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Montecito Bank & Trust
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Community Bancorp of Santa Maria reports rising revenue and expenses

By   /  Wednesday, January 20th, 2021  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  No Comments

Community Bancorp of Santa Maria saw another quarter of continued growth, buoyed by federal Paycheck Protection Program loans, even as net income fell. The bank’s total income rose 4.3%, but net income fell by more than 19%, going from $2.7 million in December 2019 to $2.2 million in the same month of 2020. Net loans Read More →

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Next round of PPP loans rolling out to region’s banks

By   /  Thursday, January 14th, 2021  /  Banking & Finance, Banking Industry, Latest news, Small Business  /  No Comments

More than 1 million Paycheck Protection Program borrowers have already had their loans forgiven, to the sum of more than $100 billion, and the window to borrow more opens again soon. On Jan. 15, the U.S. Small Business Administration is reopening the PPP portal to financial institutions with less than $1 billion in assets. For Read More →

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Second round of PPP loans headed to Tri-Counties

By   /  Monday, January 11th, 2021  /  Banking & Finance, Banking Industry, Latest news, Small Business, Tri-County Economy  /  No Comments

Another round of the federal Paycheck Protection Program opened Jan. 11, and the region’s bankers expect the money to help a lot of small businesses that have been struggling through the pandemic and pandemic-related restrictions. “We understand the urgency and the difficulty the business community is experiencing,” said George Leis, president of Montecito Bank & Read More →

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Region’s bankers see a bumpy road to recovery in 2021

By   /  Thursday, December 31st, 2020  /  Banking & Finance, Banking Industry, Central Coast, East Ventura County, Latest news, South Coast, Subscriber content, Tri-County Economy, West Ventura County  /  No Comments

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Montecito Bank & Trust hands out nearly $1.2M in charitable grants

By   /  Monday, November 23rd, 2020  /  Banking & Finance, Banking Industry, Central Coast, East Ventura County, Latest news, Nonprofits, South Coast, Tri-County Economy, West Ventura County, Women Inc.  /  Comments Off on Montecito Bank & Trust hands out nearly $1.2M in charitable grants

Montecito Bank & Trust upped the ante for the 2020 round of its corporate philanthropy, giving away $1.175 million at its 18th annual Community Dividends program on Nov. 23. The program was presented virtually on Zoom, and around 350 people participated from 194 organizations in Santa Barbara and Ventura counties.  The program was the creation Read More →

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PennyMac notches another strong earnings report

By   /  Monday, November 9th, 2020  /  Banking & Finance, Banking Industry, Earnings, East Ventura County, Latest news, Real Estate, Tri-County Economy, Tri-County Public Companies  /  Comments Off on PennyMac notches another strong earnings report

PennyMac Financial Services more than tripled its net income over the course of a year when it reported $535.2 million, or $7.03 per share, in its third quarter financial report, up from $121.5 million, or $1.51 per share, in the third quarter of 2019. The Westlake Village-based mortgage lender built on steam from a record Read More →

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Mission Bancorp reports growth in earnings, revenue, deposits

By   /  Friday, October 30th, 2020  /  Banking & Finance, Banking Industry, Central Coast, Earnings, Latest news, Tri-County Economy, Tri-County Public Companies, West Ventura County  /  Comments Off on Mission Bancorp reports growth in earnings, revenue, deposits

Mission Bancorp, which has business banking offices in Ventura and San Luis Obispo, set a new all-time record for net income when it announced its third quarter financial results. The bank reported a net income of $4.2 million, or $2.07 per basic common share, compared to the net income of $3.7 million, or $1.85 per Read More →

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