back in black in Q2

By   /  Tuesday, July 27th, 2021  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Pacific Premier Bank back in black in Q2

Pacific Premier Bancorp, the holding company of Pacific Premier Bank, recorded almost $100 million in net income in the second quarter, a year after losing a similar amount, according to a quarterly report released July 27. The Irvine-based bank has seven branches in San Luis Obispo County and two in Santa Barbara County. Its net Read More →

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SLO County landfill secures private equity loan

By   /  Friday, July 23rd, 2021  /  Banking & Finance, Banking Industry, Central Coast, Latest news, Tri-County Economy  /  Comments Off on SLO County landfill secures private equity loan

CGL Holdings, the owner of Chicago Grade Landfill in San Luis Obispo County, has secured a $9.5 million term loan from Columbia Pacific Business Finance, a Seattle-based private equity fund. CGL Holdings will use the money to refinance existing debt on the municipal waste landfill and recycling center near Atascadero and distribute proceeds to its Read More →

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Earnings and loans up at Citizens Business Bank

By   /  Friday, July 23rd, 2021  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Earnings and loans up at Citizens Business Bank

CVB Financial Corp., the parent company of Citizens Business Bank, saw higher net income and loan growth, excluding Paycheck Protection Plan loans, in its second quarter. The Ontario-based bank, which has four branches in Ventura County and one in Santa Barbara, reported $51.2 million in net income for the quarter ended June 30, or 47 Read More →

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American Riviera Bank reports strong second quarter

By   /  Friday, July 23rd, 2021  /  Banking & Finance, Banking Industry, Earnings, Latest news, South Coast, Tri-County Economy, Tri-County Public Companies  /  Comments Off on American Riviera Bank reports strong second quarter

American Riviera Bank more than doubled its net income from the second quarter of 2020 to the same quarter of 2021, buoyed by Paycheck Protection Program fee income. The Santa Barbara-based bank reported $3.57 million in net income in the most recent quarter, or 70 cents per share, compared to $1.57 million, or 31 cents Read More →

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Pacific Western Bank earnings more than quintuple in Q2

By   /  Tuesday, July 20th, 2021  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Pacific Western Bank earnings more than quintuple in Q2

PacWest Bancorp’s net income shot up more than 440% year-over-year as it saw strong loan growth and core deposit growth. The Los Angeles-based parent company of Pacific Western Bank, which has 15 branches in the tri-county region, recorded net earnings of $180.5 million, or $1.52 per diluted share, in the second quarter of 2021. In Read More →

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