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Regulators back Pacific Premier acquisition of Heritage Oaks

By   /  Tuesday, March 21st, 2017  /  Banking & Finance, Banking Industry, Central Coast, Latest news, Tri-County Economy  /  No Comments

The board of governors of the Federal Reserve System and the California Department of Business Oversight approved Irvine-based Pacific Premier Bancorp’s acquisition of Heritage Oaks Bancorp in Paso Robles, the company announced in a news release March 21. The all-stock deal, announced Dec. 13, is valued at  $405.6 million or $11.68 per share. It combines the Read More →

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Dubroff: Companies play let’s make a deal but they don’t always win

By   /  Friday, March 10th, 2017  /  Banking & Finance, Banking Industry, Columns, Latest news, Technology  /  No Comments

Henry Dubroff

There’s no question that the current wave of corporate mergers is reshaping big chunks of the corporate landscape on the Central Coast. But all mergers are not created equal and history suggests that more than half of mergers involving large publicly traded companies don’t really work out at all. For a look at what’s working Read More →

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OCB Bancorp reports strong fourth quarter earnings

By   /  Thursday, February 2nd, 2017  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on OCB Bancorp reports strong fourth quarter earnings

OCB Bancorp, parent company of Ojai Community Bank and its divisions — Santa Barbara Community Bank, Ventura Community Bank and Santa Paula Community Bank – reported net income of $1.28 million in the fourth quarter of 2016, an increase of $361,000 or 39 percent over 2015. Total loans finished the year at $209 million, an Read More →

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American Riviera Bank’s net income soared in 2016

By   /  Tuesday, January 31st, 2017  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on American Riviera Bank’s net income soared in 2016

Santa Barbara-based American Riviera Bank reported net income of $4.1 million in 2016, or 94 cents per share, up from $1.3 million in 2015, or 48 cents per share, as the acquisition of The Bank of Santa Barbara has paid dividends, the company said. The all-stock transaction, completed in January 2016, created a combined institution Read More →

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Heritage Oaks Bancorp beats revenue, income estimates

By   /  Monday, January 30th, 2017  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Heritage Oaks Bancorp beats revenue, income estimates

Heritage Oaks Bancorp, the holding company of Paso Robles-based Heritage Oaks Bank, beat analyst estimates in both year-over-year revenue and net income. The bank reported $20.3 million in revenue in 2016, a 12 percent increase from 2015, outpacing analyst expectations by more than $1 million. Net income reached $16.9 million, or 49 cents per diluted Read More →

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Community West Bancshares income down for fourth quarter but up for 2016

By   /  Friday, January 27th, 2017  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Community West Bancshares income down for fourth quarter but up for 2016

Community West Bancshares, parent company of Goleta-based Community West Bank, reported net income of $1.3 million in the fourth quarter of 2016, or 16 cents per diluted share, down from $1.9 million in the fourth quarter last year. While net income was down for the quarter, it reached $5.2 million in 2016, up from $2.9 Read More →

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CoastHills Credit Union building headquarters in Santa Maria

By   /  Friday, January 27th, 2017  /  Banking & Finance, Banking Industry, middle  /  Comments Off on CoastHills Credit Union building headquarters in Santa Maria

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