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Montecito Bank & Trust
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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  /  No Comments

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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PennyMac’s quarter to remember

By   /  Thursday, August 6th, 2020  /  Banking & Finance, Banking Industry, Earnings, East Ventura County, Real Estate, Top Stories, Top Story, Tri-County Economy, Tri-County Public Companies  /  No Comments

With mortgage rates at record lows and the homebuying and refinancing markets booming, PennyMac Financial Services, a Westlake Village mortgage lender, and its real estate investment trust both reported strong financial results on Aug. 6. PennyMac Financial Services announced a net income of $352.7 million for the second quarter of 2020, or $4.39 per share, Read More →

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Union Bank unveils $10M grant program for underserved communities

By   /  Thursday, August 6th, 2020  /  Banking & Finance, Banking Industry, Latest news, Small Business  /  No Comments

Editor’s note: An earlier version of this article contained an error in the headline. Union Bank’s Community Recovery Program is grants, not loans. Union Bank is making it easier for marginalized communities to access much-needed grant funds through a new online portal. The Community Recovery Program is a portal through which the bank is pouring Read More →

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American Riviera Bank earnings tick up in Q2

By   /  Tuesday, July 28th, 2020  /  Banking & Finance, Banking Industry, Central Coast, Earnings, Latest news, South Coast, Tri-County Economy, Tri-County Public Companies  /  No Comments

American Riviera Bank saw a slight rise in its unaudited net income in the second quarter, but the Santa Barbara-based bank is still facing a decreased net income for the year as it prepares for loan losses. The bank’s unaudited net income in the second quarter of 2020 was $1.56 million, up from $1.51 million Read More →

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Pandemic still top concern for Community West following Q2 earnings

By   /  Friday, July 24th, 2020  /  Banking Industry, Earnings, Latest news  /  No Comments

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Sierra Bancorp Q2 earnings down

By   /  Monday, July 20th, 2020  /  Banking & Finance, Banking Industry, Earnings  /  No Comments

Sierra Bancorp, a Porterville-based banking company with 11 branches in the Tri-Counties, announced July 20 that its quarterly earnings were slightly down compared to the same period in 2019, led by a lower consolidated net income and lower return on both average assets and average equity. The parent company of Bank of the Sierra declared Read More →

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Several tri-county companies got at least $5M in PPP funding

By   /  Tuesday, July 7th, 2020  /  Banking & Finance, Banking Industry, Latest news, Small Business, Tri-County Economy  /  Comments Off on Several tri-county companies got at least $5M in PPP funding

At least a dozen companies in the Tri-Counties received more than $5 million each in Paycheck Protection Program funding since the start of the COVID-19 pandemic, according to data released July 6 by the Trump administration. The companies’ names were listed because of the size of the loans they took out. All companies who took Read More →

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