October 3, 2022
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Montecito Bank & Trust
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Montecito Bank & Trust assets approach $2.5B

By   /  Friday, August 5th, 2022  /  Banking & Finance, Banking Industry, Latest news, Regions, Santa Barbara County  /  Comments Off on Montecito Bank & Trust assets approach $2.5B

Montecito Bank & Trust, the biggest bank based in the tri-county region, reported total assets increased nearly 13% during the 12 months ending June 30. The Santa Barbara-based bank saw total assets grow $276.45 million during the period, closing at $2.46 billion, it said in a quarterly report released Aug. 5. Montecito Bank & Trust Read More →

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Community West reports earnings decline as PPP loans wind down

By   /  Friday, July 29th, 2022  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Community West reports earnings decline as PPP loans wind down

Goleta-based Community West Bank reported a drop in net income in its most recent quarter, as the federal Paycheck Protection Program wound down. Community West Bancshares, the bank’s holding company, released its earnings report for the second quarter of 2022 before the markets opened July 29. Its net income for the quarter was $2.6 million, Read More →

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Bank of the Sierra income down, due in part to rising interest rates

By   /  Monday, July 25th, 2022  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Bank of the Sierra income down, due in part to rising interest rates

Sierra Bancorp’s net income fell to $9.2 million in the second quarter of 2022, from $11.7 million a year earlier, the bank announced July 25. The parent company of Bank of the Sierra posted net income of 61 cents per diluted share for the quarter ended June 30, compared with 76 cents per diluted share Read More →

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American Riviera Bank reports income drop due to end of PPP program

By   /  Monday, July 25th, 2022  /  Banking & Finance, Banking Industry, Earnings, Latest news, Regions, Santa Barbara County, Tri-County Public Companies  /  Comments Off on American Riviera Bank reports income drop due to end of PPP program

Santa Barbara-based American Riviera Bank reported July 21 that its net income in the first half of 2022 shrank to $5.7 million, compared with $6.1 million in the same period a year earlier. For the second quarter, which ended June 30, American Riviera reported unaudited net income of $2.5 million, or 49 cents per share, Read More →

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Montecito Bank reports growth in assets, drop in loans for Q1

By   /  Tuesday, May 3rd, 2022  /  Banking & Finance, Banking Industry, Earnings, Latest news, Regions, Santa Barbara County, Tri-County Public Companies, Ventura County  /  Comments Off on Montecito Bank reports growth in assets, drop in loans for Q1

Montecito Bank & Trust’s assets increased more than 14% in the year ended March 31, with “strong” deposit growth, the bank said in its May 2 first-quarter earnings release. The Santa Barbara-based bank, the largest financial institution based in the tri-county region, said its total assets rose $302.45 million, closing at $2.39 billion, at the Read More →

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Income grows at Community West Bank as PPP loans phase out

By   /  Monday, May 2nd, 2022  /  Banking & Finance, Banking Industry, Earnings, Latest news, Regions, Santa Barbara County, Tri-County Public Companies  /  Comments Off on Income grows at Community West Bank as PPP loans phase out

Net income for Goleta-based Community West Bancshares increased more than 31% for the quarter ended March 31, to $4 million, or 45 cents per diluted share, the company announced April 29. The holding company for Community West Bank reported net income of $3 million, or 35 cents per diluted share, for the same period last Read More →

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Bank of the Sierra reports drop in income

By   /  Monday, April 25th, 2022  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on Bank of the Sierra reports drop in income

Sierra Bancorp, a Porterville-based banking company with nine branches in the Tri-Counties, reported its net income dropped more than 30% for the first quarter of 2022, compared with the same quarter a year ago.   Net income was $7.4 million, or 49 cents per diluted share, for the quarter ended March 31, compared with $11.1 Read More →