Montecito Bank & Trust gives out $1.2M in annual Community Dividends
In recognition of community enrichment through compassion, 179 Central Coast nonprofits received a boost from Montecito Bank & Trust after persevering through 20 months of pandemic-related changes. The bank awarded those nonprofits from Santa Barbara and Ventura counties with a total of $1.2 million at its 19th annual Community Dividends program on Nov. 22. The Read More →
WEV wins $50K Bank of America grant for equity programs
Women’s Economic Ventures received $50,000 in grant funding from Bank of America’s philanthropic program to help underrepresented entrepreneurs on the Central Coast. The grant, announced by the Santa Barbara-based nonprofit on Nov. 17, will be used to advance a micro-grant and entrepreneurial training pilot program it launched recently in partnership with an Oxnard-based nonprofit supporting Read More →
PennyMac Financial reports profit while investment trust records loss in Q3
Westlake Village-based PennyMac Financial Services saw its net income drop in the third quarter compared to the year before, but officials reported “exceptional financial performance” in other areas in earnings released Nov. 4. The mortgage lender and loan servicer reported net income of $249.3 million in the third quarter, or $3.80 per share on a Read More →
Velocity Financial reports earnings growth in Q3
Westlake Village-based mortgage lender Velocity Financial reported an increase in net income and net interest margin for the third quarter, compared to the same quarter last year, in an earnings statement released Nov. 3. Velocity reported net income of $8.02 million in the third quarter, or 23 cents per diluted share, compared to $3.5 million, Read More →
Earnings up as Community West Bank reports 10% non-PPP loan growth
Goleta-based Community West Bancshares reported “strong” earnings in the third quarter, fueled by an expanded balance sheet and increased net interest, according to a quarterly report released Nov. 1. The parent company of Community West Bank said its net income for the most recent quarter was $3.6 million, or 41 cents per diluted share, compared Read More →
Opinion: What is a financial advisor?
By Joe Weiland I had lunch today with a younger acquaintance of mine. Let’s call him Jim. I have known Jim for a number of years, and he has always impressed me with his business acumen. At a young age, he has managed to put together a sizable, yet a bit illiquid, net worth. He Read More →
LTC properties reports decline in income and assets in Q3
Westlake Village-based LTC Properties saw its net income, total assets and funds from operations drop in the third quarter compared to a year earlier, the company said in its Oct. 28 earnings release. For the three months ended Sept. 30, LTC had net income of $10.9 million, or 28 cents per diluted share, down from Read More →
