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Montecito Bank & Trust
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American Riviera Bank reports strong growth

By   /  Thursday, April 20th, 2017  /  Banking & Finance, Banking Industry, Earnings, Latest news, Tri-County Public Companies  /  Comments Off on American Riviera Bank reports strong growth

Santa Barbara-based American Riviera Bank showed strong growth for the first quarter of 2017, posting an unaudited net income of $956,000 or 22 cents per share. The rise represents a 426 percent increase from the $182,000 or 4 cents per share reported for the first quarter ended March 31, 2016. The growth is the latest Read More →

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Philanthropist, banker and developer Michael Towbes dies at 87

By   /  Thursday, April 13th, 2017  /  Banking Industry, Latest news, Nonprofits, Real Estate  /  Comments Off on Philanthropist, banker and developer Michael Towbes dies at 87

  Updated at 10 a.m. April 14: Michael Towbes, the tri-county region’s most prominent philanthropist, banker and real estate developer, whose influence spanned nearly six decades, died April 13. He was 87. “He passed away early this morning, surrounded by family, in peace,” said Towbes Group President Craig Zimmerman, in an email to the Business Read More →

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Simone Lagomarsino named president of California Bankers Association

By   /  Tuesday, April 11th, 2017  /  Banking & Finance, Banking Industry, Latest news, Women Inc.  /  Comments Off on Simone Lagomarsino named president of California Bankers Association

Simone Lagomarsino, former president and CEO of Heritage Oaks Bancorp, has been named president of the California Bankers Association. The association made the announcement April 11. She will replace Rod Brown, who plans to retire after a decade at the helm of the organization. Lagomarsino joined Heritage Oaks in September 2011, with more than 20 Read More →

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PacWest Bancorp acquires CU Bancorp in $705 million deal

By   /  Friday, April 7th, 2017  /  Banking & Finance, Banking Industry, Latest news  /  Comments Off on PacWest Bancorp acquires CU Bancorp in $705 million deal

PacWest Bancorp has acquired CU Bancorp in a transaction valued at approximately $705 million. CU Bancorp, headquartered in Los Angeles, is the parent of California United Bank, which has branches in Thousand Oaks and Simi Valley. The bank has about $3 billion in assets and nine branches in Los Angeles, Orange, Ventura and San Bernardino Read More →

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Latest

Towbes giving up reins at Montecito Bank & Trust

By   /  Friday, April 7th, 2017  /  Banking & Finance, Banking Industry, middle, Nonprofits, Real Estate  /  Comments Off on Towbes giving up reins at Montecito Bank & Trust

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Montecito Bank & Trust owner Towbes stepping down as chairman

By   /  Monday, April 3rd, 2017  /  Banking & Finance, Banking Industry, Latest news, Real Estate  /  Comments Off on Montecito Bank & Trust owner Towbes stepping down as chairman

Updated at 8:40 p.m.: Montecito Bank & Trust founder and owner Michael Towbes will step down from his role as board chairman, the bank announced April 3. The bank, which will continue under ownership by a trust that is overseen by trustees, said it would propose naming current President and CEO Janet Garufis as CEO and Read More →

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Pacific Premier, Heritage Oaks shareholders approve merger

By   /  Friday, March 31st, 2017  /  Banking & Finance, Banking Industry, Central Coast, Latest news  /  Comments Off on Pacific Premier, Heritage Oaks shareholders approve merger

This article is only available to Business Times subscribers Subscribers: LOG IN or REGISTER for complete digital access. Not a Subscriber? SUBSCRIBE for full access to our weekly newspaper, online edition and Book of Lists. Check the STATUS of your Subscription Account.

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